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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Cornerstone Fs Plc | LSE:CSFS | London | Ordinary Share | GB00BNG7CD28 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 40.00 | 39.00 | 41.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Catalog, Mail-order Houses | 4.82M | -5.61M | -0.0977 | -409.42 | 2.3B |
TIDMCSFS
RNS Number : 7749T
Cornerstone FS PLC
17 November 2023
17 November 2023
Cornerstone FS plc
("Cornerstone" or "the Company" or "the Group")
Grant and Cancellation of Options; PDMR Dealings
Cornerstone FS plc (AIM: CSFS), a foreign exchange and payments solutions company offering multi-currency accounts to businesses and individuals through its proprietary technology platform, announces the grant of options over ordinary shares of 1 penny each in the Company ("Ordinary Shares") and the cancellation of certain existing options over Ordinary Shares. This includes the grant of options to, and cancellation of options held by, Executive Directors and PDMRs of the Company.
Grant of Options
The Company has granted, on 16 November 2023 (the "Grant Date"), a total of 870,000 options over Ordinary Shares of the Company ("Options") to certain employees including an Executive Director and two PDMRs of the Company under the Company's Enterprise Management Incentive ("EMI") Scheme. Options over a total of 540,000 shares have been granted to an Executive Director and PDMRs as follows:
Name Role Number of Options granted Chief Information Officer (Executive William Newton Director) 240,000 -------------------------------------- ------------------ Arindam Ray Chief Technology Officer (PDMR) 120,000 -------------------------------------- ------------------ Head of Compliance and MLRO Joshua Best (PDMR) 180,000 -------------------------------------- ------------------
The Options vest in three equal tranches on the first, second and third anniversaries of the Grant Date and are exercisable at a price of 12 pence per share, representing the closing price of the Company's Ordinary Shares on AIM on 15 November 2023, being the day prior to the Grant Date. The Options are subject to the individual remaining an employee of the Company. Leavers may exercise vested Options within 90 days of cessation of employment. All Options expire five years after the Grant Date.
Cancellation of Options
The Company has, on 16 November 2023, cancelled the following options over Ordinary Shares held by an Executive Director and a PDMR as follows (with the holders of the options agreeing to their cancellation with immediate effect):
Name Role Number of Number of options Exercise price options cancelled held following of options held the cancellation of options Chief Financial Officer (Executive Judy Happe Director) 404,660 550,000 10.0p --------------------- ------------------- ------------------ ----------------- Chief Operating Jordanna Officer Curtis (PDMR) 114,755 200,000 10.0p --------------------- ------------------- ------------------ -----------------
This cancellation of options, for nil consideration, follows grants of options to the above-named Executive Director and PDMR as disclosed in the Company's announcement of 16 January 2023.
Following the above grants and cancellations of options, the Company now has options outstanding over a total of 4,857,736 Ordinary Shares, representing 8.5% of the current issued share capital of the Company.
Enquiries
Cornerstone FS plc +44 (0)203 971 4865 James Hickman, Chief Executive Officer Judy Happe, Chief Financial Officer SPARK Advisory Partners Limited (Nomad) +44 (0)203 368 3550 Mark Brady, Adam Dawes Shore Capital (Broker) +44 (0)207 408 4090 Daniel Bush, Tom Knibbs (Corporate Advisory) Guy Wiehahn (Corporate Broking) Gracechurch Group (Financial PR) +44 (0)204 582 3500 Harry Chathli, Claire Norbury
About Cornerstone FS plc
Cornerstone FS plc (AIM: CSFS) is a foreign exchange and payments company offering multi-currency accounts and payment solutions to businesses and individuals. Headquartered in the City of London, Cornerstone combines a proprietary technology platform with a high level of personalised service to support clients with payments in over 150 countries in 58 currencies. With a track record of over 12 years, Cornerstone has the expertise, experience and expanding global partner network to be able to execute complex cross-border payments. It is fully regulated by the Financial Conduct Authority as an Electronic Money Institution. www.cornerstonefs.com
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
Details of the person discharging managerial responsibilities/person 1 closely associated a) Name William Newton -------------------------------------------- ---------------------------------------------- Reason for the notification 2 -------------------------------------------------------------------------------------------- a) Position/status Chief Information Officer -------------------------------------------- ---------------------------------------------- b) Initial notification/amendment Initial Notification -------------------------------------------- ---------------------------------------------- Details of the issuer, emission allowance market participant, 3 auction platform, auctioneer or auction monitor -------------------------------------------------------------------------------------------- a) Name Cornerstone FS plc -------------------------------------------- ---------------------------------------------- b) LEI 213800O4IL2RXZ2BZ956 -------------------------------------------- ---------------------------------------------- Details of the transaction(s): section to be repeated 4 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 Options over ordinary shares of 1 penny financial instrument, each type of instrument Identification code GB00BNG7CD28 b) Nature of the transaction Grant of options -------------------------------------------- ---------------------------------------------- c) Price(s) and volume(s) --------------------- -------------------- Price(s) Volume(s) --------------------- -------------------- 12 pence 240,000 ------------------------------------------------------------------------ -------------------- d) Aggregated information - Aggregated volume N/A - Price N/A e) Date of the transaction 16 November 2023 -------------------------------------------- ---------------------------------------------- f) Place of the transaction Off market -------------------------------------------- ---------------------------------------------- Details of the person discharging managerial responsibilities/person 1 closely associated a) Name Arindam Ray -------------------------------------------- ---------------------------------------------- Reason for the notification 2 -------------------------------------------------------------------------------------------- a) Position/status Chief Technology Officer -------------------------------------------- ---------------------------------------------- b) Initial notification/amendment Initial Notification -------------------------------------------- ---------------------------------------------- Details of the issuer, emission allowance market participant, 3 auction platform, auctioneer or auction monitor -------------------------------------------------------------------------------------------- a) Name Cornerstone FS plc -------------------------------------------- ---------------------------------------------- b) LEI 213800O4IL2RXZ2BZ956 -------------------------------------------- ---------------------------------------------- Details of the transaction(s): section to be repeated 4 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 Options over ordinary shares of 1 penny financial instrument, each type of instrument
Identification code GB00BNG7CD28 b) Nature of the transaction Grant of options -------------------------------------------- ---------------------------------------------- c) Price(s) and volume(s) --------------------- -------------------- Price(s) Volume(s) --------------------- -------------------- 12 pence 120,000 ------------------------------------------------------------------------ -------------------- d) Aggregated information - Aggregated volume N/A - Price N/A e) Date of the transaction 16 November 2023 -------------------------------------------- ---------------------------------------------- f) Place of the transaction Off market -------------------------------------------- ---------------------------------------------- Details of the person discharging managerial responsibilities/person 1 closely associated a) Name Joshua Best -------------------------------------------- ---------------------------------------------- Reason for the notification 2 -------------------------------------------------------------------------------------------- a) Position/status Head of Compliance and MLRO -------------------------------------------- ---------------------------------------------- b) Initial notification/amendment Initial Notification -------------------------------------------- ---------------------------------------------- Details of the issuer, emission allowance market participant, 3 auction platform, auctioneer or auction monitor -------------------------------------------------------------------------------------------- a) Name Cornerstone FS plc -------------------------------------------- ---------------------------------------------- b) LEI 213800O4IL2RXZ2BZ956 -------------------------------------------- ---------------------------------------------- Details of the transaction(s): section to be repeated 4 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 Options over ordinary shares of 1 penny financial instrument, each type of instrument Identification code GB00BNG7CD28 b) Nature of the transaction Grant of options -------------------------------------------- ---------------------------------------------- c) Price(s) and volume(s) --------------------- -------------------- Price(s) Volume(s) --------------------- -------------------- 12 pence 180,000 ------------------------------------------------------------------------ -------------------- d) Aggregated information - Aggregated volume N/A - Price N/A e) Date of the transaction 16 November 2023 -------------------------------------------- ---------------------------------------------- f) Place of the transaction Off market -------------------------------------------- ---------------------------------------------- Details of the person discharging managerial responsibilities/person 1 closely associated a) Name Judy Happe ------------------------------------------- ---------------------------------------------- Reason for the notification 2 ------------------------------------------------------------------------------------------- a) Position/status Chief Financial Officer ------------------------------------------- ---------------------------------------------- b) Initial notification/amendment Initial Notification ------------------------------------------- ---------------------------------------------- Details of the issuer, emission allowance market participant, 3 auction platform, auctioneer or auction monitor ------------------------------------------------------------------------------------------- a) Name Cornerstone FS plc ------------------------------------------- ---------------------------------------------- b) LEI 213800O4IL2RXZ2BZ956 ------------------------------------------- ---------------------------------------------- Details of the transaction(s): section to be repeated 4 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 Options over ordinary shares of 1 penny financial instrument, each type of instrument Identification code GB00BNG7CD28 b) Nature of the transaction Cancellation of options ------------------------------------------- ---------------------------------------------- c) Price(s) and volume(s) ---------------------- ------------------- Price(s) Volume(s) ---------------------- ------------------- 50.0 pence 276,803 ------------------------------------------------------------------------ ------------------- 36.2 pence 127,857 ------------------------------------------------------------------------ ------------------- d) Aggregated information - Aggregated volume 404,660 - Price 45.6 pence e) Date of the transaction 16 November 2023 ------------------------------------------- ---------------------------------------------- f) Place of the transaction Off market ------------------------------------------- ---------------------------------------------- Details of the person discharging managerial responsibilities/person 1 closely associated a) Name Jordanna Curtis ------------------------------------------- ---------------------------------------------- Reason for the notification 2 ------------------------------------------------------------------------------------------- a) Position/status Chief Operating Officer ------------------------------------------- ---------------------------------------------- b) Initial notification/amendment Initial Notification ------------------------------------------- ---------------------------------------------- Details of the issuer, emission allowance market participant, 3 auction platform, auctioneer or auction monitor ------------------------------------------------------------------------------------------- a) Name Cornerstone FS plc ------------------------------------------- ---------------------------------------------- b) LEI 213800O4IL2RXZ2BZ956 ------------------------------------------- ---------------------------------------------- Details of the transaction(s): section to be repeated 4 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 Options over ordinary shares of 1 penny financial instrument, each type of instrument Identification code GB00BNG7CD28 b) Nature of the transaction Cancellation of options ------------------------------------------- ---------------------------------------------- c) Price(s) and volume(s) ---------------------- ------------------- Price(s) Volume(s) ---------------------- ------------------- 61.0 pence 114,755
------------------------------------------------------------------------ ------------------- d) Aggregated information - Aggregated volume N/A - Price N/A e) Date of the transaction 16 November 2023 ------------------------------------------- ---------------------------------------------- f) Place of the transaction Off market ------------------------------------------- ----------------------------------------------
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(END) Dow Jones Newswires
November 17, 2023 02:00 ET (07:00 GMT)
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