Company Announcements

23 February 2023

GATELEY (HOLDINGS) PLC

("Gateley" or the "Group" or the "Company")

(AIM: GTLY)

GRANT OF SHARE AWARDS, SHARE OPTIONS AND TOTAL VOTING RIGHTS

Gateley, the legal and professional services group, is pleased to announce its latest grant of annual share awards and awards under the Long-Term Incentive Plan to partners, senior employees, subsidiary company directors and PDMRs.

Both Restricted Share Awards ("RSAs") and Long-Term Incentive Plan awards ("LTIPs") form part of the Group's retention and incentivisation policy.  It is a continuation of the board's strategy to differentiate the position of a partner or director at Gateley from that of a partner in traditionally structured professional services businesses.

The board is committed to providing its people with the opportunity to own shares in the Company. Such share ownership promotes strong alignment with the Group's external shareholders, incentivises employees and is reflective of Gateley's long-established culture.  At least 64% of current employees are existing share or option holders in the Group.

The RSAs, which vest on receipt, are subject to a five-year non-dealing restriction and are forfeited should employment be terminated within that period.

LTIP awards over 1,320,000 Ordinary Shares of 10 pence each in the Company ("Ordinary Shares") have also been awarded today. LTIP awards vest at the end of a three-year period, dependent upon the achievement of profit related performance conditions and continuous employment.  Details of these performance conditions can be found in the Group's annual report.

The Gateley Employee Benefit Trust ("EBT") has also made an award to a director for outstanding contribution over an extended period, which will be satisfied from the EBT.

Issue of new Ordinary Shares and total voting rights

The board has agreed to allot and issue 1,175,000 Ordinary Shares to the EBT for the onward allocation to recipients of the RSA awards.

Application will be made to the London Stock Exchange for the 1,175,000 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will take place at 8.00am on 1 March 2023.

The new Ordinary Shares will rank pari passu with the existing Ordinary Shares in issue. Following Admission, Gateley's total issued share capital will comprise 126,596,494 Ordinary Shares. This number may be used by shareholders in Gateley as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of Gateley under the FCA's Disclosure Guidance and Transparency Rules.

Rod Waldie, Gateley Chief Executive Officer, said:

"As previously emphasised, the creation of wider share ownership across all levels of staff within the Group was one of our original goals when we became a public company in 2015. Our people are the bedrock on which the successful growth of the Group has been founded and they lie at the heart of our future growth ambitions.  These incentives are an important part of our strategy to incentivise and retain our emerging senior talent."

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