REG - Pennant Int. Group - Award of Options

Pennant InternationalAnnouncement

12/12/2024 07:00

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RNS Number : 7698P  Pennant International Group PLC  12 December 2024

 

FOR IMMEDIATE RELEASE                                                                                  12 December 2024

 

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                                       www.pennantplc.com (http://www.pennantplc.com/)
 David Clements, Company Secretary                                     +44 (0) 1452 714 914

 Zeus (Nomad)                                                           www.zeuscapital.co.uk (http://www.zeuscapital.co.uk/)

 Mike Coe / Sarah Mather (Investment Banking)                          +44 (0) 203 829 5000 (tel:+44%20203%20829%205000)

 Cavendish Capital Markets Limited (Broker)                            www.cavendish.com (http://www.cavendish.com/)
 Ben Jeynes / Callum Davidson / George Lawson (Corporate Finance)      +44 (0) 207 220 0500
 Michael Johnson / Dale Bellis / Sunila de Silva (Sales and Corporate
 Broking)

                                                                       pennant@walbrookpr.com (mailto:pennant@walbrookpr.com)

 Walbrook PR (Financial PR)
 Tom Cooper                                                            +44 (0)20 7933 8780

 Joe Walker                                                            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

 

 

 

 

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