TIDMKEYS
RNS Number : 2957D
Keystone Law Group PLC
20 June 2023
20 June 2023
Keystone Law Group Plc
('Keystone Law', the 'Group' or the 'Company')
Director / PDMR shareholding
Keystone Law Group plc (AIM: KEYS ), the network and
tech-enabled challenger law firm, announces that the following
awards have been granted over ordinary shares in the capital of the
Company under the Keystone Law Long Term Incentive Plan 2018
('LTIP' ).
Name Number of Shares subject
to variation
Ashley Miller (Executive Director,
Finance Director) 31,942
William Robins (PDMR) 31,942
The LTIP Awards have been granted as performance share awards
and will vest on the third anniversary of their grant subject to
the grantee's continued employment and to the extent to which the
adjusted Earnings Per Share ('EPS') and Relative Total Shareholder
Return ('TSR') performance conditions set out in the LTIP Award are
met.
80% of the LTIP Awards will be assessed on growth in adjusted
EPS over the three-year period, with compound annual growth
('CAGR') of less than 1.9% delivering none of this element of the
LTIP Award, 1.9% CAGR delivering 20% of this element of the LTIP
Award and 100% of this element being granted for delivery of 4.6%
CAGR in adjusted EPS over the three-year period. These reflect the
impact of the increase in UK corporation tax rate, which means that
to achieve 100% of the EPS element, the CAGR of adjusted PBT over
the three year period needs to be c8.5%. The Remuneration Committee
retains the right to make appropriate amendments to these in the
event of a material change to the corporation tax rate during the
vesting period.
20% of the LTIP Awards will be assessed on the TSR of the
Company over the three-year period relative to that of those
companies included in the FTSE Fledgling Index throughout the
Performance Period; with 100% being awarded for performance in the
top quartile, 50% for performance in the second quartile and
nothing awarded for performance below the median.
In addition, the recipients of the LTIP Awards will be required
to retain shares awarded under the LTIP awards for one year from
the vesting date subject to the ability to sell sufficient shares
to discharge any tax liability.
Set out below are the notifications, made in accordance with the
requirements of the Market Abuse Regulation, in relation to the
variation of the LTIP Awards.
PDMR DEALING NOTIFICATION TEMPLATE
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
Details of the person discharging managerial responsibilities/person
1 closely associated
---------------------------------------------------------------------------------------------------
a) Name Ashley Rupert James Patrick Miller
----------------------------------------- --------------------------------------------------------
Reason for the notification
2
---------------------------------------------------------------------------------------------------
a) Position/status Finance Director
----------------------------------------- --------------------------------------------------------
b) Initial notification Initial
/Amendment
----------------------------------------- --------------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------------------------
a) Name Keystone Law Group plc
----------------------------------------- --------------------------------------------------------
b) Legal Entity 213800RTARHELL51S215
Identifier
----------------------------------------- --------------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary shares of GBP0.002 each in Keystone
the financial Law Group plc
instrument, type
of instrument
----------------------------------------- --------------------------------------------------------
Identification GB00BZ020557
code
----------------------------------------- --------------------------------------------------------
b Nature of the Grant of LTIP Award under the Keystone Law
1) transaction Long Term Incentive Plan. The Award is structured
as a performance share award which shall ordinarily
vest on the third anniversary of its grant
date subject to continued service and to the
extent to which the performance conditions
set for the Award are satisfied.
----------------------------------------- --------------------------------------------------------
c Price(s) and Price(s) Volume(s)
1) volume(s)
----------------------------------------- ------------------------- -----------------------------
Nil 31,942
--------------------------------------------------------------------------- -----------------------------
b Nature of the
2) transaction
-------------------------------------------------------------------- -----------------------------
c Price(s) and Price(s) Volume(s)
2) volume(s)
----------------------------------------- ------------------------- -----------------------------
d) Aggregated information
--------------------------------------------------------------------
- Aggregated
volume
--------------------------------------------------------------------
- Price Not applicable single transaction
----------------------------------------- ----------------------------------------------------------------
e) Date of the transaction
19 June 2023
----------------------------------------- --------------------------------------------------------
f) Place of the
transaction London
----------------------------------------- --------------------------------------------------------
PDMR DEALING NOTIFICATION TEMPLATE
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
Details of the person discharging managerial responsibilities/person
1 closely associated
---------------------------------------------------------------------------------------------------
a) Name William Robins
----------------------------------------- --------------------------------------------------------
Reason for the notification
2
---------------------------------------------------------------------------------------------------
a) Position/status PDMR
----------------------------------------- --------------------------------------------------------
b) Initial notification Initial
/Amendment
----------------------------------------- --------------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------------------------
a) Name Keystone Law Group plc
----------------------------------------- --------------------------------------------------------
b) Legal Entity 213800RTARHELL51S215
Identifier
----------------------------------------- --------------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Ordinary shares of GBP0.002 each in Keystone
the financial Law Group plc
instrument, type
of instrument
----------------------------------------- --------------------------------------------------------
Identification GB00BZ020557
code
----------------------------------------- --------------------------------------------------------
b Nature of the Grant of LTIP Award under the Keystone Law
1) transaction Long Term Incentive Plan. The Award is structured
as a performance share award which shall ordinarily
vest on the third anniversary of its grant
date subject to continued service and to the
extent to which the performance conditions
set for the Award are satisfied.
----------------------------------------- --------------------------------------------------------
c Price(s) and Price(s) Volume(s)
1) volume(s)
----------------------------------------- ------------------------- -----------------------------
Nil 31,942
--------------------------------------------------------------------------- -----------------------------
b Nature of the
2) transaction
-------------------------------------------------------------------- -----------------------------
c Price(s) and Price(s) Volume(s)
2) volume(s)
----------------------------------------- ------------------------- -----------------------------
d) Aggregated information
--------------------------------------------------------------------
- Aggregated
volume
--------------------------------------------------------------------
- Price Not applicable single transaction
----------------------------------------- ----------------------------------------------------------------
e) Date of the transaction
19 June 2023
----------------------------------------- --------------------------------------------------------
f) Place of the
transaction London
----------------------------------------- --------------------------------------------------------
-ENDS-
For further information please contact:
Keystone Law Group plc
James Knight, Chief Executive Officer
Ashley Miller, Finance Director
www.keystonelaw.com
+44 (0) 20 3319 3700
Panmure Gordon (UK) Limited (Nominated Adviser and Joint
Broker)
Dominic Morley (Corporate Finance)
Rupert Dearden (Corporate Broking)
www.panmure.com
+44 (0) 20 7886 2500
Investec Bank plc (Joint Broker)
Carlton Nelson
James Rudd
www.investec.co.uk
+44 (0) 20 7597 5970
Vigo Consulting (Financial Public Relations)
Jeremy Garcia / Charlie Neish / Kate Kilgallen
keystonelaw@vigoconsulting.com
+44 (0)207 390 0233
Notes to editors
Keystone Law (AIM: KEYS), is an award-winning, UK Top 100, law
firm, providing conventional legal services in a GBP10bn
addressable market through its scalable and unique model, with
three defining characteristics:
-- Lawyers have freedom, flexibility and autonomy, and are paid up to 75% of what they bill.
-- Lawyers determine how, when and where they work, in contrast
to the conventional law firm model.
-- Lawyers are provided full infrastructure and support via its
central office team, bespoke user-friendly IT platform, and network
of colleagues and events.
Keystone Law is a full-service law firm, with 20 service areas
and more than 50 industry sectors delivered by nearly 400 high
calibre self-employed Principal lawyers who work from their own
offices.
In November 2020, Keystone Law was named Law Firm of the Year by
The Lawyer, the first time a 'new' law firm has won the award.
More information about Keystone can be found at
www.keystonelaw.co.uk .
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END
DSHGIGDLBSDDGXG
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