TIDMFEN
RNS Number : 7903S
Frenkel Topping Group PLC
19 March 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Frenkel Topping Group plc
("Frenkel Topping" or the "Company")
Implementation of New Long-Term Incentive Plan
Frenkel Topping (AIM: FEN), a specialist independent financial
advisor and asset manager focused on asset protection for
vulnerable clients, announces that upon the recommendation of the
Company's Remuneration Committee, it has approved the
implementation of a new long-term incentive plan ("LTIP") designed
to incentivise the Company's Executive Directors and members of the
Senior Management team (the "Participants").
The LTIP, has been established to encourage long-term value
creation for Frenkel Topping's shareholders and to align the
interests of the Participants with shareholders. Awards under the
LTIP take the form of options (the "Options") over the Company's
ordinary shares of 0.5 pence each ("Ordinary Shares") which, in
respect of the Directors, are exercisable from the 3rd anniversary
of the date of grant.
Frenkel Topping's Remuneration Committee believes that the
implementation of the LTIP will incentivise the Participants and
will also help the Company to attract and retain talented
individuals in the future.
Further details of the LTIP
The setting of LTIP key performance indicators (KPI) takes into
consideration the overarching aims of the Company and its
shareholders. It also considers the ability for the Directors to be
rewarded against a wider range of KPIs via the annual bonus
scheme.
It was agreed by the Remuneration Committee that the vesting
criteria be weighted 75% to share price performance, 12.5% to AuM
growth and 12.5% successful business integration.
Initial grants under the LTIP
As per the table below, a total of 5,000,000 Options have been
granted to Directors of Frenkel Topping. Grants to senior
management will be made in due course .
Director Position Options Granted Exercise Price Total Options
held
Richard Fraser CEO 2,000,000 0.5p 3,000,000
---------- ---------------- --------------- --------------
Elaine Cullen
Grant CFO 1,500,000 0.5p 1,500,000
---------- ---------------- --------------- --------------
Mark Holt COO 1,500,000 0.5p 2,333,501
---------- ---------------- --------------- --------------
It is expected that Ordinary Shares issued to satisfy the
exercise of Options will be made from the Company's Employee
Benefit Trust and therefore the exercise of Options will not have a
dilutive impact on the issued share capital of the Company.
For further information:
Frenkel Topping Group plc www.frenkeltopping.co.uk
Richard Fraser, Chief Executive Officer Tel: 0161 886 8000
finnCap Ltd Tel: 020 7220 0500
Carl Holmes/Giles Rolls (Corporate Finance)
Tim Redfern / Richard Chambers (ECM)
About Frenkel Topping Group:
The financial services firm consists of Frenkel Topping Limited,
Ascencia Investment Management, Obiter Wealth Management, Equatas
Accountants, Forth Associates, A & M Bacon Limited and Partners
in Costs Limited.
The group of companies specialises in providing financial advice
and asset protection services to clients at times of financial
vulnerability, with particular expertise in the field of personal
injury and clinical negligence.
With more than 30 years' experience in the industry, Frenkel
Topping has earned a reputation for commercial astuteness
underpinned by a strong moral obligation to its clients, employees
and wider society, with a continued focus on its Environmental,
Social and Governance (ESG) impact.
Through its core business, Frenkel Topping Limited, the firm
supports litigators pre-settlement in achieving maximum damages, by
providing expert witness services, and post-settlement to achieve
the best long-term financial outcomes for clients after injury. It
boasts a client retention rate of 99%.
The Group's discretionary fund manager, Ascencia, provides
financial portfolios for clients in unique circumstances. In recent
years Ascencia has diversified its portfolios to include a
Sharia-law-compliant portfolio and a number of ESG portfolios in
response to increased interest in socially responsible investing
(SRI).
Obiter provides a generalist wealth management service -
including advice on Savings and Investments; Tax planning; Life
Insurance; Critical Illness and Income protection; Endowment advice
and Keyman Insurance, with a particular specialism in financial
advice on pensions and pension sharing orders for the clients of
divorce and family lawyers. Obiter applies the same core principles
of honesty, transparency, responsibility and reliability to
individuals, regardless of background or situation.
In 2019, Frenkel Topping launched its accountancy arm, Equatas,
to assist clients with tax planning and move closer to providing a
full end-to-end service under the Group brand, improving the
experience for clients and maintaining the Group's standards
throughout the client journey.
In 2020 Frenkel Topping acquired Forth Associates, a specialist
forensic accounting services business which assists in financial
and legal disputes. The acquisition makes Frenkel Topping the
largest independent provider of financial expert witness reports to
the claimant marketplace.
In 2021 Frenkel Topping acquired A & M Bacon Limited a
leading costs specialist in local government and Court of
Protection, and Partners in Costs Limited who specialise in civil
litigation claims, including personal injury (ranging from
catastrophic injury to clinical negligence), professional
negligence, commercial claims and court of protection costs.
For more information visit: www.frenkeltoppinggroup.co.uk
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name 1. Richard Fraser
2. Elaine Cullen-Grant
3. Mark Holt
------------------------------- ----------------------------------------------
2. Reason for the Notification
-------------------------------------------------------------------------------
a) Position/status 1. CEO
2. CFO
3. COO
------------------------------- ----------------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- ----------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------
a) Name Frenkel Topping Group plc
------------------------------- ----------------------------------------------
b) LEI 213800I5L3K7AT7A4R20
------------------------------- ----------------------------------------------
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 the Options over Ordinary Shares of 0.5
Financial instrument, pence per share
type of instrument
Identification code GB00B01YXQ71
------------------------------- ----------------------------------------------
b) Nature of the transaction Grant of Options
------------------------------- ----------------------------------------------
c) Price(s) and volume(s) Name Volume(s) Price
(pence)
Richard Fraser 2,000,000 0.5
Elaine Cullen Grant 1,500,000 0.5
Mark Holt 1,500,000 0.5
----------- ---------
------------------------------- ----------------------------------------------
d) Aggregated information: As above
* Aggregated volume
* Price
------------------------------- ----------------------------------------------
e) Date of the transaction 18 March 2021
------------------------------- ----------------------------------------------
f) Place of the transaction Outside of trading venue
------------------------------- ----------------------------------------------
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END
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(END) Dow Jones Newswires
March 19, 2021 03:00 ET (07:00 GMT)
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