13 December 2019
AJ Bell plc ('AJ Bell' or 'Company')
Further to the announcement on 5 December 2019 (RNS 7162V) of AJ Bell's plan to donate £10 million to charity via an innovative CSR initiative, AJ Bell today announces that on 12 December 2019 it granted options over 2,493,766 of the Company's ordinary shares of £0.000125 each (Ordinary Shares) at a price of £4.01 each to the A J Bell Trust (Trust), a registered charity and a person closely associated (PCA) with a person discharging managerial responsibility (PDMR), Andy Bell, the chief executive officer.
As the Trust is a member of a concert party in relation to the Company, the options were granted conditional upon the independent shareholders of the Company passing an ordinary resolution approving the grant of a waiver under rule 9 of the Takeover Code at the annual general meeting of the Company which is due to be held on 22 January 2020 (or any adjournment of that meeting). If that resolution is not passed, the options will lapse.
The Trust is a related party of the Company. The grant of options described in this announcement falls within Listing Rule 11.1.10R (smaller related party transactions) and this announcement is made in accordance with Listing Rule 11.1.10R(c).
For further information, please contact:
AJ Bell plc
Bruce Robinson, Company Secretary +44 (0) 780 234 4859
AJ Bell plc
Notification of person discharging managerial responsibilities/ person closely associated
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1. |
Details of the person discharging managerial responsibilities/ person closely associated |
a) |
Name |
A J Bell Trust |
2. |
Reason for the notification |
a) |
Position/status |
PCA with Andrew James Bell, Chief Executive Officer/PDMR |
b) |
Initial notification/ Amendment |
This is an initial notification |
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
AJ Bell plc |
b) |
LEI |
213800VNKA7DPWXWJJ36 |
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted |
a) |
Description of the financial instrument, type of instrument |
Ordinary shares of £0.000125 each |
Identification code |
ISIN: GB00BFZNLB60 |
b) |
Nature of the transaction |
Grant of options over Ordinary Shares which will be exercisable in three tranches dependent upon the increase in the diluted earnings per share exceeding target thresholds, subject to certain underpin conditions. Each tranche of options will ordinarily vest once it has been determined if, and the extent to which, the performance conditions set for that tranche have been satisfied, which will normally be within 75 days of the end of the relevant financial period. If and to the extent that any of the performance conditions are not satisfied by the applicable date, the relevant tranche of the options will lapse. See RNS 7162V dated 5 December 2019 for further detail on such performance conditions. |
c) |
Price(s) and volume(s) |
Financial period end |
Price(s) |
Volume(s) |
30 September 2022 |
£4.01 |
831,256 |
30 September 2023 |
£4.01 |
831,255 |
30 September 2024 |
£4.01 |
831,255 |
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d) |
Aggregated information Aggregated volume price |
Not applicable single transaction |
e) |
Date of the transaction |
12 December 2019 |
f) |
Place of the transaction |
Outside a trading venue |
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