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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 | 0.00% | 640.00 | 630.00 | 650.00 | 640.00 | 640.00 | 640.00 | 6,472 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Legal Services | 75.26M | 6.73M | 0.2145 | 29.84 | 200.95M |
From Apr 2019 to Apr 2024
TIDMKEYS
RNS Number : 3834T
Keystone Law Group PLC
17 July 2020
17 July 2020
Keystone Law Group Plc
('Keystone' or the 'Company)
Director / PDMR shareholding
Keystone Law (AIM:KEYS), the fast growing, UK Top 100, challenger law firm, announces that on 17 July 2020, the Remuneration Committee approved the following variations to the performance criteria and vesting and holding periods in respect of the award made in July 2018 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) 20,820
-------------------------
William Robins (PDMR) 20,820
-------------------------
The LTIP Awards were granted as performance share awards which were due to vest on the third anniversary of their grant, subject to the grantees' 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 Awards were met.
70% of the LTIP Awards are assessed on growth in adjusted EPS over the vesting period. The original terms of the award were a vesting period of three years, with 100% of this part of the award vesting for compound annual growth in adjusted EPS over the Performance Period ('EPS CAGR') of 30%, 20% of this part of the award vesting for EPS CAGR of 15% and no part of this award vesting for EPS CAGR of less than 15%. Under the terms of the variation, the vesting period will now be four years, with the target EPS at the end of that period remaining as per the original targets.
30% of the LTIP Awards are assessed on the TSR of the Company over the vesting period. Following this variation, it will now be assessed over a four year period from date of grant, relative to that of those companies included in a basket of stocks 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 the after-tax value of any shares under the LTIP Awards for one year from the vesting date.
Set out below are the notifications, made in accordance with the requirements of the EU 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 Amendment
/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 Variation of the performance criteria, vesting
1) transaction period and holding period of the Award made
in July 2018. The vesting period of the Award
has been changed from 3 years to 4 years and
the performance criteria in respect of the
EPS element of the Award (that being 70% of
total) have been amended such that the original
target adjusted EPS to be achieved at the
end of the three year period is now to be
the target achieved after 4 years. The holding
period of the Award has been changed from
2 years to 1 year.
-------------------------- ----------------------------------------------------
c Price(s) and Price(s) Volume(s)
1) volume(s)
-------------------------- ----------------------- ---------------------------
Nil 20,820
-------------------------------------------------------- ---------------------------
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 17 July 2020
-------------------------- ----------------------------------------------------
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 Amendment
/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 Variation of the performance criteria, vesting
1) transaction period and holding period of the Award made
in July 2018. The vesting period of the Award
has been changed from 3 years to 4 years and
the performance criteria in respect of the
EPS element of the Award (that being 70% of
total) have been amended such that the original
target adjusted EPS to be achieved at the
end of the three year period is now to be
the target achieved after 4 years. The holding
period of the Award has been changed from
2 years to 1 year.
-------------------------- ----------------------------------------------------
c Price(s) and Price(s) Volume(s)
1) volume(s)
-------------------------- ----------------------- ---------------------------
Nil 20,820
-------------------------------------------------------- ---------------------------
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 17 July 2020
-------------------------- ----------------------------------------------------
f) Place of the London
transaction
-------------------------- ----------------------------------------------------
- Ends -
For further information:
Keystone Law Group plc
James Knight, Chief Executive Tel: +44 (0) 20 3319 3700
Officer
Ashley Miller, Finance Director www.keystonelaw.co.uk
Panmure Gordon (UK) Limited
(Nominated Adviser and Broker)
Dominic Morley (Corporate Finance) Tel: +44 (0) 20 7886
2500
Erik Anderson (Corporate Broking) www.panmure.com
Media enquiries:
Buchanan
Henry Harrison-Topham / Steph Watson Tel: +44 (0) 20 7466
5000
KeystoneLaw@Buchanan.uk.com www.buchanan.uk.com
Notes to editors
Notes to editors
Keystone Law is a UK Top 100, fast growing, profitable and cash generative challenger law firm. Established in 2002, Keystone is one of the first platform models disrupting the traditional law firms operating within the legal services mid-market. Keystone's model permits rapid scalability, enabling the Group to increase the number of revenue generating lawyers more quickly than the traditional model.
As a full service law firm, Keystone delivers conventional legal services across more than 20 service areas and over 50 industry sectors to a client base comprising predominantly of SMEs and private individuals. These services are delivered by over 325 experienced self-employed lawyers who work from their own offices; with no fixed remuneration their fees are calculated with direct reference to the income they generate for the Group. The lawyers are fully supported by the Group's central office team of approximately 45 employees, and are therefore able to focus entirely on business development and the delivery of legal work.
With the head office located in the heart of London's legal district on Chancery Lane, the Group uses its bespoke proprietary software platform to enable Keystone's lawyers to interact with the central office team and each other in an easy and efficient manner, whilst extensive networking and social events engender a strong sense of belonging to the Keystone family. The platform also drives interaction, co-operation and a strong corporate culture across the business.
Keystone joined the AIM market of the London Stock Exchange in November 2017, raising GBP15 million, under the ticker KEYS. More information can be found at: https://www.keystonelaw.com/
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
DSHGPUBGMUPUGPM
(END) Dow Jones Newswires
July 17, 2020 08:22 ET (12:22 GMT)
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