REG - Manolete Partners - Grant of Share Options

Manolete PartnersAnnouncement

20/09/2024 07:00

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RNS Number : 9571E  Manolete Partners PLC  20 September 2024

20 September 2024

 

Manolete Partners plc

("Manolete" or the "Company")

Grant of Share Options

 

Manolete, a leading UK insolvency litigation financing company announces that
on 18 September 2024, 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   200,000
 Mark Tavener      Performance share award   200,000
 Philomena Halton  Performance share award   200,000

 

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 2027; (ii) average share
price over the five days 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 2027. 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.

 

 

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

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         1.    Steven Cooklin

                                                                  2.    Mark Tavener

                                                                  3.    Philomena Halton
 2.  Reason for the Notification
 a)  Position/status                                              1.    Chief Executive Officer

                                                                  2.    Chief Financial Officer

                                                                  3.    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)
                                                                  1 Nil       200,000
                                                                  2 Nil       200,000
                                                                  3 Nil       200,000
 d)  Aggregated information:                                      See 4 (c) above

     ·Aggregated volume

     ·Price
 e)  Date of the transaction                                      18 September 2024

 f)  Place of the transaction                                     Outside of a trading venue

d)

Aggregated information:

·Aggregated volume

·Price

See 4 (c) above

e)

Date of the transaction

18 September 2024

 

f)

Place of the transaction

Outside of a trading venue

 

For further information, please
contact:

 Manolete Partners                         via Instinctif Partners
 Steven Cooklin (Chief Executive Officer)

 Canaccord Genuity (NOMAD and Broker)      +44 (0)20 7523 8309
 Emma Gabriel

 Instinctif Partners                       manolete@instinctif.com
 Hannah Scott                              +44 (0)20 7457 2020

 Tim Linacre                               +44 (0)7949 939 237

 

 

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