Argentex Group PLC Cancellation of Long-Term Incentive Plan
October 09 2024 - 10:00AM
RNS Regulatory News
RNS Number : 5558H
Argentex Group PLC
09 October 2024
9 October 2024
Argentex Group PLC
("Argentex" or the "Company")
Cancellation of
Long-Term Incentive Plan
Argentex Group PLC (AIM: AGFX), the global
expert in currency risk management and alternative banking, today
announces that it has lapsed all awards under the Argentex Group
Value Creation Plan (the "VCP") and cancelled the VCP. The
cancellation affects, amongst others, certain persons discharging
managerial responsibilities (PDMRs) and employees.
The Company believes that the VCP no longer
aligns the interests of employees and shareholders and the
Remuneration Committee will look to put in place a more appropriate
long term incentive scheme moving forward. Argentex will
inform the market of the new scheme at the relevant
time.
For further information, please
contact:
Argentex Group PLC
Jim Ormonde - Chief Executive Officer
Guy Rudolph - Chief Financial Officer
investorrelations@argentex.com
Teneo (Financial PR)
James Macey-White/Victoria Boxall/Rashida Salemahomed
argentex@teneo.com, 020 7260 2700
Singer Capital Markets (Nominated
Adviser and Broker)
Tom Salvesen / James
Maxwell / Asha Chotai
020 7496 3000
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
David Winney
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Compliance and Risk
Officer
|
|
b)
|
Initial notification /Amendment
|
Initial
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Argentex Group plc
|
|
b)
|
LEI
|
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
|
Growth A shares and growth B shares,
each in the capital of Argentex Capital Limited (a wholly owned
subsidiary of the Company) under the VCP.
|
|
|
|
|
Identification code
|
-
|
|
|
|
|
b)
|
Nature of the transaction
|
Disposal of 400 Growth A Shares and 400 Growth B
Shares to the Company at £85.00 per share.
|
|
c)
|
Price(s) and volume(s)
|
|
|
Transaction
|
Price(s)
|
Volume(s)
|
|
Transfer of growth A shares in the
capital of Argentex Capital Limited to the Company
|
£85.00 per share
|
400
|
|
Transfer of growth B shares in the
capital of Argentex Capital Limited to the Company
|
£85.00 per share
|
400
|
|
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information
|
|
|
|
|
|
-
Aggregated volume
|
N/A
|
|
|
|
|
-
Price
|
|
|
|
|
|
e)
|
Date of the transaction
|
8 October 2024
|
|
f)
|
Place of the transaction
|
Off-market transaction
|
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END
DSHUPGRCUUPCUBB
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