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Share Name Share Symbol Market Type Share ISIN Share Description
Keystone Law Group Plc LSE:KEYS London Ordinary Share GB00BZ020557 ORD 0.2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50 -0.12% 432.50 425.00 440.00 432.50 432.50 432.50 7,755 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
69.6 83.6 21.3 20.3 135

Keystone Law Group PLC Director / PDMR Shareholding

08/06/2022 7:01am

UK Regulatory (RNS & others)


Keystone Law (LSE:KEYS)
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From Feb 2022 to Feb 2023

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TIDMKEYS

RNS Number : 0463O

Keystone Law Group PLC

08 June 2022

7 June 2022

Keystone Law Group plc

('Keystone' or the 'Group' or 'Company')

Director / PDMR shareholding

Keystone Law Group plc (AIM: KEYS), the fast growing, UK Top 100, challenger law firm, announces that the following awards have been granted over GBP0.002 ordinary shares in the capital of the Company under the Keystone Law Long Term Incentive Plan 2018 ('LTIP' ).

 
Name                                 Number of Shares subject 
                                      to variation 
Ashley Miller (Executive Director, 
 Finance Director)                   19,118 
William Robins (PDMR)                19,118 
 

The LTIP Awards have been granted as performance share awards and will vest on the third anniversary of their grant subject to the grantee's continued employment and to the extent to which the adjusted Earnings Per Share ('EPS') and Relative Total Shareholder Return ('TSR') performance conditions set out in the LTIP Award are met.

70% of the LTIP Awards will be assessed on growth in underlying adjusted EPS(1) over the three-year period, with compound annual growth ('CAGR') of less than 4.0% delivering none of this element of the LTIP Award, 4.0% CAGR delivering 20% of this element of the LTIP Award and 100% of this element being granted for delivery of 7.3% CAGR in underlying adjusted EPS over the three-year period. These reflect the current proposed increase in UK corporation tax rate and the Remuneration Committee retains the right to make appropriate amendments to these in the event of a material change to the rate during the vesting period.

30% of the LTIP Awards will be assessed on the TSR of the Company over the three-year period relative to that of those companies included in the FTSE Fledgling Index throughout the Performance Period; with 100% being awarded for performance in the top quartile, 50% for performance in the second quartile and nothing awarded for performance below the median.

In addition, the recipients of the LTIP Awards will be required to retain shares awarded under the LTIP awards for two years from the vesting date subject to the ability to sell sufficient shares to discharge any tax liability.

(1) As reported in April 2022, profits for the for year ended 31 January 2022 were enhanced due to the particularly strong client demand across the legal sector which we believe to have been caused by the release of pent up demand following lockdown restrictions in the previous year as well as cost savings due to COVID-19 restrictions. The combined impact of these on adjusted PBT was approx. GBP1m which in turn meant that underlying adjusted EPS for the period would have been 21.0p.

Set out below are the notifications, made in accordance with the requirements of the Market Abuse Regulation, in relation to the variation of the LTIP Awards.

 
 PDMR DEALING NOTIFICATION TEMPLATE 
 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                        Ashley Rupert James Patrick Miller 
       --------------------------  ---------------------------------------------------------- 
        Reason for the notification 
  2 
       -------------------------------------------------------------------------------------- 
 a)     Position/status             Finance Director 
       --------------------------  ---------------------------------------------------------- 
 b)     Initial notification        Initial 
         /Amendment 
       --------------------------  ---------------------------------------------------------- 
        Details of the issuer, emission allowance market participant, 
  3      auction platform, auctioneer or auction monitor 
       -------------------------------------------------------------------------------------- 
 a)     Name                        Keystone Law Group plc 
       --------------------------  ---------------------------------------------------------- 
 b)     Legal Entity                213800RTARHELL51S215 
         Identifier 
       --------------------------  ---------------------------------------------------------- 
        Details of the transaction(s): section to be repeated for 
  4      (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              Ordinary shares of GBP0.002 each in Keystone 
         the financial               Law Group plc 
         instrument, type 
         of instrument 
       --------------------------  ---------------------------------------------------------- 
        Identification              GB00BZ020557 
         code 
       --------------------------  ---------------------------------------------------------- 
 b      Nature of the               Grant of LTIP Award under the Keystone Law 
  1)     transaction                 Long Term Incentive Plan. The Award is structured 
                                     as a performance share award which shall ordinarily 
                                     vest on the third anniversary of its grant 
                                     date subject to continued service and to the 
                                     extent to which the performance conditions 
                                     set for the Award are satisfied. 
       --------------------------  ---------------------------------------------------------- 
 c      Price(s) and                Price(s)                  Volume(s) 
  1)     volume(s) 
       --------------------------  ------------------------  -------------------------------- 
   Nil                                                        19,118 
  ---------------------------------------------------------  -------------------------------- 
 b      Nature of the 
  2)     transaction 
       ----------------------------------------------------  -------------------------------- 
 c      Price(s) and                Price(s)                      Volume(s) 
  2)     volume(s) 
       --------------------------  ----------------------------  ---------------------------- 
 
 d)     Aggregated information 
       ---------------------------------------------------- 
  - Aggregated 
   volume 
 ---------------------------------------------------- 
  - Price                     Not applicable single transaction 
 --------------------------  ---------------------------------------------------------------- 
 e)     Date of the transaction 
                                      7 June 2022 
       --------------------------  ---------------------------------------------------------- 
 f)     Place of the 
         transaction                  London 
       --------------------------  ---------------------------------------------------------- 
 
 
 
 PDMR DEALING NOTIFICATION TEMPLATE 
 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 Robins 
       --------------------------  -------------------------------------------------------- 
        Reason for the notification 
  2 
       ------------------------------------------------------------------------------------ 
 a)     Position/status             PDMR 
       --------------------------  -------------------------------------------------------- 
 b)     Initial notification        Initial 
         /Amendment 
       --------------------------  -------------------------------------------------------- 
        Details of the issuer, emission allowance market participant, 
  3      auction platform, auctioneer or auction monitor 
       ------------------------------------------------------------------------------------ 
 a)     Name                        Keystone Law Group plc 
       --------------------------  -------------------------------------------------------- 
 b)     Legal Entity                213800RTARHELL51S215 
         Identifier 
       --------------------------  -------------------------------------------------------- 
        Details of the transaction(s): section to be repeated for 
  4      (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              Ordinary shares of GBP0.002 each in Keystone 
         the financial               Law Group plc 
         instrument, type 
         of instrument 
       --------------------------  -------------------------------------------------------- 
        Identification              GB00BZ020557 
         code 
       --------------------------  -------------------------------------------------------- 
 b      Nature of the               Grant of LTIP Award under the Keystone Law 
  1)     transaction                 Long Term Incentive Plan. The Award is structured 
                                     as a performance share award which shall ordinarily 
                                     vest on the third anniversary of its grant 
                                     date subject to continued service and to the 
                                     extent to which the performance conditions 
                                     set for the Award are satisfied. 
       --------------------------  -------------------------------------------------------- 
 c      Price(s) and                Price(s)                  Volume(s) 
  1)     volume(s) 
       --------------------------  ------------------------  ------------------------------ 
   Nil                                                        19,118 
  ---------------------------------------------------------  ------------------------------ 
 b      Nature of the 
  2)     transaction 
       ----------------------------------------------------  ------------------------------ 
 c      Price(s) and                Price(s)                  Volume(s) 
  2)     volume(s) 
       --------------------------  ------------------------  ------------------------------ 
 
 d)     Aggregated information 
       ---------------------------------------------------- 
  - Aggregated 
   volume 
 ---------------------------------------------------- 
  - Price                     Not applicable single transaction 
 --------------------------  -------------------------------------------------------------- 
 e)     Date of the transaction 
                                      7 June 2022 
       --------------------------  -------------------------------------------------------- 
 f)     Place of the 
         transaction                  London 
       --------------------------  -------------------------------------------------------- 
 
 

-ENDS-

For further information please contact:

 
      Keystone Law Group plc 
       James Knight, Chief Executive Officer 
       Ashley Miller, Finance Director                 +44 (0) 20 3319 
       www.keystonelaw.com                                        3700 
   Panmure Gordon (UK) Limited (Nominated Adviser 
    and Joint Broker) 
   Dominic Morley (Corporate Finance) 
    Erik Anderson (Corporate Broking)                  +44 (0) 20 7886 
    www.panmure.com                                               2500 
 
   Investec Bank plc (Joint Broker) 
   Carlton Nelson 
    James Rudd 
    www.investec.co.uk 
                                                       +44 (0) 20 7597 
    Media enquiries:                                              5970 
 
   FTI Consulting 
                                                       +44 (0)7711 387 
   Laura Ewart                                                     085 
   keystonelaw@fticonsulting.com 
 

Notes to editors

Keystone is an award-winning law firm, providing conventional legal services to SMEs and high net worth individuals in a GBP9bn addressable market.

Keystone has a scalable and unique model, with three defining characteristics:

-- Our lawyers have freedom, flexibility and autonomy, and are paid up to 75% of what they bill.

-- Our lawyers determine how, when and where they work, in contrast to the conventional law firm model.

-- We offer lawyers full infrastructure and support via its central office team, bespoke user-friendly IT platform, and network of colleagues and events.

Keystone is a full-service law firm, with 20 service areas and more than 50 industry sectors delivered by nearly 400 high calibre self-employed Principal lawyers who work from their own offices.

In November 2020, Keystone was named Law Firm of the Year by The Lawyer, the first time a 'new' law firm has won the award.

More information about Keystone can be found at www.keystonelaw.co.uk .

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHUPURUQUPPGAM

(END) Dow Jones Newswires

June 08, 2022 02:01 ET (06:01 GMT)

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