3rd Feb 2021 11:30
RBG Holdings PLC - London-based law firm - Announces directors of subsidiary Convex Capital Ltd acquired 45,067 shares at a price of 78.56 pence per share for GBP35,405. Notes Convex Capital Chief Executive Mike Driver now has a 2.7% stake in RBG, and partners Chris Froggatt and Nathalie Hodgkinson now own 1.0% and 0.3% stakes respectively. Says shares were purchased as part of an agreement between the directors of Convex and RBG to exchange their fixed base salary arrangements for a flexible commission structure directly linked to income from completed deals.
"This new commission scheme replaces the deferred consideration arrangements under the sale and purchase agreement with the Convex Capital sellers, announced at the time of the acquisition in September 2019. This deferred consideration was due to be payable one year after completion of the purchase, based on certain performance criteria, which were not met due to the pandemic," says RBG.
Current stock price: 83.11 pence, up 7.9% on Wednesday
Year-to-date change: up 41%
By Zoe Wickens; [email protected]
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