26 February 2021
Argentex Group PLC
Grant of Award 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 26 February 2021 the Company granted options over 452,830 new ordinary shares in the Company ("Ordinary Shares" and the "Award") under to the Company's 2019 Company Share Option Plan (the "CSOP") to Jo Stent, the Company's CFO. 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.
The Award have an exercise price of 135p, representing a 16% premium to the closing mid-market price of 116p on 25 February 2021, the day before the Award was made. To provide long-term alignment with shareholders, the Award will vest at the same time as the LTIP awards granted to other PDMRs in April 2020 in three equal tranches on 7 April 2023, 7 April 2024 and 7 April 2025. The Award has an EPS growth performance condition attached.
Following this grant, the Company has a total of 4,754,708 unvested options pursuant to the CSOP, equating to approximately 4% of the existing issued ordinary share capital of the Company.
Notification and public disclosure of transactions by persons discharging managerial responsibilities.
| 1 | Details of the persons discharging managerial responsibilities/person closely associated | |
| a) | Name | Jo Stent - Chief Financial Officer
|
| 2 | Reason for the notification | |
| a) | Position/status | Executive Director and PDMR 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) | 452,830 Ordinary Shares with 135 pence exercise price. |
| e) | Aggregate information - Aggregate volume - Price - Aggregate total | N/A - single transaction |
| f) | Date of the transaction | 26 February 2021 |
| g) | Place of the transaction | Outside a trading venue |
-ENDS-
For further information please contact:
Argentex Group PLC
Harry Adams - Co-CEO
(Via FTI Consulting)
FTI Consulting (Financial PR)
Ed Berry
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
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