TIDMAFM
RNS Number : 9790E
Alpha Fin Markets Consulting plc
05 July 2023
5 July 2023
Alpha Financial Markets Consulting plc
(' Alpha FMC ', 'Alpha', the 'Company' or ' Group ')
Issue of new shares, grant of incentive awards, PDMR dealing
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 the Company has made a grant
of staff incentive awards under the Company's Management Incentive
Plan ("MIP").
On 4 July 2023, the Company granted 2,729,582 awards under its
MIP to its management team globally, comprising 1,197,391 UK Joint
Share Ownership Plan awards ("JSOP Shares") and 1,532,191 MIP share
options ("MIP Awards").
These JSOP Shares and MIP Awards (i) have a nominal or nil
consideration, (ii) will vest after three 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, divisional or
Group FY 24 budgetary performance targets, (ii) individual sales,
delivery excellence and behavioural targets (iii) total shareholder
return of a basket of comparable companies over three years, as
applicable.
Following the 2,729,582 MIP Awards and JSOP Shares awarded on 4
July 2023, the Company will have 11,907,505 unvested MIP and JSOP
Shares outstanding in total. The total unvested MIP options and
JSOP Shares outstanding represent approximately 9.76% of the issued
share capital of the Company, of which approximately 2.24% was
awarded on 4 July 2023. Approximately 2.9m awards granted in July
2020 will vest in late July 2023.
As set out in the Company's AIM Admission Document, no more than
10% of the total share capital of the Company from time to time
shall be subject to unvested JSOP Shares, Options and Restricted
Stock Unit ("RSU") awards that are granted under the MIP.
Of the 4 July 2023 MIP Awards, 201,005 have been granted to Luc
Baqué and 87,939 have been granted to John Paton, both persons
discharging managerial responsibilities ("PDMRs"). In addition, Luc
Baqué has been granted a further 179,487 MIP awards in relation to
FY 23, deferred from last year to comply with the requirements of
the French MIP rules to which he was previously subject.
A total of 1,500,000 ordinary shares of 0.075 pence per share in
the Company ("New Ordinary Shares") will be issued by the Company
to the Employee Benefit Trust (" EBT"), of which 1,197,391 will be
used for the JSOP Shares and 302,609 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 ("Admission"). It is expected that Admission will
become effective and that trading in the New Ordinary Shares will
commence on or around 11 July 2023.
Following Admission, the total number of voting rights in the
Company is 122,009,736. This figure includes the 7,509,182 Ordinary
Shares currently held in the EBT as these Ordinary Shares hold
voting rights albeit the EBT does not exercise these voting rights
nor receive dividends in respect of these shares. Therefore,
currently 114,500,554 Ordinary Shares have exercisable voting
rights and the Group's earnings per share calculation excludes
these 7,509,182 Ordinary Shares held by the EBT.
This figure 122,009,736 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.
Following the grant of the MIP awards and Admission, Luc Baqué
holds 839,678 MIP options and he and his immediate family are
beneficially interested in 1,223,114 Ordinary Shares representing
1.00% of the Company's total voting rights. Also, further to the
grant of the MIP awards, John Paton holds 375,337 MIP options and
JSOP Shares and he and his immediate family are beneficially
interested in 158,741 Ordinary Shares representing 0.13% of the
Company's total voting rights.
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 Luc Baqué
Reason for the notification
2
a) Position/status 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 201,005
Nil 179,487
d) Aggregated information As above
Date of the transaction 4 July 2023
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 87,939
d) Aggregated information As above
Date of the transaction 4 July 2023
f) Place of the transaction Outside a trading venue
E nquiries :
For further information, please contact:
Alpha Financial Markets Consulting plc +44 (0)20 7796 9300
Luc Baqué (Chief Executive Officer)
John Paton (Chief Financial Officer)
Investec Bank plc - Nominated Adviser and Joint Corporate Broker +44 (0)20 7597 4000
Patrick Robb
James Rudd
Harry Hargreaves
Berenberg - Joint Corporate Broker +44 (0)20 3207 7800
Toby Flaux
James Thompson
Alix Mecklenburg-Solodkoff
Camarco - Financial PR +44 (0)20 3757 4980
Ed Gascoigne-Pees
Phoebe Pugh
Prism Cosec - Company Secretary +44 (0)7581 053148
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.
It has the largest dedicated team in those industries, with
approximately 1,000 consultants globally, operating from 17
client-facing offices spanning the UK, North America, Europe and
APAC. Alpha has worked with all of the world's top 20 and 80% of
the world's top 50 asset managers by AUM, along with a wide range
of insurance and other buy-side firms.
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