5 SEPTEMBER 2016
for immediate release
Numis Corporation Plc ("Numis")
Grant of Share Awards
The Board of Numis announces that Alex Ham and Ross Mitchinson, the joint-Chief Executive Officers of Numis, were each granted nil-cost options over 3,553,156 ordinary shares of 5p each in the Company on 5 September 2016 (the "Grant Date") pursuant to the Company's Long Term Incentive Plan 2016, ("LTIP 2016").
The options have been split into two types of award being a Basic Award and a Performance Award.
The Basic Award, representing 592,193 shares, does not vest until the 5th anniversary of the Grant Date and is subject to continued service throughout as well as the achievement of a number of subjective performance conditions. The satisfaction of these performance conditions is judged solely by the Company's remuneration committee.
The Performance Award, representing 2,960,963 shares, does not vest until the 5th anniversary of the Grant Date and is subject to continued service throughout as well as the achievement of specific performance targets relating to the Company's share price. The Performance Award is split into four tranches with each tranche requiring the average share price of the Company to reach or exceed a separate target level over a consecutive 90 day period within the 5 years following Grant Date in order for that tranche of the Performance Award to become eligible to vest. If the average share price of the Company does not reach or exceed the target level for a particular tranche then that tranche of the award shall lapse. The price target required for the whole award to become eligible to vest (ie the highest threshold price) has been set at £5.09.
Should a tranche become eligible to vest, additional subjective conditions apply as for the Basic Award plus a further underpin to ensure that Numis has not obviously under-performed when compared to a relevant group of comparator companies. These conditions are tested at the time that the average share price target has been achieved. The satisfaction of these performance conditions is judged solely by the Company's remuneration committee.
All options under both the Basic and Performance Award are exercisable for a maximum period of 10 years from the Grant Date after which they lapse.
No consideration was paid to the Company for the grant of the awards and no consideration is due on the vesting of the awards. Further details regarding these awards will be set out in the Company's 2016 Annual Report and Accounts.
The Numis shares referred to above are Numis' ordinary shares of 5p each ("Ordinary Shares") and the total number of shares in issue is 113,747,448 (excluding shares held in Treasury) with each Ordinary Share carrying the right to one vote.
The total number of shares held in Treasury is 4,691,088 (4.13%). The total number of voting rights in Numis is 113,747,448.
5 September 2016
The information contained within this announcement was considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release.
Robert Sutton, Remuneration Committee Chair 020 7260 1000
Simon Denyer, Group Finance Director 020 7260 1225
Gill Ackers 020 7404 5959
Simone Selzer 020 7404 5959
Grant Thornton UK LLP (Nominated Adviser):
Philip Secrett 020 7383 5100
Jen Clarke 020 7838 5100
This information is provided by RNS