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RNS Number : 7748O

Anpario PLC

12 October 2021

Anpario plc

("Anpario" or the "Company")

Director/PDMR Shareholding

Anpario announces that, on 11 October 2021, it has allotted a total of 50,000 new Ordinary Shares. The Ordinary Shares have been issued at a subscription price of 620 pence per Ordinary Share, being the closing price of an Ordinary Share on 8 October 2021, pursuant to The Anpario plc Employees' JSOP (the "Plan").

The Ordinary Shares have been issued into the respective joint beneficial ownership of (i) Marc Wilson, Group Finance Director, and (ii) the trustee of the Trust upon and subject to the terms of joint ownership agreements ("JOAs") respectively entered into between the Director concerned, the Company and the Trustee. The subscription price has been paid by the Trust out of funds advanced to it by the Company.

The terms of the JOAs provide, inter alia, that if jointly owned shares become vested and are sold, the proceeds of sale will be divided between the joint owners so that the participating Director receives an amount equal to any growth in the market value of the jointly owned Ordinary Shares above the initial market value of 620 pence per share, less a "carrying cost" (equivalent to simple interest at 4.5 per cent per annum on the initial market value) and the Trust receives the initial market value of the jointly owned shares plus the carrying cost. Jointly owned Ordinary Shares will become vested if the participant remains with the Company for a minimum period of 3 years.

Effect of the transactions

The beneficial interests held before and after the above transactions and remaining unchanged are:

 
 Director       Ordinary shares   SAYE options 
 Marc Wilson              9,676          5,577 
               ----------------  -------------

The jointly owned Ordinary Shares held by the Directors of the Company before and after the above transactions will be:

 
                      Interests in jointly owned     New interests in jointly owned         Interests in jointly owned 
                    Ordinary Shares prior to the       Ordinary Shares issued under      Ordinary Shares following the 
 Director                          transactions:                               JSOP                       transactions 
 Marc Wilson                              20,000                             50,000                             70,000 
               ---------------------------------  ---------------------------------  ---------------------------------

An application has been made to the London Stock Exchange plc for the admission to trading on AIM of 50,000 Ordinary Shares in respect of these shares awarded under the JSOP. It is expected that admission of these new Ordinary Shares will become effective on 15 October 2021 ("Admission"). These new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares in issue.

Following Admission, the Company's total issued share capital is 23,678,196 Ordinary Shares. The Company holds 440,388 Ordinary Shares in Treasury. Therefore, the total number of voting rights in the Company is 23,237,808. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

Share plan limits

On 16 September 2016, Anpario announced limits on future awards made under its share plans. That limit is the total number of new shares over which future awards may be made, when added to the total number of shares issued and issuable under awards granted on 16 September 2016 and any awards which are outstanding as at that date shall not exceed 16.3% of the total of the number of shares in issue from time to time.

The JSOP award mentioned above substantially utilises the remaining headroom under this share plan limit. Anpario considers it necessary to have in place a competitive senior executive employment package, including equity awards and to ensure that existing managers and directors are properly incentivised. As such, a review is currently being undertaken to determine potential future changes to share plan limits and awards, once this process has concluded then further details will be announced as appropriate.

Enquiries:

 
 Anpario plc 
 Richard Edwards, CEO                                               +44(0) 777 6417 129 
 Marc Wilson, Group Finance Director                                +44(0) 1909 537380 
                  Karen Prior, Corporate Responsibility Director 
                   & Company Secretary                              +44(0) 1909 537380 
 
 Peel Hunt LLP (NOMAD)                                              +44 (0)20 7418 8900 
 Adrian Trimmings 
 Andrew Clark 
 Will Bell

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