THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Frenkel Topping Group plc
("Frenkel Topping" or the "Company")
Implementation of New Long-Term Incentive Plan
Frenkel Topping (AIM: FEN), a specialist independent financial advisor and asset manager focused on asset protection for vulnerable clients, announces that upon the recommendation of the Company's Remuneration Committee, it has approved the implementation of a new long-term incentive plan ("LTIP") designed to incentivise the Company's Executive Directors and members of the Senior Management team (the "Participants").
The LTIP, has been established to encourage long-term value creation for Frenkel Topping's shareholders and to align the interests of the Participants with shareholders. Awards under the LTIP take the form of options (the "Options") over the Company's ordinary shares of 0.5 pence each ("Ordinary Shares") which, in respect of the Directors, are exercisable from the 3rd anniversary of the date of grant.
Frenkel Topping's Remuneration Committee believes that the implementation of the LTIP will incentivise the Participants and will also help the Company to attract and retain talented individuals in the future.
Further details of the LTIP
The setting of LTIP key performance indicators (KPI) takes into consideration the overarching aims of the Company and its shareholders. It also considers the ability for the Directors to be rewarded against a wider range of KPIs via the annual bonus scheme.
It was agreed by the Remuneration Committee that the vesting criteria be weighted 75% to share price performance, 12.5% to AuM growth and 12.5% successful business integration.
Initial grants under the LTIP
As per the table below, a total of 5,000,000 Options have been granted to Directors of Frenkel Topping. Grants to senior management will be made in due course.
| Director | Position | Options Granted | Exercise Price | Total Options held |
| Richard Fraser | CEO | 2,000,000 | 0.5p | 3,000,000 |
| Elaine Cullen Grant | CFO | 1,500,000 | 0.5p | 1,500,000 |
| Mark Holt | COO | 1,500,000 | 0.5p | 2,333,501 |
It is expected that Ordinary Shares issued to satisfy the exercise of Options will be made from the Company's Employee Benefit Trust and therefore the exercise of Options will not have a dilutive impact on the issued share capital of the Company.
For further information:
| Frenkel Topping Group plc | |
| Richard Fraser, Chief Executive Officer | Tel: 0161 886 8000 |
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| finnCap Ltd | Tel: 020 7220 0500 |
| Carl Holmes/Giles Rolls (Corporate Finance) Tim Redfern / Richard Chambers (ECM) | |
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About Frenkel Topping Group:
The financial services firm consists of Frenkel Topping Limited, Ascencia Investment Management, Obiter Wealth Management, Equatas Accountants, Forth Associates, A & M Bacon Limited and Partners in Costs Limited.
The group of companies specialises in providing financial advice and asset protection services to clients at times of financial vulnerability, with particular expertise in the field of personal injury and clinical negligence.
With more than 30 years' experience in the industry, Frenkel Topping has earned a reputation for commercial astuteness underpinned by a strong moral obligation to its clients, employees and wider society, with a continued focus on its Environmental, Social and Governance (ESG) impact.
Through its core business, Frenkel Topping Limited, the firm supports litigators pre-settlement in achieving maximum damages, by providing expert witness services, and post-settlement to achieve the best long-term financial outcomes for clients after injury. It boasts a client retention rate of 99%.
The Group's discretionary fund manager, Ascencia, provides financial portfolios for clients in unique circumstances. In recent years Ascencia has diversified its portfolios to include a Sharia-law-compliant portfolio and a number of ESG portfolios in response to increased interest in socially responsible investing (SRI).
Obiter provides a generalist wealth management service - including advice on Savings and Investments; Tax planning; Life Insurance; Critical Illness and Income protection; Endowment advice and Keyman Insurance, with a particular specialism in financial advice on pensions and pension sharing orders for the clients of divorce and family lawyers. Obiter applies the same core principles of honesty, transparency, responsibility and reliability to individuals, regardless of background or situation.
In 2019, Frenkel Topping launched its accountancy arm, Equatas, to assist clients with tax planning and move closer to providing a full end-to-end service under the Group brand, improving the experience for clients and maintaining the Group's standards throughout the client journey.
In 2020 Frenkel Topping acquired Forth Associates, a specialist forensic accounting services business which assists in financial and legal disputes. The acquisition makes Frenkel Topping the largest independent provider of financial expert witness reports to the claimant marketplace.
In 2021 Frenkel Topping acquired A & M Bacon Limited a leading costs specialist in local government and Court of Protection, and Partners in Costs Limited who specialise in civil litigation claims, including personal injury (ranging from catastrophic injury to clinical negligence), professional negligence, commercial claims and court of protection costs.
For more information visit: www.frenkeltoppinggroup.co.uk
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||||
| a) | Name | 1. Richard Fraser 2. Elaine Cullen-Grant 3. Mark Holt | ||||||
| 2. | Reason for the Notification | |||||||
| a) | Position/status | 1. CEO 2. CFO 3. COO | ||||||
| b) | Initial notification/Amendment | Initial notification | ||||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a) | Name | Frenkel Topping Group plc | ||||||
| b) | LEI | 213800I5L3K7AT7A4R20 | ||||||
| 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
| Options over Ordinary Shares of 0.5 pence per share | ||||||
| Identification code | GB00B01YXQ71 | |||||||
| b) | Nature of the transaction | Grant of Options | ||||||
| c) | Price(s) and volume(s) |
| ||||||
| d) | Aggregated information: · Aggregated volume · Price | As above | ||||||
| e) | Date of the transaction | 18 March 2021 | ||||||
| f) | Place of the transaction | Outside of trading venue | ||||||
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