Business
Grant of Share Awards, Share Options and TVR
Grant of Share Awards, Share Options and TVR.
About this update from Gateley (holdings) Plc
[{"type":"text","content":"\n \n \n \n 23 February 2023\n \n \n \n \n \n \n GATELEY (HOLDINGS) PLC\n \n \n (\"Gateley\" or the \"Group\" or the \"Company\")\n \n \n \n (AIM: GTLY)\n \n \n \n \n \n \n \n \n GRANT OF SHARE AWARDS, SHARE OPTIONS AND TOTAL VOTING RIGHTS\n \n \n \n \n \n Gateley, the legal and professional services group, is pleased to announce its latest grant of annual share awards and awards under the Long-Term Incentive Plan to partners, senior employees, subsidiary company directors and PDMRs.\n \n \n \n \n \n Both Restricted Share Awards (\"RSAs\") and Long-Term Incentive Plan awards (\"LTIPs\") form part of the Group's retention and incentivisation policy. It is a continuation of the board's strategy to differentiate the position of a partner or director at Gateley from that of a partner in traditionally structured professional services businesses.\n \n \n \n \n \n The board is committed to providing its people with the opportunity to own shares in the Company. Such share ownership promotes strong alignment with the Group's external shareholders, incentivises employees and is reflective of Gateley's long-established culture. At least 64% of current employees are existing share or option holders in the Group.\n \n \n \n \n \n The RSAs, which vest on receipt, are subject to a five-year non-dealing restriction and are forfeited should employment be terminated within that period.\n \n \n \n \n \n LTIP awards over 1,320,000 Ordinary Shares of 10 pence each in the Company (\"Ordinary Shares\") have also been awarded today. LTIP awards vest at the end of a three-year period, dependent upon the achievement of profit related performance conditions and continuous employment. Details of these performance conditions can be found in the Group's annual report.\n \n \n \n \n \n The Gateley Employee Benefit Trust (\"EBT\") has also made an award to a director for outstanding contribution over an extended period, which will be satisfied from the EBT.\n \n \n \n \n \n Issue of new Ordinary Shares and total voting rights\n \n \n \n \n \n The board has agreed to allot and issue 1,175,000 Ordinary Shares to the EBT for the onward allocation to recipients of the RSA awards.\n \n \n \n \n \n Application will be made to the London Stock Exchange for the 1,175,000 new Ordinary S...