Grant of Share Options

RNS Number : 6886A
Manolete Partners PLC
01 October 2020
 

Manolete Partners plc
("Manolete" or the "Company")

Grant of Share Options

Manolete, a leading UK insolvency litigation financing company announces that on 30th September 2020 it granted nominal cost share options over ordinary shares of 0.4p each in the Company, under the LTIP scheme.

The options will vest subject to the satisfaction of performance conditions based on Earnings Per Share in the Company's financial year ended 31 March 2023. 

Each option has a per share exercise price equal to the nominal value of a share.

Director / PDMR

Number of shares subject to option

Financial Year to which the EPS performance condition applies

Steven Cooklin

134,000

Financial year ending 31 March 2023

Mark Wrenford Tavener

134,000

Financial year ending 31 March 2023

The awards will vest following assessment of the performance condition which is an EPS target relating to the financial year ended 31 March 2023. A minimum threshold achievement would result in 25% of the award vesting, a Target EPS would result in 75% vesting and a maximum EPS would result in 100% of the award vesting.

 

Notification and public disclosure of transactions by PDMRs and persons closely associated with them

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Steven Cooklin

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

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

Options over ordinary shares at an exercise price equal to the nominal value of an Ordinary Share per share.

b)

Identification code

ISIN: GB00BYWQCY12

c)

Nature of the transaction

Grant of options

d)

Price(s) and volume(s)

 

Price

Number of ordinary shares over which Options have been granted

N/A

134,000

 

e)

Aggregated information

- Aggregate volume

- Price 

 

134,000

N/A

f)

Date of the transaction

30th September 2020

g)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Mark Wrenford Tavener

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

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

Options over ordinary shares at an exercise price equal to the nominal value of an Ordinary Share per share.

b)

Identification code

ISIN: GB00BYWQCY12

c)

Nature of the transaction

Grant of options

d)

Price(s) and volume(s)

 

Price

Number of ordinary shares over which Options have been granted

N/A

134,000

 

e)

Aggregated information

- Aggregate volume

- Price 

 

134,000

N/A

f)

Date of the transaction

30th September 2020

g)

Place of the transaction

Outside a trading venue

 

For further information, please contact:

Manolete Partners Plc   via Instinctif Partners

 

Peel Hunt (NOMAD and Joint Broker)   +44 (0)20 7418 8900

James Britton

Rishi Shah

Duncan Littlejohns

 

Liberum (Joint Broker)   +44 (0)20 3100 2000

Richard Crawley

James Greenwood

 

Instinctif Partners (Financial PR)

Tim Linacre     +44 (0)7949 939237

Lewis Hill   +44 (0)7837 674600

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCEAPNEDSLEEFA
UK 100

Latest directors dealings