TIDMAGFX

RNS Number : 5626Q

Argentex Group PLC

26 February 2021

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/    Initial Notification 
        Amendment 
      -----------------------  ------------------------------------------------ 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------- 
 a)    Name                     Argentex Group plc 
      -----------------------  ------------------------------------------------ 
       Legal Entity 
 b)     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              Ordinary shares of GBP0.0001 each 
        of the financial 
        instrument, 
        type of instrument 
                                 ISIN - GB00BJLPH056 
        Identification 
        code 
      -----------------------  ------------------------------------------------ 
 b)    Nature of transaction    Grant of options 
      -----------------------  ------------------------------------------------ 
 c)    Currency                 GBP 
      -----------------------  ------------------------------------------------ 
 d)    Price(s) and             452,830 Ordinary Shares with 135 pence exercise 
        volume(s)                price. 
      -----------------------  ------------------------------------------------ 
 e)    Aggregate information    N/A - single transaction 
        - Aggregate 
        volume 
        - Price 
        - Aggregate 
        total 
      -----------------------  ------------------------------------------------ 
 f)    Date of the              26 February 2021 
        transaction 
      -----------------------  ------------------------------------------------ 
 g)    Place of the             Outside a trading venue 
        transaction 
      -----------------------  ------------------------------------------------ 
 

-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

argentex@fticonsulting.com

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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END

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February 26, 2021 09:58 ET (14:58 GMT)

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