Grant of new options
Norman Broadbent plc has granted options over 345,000 ordinary shares at a nominal value of five pence per share to executive directors and employees under its EMI Share Option Scheme. These options vest over three years and are contingent upon achieving performance conditions related to Net Fee Income, share price, and underlying EBITDA, with specific targets set for vesting commencement and full vesting. The CEO, Kevin Davidson, received 85,750 options, while CFO Mehr Malik and COO Sean Bergin each received 56,750 options. Following this grant, 345,000 options are outstanding, representing 17.2% of the company's issued share capital.
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Norman Broadbent (AIM: NBB), a leading Executive Search and Interim Management firm, with an ambitious growth plan to scale the business through disciplined investment in fee-earning capacity, announces that , on 14 August 2026, (the "Date of Grant"), it granted options over, in aggregate, 345,000 ordinary shares of £0.05 each ("Ordinary Shares") in the Company ("Options") to both Executive Directors and certain employees (the "Grant") under its Enterprise Management Incentive Share Option Scheme (the "Scheme"). The Options are exercisable at nominal value of five pence per Ordinary Share.
The Options will vest over a three-year period from date of grant and are subject to the achievement of three performance conditions. Up to 50% of the Options will vest based on cumulative Net Fee Income performance, up to 30% based on the Company's share price performance, and the remaining 20% based on cumulative underlying EBITDA[1] performance.
For the Net Fee Income target, vesting begins at £40.6m and reaches full vesting at £49.6m or above. For the share price target, vesting begins at an average share price of £2.50 and reaches full vesting at £4.50 or above. For the EBITDA target, vesting begins at £2.8m and reaches full vesting at £3.4m or above.
The following table sets out details of the Options that have been granted to the Executive Directors and one person discharging managerial responsibilities ("PDMR"):
| Name of Individual | Director/PDMR | Total Number of Options granted | Percentage of the Company's Existing Issued Share Capital | Percentage of the Company's Fully Diluted Share Capital held [2] |
|---|---|---|---|---|
| Kevin Davidson | CEO | 85,750 | 4.3% | 3.4% |
| Mehr Malik | CFO | 56,750 | 2.8% | 2.3% |
| Sean Bergin | COO and PDMR | 56,750 | 2.8% | 2.3% |
| Total | 199,250 |
[1] excludes share-based payment charges and restructuring costs.
[2] assuming that no further Ordinary Shares are issued between the date of this announcement and exercise of the Options.
Following the grant of the Options, there are 345,000 options over Ordinary Shares outstanding representing 17.2 per cent. of the Company's issued share capital. At the date of this announcement, the Company has 2,008,893 Ordinary Shares in issue.
The FCA notification, made in accordance with the requirements of the UK Market Abuse Regulation is appended further below.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Kevin Davidson CEO Mehr Malik CFO Sean Bergin COO |
| 2 | Reason for the notification | |
| a) | Position/status | See 1a) above |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Norman Broadbent Plc |
| b) | LEI | 213800E5YN5TA934XA23 |
| a) | Description of the financial instrument, type of instrument Identification code | Options over ordinary shares of £0.05 each in Norman Broadbent Plc Identification code (ISIN) for Norman Broadbent Plc ordinary shares: GB00B3VF4Y66 |
| b) | Nature of the transaction | Grant of options |
| c) | Price(s) and volume(s) | Name Price(s) Volume(s) Kevin Davidson nil 85,750 Mehr Malik nil 56,750 Sean Bergin nil 56,750 |
| d) | Aggregated information - Aggregated volume - Price | N/A |
| e) | Date of the transactions | Options put in place as of 14 August 2026 |
| f) | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.