Company Announcements

17 February 2023

Staffline Group plc

("Staffline", the "Company" or the "Group")

Grant of Options under 2023 Long-Term Incentive Plan

Staffline, the recruitment and training group, announces that, under the terms of the Company's 2023 long term incentive plan (the "2023 LTIP"), the Board has approved the award of and granted nil cost options (the "Options") over 4,709,040 ordinary shares of 10 pence each in the Company ("Ordinary Shares") to certain employees, including persons discharging managerial responsibilities ("PDMRs"), as set out below.

The Board believes it is key that the Group retains and incentivises Executive Directors and senior employees to drive the business forward, whilst aligning their interests with those of shareholders. The Group intends to continue to fully satisfy the exercise of options through purchases of Ordinary Shares by the Employee Benefits Trust in order to limit the level of dilution experienced by existing shareholders.

The vesting of the Options is subject to the satisfaction of the Company achieving certain financial performance criteria for the financial year ending 31 December 2025. For the Executive Directors and relevant central Group senior employees the financial performance criteria are based on the Group as a whole, with 50% of the Options awarded subject to achieving earnings per share hurdles and 50% subject to achieving underlying operating profit hurdles.  For senior employees operating within the divisions of the Group, their performance criteria are based 20% on the Group performance criteria, as above, and 80% on underlying operating profit hurdles relating to their own division.

The Options will vest from 14 February 2026 (the "Vesting Period") and will be exercisable until 14 February 2033.

The Options awarded to PDMRs are set out in the table below.

Following the grant, the total number of Options over Ordinary Shares under the 2023 LTIP is 4,709,040 representing 2.84% of the Company's issued share capital.

For further information, please contact:

Market Abuse Regulation:

For the purposes of MAR, Article 2 of Commission Implementing Regulation (EU) 2016/1055 and the UK version of such implementing regulation, the person responsible for arranging for the release of this Announcement on behalf of the Company is Daniel Quint, Chief Financial Officer.

About Staffline

Providing workforce solutions

Staffline is the UK's market leading Recruitment and Training group. It has three divisions:

Recruitment GB

Staffline is a leading provider of flexible blue-collar workers, supplying c.37,000 staff per day on average to around 450 client sites, across a wide range of industries including agriculture, supermarkets, drinks, driving, food processing, logistics and manufacturing.

Recruitment Ireland 

The Recruitment Ireland business is a leading end to end solutions provider operating across twenty industries, ten branch locations, fifteen onsite customer locations, supplying c.5,000 staff per day on average, and offering RPO, MSP, temporary and permanent solutions across the island of Ireland.

PeoplePlus Division

PeoplePlus is leading skills and employability business with a clear purpose to help people transform their lives, get jobs and keep jobs, and develop their careers. The division works with employers to develop workforces of the future, and with central, local and devolved governments to support their economic and social policy agendas.