TIDMCSFS
RNS Number : 7749T
Cornerstone FS PLC
17 November 2023
17 November 2023
Cornerstone FS plc
("Cornerstone" or "the Company" or "the Group")
Grant and Cancellation of Options; PDMR Dealings
Cornerstone FS plc (AIM: CSFS), a foreign exchange and payments
solutions company offering multi-currency accounts to businesses
and individuals through its proprietary technology platform,
announces the grant of options over ordinary shares of 1 penny each
in the Company ("Ordinary Shares") and the cancellation of certain
existing options over Ordinary Shares. This includes the grant of
options to, and cancellation of options held by, Executive
Directors and PDMRs of the Company.
Grant of Options
The Company has granted, on 16 November 2023 (the "Grant Date"),
a total of 870,000 options over Ordinary Shares of the Company
("Options") to certain employees including an Executive Director
and two PDMRs of the Company under the Company's Enterprise
Management Incentive ("EMI") Scheme. Options over a total of
540,000 shares have been granted to an Executive Director and PDMRs
as follows:
Name Role Number of Options
granted
Chief Information Officer (Executive
William Newton Director) 240,000
-------------------------------------- ------------------
Arindam Ray Chief Technology Officer (PDMR) 120,000
-------------------------------------- ------------------
Head of Compliance and MLRO
Joshua Best (PDMR) 180,000
-------------------------------------- ------------------
The Options vest in three equal tranches on the first, second
and third anniversaries of the Grant Date and are exercisable at a
price of 12 pence per share, representing the closing price of the
Company's Ordinary Shares on AIM on 15 November 2023, being the day
prior to the Grant Date. The Options are subject to the individual
remaining an employee of the Company. Leavers may exercise vested
Options within 90 days of cessation of employment. All Options
expire five years after the Grant Date.
Cancellation of Options
The Company has, on 16 November 2023, cancelled the following
options over Ordinary Shares held by an Executive Director and a
PDMR as follows (with the holders of the options agreeing to their
cancellation with immediate effect):
Name Role Number of Number of options Exercise price
options cancelled held following of options held
the cancellation
of options
Chief Financial
Officer (Executive
Judy Happe Director) 404,660 550,000 10.0p
--------------------- ------------------- ------------------ -----------------
Chief Operating
Jordanna Officer
Curtis (PDMR) 114,755 200,000 10.0p
--------------------- ------------------- ------------------ -----------------
This cancellation of options, for nil consideration, follows
grants of options to the above-named Executive Director and PDMR as
disclosed in the Company's announcement of 16 January 2023.
Following the above grants and cancellations of options, the
Company now has options outstanding over a total of 4,857,736
Ordinary Shares, representing 8.5% of the current issued share
capital of the Company.
Enquiries
Cornerstone FS plc +44 (0)203 971 4865
James Hickman, Chief Executive Officer
Judy Happe, Chief Financial Officer
SPARK Advisory Partners Limited (Nomad) +44 (0)203 368 3550
Mark Brady, Adam Dawes
Shore Capital (Broker) +44 (0)207 408 4090
Daniel Bush, Tom Knibbs (Corporate
Advisory)
Guy Wiehahn (Corporate Broking)
Gracechurch Group (Financial PR) +44 (0)204 582 3500
Harry Chathli, Claire Norbury
About Cornerstone FS plc
Cornerstone FS plc (AIM: CSFS) is a foreign exchange and
payments company offering multi-currency accounts and payment
solutions to businesses and individuals. Headquartered in the City
of London, Cornerstone combines a proprietary technology platform
with a high level of personalised service to support clients with
payments in over 150 countries in 58 currencies. With a track
record of over 12 years, Cornerstone has the expertise, experience
and expanding global partner network to be able to execute complex
cross-border payments. It is fully regulated by the Financial
Conduct Authority as an Electronic Money Institution.
www.cornerstonefs.com
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 Newton
-------------------------------------------- ----------------------------------------------
Reason for the notification
2
--------------------------------------------------------------------------------------------
a) Position/status Chief Information Officer
-------------------------------------------- ----------------------------------------------
b) Initial notification/amendment Initial Notification
-------------------------------------------- ----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------------
a) Name Cornerstone FS plc
-------------------------------------------- ----------------------------------------------
b) LEI 213800O4IL2RXZ2BZ956
-------------------------------------------- ----------------------------------------------
Details of the transaction(s): section to be repeated
4 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 Options over ordinary shares of 1 penny
financial instrument, each
type of instrument
Identification code GB00BNG7CD28
b) Nature of the transaction Grant of options
-------------------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
--------------------- --------------------
Price(s) Volume(s)
--------------------- --------------------
12 pence 240,000
------------------------------------------------------------------------ --------------------
d) Aggregated information
- Aggregated volume N/A
- Price N/A
e) Date of the transaction 16 November 2023
-------------------------------------------- ----------------------------------------------
f) Place of the transaction Off market
-------------------------------------------- ----------------------------------------------
Details of the person discharging managerial responsibilities/person
1 closely associated
a) Name Arindam Ray
-------------------------------------------- ----------------------------------------------
Reason for the notification
2
--------------------------------------------------------------------------------------------
a) Position/status Chief Technology Officer
-------------------------------------------- ----------------------------------------------
b) Initial notification/amendment Initial Notification
-------------------------------------------- ----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------------
a) Name Cornerstone FS plc
-------------------------------------------- ----------------------------------------------
b) LEI 213800O4IL2RXZ2BZ956
-------------------------------------------- ----------------------------------------------
Details of the transaction(s): section to be repeated
4 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 Options over ordinary shares of 1 penny
financial instrument, each
type of instrument
Identification code GB00BNG7CD28
b) Nature of the transaction Grant of options
-------------------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
--------------------- --------------------
Price(s) Volume(s)
--------------------- --------------------
12 pence 120,000
------------------------------------------------------------------------ --------------------
d) Aggregated information
- Aggregated volume N/A
- Price N/A
e) Date of the transaction 16 November 2023
-------------------------------------------- ----------------------------------------------
f) Place of the transaction Off market
-------------------------------------------- ----------------------------------------------
Details of the person discharging managerial responsibilities/person
1 closely associated
a) Name Joshua Best
-------------------------------------------- ----------------------------------------------
Reason for the notification
2
--------------------------------------------------------------------------------------------
a) Position/status Head of Compliance and MLRO
-------------------------------------------- ----------------------------------------------
b) Initial notification/amendment Initial Notification
-------------------------------------------- ----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------------
a) Name Cornerstone FS plc
-------------------------------------------- ----------------------------------------------
b) LEI 213800O4IL2RXZ2BZ956
-------------------------------------------- ----------------------------------------------
Details of the transaction(s): section to be repeated
4 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 Options over ordinary shares of 1 penny
financial instrument, each
type of instrument
Identification code GB00BNG7CD28
b) Nature of the transaction Grant of options
-------------------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
--------------------- --------------------
Price(s) Volume(s)
--------------------- --------------------
12 pence 180,000
------------------------------------------------------------------------ --------------------
d) Aggregated information
- Aggregated volume N/A
- Price N/A
e) Date of the transaction 16 November 2023
-------------------------------------------- ----------------------------------------------
f) Place of the transaction Off market
-------------------------------------------- ----------------------------------------------
Details of the person discharging managerial responsibilities/person
1 closely associated
a) Name Judy Happe
------------------------------------------- ----------------------------------------------
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 Cornerstone FS plc
------------------------------------------- ----------------------------------------------
b) LEI 213800O4IL2RXZ2BZ956
------------------------------------------- ----------------------------------------------
Details of the transaction(s): section to be repeated
4 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 Options over ordinary shares of 1 penny
financial instrument, each
type of instrument
Identification code GB00BNG7CD28
b) Nature of the transaction Cancellation of options
------------------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
---------------------- -------------------
Price(s) Volume(s)
---------------------- -------------------
50.0 pence 276,803
------------------------------------------------------------------------ -------------------
36.2 pence 127,857
------------------------------------------------------------------------ -------------------
d) Aggregated information
- Aggregated volume 404,660
- Price 45.6 pence
e) Date of the transaction 16 November 2023
------------------------------------------- ----------------------------------------------
f) Place of the transaction Off market
------------------------------------------- ----------------------------------------------
Details of the person discharging managerial responsibilities/person
1 closely associated
a) Name Jordanna Curtis
------------------------------------------- ----------------------------------------------
Reason for the notification
2
-------------------------------------------------------------------------------------------
a) Position/status Chief Operating Officer
------------------------------------------- ----------------------------------------------
b) Initial notification/amendment Initial Notification
------------------------------------------- ----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------------
a) Name Cornerstone FS plc
------------------------------------------- ----------------------------------------------
b) LEI 213800O4IL2RXZ2BZ956
------------------------------------------- ----------------------------------------------
Details of the transaction(s): section to be repeated
4 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 Options over ordinary shares of 1 penny
financial instrument, each
type of instrument
Identification code GB00BNG7CD28
b) Nature of the transaction Cancellation of options
------------------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
---------------------- -------------------
Price(s) Volume(s)
---------------------- -------------------
61.0 pence 114,755
------------------------------------------------------------------------ -------------------
d) Aggregated information
- Aggregated volume N/A
- Price N/A
e) Date of the transaction 16 November 2023
------------------------------------------- ----------------------------------------------
f) Place of the transaction Off market
------------------------------------------- ----------------------------------------------
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END
DSHDZMMMZNZGFZG
(END) Dow Jones Newswires
November 17, 2023 02:00 ET (07:00 GMT)
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