REG - Pennant Int. Group - Directors’ Subscriptions
02/08/2024 07:00
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RNS Number : 8987Y Pennant International Group PLC 02 August 2024
2 August 2024
PENNANT INTERNATIONAL GROUP PLC
("Pennant", the "Company" or the "Group")
Directors' Subscriptions
Pennant International Group plc (AIM:PEN), the systems support and training
solutions company, is pleased to announce that pursuant to the Fundraising
announced on 24 May 2024, the release of the Company's results on 21 June 2024
and the annual general meeting held on 17 July 2024, certain Directors and
members of the senior management team of the Company have subscribed for
772,000 new Ordinary Shares ("Directors' Subscription Shares") at an issue
price of 25p per share, being the same price as the Placing Shares and
Subscription Shares issued in connection with the Fundraising. Further
details on the Directors' individual subscriptions are set out in the table
below.
Director/PDMR Title Number of Director Subscription Shares subscribed for Holding following Admission Percentage of total voting rights held on Admission
Ian Dighé* Non-Executive Chairman 360,000 360,000 0.83%
Phil Walker CEO 52,000 125,145 0.29%
David Clements Commercial & Risk Director 40,000 124,508 0.29%
Deborah Wilkinson Non-Executive Director 200,000 200,000 0.46%
Total 652,000 809,653 1.9%
* includes 80,000 Ordinary Shares to be issued to Mr Dighé's spouse.
Admission, settlement and dealings
Application has been made for admission of the Directors' Subscription Shares
to trading on AIM, being the market of that name operated by the London Stock
Exchange ("Admission").
It is expected that Admission will take place on or around 8.00 a.m. on 5
August 2024 and that dealings in the Directors' Subscription Shares on AIM
will commence at the same time.
Following Admission, the Company will have 43,086,205 Ordinary Shares in
issue. The new Ordinary Shares to be issued will, when issued, be fully paid
and will rank pari passu in all respects with the Existing Ordinary Shares,
including the right to receive all dividends and other distributions declared,
made or paid after the date of issue.
Definitions
Capitalised terms used in this announcement have the meanings given to them in
the announcement made on 23 May 2024 regarding the Fundraising.
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://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)
Walbrook PR (Financial PR) pennant@walbrookpr.com (mailto:pennant@walbrookpr.com)
Tom Cooper +44 (0)20 7933 8780
Joe Walker Mob: +44 (0)7971 221 972
Notes to editors:
Pennant International Group plc (AIM: PEN) is a technology driven, leading
global provider of system support services, technical services, and training
solutions. It supports its global customer base in the design, development,
operation, maintenance, and training of complex assets, to maximise
operational and maintenance efficiency.
Its key markets include Aerospace, Defence and Rail, and adjacent
safety-critical markets such as Shipping, Nuclear and Space.
The Group addresses the market through three key business lines:
• Systems support: software tools designed to help clients: manage
and use complex data; ensure equipment availability at optimal cost; and
comply with industry standards. Its Integrated Product Support (IPS) and
Integrated Logistics Support (ILS) software and services equips customers with
powerful market-leading toolsets to manage, model and utilise complex
equipment data.
• Training solutions: provide hardware, software and virtual
solutions, critical skills training for maintainers and operators of aircraft,
ships and land systems.
• Technical services: support all Pennant's software and training
solutions including consultancy, support and maintenance, training and bespoke
development.
The Company's full product suite encompasses consultancy, technical
documentation, rail services, training services, and bespoke engineering
solutions.
Pennant is strategically focused on sustainable recurring revenue and
profitability growth, shifting its model towards high margin software and
services. Against a climate of rising defence budgets and the burgeoning
technological complexity of military, aviation and rail platforms, the demand
for these solutions is expected to grow substantially.
Headquartered in Cheltenham, UK, the Group operates worldwide, with offices in
Europe, North America and Indo-Pacific, serving markets with high barriers to
entry often in regulated industries.
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Ian Dighé
2 Reason for the notification
a) Position/status Non-Executive Chairman
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 Subscription of Ordinary Shares
c) Price(s) and volume(s)
Price(s) Volume(s)
Award of shares 25p 280,000
d) Aggregated information Award of shares
- Aggregated volume 280,000
- Price £70,000
e) Date of the transaction 2 August 2024
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Susan Dighé
2 Reason for the notification
a) Position/status Person Closely Associated (spouse of Ian Dighé)
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 Subscription of Ordinary Shares
c) Price(s) and volume(s)
Price(s) Volume(s)
Award of shares 25p 80,000
d) Aggregated information Award of shares
- Aggregated volume 80,000
- Price £20,000
e) Date of the transaction 2 August 2024
f) Place of the transaction London Stock Exchange, AIM
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 Subscription of Ordinary Shares
c) Price(s) and volume(s)
Price(s) Volume(s)
Award of shares 25p 52,000
d) Aggregated information Award of shares
- Aggregated volume 52,000
- Price £13,000
e) Date of the transaction 2 August 2024
f) Place of the transaction London Stock Exchange, AIM
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 Subscription of Ordinary Shares
c) Price(s) and volume(s)
Price(s) Volume(s)
Award of shares 25p 40,000
d) Aggregated information Award of shares
- Aggregated volume 40,000
- Price £10,000
e) Date of the transaction 2 August 2024
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Deborah Wilkinson
2 Reason for the notification
a) Position/status Non-Executive 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 Subscription of Ordinary Shares.
c) Price(s) and volume(s)
Price(s) Volume(s)
Award of shares 25p 200,000
d) Aggregated information Award of shares
- Aggregated volume 200,000
- Price £50,000
e) Date of the transaction 2 August 2024
f) Place of the transaction London Stock Exchange, AIM
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