Grant of Options

About this update from Norman Broadbent Plc

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 £0.01 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 £500,000 to £1,250,000 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 "):         Name of Individual           Director/PDMR     Number of Share Price Vesting Options granted     Number of EBITDA Vesting Options granted     Total Number of Options granted     Total Number of Options held following Grant  Percentage of the Company's Existing Issued Shares Under Option held Percentage of the Company's Fully Diluted Share Capital 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% Sean Bergin COO and 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 /Amendment Initial notification 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 the financial instrument, type of instrument Identification code Options over ordinary shares of £0.01 each in Norman Broadbent Plc Identification code (ISIN) for Norman Broadbent Plc ordinary shares: GB00B3VF4Y66 b) Nature of the transaction Grant of options 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 - Aggregated volume - Price N/A 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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