Network International Holdings PLC Director shareholding related to pre-IPO awards (4472Y)
09 September 2020 - 4:00PM
UK Regulatory
TIDMNETW
RNS Number : 4472Y
Network International Holdings PLC
09 September 2020
Network International Holdings Plc
ACQUISITION OF SHARES UNDER ACCELERATED VESTING OF A PORTION OF
PRE-IPO CASH AWARDS
Network International Holdings plc (LSE: NETW) (the Company) has
on 7(th) September 2020 (the Acquisition Date), accelerated the
vesting of a portion of the final tranche of the pre-IPO cash
awards for the Group CEO and the Group CFO on the condition that
they acquire ordinary shares in the Company (the Shares). This is
in line with the corresponding ordinary resolution which was voted
in favour (99.78%) by shareholders at the Annual General Meeting.
The wider leadership team was since then invited to participate in
this programme on similar terms.
The number of shares acquired by each PDMR are summarised
below:
Name Number of Shares Acquired
Simon Haslam 200,295
--------------------------
Rohit Malhotra 167,536
--------------------------
Samer Soliman 171,565
--------------------------
Andrew Key 79,348
--------------------------
The acquired Shares will be subject to a holding period and
released on the same terms and conditions as the relevant portion
of the pre-IPO cash awards for which vesting was accelerated.
Participants will be entitled to dividends equivalent by
reference to dividend record dates between the Acquisition Date and
the expiry of the holding period, but released to each PDMR at the
end of the holding period.
Considering the recent acquisition of DPO Group and the terms of
the non-pre-emptive equity placing, the Remuneration Committee (the
Committee) determined that the share price at which equity was
raised through an accelerated book building process at GBP4.10 (the
ABB price), was a fair and appropriate price for the acquisition of
the Shares for both shareholders and management. It shows
commitment to investment in the equity of the Company on the same
basis as third party investors and it supports the Committee's
desire for management to make a material long-term equity
investment in the businesses they manage. It should be noted that
this is a change of approach in determining the number of Shares
from previously disclosed in April 2020 (i.e. an average of up to
30 trading days preceding the Acquisition Date) as at that time the
share price was considerably lower than the ABB price.
A copy of the FCA notification form in respect of the
acquisition of shares by each PDMR, as required under the EU Market
Abuse Regulation and in the prescribed format, is set out
below.
Notification of a Transaction pursuant to Article 19(1) of
Regulation (EU) No. 596/2014.
1 Details of PDMR
a. Name Simon Haslam
------------------------------ ---------------------------------
2 Reason for Notification
------------------------------ ---------------------------------
a. Position / Status Group Chief Executive Officer
------------------------------ ---------------------------------
b. Initial Notification Initial Notification
/ Amendment
------------------------------ ---------------------------------
3 Details of the Issuer
------------------------------ ---------------------------------
a. Name Network International Holdings
Plc
------------------------------ ---------------------------------
b. Legal Entity Identifier 213800VRNKWENNLKK60
------------------------------ ---------------------------------
4 Details of the Transaction(s)
------------------------------ ---------------------------------
a. Description of the Shares
Financial Instrument
------------------------------ ---------------------------------
b. Identification Code GB00BH3VJ782
------------------------------ ---------------------------------
c. Nature of the Transaction Acquisition of Shares in
line with ordinary resolution
20, as approved by shareholders
at the AGM.
------------------------------ ---------------------------------
d. Date & Place of Transaction 7 September 2020, London
Stock Exchange, Main Market
(XLON)
------------------------------ ---------------------------------
e. Price(s) and Volume(s) Price Volume
------------------------------ ---------------------------------
GBP 4.10 200,295 Ordinary
Shares
------------------------------ ---------------------------------
f. Additional information
------------------------------ ---------------------------------
- Aggregated volume N/A Single transaction
------------------------------ ---------------------------------
- Aggregated price N/A Single transaction
------------------------------ ---------------------------------
1 Details of PDMR
a. Name Rohit Malhotra
------------------------------ ---------------------------------
2 Reason for Notification
------------------------------ ---------------------------------
a. Position / Status Group Chief Financial Officer
------------------------------ ---------------------------------
b. Initial Notification Initial Notification
/ Amendment
------------------------------ ---------------------------------
3 Details of the Issuer
------------------------------ ---------------------------------
a. Name Network International Holdings
Plc
------------------------------ ---------------------------------
b. Legal Entity Identifier 213800VRNKWENNLKK60
------------------------------ ---------------------------------
4 Details of the Transaction(s)
------------------------------ ---------------------------------
a. Description of the Shares
Financial Instrument
------------------------------ ---------------------------------
b. Identification Code GB00BH3VJ782
------------------------------ ---------------------------------
c. Nature of the Transaction Acquisition of Shares in
line with ordinary resolution
20, as approved by shareholders
at the AGM.
------------------------------ ---------------------------------
d. Date & Place of Transaction 7 September 2020, London
Stock Exchange, Main Market
(XLON)
------------------------------ ---------------------------------
e. Price(s) and Volume(s) Price Volume
------------------------------ ---------------------------------
GBP 4.10 167,536 Ordinary
Shares
------------------------------ ---------------------------------
f. Additional information
------------------------------ ---------------------------------
- Aggregated volume N/A Single transaction
------------------------------ ---------------------------------
- Aggregated price N/A Single transaction
------------------------------ ---------------------------------
1 Details of PDMR
a. Name Samer Soliman
------------------------------ ---------------------------------
2 Reason for Notification
------------------------------ ---------------------------------
a. Position / Status Managing Director - Middle
East
------------------------------ ---------------------------------
b. Initial Notification Initial Notification
/ Amendment
------------------------------ ---------------------------------
3 Details of the Issuer
------------------------------ ---------------------------------
a. Name Network International Holdings
Plc
------------------------------ ---------------------------------
b. Legal Entity Identifier 213800VRNKWENNLKK60
------------------------------ ---------------------------------
4 Details of the Transaction(s)
------------------------------ ---------------------------------
a. Description of the Shares
Financial Instrument
------------------------------ ---------------------------------
b. Identification Code GB00BH3VJ782
------------------------------ ---------------------------------
c. Nature of the Transaction Acquisition of Shares under
the accelerated vesting of
a portion of their pre-IPO
awards.
------------------------------ ---------------------------------
d. Date & Place of Transaction 7 September 2020, London
Stock Exchange, Main Market
(XLON)
------------------------------ ---------------------------------
e. Price(s) and Volume(s) Price Volume
------------------------------ ---------------------------------
GBP 4.10 171,565 Ordinary
Shares
------------------------------ ---------------------------------
f. Additional information
------------------------------ ---------------------------------
- Aggregated volume N/A Single transaction
------------------------------ ---------------------------------
- Aggregated price N/A Single transaction
------------------------------ ---------------------------------
1 Details of PDMR
a. Name Andrew Key
------------------------------ -------------------------------
2 Reason for Notification
------------------------------ -------------------------------
a. Position / Status Managing Director - Africa
------------------------------ -------------------------------
b. Initial Notification Initial Notification
/ Amendment
------------------------------ -------------------------------
3 Details of the Issuer
------------------------------ -------------------------------
a. Name Network International Holdings
Plc
------------------------------ -------------------------------
b. Legal Entity Identifier 213800VRNKWENNLKK60
------------------------------ -------------------------------
4 Details of the Transaction(s)
------------------------------ -------------------------------
a. Description of the Shares
Financial Instrument
------------------------------ -------------------------------
b. Identification Code GB00BH3VJ782
------------------------------ -------------------------------
c. Nature of the Transaction Acquisition of Shares under
the accelerated vesting of
a portion of their pre-IPO
awards.
------------------------------ -------------------------------
d. Date & Place of Transaction 7 September 2020, London
Stock Exchange, Main Market
(XLON)
------------------------------ -------------------------------
e. Price(s) and Volume(s) Price Volume
------------------------------ -------------------------------
GBP 4.10 79,348 Ordinary
Shares
------------------------------ -------------------------------
f. Additional information
------------------------------ -------------------------------
- Aggregated volume N/A Single transaction
------------------------------ -------------------------------
- Aggregated price N/A Single transaction
------------------------------ -------------------------------
Enquiries
Network International InvestorRelations@Network.Global
Amie Gramlick: Head of Investor
Relations
Finsbury network-lon@finsbury.com
James Leviton, Rob Allen: Media
Relations
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