TIDMNBB
RNS Number : 4772H
Norman Broadbent PLC
28 July 2023
Norman Broadbent plc
("Norman Broadbent or the "Company")
Grant of Options
and
Director/PDMR Shareholding
Norman Broadbent (AIM: NBB), a leading London quoted Executive
Search and Interim Management firm offering a diversified portfolio
of integrated Leadership Acquisition & Advisory Services,
announces that, on 28 July 2023 (the "Date of Grant"), it granted
options over, in aggregate, 4,148,148 ordinary shares of GBP0.01
each ("Ordinary Shares") in the Company ("Options") to both
Executive Directors and certain employees (the "Grant") under its
Enterprise Management Incentive Option Scheme 2022 (the "Scheme").
The Options are exercisable at nil pence per Ordinary Share.
The Options granted under the Scheme vest over a 3-year period
(25 per cent. of the Grant are deemed to have vested on 18 March
2023*). Once vested, the Options can be exercised within 7 years of
the Date of Grant date subject to the following two sets of
performance criteria:
-- 50 per cent. of the vested Options are exercisable on a
scaled basis following the price of an Ordinary Share achieving an
average of between 10p and 19p over any three-month period prior to
30 June 2026 ("Share Price Vesting Options"); and
-- The remaining 50 per cent. of the vested Options are
exercisable on a scaled basis following the achievement by the
Company of audited EBITDA in the range of greater than GBP500,000
to GBP1,250,000 in any financial year from the Date of Grant to 31
December 2025 ("EBITDA Vesting Options").
The following table sets out details of the Options that have
been granted to the Executive Directors and one person discharging
managerial responsibilities ("PDMR"):
Percentage Percentage
of the of the
Number Number Total Total Company's Company's
of Share of EBITDA Number Number Existing Fully
Name of Price Vesting of Options of Options Issued Diluted
Individual Director/PDMR Vesting Options granted held Shares Share
Options granted following Under Capital
granted Grant Option held**
held
Kevin Davidson CEO 299,076 299,072 598,148 2,548,148 4.1% 3.4%
Mehr Malik CFO 850,000 850,000 1,700,000 1,700,000 2.8% 2.3%
COO and
Sean Bergin PDMR 125,000 125,000 250,000 1,700,000 2.8% 2.3%
---------------- ---------------- ----------- ------------ ------------- -------------- ----------- -----------
Total 1,274,076 1,274,072 2,548,148 5,948,148 9.7% 8.0%
*anniversary of original grant of options
**assuming that no further Ordinary Shares are issued between
the date of this announcement and the exercise of the Options.
In addition, a further 1,600,000 options over Ordinary Shares
have been granted to certain of the Company's employees.
Following the Grant, there are 12,148,148 options over Ordinary
Shares outstanding representing 19.7 per cent. of the Company's
issued share capital. At the date of this announcement, the Company
has 61,817,543 Ordinary Shares in issue.
The FCA notification, made in accordance with the requirements
of the UK Market Abuse Regulation is appended further below.
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 Kevin Davidson CEO
Mehr Malik CFO
Sean Bergin COO
------------------------- ---------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status See 1a) above
------------------------- ---------------------------------------------
b) Initial notification Initial notification
/Amendment
------------------------- ---------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Norman Broadbent Plc
------------------------- ---------------------------------------------
b) LEI 213800E5YN5TA934XA23
------------------------- ---------------------------------------------
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 Options over ordinary shares of GBP0.01
the financial each in Norman Broadbent Plc
instrument, type Identification code (ISIN) for Norman
of instrument Broadbent Plc ordinary shares: GB00B3VF4Y66
Identification
code
------------------------- ---------------------------------------------
b) Nature of the Grant of options
transaction
------------------------- ---------------------------------------------
c) Price(s) and volume(s) Name Price(s) Volume(s)
Kevin Davidson nil 598,148
Mehr Malik nil 1,700,000
Sean Bergin nil 250,000
------------------------- ---------------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
------------------------- ---------------------------------------------
e) Date of the transactions Options put in place as of 28 July 2023
------------------------- ---------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------- ---------------------------------------------
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.
For further information, please contact:
Norman Broadbent plc +44 (0) 20 7484 0000
Kevin Davidson, CEO
Mehr Malik, CFO
Shore Capital (Nominated Adviser and Broker) 020 7408 4090
Tom Griffiths / Tom Knibbs (Corporate Advisory)
Henry Willcocks (Corporate Broking)
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END
DSHBLGDRBSDDGXR
(END) Dow Jones Newswires
July 28, 2023 02:00 ET (06:00 GMT)
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