Last checked at 9 Apr 2019 07:00
FOR IMMEDIATE RELEASE 9 April 2019
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 that it has launched a Share Incentive Plan ("SIP") for employees and, in connection therewith, has made an award of free shares to all eligible employees.
The SIP has been established in accordance with the statutory scheme for share incentive plans and is available to all UK tax-resident employees of the Group (subject to certain eligibility criteria relating to length of service). It is subject to the dilution limits prescribed within the Company's 2009 EMI scheme.
In aggregate, the award of free shares is over 73,903 new ordinary shares of 5p each (the "SIP Shares") and includes awards of 2,880, 2,080 and 1,920 SIP Shares to Philip Walker (Chief Executive Officer), David Clements (Commercial & Risk Director) and Gary Barnes (Finance Director), respectively. The tables appearing beneath the 'Enquiries' section below provide further details in accordance with the requirements of the EU Market Abuse Regulation
The SIP Shares are held by a trust constituted for that purpose and, save for certain specified exceptions, the SIP Shares of any employee leaving the Group within the next three years will be forfeited in their entirety.
Certain employees, including the above-named directors, have also elected to sacrifice salary each month to save to subscribe for further shares under the SIP (subject to the statutory annual limit per employee), such subscriptions being intended to complete in April 2020.
Application for admission to trading on AIM for the 73,903 SIP Shares has been made and admission is expected to take place on 15 April 2019. The SIP Shares will rank pari passu with the existing ordinary shares in issue. The SIP Shares will represent approximately 0.2% 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 36,114,596 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 36,114,596 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
| Award of shares under the Employees Share Incentive Plan. | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Award of shares | 125p | 2,880 | |||
d)
| Aggregated information | Award of shares | |||
- Aggregated volume | 2,880 | ||||
- Price | £3,600 | ||||
e)
| Date of the transaction
| 09/04/2019 | |||
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
| Award of shares under the Employees Share Incentive Plan. | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Award of shares | 125p | 2,080 | |||
d)
| Aggregated information | Award of shares | |||
- Aggregated volume | 2,080 | ||||
- Price | £2,600 | ||||
e)
| Date of the transaction
| 09/04/2019 | |||
f)
| Place of the transaction | London Stock Exchange, AIM | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Gary Barnes | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Finance 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
| Award of shares under the Employees Share Incentive Plan. | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Award of shares | 125p | 1,920 | |||
d)
| Aggregated information | Award of shares | |||
- Aggregated volume | 1,920 | ||||
- Price | £2,400 | ||||
e)
| Date of the transaction
| 09/04/2019 | |||
f)
| Place of the transaction | London Stock Exchange, AIM | |||