Share Name Share Symbol Market Type Share ISIN Share Description
Fairfx Group Plc LSE:FFX London Ordinary Share GB00BLS0XX25 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 124.50 124.00 125.00 0.00 0.00 0.00 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 26.1 2.1 1.7 74.1 205

Equals Group PLC Grant of Options

26/09/2019 12:02pm

UK Regulatory (RNS & others)


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TIDMEQLS

RNS Number : 8160N

Equals Group PLC

26 September 2019

Equals Group plc

("Equals", the "Group" or the "Company")

Grant of Options

Equals, the e-banking and payments group, today announces that it has granted 1,750,000 options over ordinary shares of 1 pence each in the capital of the Company ("New Options") to the following persons discharging managerial responsibilities ("PDMR's"):

 
 Name                    Position           New Options   No. of options   Total options 
                                             Granted       held prior       held following 
                                                           to award         grant 
                         Chief Executive 
 Ian Strafford-Taylor     Officer           750,000       4,268,000        5,018,000 
                        -----------------  ------------  ---------------  ---------------- 
                         Group Finance 
 Richard Cooper*          Director          500,000       0                500,000 
                        -----------------  ------------  ---------------  ---------------- 
                         Chief Product 
                          and Marketing 
 Ben Wynn                 Officer           500,000       0                500,000 
                        -----------------  ------------  ---------------  ---------------- 
 

Appointment to the board of Equals effective from 14 October 2019.

The New Options give holders the right to subscribe for new ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") at an exercise price of 101.1 pence per Ordinary Share. The options vest in 3 equal tranches after 1, 2 and 3 years from the date of grant subject to conditions relating to continued employment being satisfied. For Ian Strafford-Taylor and Ben Wynn, the date of grant is todays date whereas in the case of Richard Cooper this will be from 14(th) October 2019, the date at which he takes up his position.

The Remuneration Committee of the Company are also in the process of establishing a Long-Term Incentive Plan (the "LTIP") which will retain and motivate key senior executives over the Company's next phase of development. The Remuneration Committee intend to consult with major shareholders the principal terms of the LTIP ahead of formally approving the plan.

Finally, as set out above, before the issue of New Options Mr Strafford-Taylor held an interest in 4,268,000 options over Ordinary Shares ("Existing Options"). A summary of the Existing Options held by Mr Strafford-Taylor is set out below

 
 No. of Existing   Exercise price   Date Granted   Date Expires 
  Options 
 1,789,300         GBP0.36          22/07/2014     03/11/2019 
                  ---------------  -------------  ------------- 
 1,535,750         GBP0.36          28/07/2014     03/11/2019 
                  ---------------  -------------  ------------- 
 192,950           GBP0.22          22/07/2014     03/11/2019 
                  ---------------  -------------  ------------- 
 750,000           GBP0.30          28/09/2016     27/09/2026 
                  ---------------  -------------  ------------- 
 

In addition, Dr Jules Bean, The Chief Technology Officer (CTO) of Equals Group, holds Existing Options as per the summary below

 
 No. of Existing   Exercise price   Date Granted   Date Expires 
  Options 
 200,000           GBP0.07          22/07/2014     03/11/2019 
                  ---------------  -------------  ------------- 
 254,800           GBP0.22          22/07/2014     03/11/2019 
                  ---------------  -------------  ------------- 
 400,000           GBP0.36          28/07/2014     03/11/2019 
                  ---------------  -------------  ------------- 
 50,000            GBP0.30          28/09/2016     27/09/2026 
                  ---------------  -------------  ------------- 
 

3,518,000 Existing Options held by Mr Strafford-Taylor and 854,800 Existing Options held by Dr Bean expire on 03/11/2019. The Remuneration Committee has agreed to extend the expiry date of the total of 4,372,800 Existing Options to 03/11/2022.

The following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                   Ian Strafford Taylor 
     ---------------------  --------------------------------------------- 
 2    Reason for the notification 
     -------------------------------------------------------------------- 
 a)   Position/status        Chief Executive Officer 
     ---------------------  --------------------------------------------- 
 b)   Initial notification   Initial 
       /Amendment 
     ---------------------  --------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     -------------------------------------------------------------------- 
 a)   Name                   Equals plc 
     ---------------------  --------------------------------------------- 
 b)   LEI                    213800CPI5S2GYB3RI27 
     ---------------------  --------------------------------------------- 
 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        Ordinary shares of 1p each 
       instrument, 
       type of instrument 
       Identification          ISIN: GB00BLS0XX25 
       code 
     ---------------------  --------------------------------------------- 
 b)   Nature of              Grant of options over new ordinary shares at 
       the transaction        an exercise price of 101.1p per share 
     ---------------------  --------------------------------------------- 
 c)   Price(s)                 Price(s)       Volume(s) 
       and volume(s)                 GBPNil    750,000 
                                              ---------- 
     ---------------------  --------------------------------------------- 
 d)   Aggregated 
       information             N/A - single transaction 
       - Aggregated 
       volume 
       - Price 
     ---------------------  --------------------------------------------- 
 e)   Date of the            26 September 2019 
       transactions 
     ---------------------  --------------------------------------------- 
 f)   Place of               Outside a trading venue 
       the transactions 
     ---------------------  --------------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                   Richard Cooper 
     ---------------------  ----------------------------------------------- 
 2    Reason for the notification 
     ---------------------------------------------------------------------- 
 a)   Position/status        Chief Financial Officer (appointment effective 
                              from 14 October 2019) 
     ---------------------  ----------------------------------------------- 
 b)   Initial notification   Initial 
       /Amendment 
     ---------------------  ----------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ---------------------------------------------------------------------- 
 a)   Name                   Equals plc 
     ---------------------  ----------------------------------------------- 
 b)   LEI                    213800CPI5S2GYB3RI27 
     ---------------------  ----------------------------------------------- 
 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        Ordinary shares of 1p each 
       instrument, 
       type of instrument 
       Identification          ISIN: GB00BLS0XX25 
       code 
     ---------------------  ----------------------------------------------- 
 b)   Nature of              Grant of options over new ordinary shares at 
       the transaction        an exercise price of 101.1p per share 
     ---------------------  ----------------------------------------------- 
 c)   Price(s)                 Price(s)       Volume(s) 
       and volume(s)                 GBPNil    500,000 
                                              ---------- 
     ---------------------  ----------------------------------------------- 
 d)   Aggregated 
       information             N/A - single transaction 
       - Aggregated 
       volume 
       - Price 
     ---------------------  ----------------------------------------------- 
 e)   Date of the            26 September 2019 
       transactions 
     ---------------------  ----------------------------------------------- 
 f)   Place of               Outside a trading venue 
       the transactions 
     ---------------------  ----------------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                   Ben Wynn 
     ---------------------  --------------------------------------------- 
 2    Reason for the notification 
     -------------------------------------------------------------------- 
 a)   Position/status        Chief Product and Marketing Officer 
     ---------------------  --------------------------------------------- 
 b)   Initial notification   Initial 
       /Amendment 
     ---------------------  --------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     -------------------------------------------------------------------- 
 a)   Name                   Equals plc 
     ---------------------  --------------------------------------------- 
 b)   LEI                    213800CPI5S2GYB3RI27 
     ---------------------  --------------------------------------------- 
 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        Ordinary shares of 1p each 
       instrument, 
       type of instrument 
       Identification          ISIN: GB00BLS0XX25 
       code 
     ---------------------  --------------------------------------------- 
 b)   Nature of              Grant of options over new ordinary shares at 
       the transaction        an exercise price of 101.1p per share 
     ---------------------  --------------------------------------------- 
 c)   Price(s)                 Price(s)       Volume(s) 
       and volume(s)                 GBPNil    500,000 
                                              ---------- 
     ---------------------  --------------------------------------------- 
 d)   Aggregated 
       information             N/A - single transaction 
       - Aggregated 
       volume 
       - Price 
     ---------------------  --------------------------------------------- 
 e)   Date of the            26 September 2019 
       transactions 
     ---------------------  --------------------------------------------- 
 f)   Place of               Outside a trading venue 
       the transactions 
     ---------------------  --------------------------------------------- 
 

Contact:

 
 Equals Group plc 
  Ian Strafford-Taylor, CEO         +44 (0) 20 7778 9308 
 Cenkos Securities plc 
  Max Hartley/Callum Davidson 
  Nick Searle                       +44 (0) 20 7397 8900 
 Canaccord Genuity 
  Bobbie Hilliam / David Tyrrell 
  Alex Aylen                        +44 (0)20 7523 8150 
 Yellow Jersey 
  Charles Goodwin 
  Joe Burgess                         +44 (0) 7747 788 221 
  Annabel Atkins                      +44 (0) 7946 424 651 
 

About Equals

Equals is a leading challenger brand in banking and payments that disintermediates the incumbent banks with a superior user experience and low-cost operating model. Our business enables personal and business customers to make easy, low-cost payments both domestically and in a broad range of currencies and across a range of products all via one integrated system. The Equals platform facilitates payments either direct to Bank Accounts or at 35 million merchants and over 1 million ATM's in a broad range of countries globally via Mobile apps, the Internet, SMS, wire transfer and MasterCard/VISA debit cards.

Equals provides money movement services to both personal and business customers through four channels: Currency Cards, Physical Currency, International Payments and Bank Accounts. The Currency Card and Physical Currency offerings facilitate multiple overseas payments at points of sale and ATM's whereas the International Payments channel supports wire transfer foreign exchange transactions direct to Bank Accounts. For Corporates, Equals has a market-leading business-expenses solution based around its corporate platform and prepaid card. This service can yield significant savings on a Corporate's expenses and procurement both domestically and overseas, through better controls and improved transparency. The platform also streamlines the downstream administrative processes and integrates into accounting software, thus saving costs. Equals offers retail and business bank accounts with all the functionality you would expect from a bank, namely faster payments, BACs, direct debits, international payments and a debit card.

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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September 26, 2019 07:02 ET (11:02 GMT)

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