Ashcourt Rowan PLC Share Based Staff Incentive Plan (1291O)

TIDMARP

RNS Number : 1291O

Ashcourt Rowan PLC

08 October 2012

8 October 2012

ASHCOURT ROWAN PLC

("Ashcourt Rowan" or the "Company")

Proposed New Management and Share Based Staff Incentive Plan

Ashcourt Rowan, the AIM listed wealth management group, announces details of a new share based incentive plan for management and staff (the "Plan") designed to give current and future management and staff the opportunity to share and engage in the Company's ambitious growth and development plans.

Implementation of the Plan is conditional on the approval by the Company's shareholders in a general meeting. Accordingly, the Company's board of directors have convened a general meeting to approve matters necessary to implement the Plan on 29 October 2012 (the "General Meeting"). A circular setting out the details of the Plan (the "Circular"), incorporating a notice convening the General Meeting, will be posted to shareholders today. The Circular and an associated form of proxy are available on the Company's website www.ashcourtrowan.com.

Improving staff incentivisation alignment was identified as a key component of the Change Management Programme (the "Programme") instigated by Group CEO Jonathan Polin when he joined the business in September 2011. The Programme is now well underway and progressing on track to deliver the anticipated efficiencies set out at the time of the Company's GBP8.5 million fundraising in November 2011. As a result, the business is now leaner, more focussed and better equipped to achieve its ambitions in the current financial year and beyond.

Jonathan Polin, Group CEO at Ashcourt Rowan commented:

"Giving our management and employees the opportunity to share in our ambitious plans is central to our business strategy of becoming one of the UK's leading wealth management groups. We already have a great team at Ashcourt Rowan and we want them, and those that choose to join us in future, to be as closely aligned as possible to what we are looking to achieve. I believe the plan we are putting forward will do just that."

For further information please contact:

 
 Jonathan Polin, CEO                 Ashcourt Rowan plc 
  jonathanpolin@ashcourtrowan.com     www.ashcourtrowan.com    +44 (0) 20 7871 7373 
 
   Martin Green / Bruce Garrow               Canaccord Genuity Limited         +44 (0) 20 7523 8350

Media enquiries:

 
                     MRM 
 Andrew Appleyard     www.mrm-london.com    +44 (0) 20 3326 9908

Notes to the editors:

Ashcourt Rowan is an AIM-listed wealth management business that specialises in financial planning and investment management for individuals and organisations. Headquartered in London the business has over GBP4bn of client assets under management and advice and in excess of 65,000 individual clients, which it services through a team of over 100 financial advisers and investment managers located in 16 offices spread across the UK. Further information on Ashcourt Rowan can be found at www.ashcourtrowan.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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