Last checked at 20 Apr 2020 13:58
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 | +44 (0) 1452 714 914 |
WH Ireland Limited | www.whirelandcb.com |
Mike Coe / Chris Savidge | +44 (0) 117 945 3470 |
Walbrook PR (Financial PR) | paul.vann@walbrookpr.com |
Paul Vann / Tom Cooper | +44 (0)20 7933 8780 +44 (0)7768 807631 |
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 | |||