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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -5.00 | -0.72% | 685.00 | 680.00 | 690.00 | 685.00 | 685.00 | 685.00 | 14,051 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Legal Services | 75.26M | 6.73M | 0.2145 | 31.93 | 215.08M |
From May 2022 to May 2024
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' ).
Hot Features
Premium
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 .
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END
DSHUPURUQUPPGAM
(END) Dow Jones Newswires
June 08, 2022 02:01 ET (06:01 GMT)
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