AGFX.L

Argentex Group
Argentex Group PLC - Cancellation of Long-Term Incentive Plan
9th October 2024, 15:00
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 5558H
Argentex Group PLC
09 October 2024
 

9 October 2024

Argentex Group PLC


 ("Argentex" or the "Company")

Cancellation of Long-Term Incentive Plan

Argentex Group PLC (AIM: AGFX), the global expert in currency risk management and alternative banking, today announces that it has lapsed all awards under the Argentex Group Value Creation Plan (the "VCP") and cancelled the VCP.  The cancellation affects, amongst others, certain persons discharging managerial responsibilities (PDMRs) and employees.

The Company believes that the VCP no longer aligns the interests of employees and shareholders and the Remuneration Committee will look to put in place a more appropriate long term incentive scheme moving forward.  Argentex will inform the market of the new scheme at the relevant time.

For further information, please contact:

Argentex Group PLC
 Jim Ormonde - Chief Executive Officer
Guy Rudolph - Chief Financial Officer
investorrelations@argentex.com

Teneo (Financial PR)
 James Macey-White/Victoria Boxall/Rashida Salemahomed
argentex@teneo.com, 020 7260 2700

Singer Capital Markets (Nominated Adviser and Broker)
 Tom Salvesen / James Maxwell / Asha Chotai
020 7496 3000

1

Details of the person discharging managerial responsibilities / person closely associated

a)

 

Name

 

David Winney

2

Reason for the notification

a)

 

Position/status

Chief Compliance and Risk Officer

b)

 

Initial notification /Amendment

Initial

3

 

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

a)

 

Name

 

 

Argentex Group plc

b)

 

LEI

 

 

2549007V7B928Q178194

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

Growth A shares and growth B shares, each in the capital of Argentex Capital Limited (a wholly owned subsidiary of the Company) under the VCP. 

 


Identification code

-

 

 

b)

 

Nature of the transaction


Disposal of 400 Growth A Shares and 400 Growth B Shares to the Company at £85.00 per share.

 

c)

 

Price(s) and volume(s)

 

Transaction

Price(s)

Volume(s)

Transfer of growth A shares in the capital of Argentex Capital Limited to the Company

£85.00 per share

400

Transfer of growth B shares in the capital of Argentex Capital Limited to the Company

£85.00 per share

400

 

 

 

 

 

 

 

d)

 

Aggregated information

 

 

 

- Aggregated volume

N/A

 


- Price


 


e)

 

Date of the transaction

8 October 2024

f)

Place of the transaction

Off-market transaction

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHUPGRCUUPCUBB]]>
TwitterFacebookLinkedIn