TIDMKEYS
RNS Number : 1348X
Keystone Law Group PLC
30 April 2021
30 April 2021
Keystone Law Group plc
('Keystone' or the 'Group' or 'Company')
Director / PDMR shareholding
Resilient financial performance supported by a differentiated
& scalable business model
Keystone Law Group plc (AIM: KEYS), the fast growing, UK Top
100, challenger law firm, announces that the Remuneration Committee
approved the following variations to the performance criteria,
vesting and holding periods in respect of the award made in June
2019 over GBP0.002 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) 13,415
William Robins (PDMR) 13,415
The LTIP Awards were granted as performance share awards which
were due to vest on the third anniversary of their grant, subject
to the grantees' 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 Awards were met.
70% of the LTIP Awards are assessed on growth in adjusted EPS
over the vesting period. The original terms of the award were a
vesting period of three years, with 100% of this part of the award
vesting for compound annual growth in adjusted EPS over the
Performance Period ('EPS CAGR') of 26%, 20% of this part of the
award vesting for EPS CAGR of 15% and no part of this award vesting
for EPS CAGR of less than 15%. Under the terms of the variation,
the vesting period will now be four years, with the target EPS at
the end of that period remaining as per the original targets.
30% of the LTIP Awards are assessed on the TSR of the Company
over the vesting period. Following this variation, it will now be
assessed over a four year period from date of grant, relative to
that of those companies included in a basket of stocks 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 the after-tax value of any shares under the LTIP Awards
for one year from the vesting date.
Set out below are the notifications, made in accordance with the
requirements of the EU 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
1 Details of the person discharging managerial responsibilities/person
closely associated
--------------------------------------------------------------------------------
a) Name Ashley Rupert James Patrick Miller
-------------------------- ----------------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------
a) Position/status Finance Director
-------------------------- ----------------------------------------------------
b) Initial notification Amendment
/Amendment
-------------------------- ----------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------
a) Name Keystone Law Group plc
-------------------------- ----------------------------------------------------
b) Legal Entity 213800RTARHELL51S215
Identifier
-------------------------- ----------------------------------------------------
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 Ordinary shares of GBP0.002 each in Keystone
the financial Law Group plc
instrument, type
of instrument
-------------------------- ----------------------------------------------------
Identification GB00BZ020557
code
-------------------------- ----------------------------------------------------
b Nature of the Variation of the performance criteria, vesting
1) transaction period and holding period of the Award made
in June 2019. The vesting period of the Award
has been changed from 3 years to 4 years and
the performance criteria in respect of the
EPS element of the Award (that being 70% of
total) have been amended such that the original
target adjusted EPS to be achieved at the
end of the three year period is now to be
the target achieved after 4 years. The holding
period of the Award has been changed from
2 years to 1 year.
-------------------------- ----------------------------------------------------
c Price(s) and Price(s) Volume(s)
1) volume(s)
-------------------------- ----------------------- ---------------------------
Nil 13,415
-------------------------------------------------------- ---------------------------
b Nature of the
2) transaction
--------------------------------------------------- ---------------------------
c Price(s) and Price(s) Volume(s)
2) volume(s)
-------------------------- ------------------------ --------------------------
d) Aggregated information Not applicable single transaction
-------------------------- ----------------------------------------------------
- Aggregated
volume
--------------------------------------------------- ---- --------------------------
- Price
--------------------------------------------------- ---- --------------------------
e) Date of the transaction 29 April 2021
-------------------------- ----------------------------------------------------
f) Place of the London
transaction
-------------------------- ----------------------------------------------------
PDMR DEALING NOTIFICATION TEMPLATE
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 William Robins
-------------------------- ----------------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------
a) Position/status PDMR
-------------------------- ----------------------------------------------------
b) Initial notification Amendment
/Amendment
-------------------------- ----------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------
a) Name Keystone Law Group plc
-------------------------- ----------------------------------------------------
b) Legal Entity 213800RTARHELL51S215
Identifier
-------------------------- ----------------------------------------------------
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 Ordinary shares of GBP0.002 each in Keystone
the financial Law Group plc
instrument, type
of instrument
-------------------------- ----------------------------------------------------
Identification GB00BZ020557
code
-------------------------- ----------------------------------------------------
b Nature of the Variation of the performance criteria, vesting
1) transaction period and holding period of the Award made
in June 2019. The vesting period of the Award
has been changed from 3 years to 4 years and
the performance criteria in respect of the
EPS element of the Award (that being 70% of
total) have been amended such that the original
target adjusted EPS to be achieved at the
end of the three year period is now to be
the target achieved after 4 years. The holding
period of the Award has been changed from
2 years to 1 year.
-------------------------- ----------------------------------------------------
c Price(s) and Price(s) Volume(s)
1) volume(s)
-------------------------- ----------------------- ---------------------------
Nil 13,415
-------------------------------------------------------- ---------------------------
b Nature of the
2) transaction
--------------------------------------------------- ---------------------------
c Price(s) and Price(s) Volume(s)
2) volume(s)
-------------------------- ----------------------- ---------------------------
d) Aggregated information Not applicable single transaction
-------------------------- ----------------------------------------------------
- Aggregated
volume
--------------------------------------------------- ---- ---------------------------
- Price
--------------------------------------------------- ---- ---------------------------
e) Date of the transaction 29 April 2021
-------------------------- ----------------------------------------------------
f) Place of the London
transaction
-------------------------- ----------------------------------------------------
-ENDS-
For further information please contact:
Keystone Law Group plc
James Knight, Chief Executive Officer
Ashley Miller, Finance Director +44 (0) 20 3319
www.keystonelaw.com 3700
Panmure Gordon (UK) Limited (Nominated Adviser
and Joint Broker)
Dominic Morley (Corporate Finance)
Erik Anderson (Corporate Broking) +44 (0) 20 7886
www.panmure.com 2500
Investec Bank plc (Joint Broker)
Carlton Nelson
James Rudd
www.investec.co.uk
+44 (0) 20 7597
Media enquiries: 5970
FTI Consulting
Laura Ewart +44 (0)7711 387
Shiv Talwar 085
keystonelaw@fticonsulting.com
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 ("MAR").
Notes to editors
Keystone is an award-winning law firm, providing conventional
legal services to SMEs and high net worth individuals in a GBP9bn
addressable market.
Keystone has a scalable and unique model, with three defining
characteristics:
-- Our lawyers have freedom, flexibility and autonomy, and are
paid up to 75% of what they bill.
-- Our lawyers determine how, when and where they work, in
contrast to the conventional law firm model.
-- We offer lawyers full infrastructure and support via its
central office, bespoke user-friendly IT platform, and network of
colleagues and events.
Keystone is a full-service law firm, with 20 service areas and
more than 50 industry sectors delivered by over 350 high calibre
self-employed lawyers who work from their own offices.
In November 2020, Keystone 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 .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DSHBLGDSBDDDGBC
(END) Dow Jones Newswires
April 30, 2021 02:00 ET (06:00 GMT)
Keystone Law (LSE:KEYS)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Keystone Law (LSE:KEYS)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
