Company Announcements

Argo Group Limited - Grant of Options

Source: RNS
RNS Number : 0642O
ARGO Group Limited
05 October 2021

5th October 2021





Argo Group Limited ("AGL" or "the Company")


Grant of Options


Argo Group Limited, the independent alternative investment manager offering a multi-strategy platform for investing in global emerging markets, announces that it has granted as of 5th October 2021 new options ("New Options") over 3,645,998 ordinary shares of US$0.01 ("Ordinary Shares") of AGL to employees and directors under a new AGL Employment Stock Option Plan (the "New Plan"). These options replace similar options granted under the first Argo Group Limited Employment Stock Option Plan (adopted in 2008) (the "Original Plan").


The grants to directors are as follows:

Director                                                            Number of New Options


Michael Kloter                                                    500,000

(Chairman / Non-Executive)

Andreas Rialas                                                   780,998

(Executive Director)

Kyriakos Rialas                                                   750,000

(Executive Director)

David Fisher                                                        250,000

(Non-Executive Director)

Kenneth Watterson                                             250,000

(Non-Executive Director)


All New Options are exercisable at 21p per Ordinary Share subject to continued employment or being a director of the Company and all vest immediately.

There remain unexpired options over 250,000 Ordinary Shares held by employees under the Original Plan. In total, there are 3,895,998 options over Ordinary Shares to employees and directors under the Original Plan and the New Plan.

The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation is appended below.



Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.





Details of the persons discharging managerial responsibilities / persons closely associated 




Michael Kloter (MK), Chairman / Non-Executive Director

Andreas Rialas, Executive Director (AR)

Kyriakos Rialas, Executive Director (KR)

David Fisher, Non-Executive Director (DF)

Kenneth Watterson, Non-Executive (KW)

(Collectively, the "Board Members")




Reason for the notification





All of the Board Members are PDMRs of the Company



Initial notification /Amendment


Initial Notification



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





Argo Group Limited







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



Description of the financial instrument, type of instrument


Options over Ordinary Shares of US$0.01 each


Identification code 




Nature of the transaction 


 Grant of Options



Price(s) and volume(s)

Price(s) Volume(s)

In the case of MK:


500,000 options over Ordinary Shares

In the case of AR:


780,998 options over Ordinary Shares

In the case of KR:


750,000 options over Ordinary Shares

In the case of DF:


250,000 options over Ordinary Shares

In the case of KW:


250,000 options over Ordinary Shares




Aggregated information 

- Aggregated volume

- Price


1,530,998 options over Ordinary Shares




Date of the transaction 

5 October 2021



Place of the transaction

London Stock Exchange




For further information, please contact: 


Argo Group Limited

Andreas Rialas

020 7016 7660



Panmure Gordon

Dominic Morley

020 7886 2500



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