TIDMAFM
RNS Number : 1119R
Alpha Fin Markets Consulting plc
04 July 2022
4 July 2022
Alpha Financial Markets Consulting plc
(' Alpha FMC ', 'Alpha', the 'Company' or ' Group ')
Issue of new shares, grant of incentive awards, PDMR dealing,
RSU vesting
and total voting rights
Alpha FMC (AIM: AFM), a leading global provider of specialist
consultancy services to the asset management, wealth management and
insurance industries, announces that certain Restricted Stock Unit
("RSU") awards have vested and the Company has made a grant of
staff incentive awards under the Company's Management Incentive
Plan ("MIP").
Following the vesting of RSU awards under the MIP, the Company
will use 202,030 existing shares held in the Alpha Employee Benefit
Trust ("EBT") to satisfy these vested awards.
On 1 July 2022, the Company granted 3,138,309 awards under its
MIP to its management team globally, comprising 1,327,338 UK Joint
Share Ownership Plan awards ("JSOP Shares") and 1,810,971 MIP share
options. There will be no voting rights attached to the JSOP Shares
while they are held in the EBT .
These JSOP Shares and MIP share options (i) have a nominal or
nil consideration, (ii) will vest after three to five years, (iii)
have a 10 year term, and (iv) are subject to certain individual or
Group performance conditions. The performance conditions of the MIP
awards and JSOP Shares include: (i) relevant country or divisional
FY23 budgetary performance targets, (ii) individual sales, delivery
excellence and behavioural targets, and (iii) total shareholder
return of a basket of comparable companies over three years, as
applicable.
A total of 1,800,000 ordinary shares of 0.075 pence per share in
the Company ("New Ordinary Shares") will be issued by the Company
to the EBT, of which 1,327,338 will be used for the JSOP Shares and
472,662 will be held by the EBT for the satisfaction of future
share option awards. Application has been made for the New Ordinary
Shares, which will rank pari passu with the Company's existing
issued Ordinary Shares, to be admitted to trading on AIM. It is
expected that admission will become effective and that trading in
the New Ordinary Shares will commence on or around 7 July 2022.
Following the JSOP Shares and MIP share option awards, the
Company will have 11,880,891 unvested MIP and Employee Incentive
Plan ("EIP") share options and JSOP Shares outstanding in total,
representing approximately 9.86% of the issued share capital of the
Company. Within this total, 11,477,465 unvested MIP options and
JSOP Shares are outstanding, including the 3,138,309 MIP options
and JSOP Shares awarded on 1 July 2022. Total unvested MIP options
and JSOP Shares outstanding represent approximately 9.52% of the
issued share capital of the Company, of which approximately 2.60%
was awarded on 1 July 2022.
As set out in the Company's AIM Admission Document, no more than
10 per cent of the total share capital of the Company from time to
time shall be subject to unvested JSOP Shares, Options and RSUs
that are granted under the MIP.
Of the 1 July 2022 MIP award grants, 209,000 have been granted
to Euan Fraser and 76,923 have been granted to John Paton, both
persons discharging managerial responsibilities ("PDMRs").
Following the grant of the MIP awards, Euan Fraser holds 1,064,372
MIP options and JSOP Shares awards and he and his immediate family
are beneficially interested in 563,485 Ordinary Shares representing
0.50% of the Company's total voting rights. Also, further to the
grant of the MIP awards, John Paton holds 375,503 MIP options and
JSOP Shares and he and his immediate family are beneficially
interested in 91,772 Ordinary Shares representing 0.08% of the
Company's total voting rights.
Following the above vesting, share awards and share issuance and
subsequent to admission of the New Ordinary Shares, the Company
will have 120,507,336 Ordinary Shares in issue, of which 7,628,611
are held in the Company's Employee Benefit Trust. No shares are
held in treasury. The total number of voting rights in the Company
will therefore be 112,878,725. The above figure of 112,878,725 may
be used by shareholders in the Company as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change in their interest in, the
share capital of the Company under the FCA's Disclosure and
Transparency Rules.
The notifications below, made in accordance with the
requirements of Article 19 of the UK Market Abuse Regulation,
provide additional detail.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities (PDMR) and persons closely
associated with them (PCA)
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Euan Fraser
Reason for the notification
2
a) Position/status Global Chief Executive Officer
b) Initial notification/Amendment Initial Notification
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
a) Name Alpha Financial Markets Consulting plc
b) LEI 2138003XGYCLWLC7GF39
Details of the transaction(s): section to be repeated for (i)
4 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 Grant of share award over Ordinary Shares
financial instrument, of 0.075p each
type of instrument
Identification
code ISIN: GB00BF16C058
b) Nature of the transaction Share award granted under the Alpha Financial
Markets Consulting plc Management Incentive
Plan
Price and volume Price Volume
c) Nil 209,000
d) Aggregated information As above
Date of the transaction 1 July 2022
f) Place of the transaction Outside a trading venue
Notification and public disclosure of transactions by persons
discharging managerial responsibilities (PDMR) and persons closely
associated with them (PCA)
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name John Paton
Reason for the notification
2
a) Position/status Chief Financial Officer
b) Initial notification/Amendment Initial Notification
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
a) Name Alpha Financial Markets Consulting plc
b) LEI 2138003XGYCLWLC7GF39
Details of the transaction(s): section to be repeated for (i)
4 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 Grant of share award over Ordinary shares
financial instrument, of 0.075p each
type of instrument
Identification
code
ISIN: GB00BF16C058
b) Nature of the transaction Share award granted under the Alpha Financial
Markets Consulting plc Management Incentive
Plan
Price and volume Price Volume
c) GBP1 total
consideration 76,923
d) Aggregated information As above
Date of the transaction 1 July 2022
f) Place of the transaction Outside a trading venue
Enquiries :
For further information, please contact:
Alpha Financial Markets Consulting plc +44 (0)20 7796 9300
Euan Fraser ( Global Chief Executive Officer )
John Paton ( Chief Financial Officer )
Investec Bank plc - Nominated Adviser, Joint Corporate Broker +44 (0)20 7597 4000
Patrick Robb
James Rudd
Harry Hargreaves
Berenberg - Joint Corporate Broker +44 (0)20 3207 7800
Chris Bowman
Toby Flaux
Alix Mecklenburg-Solodkoff
Camarco - Financial PR +44 (0)20 3757 4980
Ed Gascoigne-Pees
Georgia Edmonds
Prism Cosec - Company Secretary +44 (0)7407 733 518
Sally Chandler
About Alpha FMC:
Headquartered in the UK and quoted on the AIM of the London
Stock Exchange, Alpha is a leading global provider of specialist
consultancy services to the asset management, wealth management and
insurance industries.
Alpha has worked with all of the world's top 20 and 76% of the
world's top 50 asset managers by AUM, along with a wide range of
other buy-side firms. It has the largest dedicated team in the
industry, with over 750 consultants globally, operating from 16
client-facing offices spanning the UK, North America, Europe and
APAC.
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