Aim-listed Ashcourt Rowan is proposing a new share incentive plan which could see it give away 20 per cent of the company to management and employees if its share price reaches set targets.
The new share plan, being put to shareholders, will see a maximum of 20 per cent of the company owned by employee and management shareholders if the share price reaches £6 by September 1, 2016.
If the share price reaches its £6 target, chief executive Jonathan Polin (pictured) will own a 6.4 per cent stake in the firm, group financial officer Alfio Tagliabue will own 1.5 per cent and group chief operating officer Richard Sinclair will own 1.2 per cent.
This is tiered down to 70 per cent of the maximum if the share price is £4, 50 per cent if £3.50, 35 per cent if £3 and 20 per cent of that maximum should the share price reach £2.50.
There will be no shares issued through the plan if the value is less than £2.50.
The firm says confidential agreement will be reached with each employee dependent on the amount of revenue they bring into the firm. Ashcourt Rowan currently has around 100 financial advisers and investment managers.
An announcement to the stock exchange yesterday confirmed the company’s intention to put the proposal to shareholders at its annual general meeting on October 29.
Polin (pictured) says: “Giving our management and employees ambitious plans is central to our business strategy of becoming one of the UK’s leading wealth management groups.”