Aj Bell (LSE:AJB)
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RNS Number : 8391W

AJ Bell PLC

13 December 2019

13 December 2019

AJ Bell plc ('AJ Bell' or 'Company')

Further to the announcement on 5 December 2019 (RNS 7162V) of AJ Bell's plan to donate GBP10 million to charity via an innovative CSR initiative, AJ Bell today announces that on 12 December 2019 it granted options over 2,493,766 of the Company's ordinary shares of GBP0.000125 each (Ordinary Shares) at a price of GBP4.01 each to the A J Bell Trust (Trust), a registered charity and a person closely associated (PCA) with a person discharging managerial responsibility (PDMR), Andy Bell, the chief executive officer.

As the Trust is a member of a concert party in relation to the Company, the options were granted conditional upon the independent shareholders of the Company passing an ordinary resolution approving the grant of a waiver under rule 9 of the Takeover Code at the annual general meeting of the Company which is due to be held on 22 January 2020 (or any adjournment of that meeting). If that resolution is not passed, the options will lapse.

The Trust is a related party of the Company. The grant of options described in this announcement falls within Listing Rule 11.1.10R (smaller related party transactions) and this announcement is made in accordance with Listing Rule 11.1.10R(c).

For further information, please contact:

AJ Bell plc

Bruce Robinson, Company Secretary +44 (0) 780 234 4859

AJ Bell plc

Notification of person discharging managerial responsibilities/ person closely associated

 
 
 1.   Details of the person discharging managerial responsibilities/ 
       person closely associated 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                         A J Bell Trust 
     -----------------------------------------------------------  ---------------------------------------------------- 
 2.   Reason for the notification 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Position/status                                              PCA with Andrew James Bell, Chief Executive 
                                                                    Officer/PDMR 
     -----------------------------------------------------------  ---------------------------------------------------- 
 b)   Initial notification/                                        This is an initial notification 
       Amendment 
     -----------------------------------------------------------  ---------------------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                         AJ Bell plc 
     -----------------------------------------------------------  ---------------------------------------------------- 
 b)   LEI                                                          213800VNKA7DPWXWJJ36 
     -----------------------------------------------------------  ---------------------------------------------------- 
 4.   Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type of 
       transaction; (iii) each date; (iv) each place where 
       transactions have been conducted 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Description                                                  Ordinary shares of GBP0.000125 each 
       of the financial 
       instrument, 
       type of instrument 
                                                                  ---------------------------------------------------- 
      Identification                                               ISIN: GB00BFZNLB60 
       code 
     -----------------------------------------------------------  ---------------------------------------------------- 
 b)   Nature of                                                    Grant of options over Ordinary Shares which 
       the transaction                                             will be exercisable in three tranches dependent 
                                                                   upon the increase in the diluted earnings 
                                                                   per share exceeding target thresholds, 
                                                                   subject to certain underpin conditions. 
                                                                   Each tranche of options will ordinarily 
                                                                   vest once it has been determined if, and 
                                                                   the extent to which, the performance conditions 
                                                                   set for that tranche have been satisfied, 
                                                                   which will normally be within 75 days of 
                                                                   the end of the relevant financial period. 
                                                                   If and to the extent that any of the performance 
                                                                   conditions are not satisfied by the applicable 
                                                                   date, the relevant tranche of the options 
                                                                   will lapse. See RNS 7162V dated 5 December 
                                                                   2019 for further detail on such performance 
                                                                   conditions. 
     -----------------------------------------------------------  ---------------------------------------------------- 
 c)   Price(s) and                                                  Financial       Price(s)    Volume(s) 
       volume(s)                                                      period end 
                                                                     30 September 
                                                                      2022           GBP4.01     831,256 
                                                                                    ----------  ---------- 
                                                                     30 September 
                                                                      2023           GBP4.01     831,255 
                                                                                    ----------  ---------- 
                                                                     30 September 
                                                                      2024           GBP4.01     831,255 
                                                                                    ----------  ---------- 
     -----------------------------------------------------------  ---------------------------------------------------- 
 d)   Aggregated                                                    Not applicable single transaction 
       information 
       Aggregated 
       volume 
       price 
     -----------------------------------------------------------  ---------------------------------------------------- 
 e)   Date of the                                                  12 December 2019 
       transaction 
     -----------------------------------------------------------  ---------------------------------------------------- 
 f)   Place of the                                                 Outside a trading venue 
       transaction 
     -----------------------------------------------------------  ---------------------------------------------------- 
 
 

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.

END

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December 13, 2019 09:25 ET (14:25 GMT)