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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
  0.00 0.0% 810.00 800.00 820.00 810.00 810.00 810.00 3,629 07:45:20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
55.1 5.4 13.8 58.7 253

Keystone Law Group PLC Director/PDMR Shareholding

02/06/2021 7:00am

UK Regulatory (RNS & others)


Keystone Law (LSE:KEYS)
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TIDMKEYS

RNS Number : 4778A

Keystone Law Group PLC

02 June 2021

2 June 2021

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 were 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)                   19,531 
William Robins (PDMR)                19,531 
 

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 adjusted EPS over the three-year period, with compound annual growth ('CAGR') of less than 9.5% delivering none of this element of the LTIP Award, 9.5% CAGR delivering 20% of this element of the LTIP Award and 100% of this element being granted for delivery of 14.7% CAGR in 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.

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 
 1        Details of the person discharging managerial responsibilities/person 
           closely associated 
         --------------------------------------------------------------------------------------------------- 
 a)       Name                                       Ashley Rupert James Patrick Miller 
         -----------------------------------------  -------------------------------------------------------- 
 2        Reason for the notification 
         --------------------------------------------------------------------------------------------------- 
 a)       Position/status                            Finance Director 
         -----------------------------------------  -------------------------------------------------------- 
 b)       Initial notification                       Initial 
           /Amendment 
         -----------------------------------------  -------------------------------------------------------- 
 3        Details of the issuer, emission allowance market participant, 
           auction platform, auctioneer or auction monitor 
         --------------------------------------------------------------------------------------------------- 
 a)       Name                                       Keystone Law Group plc 
         -----------------------------------------  -------------------------------------------------------- 
 b)       Legal Entity                               213800RTARHELL51S215 
           Identifier 
         -----------------------------------------  -------------------------------------------------------- 
 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                             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                                                                          19,531 
  ---------------------------------------------------------------------------  ----------------------------- 
 b        Nature of the 
  2)       transaction 
         --------------------------------------------------------------------  ----------------------------- 
 c        Price(s) and                               Price(s)                   Volume(s) 
  2)       volume(s) 
         -----------------------------------------  -------------------------  ----------------------------- 
 
 d)       Aggregated information                     Not applicable single transaction 
         -----------------------------------------  -------------------------------------------------------- 
  - Aggregated 
   volume 
 --------------------------------------------------------------------  ------  ----------------------------- 
  - Price 
 --------------------------------------------------------------------  ------  ----------------------------- 
 e)       Date of the transaction                    1 June 2021 
         -----------------------------------------  -------------------------------------------------------- 
 f)       Place of the                                London 
           transaction 
         -----------------------------------------  -------------------------------------------------------- 
 
 
 
 PDMR DEALING NOTIFICATION TEMPLATE 
 Notification and public disclosure of transactions by persons 
  discharging managerial responsibilities and persons closely 
  associated with them 
 1        Details of the person discharging managerial responsibilities/person 
           closely associated 
         --------------------------------------------------------------------------------------------------- 
 a)       Name                                       William Robins 
         -----------------------------------------  -------------------------------------------------------- 
 2        Reason for the notification 
         --------------------------------------------------------------------------------------------------- 
 a)       Position/status                            PDMR 
         -----------------------------------------  -------------------------------------------------------- 
 b)       Initial notification                       Initial 
           /Amendment 
         -----------------------------------------  -------------------------------------------------------- 
 3        Details of the issuer, emission allowance market participant, 
           auction platform, auctioneer or auction monitor 
         --------------------------------------------------------------------------------------------------- 
 a)       Name                                       Keystone Law Group plc 
         -----------------------------------------  -------------------------------------------------------- 
 b)       Legal Entity                               213800RTARHELL51S215 
           Identifier 
         -----------------------------------------  -------------------------------------------------------- 
 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                             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                                                                          19,531 
  ---------------------------------------------------------------------------  ----------------------------- 
 b        Nature of the 
  2)       transaction 
         --------------------------------------------------------------------  ----------------------------- 
 c        Price(s) and                               Price(s)                   Volume(s) 
  2)       volume(s) 
         -----------------------------------------  -------------------------  ----------------------------- 
 
 d)       Aggregated information                     Not applicable single transaction 
         -----------------------------------------  -------------------------------------------------------- 
  - Aggregated 
   volume 
 --------------------------------------------------------------------  ------  ----------------------------- 
  - Price 
 --------------------------------------------------------------------  ------  ----------------------------- 
 e)       Date of the transaction                    1 June 2021 
         -----------------------------------------  -------------------------------------------------------- 
 f)       Place of the                                London 
           transaction 
         -----------------------------------------  -------------------------------------------------------- 
 
 

-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 
   Laura Ewart                                         +44 (0)7711 387 
    Shiv Talwar                                                    085 
   keystonelaw@fticonsulting.com 
 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").

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, 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 over 350 high calibre self-employed 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

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