Cancellation of Long-Term Incentive Plan
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 |
| ||||||||||||
c)
| Price(s) and volume(s) |
|
|
|
| |||||||||
|
|
|
|
| ||||||||||
d)
| Aggregated information |
| ||||||||||||
|
| |||||||||||||
- Aggregated volume | N/A | |||||||||||||
| ||||||||||||||
- Price | ||||||||||||||
| ||||||||||||||
e)
| Date of the transaction | 8 October 2024 | ||||||||||||
f) | Place of the transaction | Off-market transaction |
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.