Manolete Partners PLC Grant of Share Options (6886A)

TIDMMANO

RNS Number : 6886A

Manolete Partners PLC

01 October 2020

Manolete Partners plc

("Manolete" or the "Company")

Grant of Share Options

Manolete, a leading UK insolvency litigation financing company announces that on 30(th) September 2020 it granted nominal cost share options over ordinary shares of 0.4p each in the Company, under the LTIP scheme.

The options will vest subject to the satisfaction of performance conditions based on Earnings Per Share in the Company's financial year ended 31 March 2023.

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

 
 Director / PDMR   Number of shares subject      Financial Year to which 
                           to option           the EPS performance condition 
                                                          applies 
 Steven Cooklin            134,000               Financial year ending 31 
                                                        March 2023 
                  -------------------------  ------------------------------- 
  Mark Wrenford            134,000               Financial year ending 31 
     Tavener                                            March 2023 
                  -------------------------  ------------------------------- 
 

The awards will vest following assessment of the performance condition which is an EPS target relating to the financial year ended 31 March 2023. A minimum threshold achievement would result in 25% of the award vesting, a Target EPS would result in 75% vesting and a maximum EPS would result in 100% of the award vesting.

Notification and public disclosure of transactions by PDMRs and persons closely associated with them

 
 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      Options over ordinary shares 
       instrument, type of instrument    at an exercise price equal to 
                                         the nominal value of an Ordinary 
                                         Share per share. 
     --------------------------------  --------------------------------------- 
 b)   Identification code               ISIN: GB00BYWQCY12 
     --------------------------------  --------------------------------------- 
 c)   Nature of the transaction         Grant of options 
     --------------------------------  --------------------------------------- 
 d)   Price(s) and volume(s)             Price      Number of ordinary shares 
                                                      over which Options have 
                                                      been granted 
                                              N/A        134,000 
                                                    -------------------------- 
     --------------------------------  --------------------------------------- 
 e)        Aggregated information 
             *    Aggregate volume        134,000 
                                          N/A 
 
             *    Price 
     --------------------------------  --------------------------------------- 
 f)   Date of the transaction           30th September 2020 
     --------------------------------  --------------------------------------- 
 g)   Place of the transaction          Outside a trading venue 
     --------------------------------  --------------------------------------- 
 
 
 1.   Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                              Mark Wrenford 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      Options over ordinary shares 
       instrument, type of instrument    at an exercise price equal to 
                                         the nominal value of an Ordinary 
                                         Share per share. 
     --------------------------------  --------------------------------------- 
 b)   Identification code               ISIN: GB00BYWQCY12 
     --------------------------------  --------------------------------------- 
 c)   Nature of the transaction         Grant of options 
     --------------------------------  --------------------------------------- 
 d)   Price(s) and volume(s)             Price      Number of ordinary shares 
                                                      over which Options have 
                                                      been granted 
                                              N/A        134,000 
                                                    -------------------------- 
     --------------------------------  --------------------------------------- 
 e)        Aggregated information 
             *    Aggregate volume        134,000 
                                          N/A 
 
             *    Price 
     --------------------------------  --------------------------------------- 
 f)   Date of the transaction           30th September 2020 
     --------------------------------  --------------------------------------- 
 g)   Place of the transaction          Outside a trading venue 
     --------------------------------  --------------------------------------- 
 

For further information, please contact:

Manolete Partners Plc via Instinctif Partners

Peel Hunt (NOMAD and Joint Broker) [phone]

James Britton

Rishi Shah

Duncan Littlejohns

Liberum (Joint Broker) [phone]

Richard Crawley

James Greenwood

Instinctif Partners (Financial PR)

Tim Linacre [phone]

Lewis Hill [phone]

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October 01, 2020 02:00 ET (06:00 GMT)