8 November 2022

Mattioli Woods plc

("Mattioli Woods" or "the Company")

Grant of Options under Long Term Incentive Plan and

Notification of Transactions of Persons Discharging Managerial Responsibilities ("PDMRs")

As required by Article 19.3 of Regulation (EU) No. 596/2014 on market abuse, Mattioli Woods (AIM: MTW.L), the specialist wealth and asset management business, announces the grant of 450,000 conditional share awards under the Mattioli Woods 2022 Long Term Incentive Plan ("the LTIP") on 4 November 2022. 

The awards grant participating employees a conditional right to become entitled to options with an exercise price of 1 pence ("Nominal Cost Options") over ordinary shares of 1 pence each in the Company ("Ordinary Shares").  The vesting of the LTIP Awards is subject to the achievement of corporate profitability performance targets measured over either a five-year performance period ending on 31 May 2027 ("Tranche A"), or a three-year performance period ending on 31 May 2025 ("Tranche B").

Of the above grant, the Company has granted 204,000 awards of Nominal Cost Options ("the LTIP Awards") to the Company's executive directors and other persons discharging managerial responsibilities ("PDMRs").  The resulting interests of the PDMRs in Nominal Cost Options is as follows:

The LTIP Awards will normally vest following the publication of the Group's audited results for the last financial year of the relevant performance period.  The Remuneration Committee have set minimum shareholding requirements for all members of the executive team, with the Tranche B awards considered to be a route to meet these requirements in the medium term, where relevant.

Following the recent AGM the Remuneration Committee has confirmed that Nominal Cost Options received after vesting under Tranche B are subject to a minimum two-year hold, commencing from the end of the performance period to 31 May 2025.  During this period, Nominal Cost Options may be exercised, but the Ordinary Shares acquired must be retained, meaning that all awards have a minimum five year retention period.

The executive directors and PDMRs hold 608,300 of unexercised LTIP Nominal Cost Options, of which 30,000 are capable of being exercised.

As a result of this grant, the total number of options in issue is 1,419,459, equivalent to 2.8 percent of the current issued share capital of the Company.

In addition, on 4 November 2022 Simon Gibson, Chief Investment Officer and PDMR, bought 2,232 Ordinary Shares.  His total interest in Ordinary Shares after this share purchase (including Ordinary Shares held by his spouse) is:

The above information is provided by the Company in accordance with its obligations under the FCA's Disclosure and Transparency Rules. 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

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