TIDMFNTL
RNS Number : 9560T
Fintel PLC
30 November 2021
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the company's obligations under Article 17 of MAR. Upon the
publication of this announcement via the Regulatory Information
Service, this inside information is now considered to be in the
public domain.
30 November 2021
Fintel plc
("Fintel" or the "Company")
Implementation of Value Builder Plan, and PDMR dealing
Fintel plc (AIM: FNTL) is pleased to announce the implementation
of its Value Builder Plan (" VB Plan ") and a number of initial
grants of awards under the VB Plan to colleagues. The VB Plan has
been created, following extensive consultation with many of the
Company's shareholders, to incentivise our executive and senior
teams to deliver long-term value creation for shareholders.
Closure of MIP scheme
The Management Incentive Plan (" MIP ") has been satisfied in
full via the allotment of shares (see RNS 0179S of 11 November 2021
for full details). No further awards will be made under the MIP and
the scheme is therefore closed.
New Value Builder Plan
The VB plan creates a distributable value pot (" Value Pot "),
the size of which is determined as being a fixed proportion of the
growth in the market capitalisation of the Company over three-year
performance periods. It is the intention to base the VB Plan on
annual awards ("Tranches"), and the first Tranche has a performance
period from 01 May 2021 to 30 April 2024.
The size of the Value Pot in any one Tranche is set at 5.5% of
the growth in market capitalisation achieved in the relevant
performance period.
In addition, the awards will be subject to a floor of Earnings
Per Share (EPS) growth, set by the Remuneration Committee
("RemCo").
The Value Pot for each Tranche will be allocated at the
discretion of RemCo, and will consist of each participant receiving
a fixed allocation of units ("Units"), from a total of 100 notional
Units. Any unallocated Units may be allocated later at RemCo's
discretion.
Each annual award will allow for up to a two-year vesting window
following the end of the respective performance period, and RemCo
will retain the authority to determine whether to make settlement
(which will be settled net of any income tax or national insurance
arising) in ordinary shares in Fintel plc ("Fintel Shares") or in
cash.
RemCo have full discretion to amend the terms of the VB Plan to
take account of, for example, corporate activities such as
acquisitions to ensure the performance targets remain
appropriate.
Award size and performance conditions
On 29 November 2021, the first awards were allocated under the
VB Plan (" Tranche 1 "). The value that will accrue under Tranche 1
is fixed at 5.5% of the growth in market capitalisation between 1
May 2021 and 30 April 2024.
42 Units were allocated to Directors in the amounts listed in
the table below and 40 Units were allocated to other PDMRs details
of which are in the disclosure tables further below. An additional
18 units were allocated amongst 18 key personnel within the Company
(non-PDMR's).
Director Role No of Units
Joint Chief Executive
Neil Stevens Officer 14
------------------------- ------------
Joint Chief Executive
Matt Timmins Officer 14
------------------------- ------------
David Thompson Chief Financial Officer 14
------------------------- ------------
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation as incorporated into UK law,
provides further detail.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Neil Stevens
=================================== ==================================
2 Reason for the notification
=======================================================================
a) Position/status Joint Chief Executive Officer
(PDMR)
=================================== ==================================
b) Initial notification/Amendment Initial notification
=================================== ==================================
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=======================================================================
a) Name Fintel plc
=================================== ==================================
b) LEI 213800DXP1VY21GCTH04
=================================== ==================================
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 Units convertible into ordinary
instrument, type of instrument shares of
1p each (Units)
Identification Code
ISIN: GB00BG1THS43
=================================== ==================================
b) Nature of the transaction Grant of Units
=================================== ==================================
c) Price(s) and volume(s) Price(s) Nil
Volume(s) 14 Units
=================================== ==================================
d) Aggregated information N/a - single transaction
=================================== ==================================
e) Date of transaction 29 November 2021
=================================== ==================================
f) Place of transaction Outside a trading venue
=================================== ==================================
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Matt Timmins
=================================== ==================================
2 Reason for the notification
=======================================================================
a) Position/status Joint Chief Executive Officer
(PDMR)
=================================== ==================================
b) Initial notification/Amendment Initial notification
=================================== ==================================
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=======================================================================
a) Name Fintel plc
=================================== ==================================
b) LEI 213800DXP1VY21GCTH04
=================================== ==================================
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 Units convertible into ordinary
instrument, type of instrument shares of
1p each (Units)
Identification Code
ISIN: GB00BG1THS43
=================================== ==================================
b) Nature of the transaction Grant of Units
=================================== ==================================
c) Price(s) and volume(s) Price(s) Nil
Volume(s) 14 Units
=================================== ==================================
d) Aggregated information N/a - single transaction
=================================== ==================================
e) Date of transaction 29 November 2021
=================================== ==================================
f) Place of transaction Outside a trading venue
=================================== ==================================
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name David Thompson
=================================== ==================================
2 Reason for the notification
=======================================================================
a) Position/status Chief Financial Officer (PDMR)
=================================== ==================================
b) Initial notification/Amendment Initial notification
=================================== ==================================
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=======================================================================
a) Name Fintel plc
=================================== ==================================
b) LEI 213800DXP1VY21GCTH04
=================================== ==================================
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 Units convertible into ordinary
instrument, type of instrument shares of
1p each (Units)
Identification Code
ISIN: GB00BG1THS43
=================================== ==================================
b) Nature of the transaction Grant of Units
=================================== ==================================
c) Price(s) and volume(s) Price(s) Nil
Volume(s) 14 Units
=================================== ==================================
d) Aggregated information N/a - single transaction
=================================== ==================================
e) Date of transaction 29 November 2021
=================================== ==================================
f) Place of transaction Outside a trading venue
=================================== ==================================
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Kyle Augustin
=================================== ==================================
2 Reason for the notification
=======================================================================
a) Position/status Fintel Chief Operating Officer
(PDMR)
=================================== ==================================
b) Initial notification/Amendment Initial notification
=================================== ==================================
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=======================================================================
a) Name Fintel plc
=================================== ==================================
b) LEI 213800DXP1VY21GCTH04
=================================== ==================================
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 Units convertible into ordinary
instrument, type of instrument shares of
1p each (Units)
Identification Code
ISIN: GB00BG1THS43
=================================== ==================================
b) Nature of the transaction Grant of Units
=================================== ==================================
c) Price(s) and volume(s) Price(s) Nil
Volume(s) 8 Units
=================================== ==================================
d) Aggregated information N/a - single transaction
=================================== ==================================
e) Date of transaction 29 November 2021
=================================== ==================================
f) Place of transaction Outside a trading venue
=================================== ==================================
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Daniel Russell
=================================== ==================================
2 Reason for the notification
=======================================================================
a) Position/status Managing Director, Distribution
Solutions (PDMR)
=================================== ==================================
b) Initial notification/Amendment Initial notification
=================================== ==================================
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=======================================================================
a) Name Fintel plc
=================================== ==================================
b) LEI 213800DXP1VY21GCTH04
=================================== ==================================
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 Units convertible into ordinary
instrument, type of instrument shares of
1p each (Units)
Identification Code
ISIN: GB00BG1THS43
=================================== ==================================
b) Nature of the transaction Grant of Units
=================================== ==================================
c) Price(s) and volume(s) Price(s) Nil
Volume(s) 8 Units
=================================== ==================================
d) Aggregated information N/a - single transaction
=================================== ==================================
e) Date of transaction 29 November 2021
=================================== ==================================
f) Place of transaction Outside a trading venue
=================================== ==================================
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Martin Reynolds
=================================== ==================================
2 Reason for the notification
=======================================================================
a) Position/status CEO Simply Biz Mortgages (PDMR)
=================================== ==================================
b) Initial notification/Amendment Initial notification
=================================== ==================================
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=======================================================================
a) Name Fintel plc
=================================== ==================================
b) LEI 213800DXP1VY21GCTH04
=================================== ==================================
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 Units convertible into ordinary
instrument, type of instrument shares of
1p each (Units)
Identification Code
ISIN: GB00BG1THS43
=================================== ==================================
b) Nature of the transaction Grant of Units
=================================== ==================================
c) Price(s) and volume(s) Price(s) Nil
Volume(s) 8 Units
=================================== ==================================
d) Aggregated information N/a - single transaction
=================================== ==================================
e) Date of transaction 29 November 2021
=================================== ==================================
f) Place of transaction Outside a trading venue
=================================== ==================================
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name John Milliken
=================================== ==================================
2 Reason for the notification
=======================================================================
a) Position/status CEO, Defaqto (PDMR)
=================================== ==================================
b) Initial notification/Amendment Initial notification
=================================== ==================================
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=======================================================================
a) Name Fintel plc
=================================== ==================================
b) LEI 213800DXP1VY21GCTH04
=================================== ==================================
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 Units convertible into ordinary
instrument, type of instrument shares of
1p each (Units)
Identification Code
ISIN: GB00BG1THS43
=================================== ==================================
b) Nature of the transaction Grant of Units
=================================== ==================================
c) Price(s) and volume(s) Price(s) Nil
Volume(s) 8 Units
=================================== ==================================
d) Aggregated information N/a - single transaction
=================================== ==================================
e) Date of transaction 29 November 2021
=================================== ==================================
f) Place of transaction Outside a trading venue
=================================== ==================================
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Matt West
=================================== ==================================
2 Reason for the notification
=======================================================================
a) Position/status Fintel Chief Revenue Officer
(PDMR)
=================================== ==================================
b) Initial notification/Amendment Initial notification
=================================== ==================================
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=======================================================================
a) Name Fintel plc
=================================== ==================================
b) LEI 213800DXP1VY21GCTH04
=================================== ==================================
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 Units convertible into ordinary
instrument, type of instrument shares of
1p each (Units)
Identification Code
ISIN: GB00BG1THS43
=================================== ==================================
b) Nature of the transaction Grant of Units
=================================== ==================================
c) Price(s) and volume(s) Price(s) Nil
Volume(s) 7 Units
=================================== ==================================
d) Aggregated information N/a - single transaction
=================================== ==================================
e) Date of transaction 29 November 2021
=================================== ==================================
f) Place of transaction Outside a trading venue
=================================== ==================================
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Vicky Williams
=================================== ==================================
2 Reason for the notification
=======================================================================
a) Position/status Fintel Company Secretary (PDMR)
=================================== ==================================
b) Initial notification/Amendment Initial notification
=================================== ==================================
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=======================================================================
a) Name Fintel plc
=================================== ==================================
b) LEI 213800DXP1VY21GCTH04
=================================== ==================================
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 Units convertible into ordinary
instrument, type of instrument shares of
1p each (Units)
Identification Code
ISIN: GB00BG1THS43
=================================== ==================================
b) Nature of the transaction Grant of Units
=================================== ==================================
c) Price(s) and volume(s) Price(s) Nil
Volume(s) 1 Unit
=================================== ==================================
d) Aggregated information N/a - single transaction
=================================== ==================================
e) Date of transaction 29 November 2021
=================================== ==================================
f) Place of transaction Outside a trading venue
=================================== ==================================
For further information please contact:
Fintel plc via Instinctif Partners
Matt Timmins (Joint Chief Executive Officer)
Neil Stevens (Joint Chief Executive Officer)
Zeus Capital (Nominated Adviser and Joint Broker) +44 (0) 20
3829 5000
Martin Green
Dan Bate
Pippa Hamnett
Investec Bank (Joint Broker) +44 (0) 20 7597 5095
Bruce Garrow
David Anderson
Harry Hargreaves
Instinctif Partners (Financial PR) +44 (0) 20 7457 2020
Mark Walter
fintel@instinctif.com
George Peele
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DSHBLBTTMTMTTRB
(END) Dow Jones Newswires
November 30, 2021 02:00 ET (07:00 GMT)
Fintel (LSE:FNTL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Fintel (LSE:FNTL)
Historical Stock Chart
From Apr 2023 to Apr 2024
