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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Network International Holdings Plc | LSE:NETW | London | Ordinary Share | GB00BH3VJ782 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.20 | 0.05% | 393.60 | 393.40 | 393.60 | 394.00 | 393.00 | 393.00 | 119,947 | 15:09:37 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Business Services, Nec | 490.13M | 65.69M | 0.1233 | 31.91 | 2.1B |
From Apr 2019 to Apr 2024
TIDMNETW
RNS Number : 4472Y
Network International Holdings PLC
09 September 2020
Network International Holdings Plc
ACQUISITION OF SHARES UNDER ACCELERATED VESTING OF A PORTION OF PRE-IPO CASH AWARDS
Network International Holdings plc (LSE: NETW) (the Company) has on 7(th) September 2020 (the Acquisition Date), accelerated the vesting of a portion of the final tranche of the pre-IPO cash awards for the Group CEO and the Group CFO on the condition that they acquire ordinary shares in the Company (the Shares). This is in line with the corresponding ordinary resolution which was voted in favour (99.78%) by shareholders at the Annual General Meeting. The wider leadership team was since then invited to participate in this programme on similar terms.
The number of shares acquired by each PDMR are summarised below:
Hot Features
Premium
Name Number of Shares Acquired
Simon Haslam 200,295
--------------------------
Rohit Malhotra 167,536
--------------------------
Samer Soliman 171,565
--------------------------
Andrew Key 79,348
--------------------------
The acquired Shares will be subject to a holding period and released on the same terms and conditions as the relevant portion of the pre-IPO cash awards for which vesting was accelerated.
Participants will be entitled to dividends equivalent by reference to dividend record dates between the Acquisition Date and the expiry of the holding period, but released to each PDMR at the end of the holding period.
Considering the recent acquisition of DPO Group and the terms of the non-pre-emptive equity placing, the Remuneration Committee (the Committee) determined that the share price at which equity was raised through an accelerated book building process at GBP4.10 (the ABB price), was a fair and appropriate price for the acquisition of the Shares for both shareholders and management. It shows commitment to investment in the equity of the Company on the same basis as third party investors and it supports the Committee's desire for management to make a material long-term equity investment in the businesses they manage. It should be noted that this is a change of approach in determining the number of Shares from previously disclosed in April 2020 (i.e. an average of up to 30 trading days preceding the Acquisition Date) as at that time the share price was considerably lower than the ABB price.
A copy of the FCA notification form in respect of the acquisition of shares by each PDMR, as required under the EU Market Abuse Regulation and in the prescribed format, is set out below.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014.
1 Details of PDMR
a. Name Simon Haslam
------------------------------ ---------------------------------
2 Reason for Notification
------------------------------ ---------------------------------
a. Position / Status Group Chief Executive Officer
------------------------------ ---------------------------------
b. Initial Notification Initial Notification
/ Amendment
------------------------------ ---------------------------------
3 Details of the Issuer
------------------------------ ---------------------------------
a. Name Network International Holdings
Plc
------------------------------ ---------------------------------
b. Legal Entity Identifier 213800VRNKWENNLKK60
------------------------------ ---------------------------------
4 Details of the Transaction(s)
------------------------------ ---------------------------------
a. Description of the Shares
Financial Instrument
------------------------------ ---------------------------------
b. Identification Code GB00BH3VJ782
------------------------------ ---------------------------------
c. Nature of the Transaction Acquisition of Shares in
line with ordinary resolution
20, as approved by shareholders
at the AGM.
------------------------------ ---------------------------------
d. Date & Place of Transaction 7 September 2020, London
Stock Exchange, Main Market
(XLON)
------------------------------ ---------------------------------
e. Price(s) and Volume(s) Price Volume
------------------------------ ---------------------------------
GBP 4.10 200,295 Ordinary
Shares
------------------------------ ---------------------------------
f. Additional information
------------------------------ ---------------------------------
- Aggregated volume N/A Single transaction
------------------------------ ---------------------------------
- Aggregated price N/A Single transaction
------------------------------ ---------------------------------
1 Details of PDMR
a. Name Rohit Malhotra
------------------------------ ---------------------------------
2 Reason for Notification
------------------------------ ---------------------------------
a. Position / Status Group Chief Financial Officer
------------------------------ ---------------------------------
b. Initial Notification Initial Notification
/ Amendment
------------------------------ ---------------------------------
3 Details of the Issuer
------------------------------ ---------------------------------
a. Name Network International Holdings
Plc
------------------------------ ---------------------------------
b. Legal Entity Identifier 213800VRNKWENNLKK60
------------------------------ ---------------------------------
4 Details of the Transaction(s)
------------------------------ ---------------------------------
a. Description of the Shares
Financial Instrument
------------------------------ ---------------------------------
b. Identification Code GB00BH3VJ782
------------------------------ ---------------------------------
c. Nature of the Transaction Acquisition of Shares in
line with ordinary resolution
20, as approved by shareholders
at the AGM.
------------------------------ ---------------------------------
d. Date & Place of Transaction 7 September 2020, London
Stock Exchange, Main Market
(XLON)
------------------------------ ---------------------------------
e. Price(s) and Volume(s) Price Volume
------------------------------ ---------------------------------
GBP 4.10 167,536 Ordinary
Shares
------------------------------ ---------------------------------
f. Additional information
------------------------------ ---------------------------------
- Aggregated volume N/A Single transaction
------------------------------ ---------------------------------
- Aggregated price N/A Single transaction
------------------------------ ---------------------------------
1 Details of PDMR
a. Name Samer Soliman
------------------------------ ---------------------------------
2 Reason for Notification
------------------------------ ---------------------------------
a. Position / Status Managing Director - Middle
East
------------------------------ ---------------------------------
b. Initial Notification Initial Notification
/ Amendment
------------------------------ ---------------------------------
3 Details of the Issuer
------------------------------ ---------------------------------
a. Name Network International Holdings
Plc
------------------------------ ---------------------------------
b. Legal Entity Identifier 213800VRNKWENNLKK60
------------------------------ ---------------------------------
4 Details of the Transaction(s)
------------------------------ ---------------------------------
a. Description of the Shares
Financial Instrument
------------------------------ ---------------------------------
b. Identification Code GB00BH3VJ782
------------------------------ ---------------------------------
c. Nature of the Transaction Acquisition of Shares under
the accelerated vesting of
a portion of their pre-IPO
awards.
------------------------------ ---------------------------------
d. Date & Place of Transaction 7 September 2020, London
Stock Exchange, Main Market
(XLON)
------------------------------ ---------------------------------
e. Price(s) and Volume(s) Price Volume
------------------------------ ---------------------------------
GBP 4.10 171,565 Ordinary
Shares
------------------------------ ---------------------------------
f. Additional information
------------------------------ ---------------------------------
- Aggregated volume N/A Single transaction
------------------------------ ---------------------------------
- Aggregated price N/A Single transaction
------------------------------ ---------------------------------
1 Details of PDMR
a. Name Andrew Key
------------------------------ -------------------------------
2 Reason for Notification
------------------------------ -------------------------------
a. Position / Status Managing Director - Africa
------------------------------ -------------------------------
b. Initial Notification Initial Notification
/ Amendment
------------------------------ -------------------------------
3 Details of the Issuer
------------------------------ -------------------------------
a. Name Network International Holdings
Plc
------------------------------ -------------------------------
b. Legal Entity Identifier 213800VRNKWENNLKK60
------------------------------ -------------------------------
4 Details of the Transaction(s)
------------------------------ -------------------------------
a. Description of the Shares
Financial Instrument
------------------------------ -------------------------------
b. Identification Code GB00BH3VJ782
------------------------------ -------------------------------
c. Nature of the Transaction Acquisition of Shares under
the accelerated vesting of
a portion of their pre-IPO
awards.
------------------------------ -------------------------------
d. Date & Place of Transaction 7 September 2020, London
Stock Exchange, Main Market
(XLON)
------------------------------ -------------------------------
e. Price(s) and Volume(s) Price Volume
------------------------------ -------------------------------
GBP 4.10 79,348 Ordinary
Shares
------------------------------ -------------------------------
f. Additional information
------------------------------ -------------------------------
- Aggregated volume N/A Single transaction
------------------------------ -------------------------------
- Aggregated price N/A Single transaction
------------------------------ -------------------------------
Enquiries
Network International InvestorRelations@Network.Global Amie Gramlick: Head of Investor Relations Finsbury network-lon@finsbury.com James Leviton, Rob Allen: Media Relations
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END
DSHGUGDCLBGDGGC
(END) Dow Jones Newswires
September 09, 2020 02:00 ET (06:00 GMT)
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