TIDMARGO

RNS Number : 0642O

ARGO Group Limited

05 October 2021

5(th) October 2021

Argo Group Limited ("AGL" or "the Company")

Grant of Options

Argo Group Limited, the independent alternative investment manager offering a multi-strategy platform for investing in global emerging markets, announces that it has granted as of 5(th) October 2021 new options ("New Options") over 3,645,998 ordinary shares of US$0.01 ("Ordinary Shares") of AGL to employees and directors under a new AGL Employment Stock Option Plan (the "New Plan"). These options replace similar options granted under the first Argo Group Limited Employment Stock Option Plan (adopted in 2008) (the "Original Plan").

The grants to directors are as follows:

   Director                                                            Number of New Options 
   Michael Kloter                                                    500,000 

(Chairman / Non-Executive)

   Andreas Rialas                                                   780,998 

(Executive Director)

   Kyriakos Rialas                                                   750,000 

(Executive Director)

   David Fisher                                                        250,000 

(Non-Executive Director)

   Kenneth Watterson                                             250,000 

(Non-Executive Director)

All New Options are exercisable at 21p per Ordinary Share subject to continued employment or being a director of the Company and all vest immediately.

There remain unexpired options over 250,000 Ordinary Shares held by employees under the Original Plan. In total, there are 3,895,998 options over Ordinary Shares to employees and directors under the Original Plan and the New Plan.

The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation is appended below.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

 
  1   Details of the persons discharging managerial responsibilities 
       / persons closely associated 
 a)   Names                       Michael Kloter (MK), Chairman / Non-Executive 
                                   Director 
                                   Andreas Rialas, Executive Director (AR) 
                                   Kyriakos Rialas, Executive Director 
                                   (KR) 
                                   David Fisher, Non-Executive Director 
                                   (DF) 
                                   Kenneth Watterson, Non-Executive (KW) 
                                   (Collectively, the "Board Members") 
     --------------------------  ---------------------------------------------- 
 2    Reason for the notification 
     -------------------------------------------------------------------------- 
 a)   Position/status             All of the Board Members are PDMRs 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                        Argo Group Limited 
     --------------------------  ---------------------------------------------- 
 b)   LEI                         2138006AZQPG1K8GHO83 
     --------------------------  ---------------------------------------------- 
 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          Options over Ordinary Shares of US$0.01 
       financial instrument,       each 
       type of instrument 
     --------------------------  ---------------------------------------------- 
 b)   Identification code          IM00B2RDSS92 
     --------------------------  ---------------------------------------------- 
 c)   Nature of the transaction    Grant of Options 
     --------------------------  ---------------------------------------------- 
 d)   Price(s) and volume(s)      Price(s) Volume(s) 
                                   In the case of MK: 
                                   Nil-cost 
                                   500,000 options over Ordinary Shares 
                                   In the case of AR: 
                                   Nil-cost 
                                   780,998 options over Ordinary Shares 
                                   In the case of KR: 
                                   Nil-cost 
                                   750,000 options over Ordinary Shares 
                                   In the case of DF: 
                                   Nil-cost 
                                   250,000 options over Ordinary Shares 
                                   In the case of KW: 
                                   Nil-cost 
                                   250,000 options over Ordinary Shares 
     --------------------------  ---------------------------------------------- 
 d)   Aggregated information 
       - Aggregated volume          1,530,998 options over Ordinary Shares 
       - Price                      Nil-cost 
     --------------------------  ---------------------------------------------- 
 e)   Date of the transaction     5 October 2021 
     --------------------------  ---------------------------------------------- 
 f)   Place of the transaction    London Stock Exchange 
     --------------------------  ---------------------------------------------- 
 

For further information, please contact:

Argo Group Limited

Andreas Rialas

020 7016 7660

Panmure Gordon

Dominic Morley

020 7886 2500

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