Alpha Group International Founder Grants Shares to Senior Team
Why we think this is neutral
This appears to be a routine director dealing announcement, with the founder transferring a significant number of shares to the senior leadership team as a retention and incentive measure. While the size of the grants is relatively large, they are being satisfied from the founder's personal holding and are subject to performance conditions, which could help align the team's interests with those of shareholders. Overall, the announcement does not seem to materially change the company's prospects or outlook.
Key Points
- Founder Morgan Tillbrook pledges 1,103,555 shares (worth £28m) from his personal holding to senior leadership team
- Grants in the form of nil-cost options, subject to performance conditions
- Recipients include CEO, CFO, CRO, and other senior employees, as well as two non-executive directors
- Founder commits to retaining a minimum 10% shareholding for at least three years
Summary
Alpha Group International plc, a global provider of financial solutions, has announced that its founder and former CEO, Morgan Tillbrook, has pledged 1,103,555 ordinary shares (worth around £28 million) from his personal holding to members of the senior leadership team. This is to both thank them for historic performance and incentivize them for future performance. The grants are in the form of nil-cost options that will vest over time, subject to certain conditions. The recipients include the CEO, CFO, CRO, and other senior employees, as well as two non-executive directors.