B.P. Marsh & Partners PLC Further Information re Share Option Plan (0183U)
20 Novembro 2023 - 9:35AM
UK Regulatory
TIDMBPM
RNS Number : 0183U
B.P. Marsh & Partners PLC
20 November 2023
20 November 2023
B.P. Marsh & Partners Plc
("B.P. Marsh" or the "Company")
Further information regarding Share Option Plan
Further to its announcement on 15 November 2023 and the details
contained in its half year results released on 17 October 2023,
B.P. Marsh, the specialist investor in early-stage financial
services businesses, announces further detail regarding the Share
Option Plan (the "Plan") and the recent granting of Share Options
("Options") over 1,682,500 ordinary shares of 10p each in the
Company, in aggregate, to 12 employees, including to Directors of
the Company. These awards recognise the roles and responsibilities
of key staff in implementing the Company's strategy and are
designed to appropriately incentivise these individuals.
Each of the Options will vest, on a ratchet basis, subject to
certain Net Asset Value ("NAV") growth targets being achieved for
the three consecutive financial years ending 31 January 2026
(together, the "Performance Period"). The first exercise date is 6
September 2026 whereby 50% of vested Options will be exercisable at
10p per share, with the remaining 50% exercisable at 10p per share
from 6 September 2027.
The number of Options which vest will vary depending on the
level of NAV growth achieved, subject to the growth performance
criteria as set out below, alongside the percentage of options that
will vest at each value:
NAV growth % vesting of
Options
< 8.5% Compound annual Growth
over the Performance Period 0%
-------------
8.5% Compound annual Growth
over the Performance Period 25%
-------------
9.25% Compound annual Growth
over the Performance Period 50%
-------------
10% Compound annual Growth over
Performance Period 100%
-------------
For these purposes, NAV is defined as "audited Total Assets less
Total Liabilities for the consolidated Group plus any dividends or
other form of shareholder return that are paid in the relevant
Financial Year".
Therefore, for all Options to vest, the Net Asset Value (as
defined above) would need to exceed GBP252.2m.
The total number of Options granted under the Plan represents
approximately 4.26% of the fully diluted shares outstanding.
For further information:
B.P. Marsh & Partners Plc www.bpmarsh.co.uk
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 bpmarsh@tavistock.co.uk
Simon Hudson / Tim Pearson / Katie Hopkins +44 (0)20 7920 3150
Notes to Editors:
B.P. Marsh's current portfolio contains fourteen 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.
- Ends -
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END
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