RNS Number : 5734G
Manolete Partners PLC
20 July 2023
 

20 July 2023

 

Manolete Partners Plc

 

("Manolete" or the "Company")

 

Grant of Share Options

 

Manolete (AIM:MANO), the leading UK-listed insolvency litigation financing company, announces that on 18 July 2023, it granted nominal cost share options over ordinary shares of 0.4p each in the Company to its executive directors as set out in the table below.

 

Director

Award type

Number of shares subject to option

Steven Cooklin

Performance share award

223,657

Mark Tavener

Performance share award

87,709

Philomena Halton

Performance share award

164,221

 

The options were granted under the Company's share option plan.

 

The performance share awards will ordinarily vest on the third anniversary of their grant subject to the grantee's continued service and the satisfaction of performance conditions based on (with equal weighting) (i) earnings per share for the Company's financial year ending 31 March 2026; (ii) average share price over the three months preceding the third anniversary of the grant of the options; and (iii) the Company's strategic objectives for the period of three financial years ending 31 March 2026. Sliding scale performance targets apply in respect of the earnings per share and average share price elements, with 25% of the relevant portion of each option vesting for threshold performance, rising on a straight-line basis for full vesting of the relevant portion of each option for stretch performance or better. The extent of vesting of the strategic element will be dependent on the Remuneration Committee of the Board's assessment of related performance.

 

Each option has a per share exercise price equal to the nominal value of a share.

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. The announcement, including the notification(s) below, is made in accordance with the requirements of the Market Abuse Regulation.

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Steven Cooklin

2.

Reason for the Notification

a)

Position/status

Chief Executive Officer

b)

Initial notification/Amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Manolete Partners plc

b)

LEI

213800R2X9V3KWCC4H47

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

Ordinary shares of 0.4p

Identification code

GB00BYWQCY12

b)

Nature of the transaction

Award of options over ordinary shares with an exercise price per ordinary share equal to the nominal value of an ordinary share

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

223,657

d)

Aggregated information:

-     Aggregated volume

-     Price

See 4 (c) above

e)

Date of the transaction

18 July 2023

 

f)

Place of the transaction

Outside of a trading venue 

 



1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mark Tavener

2.

Reason for the Notification

a)

Position/status

Chief Financial Officer

b)

Initial notification/Amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Manolete Partners plc

b)

LEI

213800R2X9V3KWCC4H47

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

Ordinary shares of 0.4p

Identification code

GB00BYWQCY12

b)

Nature of the transaction

Award of options over ordinary shares with an exercise price per ordinary share equal to the nominal value of an ordinary share

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

87,709

d)

Aggregated information:

-     Aggregated volume

-     Price

See 4 (c) above

 

e)

Date of the transaction

18 July 2023

 

f)

Place of the transaction

Outside of a trading venue 

 

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Philomena Halton

2.

Reason for the Notification

a)

Position/status

Managing Director

b)

Initial notification/Amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Manolete Partners plc

b)

LEI

213800R2X9V3KWCC4H47

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

Ordinary shares of 0.4p

Identification code

GB00BYWQCY12

b)

Nature of the transaction

Award of options over ordinary shares with an exercise price per ordinary share equal to the nominal value of an ordinary share

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

164,221

d)

Aggregated information:

-     Aggregated volume

-     Price

See 4 (c) above

e)

Date of the transaction

18 July 2023

 

f)

Place of the transaction

Outside of a trading venue 



For further information, please contact:

Manolete Partners 
Steven Cooklin (Chief Executive Officer)

via Instinctif Partners



Peel Hunt (NOMAD and Broker)
Paul Shackleton

+44 (0)20 7418 8900



Instinctif Partners (Financial PR)
Tim Linacre
Victoria Hayns

+44 (0)7949 939237

 

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