REG - Argentex Group PLC - Director/PDMR Shareholding

ArgentexAnnouncement

08/04/2020 07:00

RNS Number : 1313J
  
Argentex Group PLC
  
08 April 2020
  
 

 
8 April 2020
Argentex Group PLC
Grant of Awards under the Long-Term Incentive Plan
 
Argentex Group PLC, ("Argentex", the "Company" or the "Group"), the provider of foreign exchange services to institutions, corporates and high net worth private individuals, announces that on 7 April 2020 the Company granted options over a total of 4,528,300 new ordinary shares in the Company ("Ordinary Shares" and the "Awards"), under to the Company's 2019 Company Share Option Plan (the "CSOP"). A summary of the CSOP is set out in the Group's AIM Admission Document, a copy of which is available at www.argentex.com. 
 
Under the CSOP, which is designed to incentivise and retain non-founder staff and align their interests with shareholders and the strategic objectives of the Group, awards were granted to 17 senior employees including Sam Williams, the Company's CFO.  The Awards all have an exercise price of 135p, representing a 12.0% premium to the closing mid-market price of 120.5p on 6 April 2020, the day before the awards were made. To provide long-term alignment with shareholders, the awards will vest in portions of one third on the third, fourth and fifth anniversaries of grant. The Award to Sam Williams has an EPS growth performance condition attached. 
 
The Awards represent, in aggregate, 4.0% of the existing issued ordinary share capital of the Company and, following these grants, the Company has a total of 4,754,708 unvested options pursuant to the CSOP, equating to approximately 4.2% of the existing issued ordinary share capital of the Company.
 
Following the Awards, PDMRs hold the following Ordinary Shares and options over Ordinary Shares:
 



Name


Role


Grant of options over Ordinary Shares


Total number of options over Ordinary Shares


No. of existing Ordinary Shares




Carl Jani


Co-Chief Executive Officer, Co-Founder


-


-


13,749,144




Harry Adams


Co-Chief Executive Officer, Co-Founder


-


-


13,749,144




Andrew Egan


Managing Director, Co-Founder


-


-


6,130,918




Sam Williams


Chief Financial Officer


452,830


452,830


148,413




Kit Smith


Senior Executive


452,830


452,830


1,484,123




Daniel Merrick


Senior Executive


271,698


271,698


508,859




Joseph Duffelen


Senior Executive


452,830


452,830


511,690




Olivia Lang


Chief Compliance Officer


181,132


181,132


-



 
 
Notification and public disclosure of transactions by persons discharging managerial responsibilities 
 



1


Details of the persons discharging managerial responsibilities/person closely associated




a)


Name


(i)         Sam Williams - Chief Financial Officer
(ii)        Kit Smith - Senior Executive
(iii)       Daniel Merrick - Senior Executive 
(iv)       Joseph Duffelen - Senior Executive
(v)        Olivia Lang - Chief Compliance Officer




2


Reason for the notification




a)


Position/status


Executive Director and PDMRs of the Company




b)


Initial Notification/ Amendment


Initial Notification




3


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




a)


Name 


Argentex Group plc




b)


Legal Entity Identifier


2549007V7B928Q178194




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
 
Identification code


Ordinary shares of £0.0001 each 
 
 
 
ISIN - GB00BJLPH056




b)


Nature of transaction


Grant of options




c)


Currency


GBP




d)


Price(s) and volume(s)


Exercise Price


No. of Ordinary Shares




135 pence


(i)            452,830




135 pence


(ii)           452,830




135 pence


(iii)          271,698




135 pence


(iv)         452,830




135 pence


(v)          181,132




e)


Aggregate information
- Aggregate volume
- Price
- Aggregate total


N/A - single transaction




f)


Date of the transaction


7 April 2020




g)


Place of the transaction


Outside a trading venue



 
 
-ENDS-
 
For further information please contact:
Argentex Group PLC
Carl Jani, Harry Adams - Co-CEOs 
(Via FTI Consulting)
FTI Consulting (Financial PR)
Ed Berry, Antonia Powell
Telephone: 0203 727 1046
argentex@fticonsulting.com
 
Numis Securities Limited (Nominated Adviser and Broker)
Stephen Westgate, Charlie Farquhar, Laura White, Hugo Rubinstein

Telephone: +44 (0) 20 7260 1000
 
 
 


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