18 April 2023
B.P. Marsh & Partners Plc
("B.P. Marsh" or the "Company")
Award of Shares under Share Incentive Plan
Director/PDMR Dealings
B.P. Marsh, the specialist investor in early-stage financial services businesses, announces that on 14th April 2023 a further 32,780 ordinary shares of 10 pence each ("Ordinary Shares") in the Company have been granted to eligible employees pursuant to a Share Incentive Plan (the "SIP") (as announced originally on 29th March 2016).
Under the SIP, Ordinary Shares are acquired in three ways:
· Partnership Shares, where an employee can purchase up to £1,800 worth of shares;
· Matching Shares, where B.P. Marsh can give up to two free Matching Shares for each Partnership Share bought; and
· Free Shares, where the Company can give each eligible employee up to £3,600 worth of free shares in any tax year.
All eligible employees have elected to take up the opportunity to acquire 596 Ordinary Shares ("2023-24 Partnership Shares"), equating to £1,799 at a price of £3.02 per Ordinary Share.
For every Partnership Share that an employee acquires, the SIP Trust has awarded two free Ordinary Shares ("2023-24 Matching Shares") equating to 1,192 Ordinary Shares to each participating employee. In aggregate, each eligible employee will hold an additional 2,980 Ordinary Shares under the SIP. The 2023-24 Free and Matching Shares are subject to a 1-year forfeiture period.
In accordance with the SIP's rules, a total of 11 eligible employees applied for the 2023-24 SIP awards and have each been granted 1,192 Ordinary Shares ("2023-24 Free Shares"), representing £3,599 at a price of £3.02 per Ordinary Share.
Certain Directors and other Persons Discharging Managerial Responsibilities ("PDMR") have participated in this award and further details of the Directors' and PDMRs' interests in Ordinary Shares (as at today's date, following the award of 2023-24 Partnership Shares, the 2023-24 Matching Shares and the 2023-24 Free Shares) are set out below:
| Participating Directors & PDMR | Total number of Ordinary Shares held under SIP | Total number of Ordinary Shares held under JSOP* | Total number of Ordinary Shares held directly |
| Alice Foulk | 23,944 | 167,465 | 23,428 |
| Daniel Topping | 24,531 | 167,465 | 131,587** |
| Jon Newman | 32,064 | 167,465 | 19,645 |
| Sinead O'Haire | 32,064 | 167,465 | 24,695 |
* The Company's Joint Share Ownership Plan, details of which were announced on 12th June 2018
**In aggregate including 11,434 shares held by Mr Topping's spouse.
The awards were made by utilising the 32,780 unallocated Ordinary Shares in the B.P. Marsh SIP Trust which had been transferred from Treasury to the B.P. Marsh SIP Trust on 5th April 2023.
| For further information:
| |
| B.P. Marsh & Partners Plc Brian Marsh OBE | +44 (0)20 7233 3112
|
| Panmure Gordon (UK) Limited Atholl Tweedie / Stephen Jones / Amrit Mahbubani / Ailsa MacMaster
| +44 (0)20 7886 2500 |
| Tavistock Communications Limited Simon Hudson / Tim Pearson | +44 (0)20 7920 3150 |
The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
| a) | Name | Alice Foulk | ||||||
| 2 | Reason for notification | |||||||
| a) | Position / status | Managing Director (PDMR) | ||||||
| b) | Initial notification / amendment | Initial | ||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a) | Name | B.P. Marsh & Partners Plc | ||||||
| b) | LEI | 2138008G8EPE3HAHEM13 | ||||||
| 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 | Ordinary shares of 10 pence each | ||||||
| | Identification code | ISIN: GB00B0XLRJ79 | ||||||
| b) | Nature of the transaction | Grant of ordinary shares pursuant to the Company's SIP | ||||||
| c) | Price(s) and volumes(s) |
| ||||||
| d) | Aggregated information | N/A (single transaction) | ||||||
| e) | Date of the transaction | 2023-04-17 | ||||||
| f) | Place of the transaction | London Stock Exchange, AIM (XLON) | ||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
| a) | Name | Daniel Topping | ||||||
| 2 | Reason for notification | |||||||
| a) | Position / status | Chief Investment Officer (PDMR) | ||||||
| b) | Initial notification / amendment | Initial | ||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a) | Name | B.P. Marsh & Partners Plc | ||||||
| b) | LEI | 2138008G8EPE3HAHEM13 | ||||||
| 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 | Ordinary shares of 10 pence each | ||||||
| | Identification code | ISIN: GB00B0XLRJ79 | ||||||
| b) | Nature of the transaction | Grant of ordinary shares pursuant to the Company's SIP | ||||||
| c) | Price(s) and volumes(s) |
| ||||||
| d) | Aggregated information | N/A (single transaction) | ||||||
| e) | Date of the transaction | 2023-04-17 | ||||||
| f) | Place of the transaction | London Stock Exchange, AIM (XLON) | ||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
| a) | Name | Jonathan Newman | ||||||
| 2 | Reason for notification | |||||||
| a) | Position / status | Group Finance Director (PDMR) | ||||||
| b) | Initial notification / amendment | Initial | ||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a) | Name | B.P. Marsh & Partners Plc | ||||||
| b) | LEI | 2138008G8EPE3HAHEM13 | ||||||
| 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 | Ordinary shares of 10 pence each | ||||||
| | Identification code | ISIN: GB00B0XLRJ79 | ||||||
| b) | Nature of the transaction | Grant of ordinary shares pursuant to the Company's SIP | ||||||
| c) | Price(s) and volumes(s) |
| ||||||
| d) | Aggregated information | N/A (single transaction) | ||||||
| e) | Date of the transaction | 2023-04-17 | ||||||
| f) | Place of the transaction | London Stock Exchange, AIM (XLON) | ||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
| a) | Name | Sinead O'Haire | ||||||
| 2 | Reason for notification | |||||||
| a) | Position / status | Chief Legal Officer & Group Company Secretary (PDMR) | ||||||
| b) | Initial notification / amendment | Initial | ||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a) | Name | B.P. Marsh & Partners Plc | ||||||
| b) | LEI | 2138008G8EPE3HAHEM13 | ||||||
| 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 | Ordinary shares of 10 pence each | ||||||
| | Identification code | ISIN: GB00B0XLRJ79 | ||||||
| b) | Nature of the transaction | Grant of ordinary shares pursuant to the Company's SIP | ||||||
| c) | Price(s) and volumes(s) |
| ||||||
| d) | Aggregated information | N/A (single transaction) | ||||||
| e) | Date of the transaction | 2023-04-17 | ||||||
| f) | Place of the transaction | London Stock Exchange, AIM (XLON) | ||||||
Notes to Editors:
B.P. Marsh's current portfolio contains fifteen companies. More detailed descriptions of the portfolio can be found at www.bpmarsh.co.uk.
Since formation over 30 years ago, the Company has assembled a management team with considerable experience both in the financial services sector and in managing private equity investments. Many of the directors have worked with each other in previous roles, and all have worked with each other for approaching ten years.
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