Business
Share Awards and Options, Issue of Equity and TVR
Share Awards and Options, Issue of Equity and TVR.
About this update from Gateley (holdings) Plc
[{"type":"text","content":"\n\n21 September 2023\n \nGATELEY (HOLDINGS) PLC\n(\"Gateley\" or the \"Group\" or the \"Company\")\n(AIM: GTLY)\n \nGRANT OF SHARE AWARDS, EXERCISE OF SHARE OPTIONS, ISSUE OF EQUITY, TOTAL VOTING RIGHTS\n \nGateley, the professional services group, is pleased to announce its latest grant of annual share awards and exercise of share options by employees, including PDMRs.\n \nThe Group's suite of share awards form's part of the Group's retention and incentivisation policy. It is a continuation of the board's strategy to differentiate the Group's remuneration package from other professional services businesses structured under a traditional partnership model.\n \nThe 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 65% of current employees are existing share or option holders in the Group.\n \nRestricted Share Awards\n \nThe board is pleased to announce the grant of new Restricted Share Awards (\"RSA\") over 790,131 Ordinary shares of 10 pence each in the Company (\"Ordinary Shares\"). RSA awards were approved by the board on 14 September to partner and director level equivalent staff. The RSAs, which vest on receipt, are subject to a five-year non-dealing restriction and are subject to forfeit should employment be terminated within that period.\n \nLong-Term Incentive Plan\n \nLong-Term Incentive Plan awards (\"LTIP\") over 727,790 Ordinary Shares vested on 14 September 2023 and were exercised on 21 September 2023 by 77 partners, including a number of PDMRs as disclosed in the tables below. These LTIP awards vested at the end of a three-year period, with vesting and exercise 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 \nEmployee Share Schemes and New Block Listings\n \nCompany Share Option Plan awards (\"CSOPs\") over 703,522 Ordinary Shares vested on 7 July 2023 and are capable of being exercised on or before until 6 July 2024. In addition, Save As You Earn awards (\"SAYE\") over 1,719...