Grant of Options under Long-Term Incentive Plan

RNS Number : 0767E

Staffline Group PLC

05 July 2021

 

5 July 2021

Staffline Group plc

("Staffline", the "Company" or the "Group")

Grant of Options under 2021 Long-Term Incentive Plan

Staffline, the recruitment and training group, announces that, under the terms of the Company's 2021 long term incentive plan (the "2021 LTIP"), the Board has approved the award of and granted nil cost options (the "Options") over 1,678,279 ordinary shares of ten pence each in the Company ("OrdinaryShares") to certain employees, including persons discharging managerial responsibilities ("PDMRs"), as set out below.

The vesting of the Options is subject to the satisfaction of the Company achieving certain financial performance criteria for the financial year ending 31 December 2023.  50% of the Options awarded are subject to achieving earnings per share hurdles and 50% are subject to achieving EBITDA hurdles.  In addition, no Options will vest unless the average closing price of the Ordinary Shares for the last 30 business days of 2023 is above a minimum target.  The Options will vest from 30 June 2024 (the "Vesting Period") and will be exercisable until 30 June 2031.

The Board believes it is key that the Group incentivises executive directors and senior managers to drive the business forward, whilst aligning their interests with those of shareholders. The Options awarded to PDMRs are set out in the table below:

Director/ PDMR	Position	Options granted
Albert Ellis	Chief Executive Officer	573,770
Daniel Quint	Chief Financial Officer	450,820
Martina McKenzie	MD - Recruitment Ireland	180,328
Simon Rouse	MD - PeoplePlus	180,328
Frank Atkinson	MD - Recruitment GB	180,328

Following the grant of the Options, the total number of Ordinary Shares outstanding under the 2021 LTIP is 1,678,279, representing 1.0 per cent. of the Company's issued share capital.

Enquiries:

Staffline Group plc www.stafflinegroupplc.co.uk Albert Ellis, Chief Executive Officer Daniel Quint, Chief Financial Officer	via Vigo Consulting
Liberum  (Nominated Adviser and Broker) www.liberum.com Richard Lindley / William Hall / Christopher Whitaker	020 3100 2222
Vigo Consulting ( Financial PR) www.vigocomms.com Jeremy Garcia / Antonia Pollock	020 7390 0230 [e-mail]

About Staffline - Recruitment, Training and Support  

Enabling the Future of Work™

Staffline is the UK's market leading Recruitment and Training group. It has three divisions:

Recruitment GB

Staffline is the UK's leading provider of flexible blue-collar workers, supplying approximately 40,000 staff per day on average to around 450 client sites, across a wide range of industries including agriculture, supermarkets, drinks, driving, food processing, logistics and manufacturing.

Recruitment Ireland 

The recruitment Ireland business is a leading end to end solutions provider operating across twenty industries, ten branch locations, fifteen onsite customer locations and offering RPO, MSP, temporary and permanent solutions across the island of Ireland.

PeoplePlus Division

Staffline is the leading adult skills and training provider in the UK, delivering adult education, prison education and skills-based employability programmes across the country.

The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on the grant of Options.

Notification of transactions of persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Albert Ellis
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Staffline Group plc
b)	LEI	213800BVLF1BCOJUH828
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary Shares of 10 pence each ISIN: GB00B040L800
b)	Nature of the transaction	Grant of awards over Ordinary Shares under the Company's LTIP
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil consideration	573,770
d)	Aggregated information  - Aggregated volume  - Price	N/A
e)	Date of the transaction	30 June 2021
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Daniel Quint
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Staffline Group plc
b)	LEI	213800BVLF1BCOJUH828
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary Shares of 10 pence each ISIN: GB00B040L800
b)	Nature of the transaction	Grant of awards over Ordinary Shares under the Company's LTIP
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil consideration	450,820
d)	Aggregated information  - Aggregated volume  - Price	N/A
e)	Date of the transaction	30 June 2021
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Martina McKenzie
2	Reason for the notification
a)	Position/status	MD - Recruitment Ireland
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Staffline Group plc
b)	LEI	213800BVLF1BCOJUH828
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary Shares of 10 pence each ISIN: GB00B040L800
b)	Nature of the transaction	Grant of Options to purchase Ordinary Shares of 10 pence each under the Staffline Group
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil consideration	180,328
d)	Aggregated information  - Aggregated volume  - Price	N/A
e)	Date of the transaction	30 June 2021
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Simon Rouse
2	Reason for the notification
a)	Position/status	MD - PeoplePlus
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Staffline Group plc
b)	LEI	213800BVLF1BCOJUH828
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary Shares of 10 pence each ISIN: GB00B040L800
b)	Nature of the transaction	Grant of awards over Ordinary Shares under the Company's LTIP
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil consideration	180,328
d)	Aggregated information  - Aggregated volume  - Price	N/A
e)	Date of the transaction	30 June 2021
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Frank Atkinson
2	Reason for the notification
a)	Position/status	MD - Recruitment GB
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Staffline Group plc
b)	LEI	213800BVLF1BCOJUH828
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary Shares of 10 pence each ISIN: GB00B040L800
b)	Nature of the transaction	Grant of awards over Ordinary Shares under the Company's LTIP
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil consideration	180,328
d)	Aggregated information  - Aggregated volume  - Price	N/A
e)	Date of the transaction	30 June 2021
f)	Place of the transaction	Outside a trading venue

 

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