Keystone Law Group PLC Director / PDMR shareholding (9271C)
June 20 2019 - 8:29AM
UK Regulatory
TIDMKEYS
RNS Number : 9271C
Keystone Law Group PLC
20 June 2019
20 June 2019
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 19 June 2019, 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'), which was approved by shareholders at the 2018 Annual
General Meeting.
Name Number of Shares under LTIP Awards
Ashley Miller (Executive Director,
Finance Director) 13,415
-----------------------------------
William Robins (PDMR) 13,415
-----------------------------------
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 15% delivering none of this element of the
LTIP Award, 15% CAGR delivering 20% of this element of the LTIP
Award and 100% of this element being granted for delivery of 26%
CAGR in adjusted EPS over the three-year period.
30% of the LTIP Awards will be assessed on the TSR of the
Company over the three-year period to 4 July 2021 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 EU Market Abuse Regulation, in relation to the
LTIP Award.
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 notification
/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 13,415
--------------------------------------------------------------------------- -----------------------------
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 19 June 2019
----------------------------------------- --------------------------------------------------------
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 notification
/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 13,415
---------------------------------------------------------------------------------------------------- ------------
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 19 June 2019
--------------------------------------------- -----------------------------------------------------------
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
Hannah Ratcliff 5000
KeystoneLaw@Buchanan.uk.com www.buchanan.uk.com
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 270
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 40 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: www.keystonelaw.co.uk/
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END
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