3 Dec 2021 07:00
3 December 2021
Manolete Partners plc
("Manolete" or the "Company")
Grant of Share Options
Manolete, a leading UK insolvency litigation financing company announces that on 2 December 2021, it granted nominal cost share options over ordinary shares of 0.4p each in the Company to its executive directors as set out in the table below.
Director | Number of shares subject to option |
Steven Cooklin | 172,235 |
Mark Wrenford Tavener | 66,579 |
The options were granted under the Company's share option plan and will vest subject to the satisfaction of performance conditions based on (with equal weighting) (i) earnings per share for the Company's financial year ended 31 March 2024 and (ii) average share price over the three months preceding the third anniversary of the grant of the options. Sliding scale performance targets apply, with 25% of the relevant portion of each option vesting for threshold performance, rising on a straight-line basis for full vesting of the relevant portion of each option for stretch performance or better.
Each option has a per share exercise price equal to the nominal value of a share.
Notification and public disclosure of transactions by persons discharging managerial responsibilities 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 | Ordinary shares of 0.4p | ||||
Identification code | GB00BYWQCY12 | |||||
b) | Nature of the transaction | Option over ordinary shares with an exercise price per ordinary share equal to the nominal value of an ordinary share | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: ·Aggregated volume ·Price | See 4 (c) above | ||||
e) | Date of the transaction | 2 December 2021
| ||||
f) | Place of the transaction | Outside of 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 | Ordinary shares of 0.4p | ||||
Identification code | GB00BYWQCY12 | |||||
b) | Nature of the transaction | Option over ordinary shares with an exercise price per ordinary share equal to the nominal value of an ordinary share | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: ·Aggregated volume ·Price | See 4 (c) above | ||||
e) | Date of the transaction | 2 December 2021
| ||||
f) | Place of the transaction | Outside of a trading venue | ||||
For further information, please contact:
Manolete Partners Plc via Instinctif Partners
Steven Cooklin (Chief Executive Officer)
Peel Hunt (NOMAD and Sole Broker) +44 (0)20 7418 8900
James Britton
Rishi Shah
Instinctif Partners (Financial PR) +44 (0) 7837 674600
Tim Linacre
George Peele
Manolete Partn. (MANO)