TIDMEQLS
RNS Number : 8160N
Equals Group PLC
26 September 2019
Equals Group plc
("Equals", the "Group" or the "Company")
Grant of Options
Equals, the e-banking and payments group, today announces that
it has granted 1,750,000 options over ordinary shares of 1 pence
each in the capital of the Company ("New Options") to the following
persons discharging managerial responsibilities ("PDMR's"):
Name Position New Options No. of options Total options
Granted held prior held following
to award grant
Chief Executive
Ian Strafford-Taylor Officer 750,000 4,268,000 5,018,000
----------------- ------------ --------------- ----------------
Group Finance
Richard Cooper* Director 500,000 0 500,000
----------------- ------------ --------------- ----------------
Chief Product
and Marketing
Ben Wynn Officer 500,000 0 500,000
----------------- ------------ --------------- ----------------
Appointment to the board of Equals effective from 14 October
2019.
The New Options give holders the right to subscribe for new
ordinary shares of 1 pence each in the capital of the Company
("Ordinary Shares") at an exercise price of 101.1 pence per
Ordinary Share. The options vest in 3 equal tranches after 1, 2 and
3 years from the date of grant subject to conditions relating to
continued employment being satisfied. For Ian Strafford-Taylor and
Ben Wynn, the date of grant is todays date whereas in the case of
Richard Cooper this will be from 14(th) October 2019, the date at
which he takes up his position.
The Remuneration Committee of the Company are also in the
process of establishing a Long-Term Incentive Plan (the "LTIP")
which will retain and motivate key senior executives over the
Company's next phase of development. The Remuneration Committee
intend to consult with major shareholders the principal terms of
the LTIP ahead of formally approving the plan.
Finally, as set out above, before the issue of New Options Mr
Strafford-Taylor held an interest in 4,268,000 options over
Ordinary Shares ("Existing Options"). A summary of the Existing
Options held by Mr Strafford-Taylor is set out below
No. of Existing Exercise price Date Granted Date Expires
Options
1,789,300 GBP0.36 22/07/2014 03/11/2019
--------------- ------------- -------------
1,535,750 GBP0.36 28/07/2014 03/11/2019
--------------- ------------- -------------
192,950 GBP0.22 22/07/2014 03/11/2019
--------------- ------------- -------------
750,000 GBP0.30 28/09/2016 27/09/2026
--------------- ------------- -------------
In addition, Dr Jules Bean, The Chief Technology Officer (CTO)
of Equals Group, holds Existing Options as per the summary
below
No. of Existing Exercise price Date Granted Date Expires
Options
200,000 GBP0.07 22/07/2014 03/11/2019
--------------- ------------- -------------
254,800 GBP0.22 22/07/2014 03/11/2019
--------------- ------------- -------------
400,000 GBP0.36 28/07/2014 03/11/2019
--------------- ------------- -------------
50,000 GBP0.30 28/09/2016 27/09/2026
--------------- ------------- -------------
3,518,000 Existing Options held by Mr Strafford-Taylor and
854,800 Existing Options held by Dr Bean expire on 03/11/2019. The
Remuneration Committee has agreed to extend the expiry date of the
total of 4,372,800 Existing Options to 03/11/2022.
The following disclosures are made in accordance with Article 19
of the EU Market Abuse Regulation 596/2014.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Ian Strafford Taylor
--------------------- ---------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Chief Executive Officer
--------------------- ---------------------------------------------
b) Initial notification Initial
/Amendment
--------------------- ---------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name Equals plc
--------------------- ---------------------------------------------
b) LEI 213800CPI5S2GYB3RI27
--------------------- ---------------------------------------------
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 financial Ordinary shares of 1p each
instrument,
type of instrument
Identification ISIN: GB00BLS0XX25
code
--------------------- ---------------------------------------------
b) Nature of Grant of options over new ordinary shares at
the transaction an exercise price of 101.1p per share
--------------------- ---------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) GBPNil 750,000
----------
--------------------- ---------------------------------------------
d) Aggregated
information N/A - single transaction
- Aggregated
volume
- Price
--------------------- ---------------------------------------------
e) Date of the 26 September 2019
transactions
--------------------- ---------------------------------------------
f) Place of Outside a trading venue
the transactions
--------------------- ---------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Richard Cooper
--------------------- -----------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------
a) Position/status Chief Financial Officer (appointment effective
from 14 October 2019)
--------------------- -----------------------------------------------
b) Initial notification Initial
/Amendment
--------------------- -----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name Equals plc
--------------------- -----------------------------------------------
b) LEI 213800CPI5S2GYB3RI27
--------------------- -----------------------------------------------
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 financial Ordinary shares of 1p each
instrument,
type of instrument
Identification ISIN: GB00BLS0XX25
code
--------------------- -----------------------------------------------
b) Nature of Grant of options over new ordinary shares at
the transaction an exercise price of 101.1p per share
--------------------- -----------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) GBPNil 500,000
----------
--------------------- -----------------------------------------------
d) Aggregated
information N/A - single transaction
- Aggregated
volume
- Price
--------------------- -----------------------------------------------
e) Date of the 26 September 2019
transactions
--------------------- -----------------------------------------------
f) Place of Outside a trading venue
the transactions
--------------------- -----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Ben Wynn
--------------------- ---------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Chief Product and Marketing Officer
--------------------- ---------------------------------------------
b) Initial notification Initial
/Amendment
--------------------- ---------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name Equals plc
--------------------- ---------------------------------------------
b) LEI 213800CPI5S2GYB3RI27
--------------------- ---------------------------------------------
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 financial Ordinary shares of 1p each
instrument,
type of instrument
Identification ISIN: GB00BLS0XX25
code
--------------------- ---------------------------------------------
b) Nature of Grant of options over new ordinary shares at
the transaction an exercise price of 101.1p per share
--------------------- ---------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) GBPNil 500,000
----------
--------------------- ---------------------------------------------
d) Aggregated
information N/A - single transaction
- Aggregated
volume
- Price
--------------------- ---------------------------------------------
e) Date of the 26 September 2019
transactions
--------------------- ---------------------------------------------
f) Place of Outside a trading venue
the transactions
--------------------- ---------------------------------------------
Contact:
Equals Group plc
Ian Strafford-Taylor, CEO +44 (0) 20 7778 9308
Cenkos Securities plc
Max Hartley/Callum Davidson
Nick Searle +44 (0) 20 7397 8900
Canaccord Genuity
Bobbie Hilliam / David Tyrrell
Alex Aylen +44 (0)20 7523 8150
Yellow Jersey
Charles Goodwin
Joe Burgess +44 (0) 7747 788 221
Annabel Atkins +44 (0) 7946 424 651
About Equals
Equals is a leading challenger brand in banking and payments
that disintermediates the incumbent banks with a superior user
experience and low-cost operating model. Our business enables
personal and business customers to make easy, low-cost payments
both domestically and in a broad range of currencies and across a
range of products all via one integrated system. The Equals
platform facilitates payments either direct to Bank Accounts or at
35 million merchants and over 1 million ATM's in a broad range of
countries globally via Mobile apps, the Internet, SMS, wire
transfer and MasterCard/VISA debit cards.
Equals provides money movement services to both personal and
business customers through four channels: Currency Cards, Physical
Currency, International Payments and Bank Accounts. The Currency
Card and Physical Currency offerings facilitate multiple overseas
payments at points of sale and ATM's whereas the International
Payments channel supports wire transfer foreign exchange
transactions direct to Bank Accounts. For Corporates, Equals has a
market-leading business-expenses solution based around its
corporate platform and prepaid card. This service can yield
significant savings on a Corporate's expenses and procurement both
domestically and overseas, through better controls and improved
transparency. The platform also streamlines the downstream
administrative processes and integrates into accounting software,
thus saving costs. Equals offers retail and business bank accounts
with all the functionality you would expect from a bank, namely
faster payments, BACs, direct debits, international payments and a
debit card.
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
DSHCKADPKBKDFCB
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September 26, 2019 07:02 ET (11:02 GMT)
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