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 |
||
|
David Clements, Company Secretary |
+44 (0) 1452 714 914 |
|
|
Zeus (Nomad) |
||
|
Mike Coe / Sarah Mather (Investment Banking) |
||
|
Cavendish Capital Markets Limited (Broker) |
||
|
Ben Jeynes / Callum Davidson / George Lawson (Corporate Finance) |
+44 (0) 207 220 0500 |
|
|
Michael Johnson / Dale Bellis / Sunila de Silva (Sales and Corporate Broking) |
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|
Walbrook PR (Financial PR) |
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|
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 |
|||