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27 Apr 2023 10:57
27 April 2023
National World plc
("National World" or the "Company")
Block Listing Application
National World (NWOR.LSE) announces that an application has been made to the London Stock Exchange for 12,663,363 ordinary shares of 0.1 pence each in Company (the "New Ordinary Shares") to be admitted to the Official List of the UK Listing Authority under a block listing (the "Block Listing").
The Block Listing application relates to New Ordinary Shares to be issued from time to time to satisfy the allotment of shares pursuant to the Company's 2019 Value Creation Plan ("VCP"). As announced previously the VCP was put in place on Admission in September 2019 to support the delivery of the Company's strategy, to retain the lead executives and reward them for driving its successful delivery. The overall effect of the VCP was that the participants together were able to earn Ordinary Shares equivalent in value to 10% of any equity value created above an 8% compound annual growth rate based on the measurement of absolute total shareholder return generated over the VCP performance period. The share testing period for the VCP ended on 14 April 2023.
The Block Listing is expected to become effective on 3 May 2023. When issued, the New Ordinary Shares will rank pari passu with the Company's existing issued ordinary shares.
For further information, please contact:
National World plc
Douglas Easton
c/o Montfort Communications
Montfort Communications
Olly Scott
+44 (0)78 1234 5205
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