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Award of Options

12th Dec 2024 07:00

RNS Number : 7698P
Pennant International Group PLC
12 December 2024
 

 

FOR IMMEDIATE RELEASE 12 December 2024

PENNANT INTERNATIONAL GROUP PLC

 

Award of Options

 

 

Pennant International Group plc (AIM: PEN) (the "Company") announces that it has granted new EMI options over unissued ordinary shares of 5p each in the capital of the Company ("ordinary shares") to its executive directors, as per the table below (the "New Options"):

 

Director

Role

Number of ordinary shares under each New Option

 

Philip Walker

Chief Executive Officer

289,473

Darren Wiggins

Chief Financial Officer

400,000

David Clements

Commercial & Risk Director

100,000

 

The New Options are subject to vesting conditions tied to achieving growth in the Company's share price, vesting in tranches as and when certain milestones are achieved and the share price sustained at that level for at least 30 days, as follows:

 

Target share price

 

% of New Options vesting

 

 

50p

50%

75p

25%

100p

25%

 

In order for the New Options to vest, the target share price(s) must be achieved during the three years following the date of grant (the "Performance Period") and to the extent that the New Options have not vested during the Performance Period, the rights over the unissued shares will lapse. Any shares that are acquired pursuant to exercise of the New Options must be held by the relevant executive director for at least the Performance Period. The exercise price under the New Options is 28.5 per share.

 

The New Options are subject to further conditions contained in the Company's EMI scheme document, as approved by shareholder vote in 2019. Each executive director's New Options lapse should his employment cease.

The tables below provide further details for each PDMR. 

 

 

Enquiries:

 

 

Pennant International Group plc

www.pennantplc.com

David Clements, Company Secretary

+44 (0) 1452 714 914

Zeus (Nomad)

 www.zeuscapital.co.uk

Mike Coe / Sarah Mather (Investment Banking)

+44 (0) 203 829 5000

Cavendish Capital Markets Limited (Broker)

www.cavendish.com

Ben Jeynes / Callum Davidson / George Lawson (Corporate Finance)

+44 (0) 207 220 0500

Michael Johnson / Dale Bellis / Sunila de Silva (Sales and Corporate Broking) 

 

Walbrook PR (Financial PR)

[email protected]

Tom Cooper

Joe Walker

+44 (0)20 7933 8780

Mob: +44 (0)7407 020 470

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Philip Walker

2

 

Reason for the notification

 

a)

 

Position/status

Chief Executive Officer

b)

 

Initial notification /Amendment

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

Pennant International Group plc

b)

 

LEI

2138005AIIUYSRP5O254

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

 

Description of the financial instrument, type of instrument

Ordinary Shares of 5p each

Identification code

GB0002570660

b)

 

Nature of the transaction

Option award 

c)

 

Price(s) and volume(s)

Price(s)

Volume(s)

Award of shares

£0.285

289,473

d)

 

Aggregated information

Award of shares

- Aggregated volume

289,473

- Price

£82,499.81

e)

 

Date of the transaction

 

11 November 2024

f)

 

Place of the transaction

Outside a trading venue

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Darren Wiggins

2

 

Reason for the notification

 

a)

 

Position/status

Chief Financial Officer

b)

 

Initial notification /Amendment

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

Pennant International Group plc

b)

 

LEI

2138005AIIUYSRP5O254

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

 

Description of the financial instrument, type of instrument

Ordinary Shares of 5p each

Identification code

GB0002570660

b)

 

Nature of the transaction

Option award 

c)

 

Price(s) and volume(s)

Price(s)

Volume(s)

Award of shares

£0.285

400,000

d)

 

Aggregated information

Award of shares

- Aggregated volume

400,000

- Price

£114,000

e)

 

Date of the transaction

 

11 November 2024

f)

 

Place of the transaction

Outside a trading venue

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

David Clements

2

 

Reason for the notification

 

a)

 

Position/status

Commercial & Risk Director

b)

 

Initial notification /Amendment

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

Pennant International Group plc

b)

 

LEI

2138005AIIUYSRP5O254

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

 

Description of the financial instrument, type of instrument

Ordinary Shares of 5p each

Identification code

GB0002570660

b)

 

Nature of the transaction

Option award 

c)

 

Price(s) and volume(s)

Price(s)

Volume(s)

Award of shares

£0.285

100,000

d)

 

Aggregated information

Award of shares

- Aggregated volume

100,000

- Price

£28,500

e)

 

Date of the transaction

 

11 December 2024

f)

 

Place of the transaction

Outside a trading venue

 

 

 

 

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END
 
 
DSHFFFILFALLLIS

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