Forward Partners Group PLC Establishment of LTIP and Grant of Options (6393X)

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RNS Number : 6393X

Forward Partners Group PLC

06 January 2022

Forward Partners Group plc

("Forward Partners" or the "Company")

Establishment of LTIP and Grant of Options

Forward Partners, the London-based investment firm specialising in supporting high growth, early-stage technology businesses, announces the following in connection with the establishment of a new long-term incentive plan (the "LTIP") and the grant of options pursuant to the LTIP.

The Board recognises the importance of long-term equity incentive schemes as a means to incentivise the Company's executive management and ensure alignment with the objectives of the Group. It is intended that options granted pursuant to the LTIP will vest subject to performance conditions linked to shareholder returns and target portfolio exits.

The Company confirms that following establishment of the LTIP, it has granted 323,318 Options to Nic Brisbourne, CEO of the Company. The Options have a six-year life and are exercisable at nominal value. Tiered vesting of the Options will be based on the achievement of performance conditions by 19 July 2024.

 
 FORWARD PARTNERS GROUP PLC                Via Maitland/AMO 
 Nic Brisbourne, Chief Executive Officer 
 Liberum Capital Limited                   Tel: [phone] 
  (Nominated Adviser and Broker) 
 Neil Patel 
  Lauren Kettle 
  Edward Phillips 
  Cara Murphy 
 Maitland/AMO (Public Relations)           [e-mail] 
 Sam Turvey 
  Kate Pledger 
 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019.

Notes to editors:

About Forward Partners

Founded in 2013, Forward Partners is an established and respected London-based investor, specialising in supporting high growth, early-stage technology businesses.

The Group brings together venture capital provider Forward Ventures, equity-free revenue-based financing through Forward Advances and highly specialised growth support from Forward Studio. This model supports founders to build stronger businesses faster to provide better outcomes for companies and investors alike.

The Group makes equity investments in early-stage, high growth UK companies, and from inception to its admission to London's AIM market in July 2021 had made over 60 unique investments and built a portfolio with an Initial Portfolio NAV in excess of GBP100m. It holds an eight-year track record of making venture capital investments, and targets underlying NAV growth of 20% per annum over the cycle.

The management team brings together highly experienced venture capitalists, entrepreneurs, and expert consultants. Since 2015, Forward Partners has been backed by BlackRock, one of the largest institutional investors in the world. The Group receives over 4,000 start-up funding applications every year.

For more information, visit https://forwardpartners.com .

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                        Nic Brisbourne 
      ------------------------------------------  -------------------------------------------- 
 2     Reason for the notification 
      ---------------------------------------------------------------------------------------- 
 a)    Position/status                             CEO 
      ------------------------------------------  -------------------------------------------- 
 b)    Initial notification/Amendment              Initial 
      ------------------------------------------  -------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ---------------------------------------------------------------------------------------- 
 a)    Name                                        Forward Partners Group plc 
      ------------------------------------------  -------------------------------------------- 
 b)    LEI                                         213800G3LF6776Y7IY64 
      ------------------------------------------  -------------------------------------------- 
 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                          Options over ordinary shares of one 
        financial instrument,                       penny each 
        type of instrument 
 
       Identification code                         GB00BKPGBB09 
 
 b)    Nature of the transaction                   Grant of options over ordinary shares 
      ------------------------------------------  -------------------------------------------- 
 c)    Price(s) and volume(s) 
                                                   -------------------  -------------------- 
                                                    Price(s)             Volume(s) 
                                                   -------------------  -------------------- 
    1 pence                                                              323,318 
   -------------------------------------------------------------------  -------------------- 
 
 d)    Aggregated information 
 
  - Aggregated volume                         N/A 
 
  - Price 
 
 e)    Date of the transaction                     21 December 2021 
      ------------------------------------------  -------------------------------------------- 
 f)    Place of the transaction                    Off-market transaction 
      ------------------------------------------  -------------------------------------------- 
 

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January 06, 2022 04:32 ET (09:32 GMT)