Issue of Equity and Director Dealing

RNS Number : 2298K

Pennant International Group PLC

20 April 2020

 

FOR IMMEDIATE RELEASE     20 April 2020

PENNANT INTERNATIONAL GROUP PLC

Issue of Equity and Director Dealings

Pennant International Group plc ("Pennant", the "Group", or the "Company"), the AIM quoted supplier of integrated training and support solutions, products and services which train and assist operators and maintainers in the defence and regulated civilian sectors, announces a share issue to satisfy subscriptions under its employee Share Incentive Plan (the "SIP") and the award of options to a Director.

During the 2019-2020 subscription year, participating Group employees have sacrificed salary each month to save to buy shares under the SIP.

To satisfy those subscriptions, the Company has now issued an aggregate of 117,754 new ordinary shares of 5p each (the "SIP Shares"). The SIP Shares have been issued at 38p per share in accordance with the rules of the SIP, being the closing price on the final business day of the subscription period.

As participants in the SIP, Philip Walker (Chief Executive Officer) and David Clements (Commercial & Risk Director) have each subscribed for 4,736 SIP Shares.

Separately, the Company has granted to Mervyn Skates (under its existing EMI Share Option Scheme established in 2009) an option over 40,000 ordinary shares at an exercise price of 38.5p per share. The option has been granted in accordance with, and is subject to, the Scheme Rules and vests 29 months after the date of grant. The option lapses should Mr Skates cease to be employed by the Company.

The tables appearing beneath the 'Enquiries' section below provide further details for each Director in accordance with the requirements of the EU Market Abuse Regulation

Application for admission to trading on AIM for the 117,754 SIP Shares has been made and admission is expected to take place on or before 21 April 2020. The SIP Shares will rank pari passu with the existing ordinary shares in issue. The SIP Shares will represent approximately 0.32% per cent. of the Company's enlarged issued share capital on admission.

In accordance with the provision of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the issue of the SIP Shares, its issued ordinary share capital will comprise 36,446,385 ordinary shares of 5 pence each. All of the ordinary shares have equal voting rights and none of the ordinary shares are held in Treasury. The total number of voting rights in the Company will therefore be 36,446,385 on admission of the SIP Shares. The above figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interests in, or change to their interest in, the Company.

Enquiries:

Pennant International Group plc	www.pennantplc.co.uk
Philip Walker, CEO David Clements, Commercial & Risk Director	[phone]
WH Ireland Limited	www.whirelandcb.com
Mike Coe / Chris Savidge	[phone]
Walbrook PR (Financial PR)	[e-mail]
Paul Vann / Tom Cooper	[phone] [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	Purchase of shares under the Employees Share Incentive Plan.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
	Purchase of shares		38p	4,736
d)	Aggregated information		Award of shares
	- Aggregated volume		4,736
	- Price		£1,800
e)	Date of the transaction	21 April 2020
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	Purchase of shares under the Employees Share Incentive Plan.
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
	Purchase of shares		38p	4,736
d)	Aggregated information		Award of shares
	- Aggregated volume		4,736
	- Price		£1,800
e)	Date of the transaction	21 April 2020
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mervyn John Skates
2	Reason for the notification
a)	Position/status	Operations 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	Grant of option over unissued ordinary shares
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
	Option grant		£0	40,000
d)	Aggregated information		Award of shares
	- Aggregated volume		40,000
	- Price		£0
e)	Date of the transaction	21 April 2020
f)	Place of the transaction	London Stock Exchange, AIM

 

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