REG - Argentex Group PLC - Cancellation of Long-Term Incentive Plan

ArgentexAnnouncement

09/10/2024 16:00

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RNS Number : 5558H  Argentex Group PLC  09 October 2024

9 October 2024

Argentex Group PLC

("Argentex" or the "Company")

Cancellation of Long-Term Incentive Plan

Argentex Group PLC (AIM: AGFX), the global expert in currency risk management
and alternative banking, today announces that it has lapsed all awards under
the Argentex Group Value Creation Plan (the "VCP") and cancelled the VCP.
The cancellation affects, amongst others, certain persons discharging
managerial responsibilities (PDMRs) and employees.

The Company believes that the VCP no longer aligns the interests of employees
and shareholders and the Remuneration Committee will look to put in place a
more appropriate long term incentive scheme moving forward.  Argentex will
inform the market of the new scheme at the relevant time.

For further information, please contact:

Argentex Group PLC
Jim Ormonde - Chief Executive Officer

Guy Rudolph - Chief Financial Officer

investorrelations@argentex.com

Teneo (Financial PR)
James Macey-White/Victoria Boxall/Rashida Salemahomed

argentex@teneo.com, 020 7260 2700

Singer Capital Markets (Nominated Adviser and Broker)
Tom Salvesen / James Maxwell / Asha Chotai

020 7496 3000

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         David Winney

 2    Reason for the notification
 a)   Position/status                                              Chief Compliance and Risk Officer

 b)   Initial notification /Amendment                              Initial

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Argentex Group plc

 b)   LEI                                                          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  Growth A shares and growth B shares, each in the capital of Argentex Capital

                                                                 Limited (a wholly owned subsidiary of the Company) under the VCP.

      Identification code                                          -

 b)   Nature of the transaction                                    Disposal of 400 Growth A Shares and 400 Growth B Shares to the Company at

                                                                 £85.00 per share.

 c)   Price(s) and volume(s)                                                             Transaction                                                                    Price(s)           Volume(s)

                                                                                       Transfer of growth A shares in the capital of Argentex Capital Limited to the  £85.00 per share   400
                                                                                         Company
                                                                                         Transfer of growth B shares in the capital of Argentex Capital Limited to the  £85.00 per share   400
                                                                                         Company

 d)   Aggregated information

      - Aggregated volume                                          N/A

      - Price

 e)   Date of the transaction                                      8 October 2024

 f)   Place of the transaction                                     Off-market transaction

 

 

 

 

 

 

 

d)

 

Aggregated information

 

 

 

- Aggregated volume

N/A

 

- Price

 

e)

 

Date of the transaction

8 October 2024

f)

Place of the transaction

Off-market transaction

 

 

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