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 ("Ordinary Shares") 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 Albert Ellis, Chief Executive Officer Daniel Quint, Chief Financial Officer | via Vigo Consulting |
| | |
| Liberum (Nominated Adviser and Broker) Richard Lindley / William Hall / Christopher Whitaker | 020 3100 2222 |
| | |
| Vigo Consulting (Financial PR) Jeremy Garcia / Antonia Pollock | 020 7390 0230 Staffline@vigoconsulting.com
|
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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