Manolete Partners PLC Grant of Share Options
20 September 2024 - 4:00PM
RNS Regulatory News
RNS Number : 9571E
Manolete Partners PLC
20 September 2024
20 September 2024
Manolete Partners
plc
("Manolete" or the
"Company")
Grant of Share
Options
Manolete, a leading UK insolvency
litigation financing company announces that on 18 September 2024,
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
|
Award type
|
Number of shares subject to option
|
|
Steven Cooklin
|
Performance share award
|
200,000
|
|
Mark Tavener
|
Performance share award
|
200,000
|
|
Philomena Halton
|
Performance share award
|
200,000
|
The options were granted under the
Company's share option plan.
The performance share awards will
ordinarily vest on the third anniversary of their grant subject to
the grantee's continued service and the satisfaction of performance
conditions based on (with equal weighting) (i) earnings per share
for the Company's financial year ending 31 March 2027; (ii) average
share price over the five days preceding the third anniversary of
the grant of the options; and (iii) the group's strategic
objectives for the period of three financial years ending 31 March
2027. Sliding scale performance targets apply in respect of the
earnings per share and average share price elements, 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. The extent of vesting of the strategic element will be
dependent on the remuneration committee of the Board's assessment
of related performance.
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
|
1. Steven
Cooklin
2. Mark
Tavener
3.
Philomena Halton
|
|
2.
|
Reason for the Notification
|
|
a)
|
Position/status
|
1. Chief Executive
Officer
2. Chief Financial
Officer
3. Managing
Director
|
|
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
|
Options 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)
|
|
|
Price(s)
|
Volume(s)
|
|
1
|
Nil
|
200,000
|
|
2
|
Nil
|
200,000
|
|
3
|
Nil
|
200,000
|
|
|
d)
|
Aggregated information:
·Aggregated
volume
·Price
|
See 4 (c) above
|
|
e)
|
Date of the transaction
|
18 September 2024
|
|
f)
|
Place of the transaction
|
Outside of a trading
venue
|
For further information, please
contact:
|
Manolete Partners
|
via Instinctif Partners
|
|
Steven Cooklin (Chief Executive
Officer)
|
|
|
|
|
|
Canaccord Genuity (NOMAD and Broker)
|
+44 (0)20 7523 8309
|
|
Emma Gabriel
|
|
|
|
|
|
Instinctif Partners
|
manolete@instinctif.com
|
|
Hannah Scott
Tim Linacre
|
+44 (0)20 7457 2020
+44 (0)7949 939 237
|
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