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ARGENTEX GROUP PLC — Remuneration Information 2020
Apr 8, 2020
7495_def-14a_2020-04-08_83f60031-9212-4fac-a128-84733c6f4a4c.html
Remuneration Information
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National Storage Mechanism | Additional information
RNS Number : 1313J
Argentex Group PLC
08 April 2020
8 April 2020
Argentex Group PLC
Grant of Awards under the Long-Term Incentive Plan
Argentex Group PLC, ("Argentex", the "Company" or the "Group"), the provider of foreign exchange services to institutions, corporates and high net worth private individuals, announces that on 7 April 2020 the Company granted options over a total of 4,528,300 new ordinary shares in the Company ("Ordinary Shares" and the "Awards"), under to the Company's 2019 Company Share Option Plan (the "CSOP"). A summary of the CSOP is set out in the Group's AIM Admission Document, a copy of which is available at www.argentex.com.
Under the CSOP, which is designed to incentivise and retain non-founder staff and align their interests with shareholders and the strategic objectives of the Group, awards were granted to 17 senior employees including Sam Williams, the Company's CFO. The Awards all have an exercise price of 135p, representing a 12.0% premium to the closing mid-market price of 120.5p on 6 April 2020, the day before the awards were made. To provide long-term alignment with shareholders, the awards will vest in portions of one third on the third, fourth and fifth anniversaries of grant. The Award to Sam Williams has an EPS growth performance condition attached.
The Awards represent, in aggregate, 4.0% of the existing issued ordinary share capital of the Company and, following these grants, the Company has a total of 4,754,708 unvested options pursuant to the CSOP, equating to approximately 4.2% of the existing issued ordinary share capital of the Company.
Following the Awards, PDMRs hold the following Ordinary Shares and options over Ordinary Shares:
| Name | Role | Grant of options over Ordinary Shares | Total number of options over Ordinary Shares | No. of existing Ordinary Shares |
| Carl Jani | Co-Chief Executive Officer, Co-Founder | - | - | 13,749,144 |
| Harry Adams | Co-Chief Executive Officer, Co-Founder | - | - | 13,749,144 |
| Andrew Egan | Managing Director, Co-Founder | - | - | 6,130,918 |
| Sam Williams | Chief Financial Officer | 452,830 | 452,830 | 148,413 |
| Kit Smith | Senior Executive | 452,830 | 452,830 | 1,484,123 |
| Daniel Merrick | Senior Executive | 271,698 | 271,698 | 508,859 |
| Joseph Duffelen | Senior Executive | 452,830 | 452,830 | 511,690 |
| Olivia Lang | Chief Compliance Officer | 181,132 | 181,132 | - |
Notification and public disclosure of transactions by persons discharging managerial responsibilities
| 1 | Details of the persons discharging managerial responsibilities/person closely associated | ||
| a) | Name | (i) Sam Williams - Chief Financial Officer (ii) Kit Smith - Senior Executive (iii) Daniel Merrick - Senior Executive (iv) Joseph Duffelen - Senior Executive (v) Olivia Lang - Chief Compliance Officer |
|
| 2 | Reason for the notification | ||
| a) | Position/status | Executive Director and PDMRs of the Company | |
| b) | Initial Notification/ Amendment | Initial Notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Argentex Group plc | |
| b) | Legal Entity Identifier | 2549007V7B928Q178194 | |
| 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 Identification code |
Ordinary shares of £0.0001 each ISIN - GB00BJLPH056 |
|
| b) | Nature of transaction | Grant of options | |
| c) | Currency | GBP | |
| d) | Price(s) and volume(s) | Exercise Price | No. of Ordinary Shares |
| 135 pence | (i) 452,830 | ||
| 135 pence | (ii) 452,830 | ||
| 135 pence | (iii) 271,698 | ||
| 135 pence | (iv) 452,830 | ||
| 135 pence | (v) 181,132 | ||
| e) | Aggregate information - Aggregate volume - Price - Aggregate total |
N/A - single transaction | |
| f) | Date of the transaction | 7 April 2020 | |
| g) | Place of the transaction | Outside a trading venue |
-ENDS-
For further information please contact:
Argentex Group PLC
Carl Jani, Harry Adams - Co-CEOs
(Via FTI Consulting)
FTI Consulting (Financial PR)
Ed Berry, Antonia Powell
Telephone: 0203 727 1046
Numis Securities Limited (Nominated Adviser and Broker)
Stephen Westgate, Charlie Farquhar, Laura White, Hugo Rubinstein
Telephone: +44 (0) 20 7260 1000
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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