Grant of Options under 2024 LTIP

About this update from Staffline Group Plc

29 January 2024 Staffline Group plc ("Staffline", the "Company" or the "Group") Grant of Options under 2024 Long-Term Incentive Plan Staffline, the recruitment and training group, announces that, under the terms of the Company's 2024 long term incentive plan (the " 2024 LTIP "), the Board has approved the award of and granted nil cost options (the " Options ") over 7,375,817 ordinary shares of 10 pence each in the Company (" Ordinary Shares ") to certain employees, including persons discharging managerial responsibilities (" PDMRs "), as set out below. The Board believes it is key that the Group retains and incentivises Executive Directors and senior employees to drive the business forward, whilst aligning their interests with those of shareholders. The Group intends to continue to fully satisfy the exercise of options through purchases of Ordinary Shares by the Employee Benefits Trust in order to limit the level of dilution experienced by existing shareholders. The vesting of the Options is subject to the satisfaction of the Company achieving certain financial performance criteria for the financial year ending 31 December 2026. For the Executive Directors and relevant central Group senior employees the financial performance criteria are based on the Group as a whole, with 50% of the Options awarded subject to achieving underlying earnings per share hurdles and 50% subject to achieving underlying operating profit hurdles.  For senior employees operating within the divisions of the Group, their performance criteria are based 20% on the Group performance criteria, as above, and 80% on underlying operating profit hurdles relating to their own division. The Options will vest from 26 January 2027 (the " Vesting Period ") and will be exercisable until 26 January 2034. The Options awarded to PDMRs are set out in the table below. Director/ PDMR Position Options granted Albert Ellis Chief Executive Officer 2,096,950 Daniel Quint Chief Financial Officer 1,715,686 Martina McKenzie MD Recruitment Ireland 680,828 Frank Atkinson MD Recruitment GB 680,828 Kenny Boyle MD PeoplePlus 517,429   Following the grant, the total number of Options over Ordinary Shares under the 2024 LTIP is   7,375,817 representing 4.94% of the Company's issued share capital.   For further information, please contact:   Staffline Group plc www.stafflinegroupplc.co.uk Albert Ellis, Chief Executive Officer Daniel Quint, Chief Financial Officer via Vigo Consulting Liberum (Nominated Adviser and Broker) www.liberum.com Richard Lindley / Satbir Kler 020 3100 2222 Zeus (Joint Broker) www.zeuscapital.co.uk David Foreman (Investment Banking) Nick Searle (Sales) 020 3829 5000   Vigo Consulting (Financial PR) www.vigoconsulting.com Jeremy Garcia / Verity Snow 020 7390 0230 [email protected]     Market Abuse Regulation:   For the purposes of MAR, Article 2 of Commission Implementing Regulation (EU) 2016/1055 and the UK version of such implementing regulation, the person responsible for arranging for the release of this Announcement on behalf of the Company is Daniel Quint, Chief Financial Officer.   About Staffline   About Staffline - Recruitment, Training and Support Enabling the Future of Work™ Staffline is the UK's market leading Recruitment and Training group. It has three divisions:   Recruitment GB Staffline is a leading provider of flexible blue-collar workers, supplying c.31,000 staff per day on average from around 400 sites, across a wide range of industries including supermarkets, drinks, driving, food processing, logistics and manufacturing.   Recruitment Ireland The Recruitment Ireland business is a leading end to end solutions provider operating across twenty industries, ten branch locations and ten onsite customer locations, supplying c.4,500 staff per day on average, and offering RPO, MSP, temporary and permanent solutions across the island of Ireland.   PeoplePlus Division Staffline is the leading adult skills and training provider in the UK, delivering adult education, prison education and skills-based employability programmes across the country.     1 Details of the person discharging managerial responsibilities/person closely associated a) Name Albert Ellis 2 Reason for the notification a) Position/status   Chief Executive Officer b) Initial notification /Amendment   Initial notification 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a)   Name   Staffline Group plc b)   LEI 213800BVLF1BCOJUH828 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   Ordinary Shares of 10 pence each   ISIN: GB00B040L800 b)   Nature of the transaction   Grant of awards over Ordinary Shares under the Company's LTIP   c)   Price(s) and volume(s)     Price(s)      Volume(s) Nil     2,096,950         d) Aggregated information    - Aggregated volume    - Price     N/A e)   Date of the transaction   26 January 2024 f)   Place of the transaction   Outside a trading venue     1 Details of the person discharging managerial responsibilities/person closely associated a) Name Daniel Quint 2 Reason for the notification a) Position/status   Chief Financial Officer b) Initial notification /Amendment   Initial notification 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a)   Name   Staffline Group plc b)   LEI 213800BVLF1BCOJUH828 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   Ordinary Shares of 10 pence each   ISIN: GB00B040L800 b)   Nature of the transaction   Grant of awards over Ordinary Shares under the Company's LTIP c)   Price(s) and volume(s)     Price(s)      Volume(s) Nil         1,715,686     d) Aggregated information    - Aggregated volume    - Price     N/A e)   Date of the transaction   26 January 2024   f)   Place of the transaction   Outside a trading venue     1 Details of the person discharging managerial responsibilities/person closely associated a) Name Martina McKenzie 2 Reason for the notification a) Position/status   MD Recruitment Ireland b) Initial notification /Amendment   Initial notification 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a)   Name   Staffline Group plc b)   LEI 213800BVLF1BCOJUH828 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   Ordinary Shares of 10 pence each   ISIN: GB00B040L800 b)   Nature of the transaction   Grant of Options to purchase Ordinary Shares of 10 pence each under the Staffline Group   c)   Price(s) and volume(s)     Price(s)      Volume(s) Nil          680,828   d) Aggregated information    - Aggregated volume    - Price     N/A e)   Date of the transaction   26 January 2024 f)   Place of the transaction   Outside a trading venue     1 Details of the person discharging managerial responsibilities/person closely associated a) Name Frank Atkinson 2 Reason for the notification a) Position/status   MD Recruitment GB b) Initial notification /Amendment   Initial notification 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a)   Name   Staffline Group plc b)   LEI 213800BVLF1BCOJUH828 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   Ordinary Shares of 10 pence each   ISIN: GB00B040L800 b)   Nature of the transaction   Grant of awards over Ordinary Shares under the Company's LTIP c)   Price(s) and volume(s)     Price(s)      Volume(s) Nil        680,828    d) Aggregated information    - Aggregated volume    - Price     N/A e)   Date of the transaction   26 January 2024 f)   Place of the transaction   Outside a trading venue   1 Details of the person discharging managerial responsibilities/person closely associated a) Name Kenny Boyle 2 Reason for the notification a) Position/status   MD - PeoplePlus b) Initial notification /Amendment   Initial notification 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a)   Name   Staffline Group plc b)   LEI 213800BVLF1BCOJUH828 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   Ordinary Shares of 10 pence each   ISIN: GB00B040L800 b)   Nature of the transaction   Grant of awards over Ordinary Shares under the Company's LTIP c)   Price(s) and volume(s)     Price(s)      Volume(s) Nil        517,429                    d) Aggregated information    - Aggregated volume    - Price     N/A e)   Date of the transaction     26 January 2024 f)   Place of the transaction   Outside a trading venue    

View stock analysis, news, and events for Staffline Group Plc