RA International Group PLC Cancellation of LTIP Options (9946S)
November 09 2023 - 10:30AM
UK Regulatory
TIDMRAI
RNS Number : 9946S
RA International Group PLC
09 November 2023
9 November 2023
RA INTERNATIONAL GROUP PLC
("RA International" or the "Company")
Cancellation of LTIP Options
RA International Group PLC (AIM: RAI), a specialist provider of
complex and integrated remote site services to organisations
globally, announces that it has commenced a process to cancel all
outstanding share options previously awarded to employees under the
Company's 2018 Long Term Incentive Plan ("LTIP").
On 8 November 2023, the Company executed agreements to cancel
2,698,061 outstanding share options previously awarded over various
dates between October 2020 and June 2022 to 27 employees of the
Company, including David Marshall who is considered to be a person
discharging managerial responsibilities ("PDMR"). The cancellation
requires the consent of each employee, which the Company expects to
receive. On the basis all cancellation agreements are signed, a
position the Company will confirm in its next financial results,
zero options will remain outstanding.
The Company has no current plans to grant any further share
options. The Remuneration Committee will look to put in place a
more appropriate incentive scheme in the future.
Enquiries:
RA International Group plc Via Strand Hanson
Soraya Narfeldt, Chief Executive Officer
Lars Narfeldt, Chief Operating Officer
Strand Hanson Limited (Nominated & Financial
Adviser and Broker) +44 (0) 20 7409
Ritchie Balmer / James Spinney / David Asquith 3494
1. Details of the person discharging managerial responsibilities
/ person closely associated with them
a) Name David Marshall
---------------------------------- --------------------------------------------
2. Reason for the Notification
--------------------------------------------------------------------------------
a) Position / status PDMR (Interim Chief Financial Officer)
---------------------------------- --------------------------------------------
b) Initial notification Initial notification
/amendment
---------------------------------- --------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------
a) Name RA International Group plc
---------------------------------- --------------------------------------------
b) LEI 213800N6RTATELJU6797
---------------------------------- --------------------------------------------
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 Share options over ordinary shares
the financial instrument of 10 pence each in the Company
----- ---------------------------------- --------------------------------------------
Identification RAI GB00BDZV6W26
code
----- ---------------------------------- --------------------------------------------
b) Nature of the transaction Cancellation of options over ordinary
shares
---------------------------------- --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
N/A 89,529
d) Aggregated information
Aggregated volume 89,529
Price N/A
---------------------------------- --------------------------------------------
e) Date of the transaction 8 November 2023
---------------------------------- --------------------------------------------
f) Place of the transaction Off market
---------------------------------- --------------------------------------------
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018, as amended by virtue of the Market Abuse
(Amendment) (EU Exit) Regulations 2019.
About RA International
RA International is a leading provider of services to remote
locations. The Company offers its services through three channels:
construction, integrated facilities management and supply chain,
and services two main client groups: humanitarian and aid agencies
and western government organisations focusing on overseas projects.
It has a strong customer base, largely comprising UN agencies, UK
and US government departments and global corporations.
The Company provides comprehensive, flexible, mission critical
support to its clients enabling them to focus on the delivery of
their respective businesses and services. Focusing on integrity and
values alongside making on-going investment in its people,
locations and operations has over time created a reliable and
trusted brand within its sector.
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END
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