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 30^th 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)   [phone]

James Britton

Rishi Shah

Duncan Littlejohns

Liberum (Joint Broker)   [phone]

Richard Crawley

James Greenwood

Instinctif Partners (Financial PR)

Tim Linacre     [phone]

Lewis Hill   [phone]

 

END

 

 

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