Grant of Share Options and deferred bonus award

About this update from Manolete Partners Plc

1 August 2022   Manolete Partners plc ("Manolete" or the "Company")     Grant of Share Options and deferred bonus award   Manolete, a leading UK insolvency litigation financing company announces that on 29 July 2022, it granted nominal cost share options over ordinary shares of 0.4p each in the Company to its executive directors as set out in the table below.   Director Award type Number of shares subject to option Steven Cooklin Performance share award 163,797 Mark Tavener Performance share award 64,234 Mark Tavener Deferred bonus award 16,058 Philomena Halton Performance share award 120,269   The options were granted under the Company's share option plan.   The performance share awards will ordinarily vest on the third anniversary of their grant subject to the grantee's continued service and the satisfaction of performance conditions based on (with equal weighting) (i) earnings per share for the Company's financial year ending 31 March 2025; (ii) average share price over the three months preceding the third anniversary of the grant of the options; and (iii) the group's strategic objectives for the period of three financial years ending 31 March 2025. Sliding scale performance targets apply in respect of the earnings per share and average share price elements, with 25% of the relevant portion of each option vesting for threshold performance, rising on a straight-line basis for full vesting of the relevant portion of each option for stretch performance or better. The extent of vesting of the strategic element will be dependent on the remuneration committee of the Board's assessment of related performance.   The deferred bonus award will ordinarily vest on the first anniversary of its grant subject to the grantee's continued service. The deferred bonus award relates to a deferred bonus awarded in shares for the Company's financial year ended 31 March 2022 and sits alongside the annual cash bonus disclosed in the latest report and accounts for the same year.   Each option has a per share exercise price equal to the nominal value of a share.   Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. The announcement, including the notification(s) below, is made in accordance with the requirements of the Market Abuse Regulation.   1. Details of the person discharging managerial responsibilities / person closely associated a) Name Steven Cooklin 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 Manolete Partners plc b) LEI 213800R2X9V3KWCC4H47 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 0.4p Identification code GB00BYWQCY12 b) Nature of the transaction Options over ordinary shares with an exercise price per ordinary share equal to the nominal value of an ordinary share c) Price(s) and volume(s) Price(s) Volume(s) Nil 163,797 d) Aggregated information: · Aggregated volume · Price See 4 (c) above e) Date of the transaction 29 July 2022   f) Place of the transaction Outside of a trading venue    1. Details of the person discharging managerial responsibilities / person closely associated a) Name Mark Tavener 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 Manolete Partners plc b) LEI 213800R2X9V3KWCC4H47 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 0.4p Identification code GB00BYWQCY12 b) Nature of the transaction Options over ordinary shares with an exercise price per ordinary share equal to the nominal value of an ordinary share c) Price(s) and volume(s) Price(s) Volume(s) Nil 64,234 Nil 16,058 d) Aggregated information: · Aggregated volume · Price See 4 (c) above · 80,292 e) Date of the transaction 29 July 2022   f) Place of the transaction Outside of a trading venue      1. Details of the person discharging managerial responsibilities / person closely associated a) Name Philomena Halton 2. Reason for the Notification a) Position/status Managing Director b) Initial notification/Amendment Initial notification 3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Manolete Partners plc b) LEI 213800R2X9V3KWCC4H47 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 0.4p Identification code GB00BYWQCY12 b) Nature of the transaction Options over ordinary shares with an exercise price per ordinary share equal to the nominal value of an ordinary share c) Price(s) and volume(s) Price(s) Volume(s) Nil 120,269 d) Aggregated information: · Aggregated volume · Price See 4 (c) above e) Date of the transaction 29 July 2022   f) Place of the transaction Outside of a trading venue    For further information, please contact: Manolete Partners Plc Via Instinctif Partners Steven Cooklin (Chief Executive Officer) Peel Hunt (NOMAD and Broker) +44 (0)20 7418 8900 Paul Shackleton James Britton Instinctif Partners (Financial PR) +44 (0)78 3767 4600 Tim Linacre [email protected] Victoria Hayns  

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