Award of Shares under Share Incentive Plan
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B.P. Marsh, the specialist investor in early stage financial services businesses, announces that on 11 April 2024 a total of 22,380 ordinary shares of 10 pence each in the Company ("Ordinary Shares") have been granted to eligible employees pursuant to a Share Incentive Plan (the "SIP") (as announced originally on 29 March 2016).
Under the SIP, Ordinary Shares are acquired in three ways:
- Partnership Shares, where an employee can purchase up to £1,800 worth of shares;
- Matching Shares, where B.P. Marsh can give up to two free Matching Shares for each Partnership Share bought; and
- Free Shares, where the Company can give each eligible employee up to £3,600 worth of free shares in any tax year.
In accordance with the SIP's rules, a total of 12 eligible employees applied for the 2024-25 SIP awards and have each been granted 746 Ordinary Shares ("2024-25 Free Shares"), representing £3,595.72 at a price of £4.82 per Ordinary Share. Furthermore, all eligible employees have elected to take up the opportunity to acquire 373 Ordinary Shares ("2024-25 Partnership Shares"), equating to £1,797.86 at a price of £4.82 per Ordinary Share. For every Partnership Share that an employee acquires, the SIP Trust has awarded two free Ordinary Shares ("2024-25 Matching Shares") equating to 746 Ordinary Shares to each participating employee. In aggregate, each eligible employee will hold an additional 1,865 Ordinary Shares under the SIP. The 2024-25 Free and Matching Shares are subject to a 1 year forfeiture period.
Certain Directors and other Persons Discharging Managerial Responsibilities ("PDMR") have participated in this award and further details of the Directors' and PDMRs' interests in Ordinary Shares (as at today's date, following the award of 2024-25 Free, Partnership and Matching Shares) are set out below:
| Participating Directors & PDMR | Total number of Ordinary Shares held under SIP | Total number of Ordinary Shares held under JSOP* | Total number of Ordinary Shares held directly |
|---|---|---|---|
| Alice Foulk | 25,809 | 117,614 | 23,428 |
| Daniel Topping | 26,396 | 167,465 | 139,760** |
| Jon Newman | 34,516 | 117,614 | 19,645 |
| Sinead O'Haire | 34,516 | 117,614 | 24,695 |
* The Company's Joint Share Ownership Plan, details of which were announced on 12 June 2018
**Including 11,434 shares held by Mr Topping's spouse and 1,758 shares held by Mr. Topping's daughter
The awards were made by utilising the 22,380 unallocated Ordinary Shares in the B.P. Marsh SIP Trust which had been transferred from Treasury on 8 April 2024.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Alice Foulk |
| 2 | Reason for notification | |
| a) | Position / status | Managing Director (PDMR) |
| b) | Initial notification / amendment | Initial |
| a) | Name | B.P. Marsh & Partners Plc |
| b) | LEI | 2138008G8EPE3HAHEM13 |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of 10 pence each |
| Identification code | ISIN: GB00B0XLRJ79 | |
| b) | Nature of the transaction | Purchase and grant of ordinary shares pursuant to the Company's SIP |
| c) | Price(s) and volumes(s) | Price(s) Volume(s) (i) 482p 373 (ii) nil 1,492 |
| d) | Aggregated information | N/A (single transactions) |
| e) | Date of the transaction | 2024-04-11 |
| f) | Place of the transaction | London Stock Exchange, AIM (XLON) |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Daniel Topping |
| 2 | Reason for notification | |
| a) | Position / status | Chief Investment Officer (PDMR) |
| b) | Initial notification / amendment | Initial |
| a) | Name | B.P. Marsh & Partners Plc |
| b) | LEI | 2138008G8EPE3HAHEM13 |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of 10 pence each |
| Identification code | ISIN: GB00B0XLRJ79 | |
| b) | Nature of the transaction | Purchase and grant of ordinary shares pursuant to the Company's SIP |
| c) | Price(s) and volumes(s) | Price(s) Volume(s) (i) 482p 373 (ii) nil 1,492 |
| d) | Aggregated information | N/A (single transactions) |
| e) | Date of the transaction | 2024-04-11 |
| f) | Place of the transaction | London Stock Exchange, AIM (XLON) |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Jonathan Newman |
| 2 | Reason for notification | |
| a) | Position / status | Group Finance Director (PDMR) |
| b) | Initial notification / amendment | Initial |
| a) | Name | B.P. Marsh & Partners Plc |
| b) | LEI | 2138008G8EPE3HAHEM13 |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of 10 pence each |
| Identification code | ISIN: GB00B0XLRJ79 | |
| b) | Nature of the transaction | Purchase and grant of ordinary shares pursuant to the Company's SIP |
| c) | Price(s) and volumes(s) | Price(s) Volume(s) (i) 482p 373 (ii) nil 1,492 |
| d) | Aggregated information | N/A (single transactions) |
| e) | Date of the transaction | 2024-04-11 |
| f) | Place of the transaction | London Stock Exchange, AIM (XLON) |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Sinead O'Haire |
| 2 | Reason for notification | |
| a) | Position / status | Chief Legal Officer & Group Company Secretary (PDMR) |
| b) | Initial notification / amendment | Initial |
| a) | Name | B.P. Marsh & Partners Plc |
| b) | LEI | 2138008G8EPE3HAHEM13 |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of 10 pence each |
| Identification code | ISIN: GB00B0XLRJ79 | |
| b) | Nature of the transaction | Purchase and grant of ordinary shares pursuant to the Company's SIP |
| c) | Price(s) and volumes(s) | Price(s) Volume(s) (i) 482p 373 (ii) nil 1,492 |
| d) | Aggregated information | N/A (single transactions) |
| e) | Date of the transaction | 2024-04-11 |
| f) | Place of the transaction | London Stock Exchange, AIM (XLON) |
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