Establishment of LTIP and Grant of Options
Updated : 09:33
Forward Partners Group plc
("Forward Partners" or the "Company")
Establishment of LTIP and Grant of Options
Forward Partners, the London-based investment firm specialising in supporting high growth, early-stage technology businesses, announces the following in connection with the establishment of a new long-term incentive plan (the "LTIP") and the grant of options pursuant to the LTIP.
The Board recognises the importance of long-term equity incentive schemes as a means to incentivise the Company's executive management and ensure alignment with the objectives of the Group. It is intended that options granted pursuant to the LTIP will vest subject to performance conditions linked to shareholder returns and target portfolio exits.
The Company confirms that following establishment of the LTIP, it has granted 323,318 Options to Nic Brisbourne, CEO of the Company. The Options have a six-year life and are exercisable at nominal value. Tiered vesting of the Options will be based on the achievement of performance conditions by 19 July 2024.
FORWARD PARTNERS GROUP PLC | Via Maitland/AMO |
Nic Brisbourne, Chief Executive Officer
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Liberum Capital Limited (Nominated Adviser and Broker) | Tel: +44 20 3100 2222 |
Neil Patel Lauren Kettle Edward Phillips Cara Murphy
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Maitland/AMO (Public Relations) | forwardpartners@maitland.co.uk |
Sam Turvey Kate Pledger
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The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019.
Notes to editors:
About Forward Partners
Founded in 2013, Forward Partners is an established and respected London-based investor, specialising in supporting high growth, early-stage technology businesses.
The Group brings together venture capital provider Forward Ventures, equity-free revenue-based financing through Forward Advances and highly specialised growth support from Forward Studio. This model supports founders to build stronger businesses faster to provide better outcomes for companies and investors alike.
The Group makes equity investments in early-stage, high growth UK companies, and from inception to its admission to London's AIM market in July 2021 had made over 60 unique investments and built a portfolio with an Initial Portfolio NAV in excess of £100m. It holds an eight-year track record of making venture capital investments, and targets underlying NAV growth of 20% per annum over the cycle.
The management team brings together highly experienced venture capitalists, entrepreneurs, and expert consultants. Since 2015, Forward Partners has been backed by BlackRock, one of the largest institutional investors in the world. The Group receives over 4,000 start-up funding applications every year.
For more information, visit https://forwardpartners.com.
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Nic Brisbourne | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| CEO | |||
b)
| Initial notification/Amendment
| Initial | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Forward Partners Group plc | |||
b)
| LEI
| 213800G3LF6776Y7IY64 | |||
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 financial instrument, type of instrument | Options over ordinary shares of one penny each | |||
Identification code | GB00BKPGBB09 | ||||
b)
| Nature of the transaction
| Grant of options over ordinary shares | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
1 pence | 323,318 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | N/A | ||||
- Price | |||||
e)
| Date of the transaction
| 21 December 2021 | |||
f) | Place of the transaction | Off-market transaction |
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