Award of Options

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
David Clements, Company Secretary	[phone]
Zeus (Nomad)	www.zeuscapital.co.uk
Mike Coe / Sarah Mather (Investment Banking)	[phone]
Cavendish Capital Markets Limited (Broker)	www.cavendish.com
Ben Jeynes / Callum Davidson / George Lawson (Corporate Finance)	[phone]
Michael Johnson / Dale Bellis / Sunila de Silva (Sales and Corporate Broking)
Walbrook PR (Financial PR)	[e-mail]
Tom Cooper Joe Walker	[phone] Mob: [phone]

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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