REG - RA Intnl Group PLC - Cancellation of LTIP Options

Ra InternationalAnnouncement

09/11/2023 16:30

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RNS Number : 9946S  RA International Group PLC  09 November 2023

9 November 2023

RA INTERNATIONAL GROUP PLC

 

("RA International" or the "Company")

 

Cancellation of LTIP Options

 

RA International Group PLC (AIM: RAI), a specialist provider of complex and
integrated remote site services to organisations globally, announces that it
has commenced a process to cancel all outstanding share options previously
awarded to employees under the Company's 2018 Long Term Incentive Plan
("LTIP").

On 8 November 2023, the Company executed agreements to cancel 2,698,061
outstanding share options previously awarded over various dates between
October 2020 and June 2022 to 27 employees of the Company, including David
Marshall who is considered to be a person discharging managerial
responsibilities ("PDMR"). The cancellation requires the consent of each
employee, which the Company expects to receive. On the basis all cancellation
agreements are signed, a position the Company will confirm in its next
financial results, zero options will remain outstanding.

The Company has no current plans to grant any further share options. The
Remuneration Committee will look to put in place a more appropriate incentive
scheme in the future.

 Enquiries:

 RA International Group plc                                                                 Via Strand Hanson

 Soraya Narfeldt, Chief Executive Officer

 Lars Narfeldt, Chief Operating Officer

 Strand Hanson Limited (Nominated & Financial Adviser and Broker)                           +44 (0) 20 7409 3494

 Ritchie Balmer / James Spinney / David Asquith

 1.                       Details of the person discharging managerial responsibilities / person closely
                          associated with them
 a)                       Name                                     David Marshall
 2.                       Reason for the Notification
 a)                       Position / status                        PDMR (Interim 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                                     RA International Group plc
 b)                       LEI                                      213800N6RTATELJU6797
 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  Share options over ordinary shares of 10 pence each in the Company
                          Identification code                      RAI GB00BDZV6W26
 b)                       Nature of the transaction                Cancellation of options over ordinary shares

 c)                       Price(s) and volume(s)                   Price(s)                 Volume(s)
                          N/A                                                                                        89
                                                                                                                     ,5
                                                                                                                     29
 d)                       Aggregated information

                          Aggregated volume                        89,529

                          Price                                    N/A
 e)                       Date of the transaction                  8 November 2023
 f)                       Place of the transaction                 Off market

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

About RA International

RA International is a leading provider of services to remote locations. The
Company offers its services through three channels: construction, integrated
facilities management and supply chain, and services two main client groups:
humanitarian and aid agencies and western government organisations focusing on
overseas projects. It has a strong customer base, largely comprising UN
agencies, UK and US government departments and global corporations.

 

The Company provides comprehensive, flexible, mission critical support to its
clients enabling them to focus on the delivery of their respective businesses
and services. Focusing on integrity and values alongside making on-going
investment in its people, locations and operations has over time created a
reliable and trusted brand within its sector.

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