Last checked at 9 Nov 2023 16:30
9 November 2023
RA INTERNATIONAL GROUP PLC
("RA International" or the "Company")
Cancellation of LTIP Options
RA International Group PLC (AIM: RAI), a specialist provider of complex and integrated remote site services to organisations globally, announces that it has commenced a process to cancel all outstanding share options previously awarded to employees under the Company's 2018 Long Term Incentive Plan ("LTIP").
On 8 November 2023, the Company executed agreements to cancel 2,698,061 outstanding share options previously awarded over various dates between October 2020 and June 2022 to 27 employees of the Company, including David Marshall who is considered to be a person discharging managerial responsibilities ("PDMR"). The cancellation requires the consent of each employee, which the Company expects to receive. On the basis all cancellation agreements are signed, a position the Company will confirm in its next financial results, zero options will remain outstanding.
The Company has no current plans to grant any further share options. The Remuneration Committee will look to put in place a more appropriate incentive scheme in the future.
Enquiries:
RA International Group plc Soraya Narfeldt, Chief Executive Officer Lars Narfeldt, Chief Operating Officer
| Via Strand Hanson |
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Strand Hanson Limited (Nominated & Financial Adviser and Broker) Ritchie Balmer / James Spinney / David Asquith
| +44 (0) 20 7409 3494 |
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1. | Details of the person discharging managerial responsibilities / person closely associated with them | |||
a) | Name | David Marshall | ||
2. | Reason for the Notification | |||
a) | Position / status | PDMR (Interim 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 | RA International Group plc | ||
b) | LEI | 213800N6RTATELJU6797 | ||
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 | Share options over ordinary shares of 10 pence each in the Company | ||
Identification code | RAI GB00BDZV6W26 | |||
b) | Nature of the transaction | Cancellation of options over ordinary shares
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c) | Price(s) and volume(s) | Price(s) | Volume(s) | |
N/A | 89,529 | |||
d) | Aggregated information Aggregated volume Price |
89,529 N/A | ||
e) | Date of the transaction | 8 November 2023 | ||
f) | Place of the transaction | Off market | ||
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.
About RA International
RA International is a leading provider of services to remote locations. The Company offers its services through three channels: construction, integrated facilities management and supply chain, and services two main client groups: humanitarian and aid agencies and western government organisations focusing on overseas projects. It has a strong customer base, largely comprising UN agencies, UK and US government departments and global corporations.
The Company provides comprehensive, flexible, mission critical support to its clients enabling them to focus on the delivery of their respective businesses and services. Focusing on integrity and values alongside making on-going investment in its people, locations and operations has over time created a reliable and trusted brand within its sector.