Cancellation of LTIP Options
Source: RNS
26 May 2022
RA INTERNATIONAL GROUP PLC
("RA International" or the "Company")
Cancellation of LTIP Options
RA International Group PLC (AIM: RAI), a specialist provider of complex and integrated remote site services to Humanitarian, Governmental and Commercial organisations globally, announces that it has agreed to cancel grants announced on 12 May 2021 under its Long Term Incentive Plan ("LTIP"). The cancellation affects certain Directors, PDMRs and employees.
The following table sets out the number of options previously granted to the following executive directors and other persons discharging managerial responsibilities ("PDMR") that have been cancelled:
|
Name of Director / PDMR |
Options Cancelled |
|
|
Soraya Narfeldt |
602,040 |
|
|
Lars Narfeldt |
408,163 |
|
|
Andrew Bolter |
469,387 |
|
|
Trevor Stratford |
401,632 |
|
|
William Warnock |
370,285 |
|
The Company believes the grants made under the LTIP no longer align the interests of employees and shareholders and the Remuneration Committee will look to put in place a more appropriate incentive scheme moving forward. The Company will inform the market of the new scheme at the relevant time.
Enquiries:
|
RA International Group PLC Soraya Narfeldt, Chief Executive Officer Lars Narfeldt, Chief Operating Officer Andrew Bolter, Chief Financial Officer
|
Via Bamburgh Capital |
|
Canaccord Genuity Limited (Nominated Adviser and Broker) Bobbie Hilliam Alex Aylen
|
+44 (0)207 523 8000 |
|
Bamburgh Capital Limited (Financial PR & Investor Relations) Murdo Montgomery |
+44 (0)191 249 7442 |
|
1. |
Details of PDMR / person closely associated with them ('PCA') |
||
|
a) |
Name |
Soraya Narfeldt |
|
|
b) |
Position / status |
Chief Executive Officer / PDMR |
|
|
c) |
Initial notification /amendment |
Initial notification |
|
|
2. |
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 |
Ordinary shares of 10 pence each in the Company |
|
|
b) |
Nature of the transaction |
Cancellation of awards over ordinary shares under the Company's LTIP |
|
|
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
|
- |
602,040 |
||
|
d) |
Aggregated information Aggregated volume Price |
N/A |
|
|
e) |
Date of the transaction |
26 May 2022 |
|
|
f) |
Place of the transaction |
London Stock Exchange, AIM |
|
|
1. |
Details of PDMR / person closely associated with them ('PCA') |
||
|
a) |
Name |
Lars Narfeldt |
|
|
b) |
Position / status |
Chief Operating Officer / PDMR |
|
|
c) |
Initial notification /amendment |
Initial notification |
|
|
2. |
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 |
Ordinary shares of 10 pence each in the Company |
|
|
b) |
Nature of the transaction |
Cancellation of awards over ordinary shares under the Company's LTIP |
|
|
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
|
- |
408,163 |
||
|
d) |
Aggregated information Aggregated volume Price |
N/A |
|
|
e) |
Date of the transaction |
26 May 2022 |
|
|
f) |
Place of the transaction |
London Stock Exchange, AIM |
|
|
1. |
Details of PDMR / person closely associated with them ('PCA') |
||
|
a) |
Name |
Andrew Bolter |
|
|
b) |
Position / status |
Chief Financial Officer / PDMR |
|
|
c) |
Initial notification /amendment |
Initial notification |
|
|
2. |
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 |
Ordinary shares of 10 pence each in the Company |
|
|
b) |
Nature of the transaction |
Cancellation of awards over ordinary shares under the Company's LTIP |
|
|
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
|
- |
469,387 |
||
|
d) |
Aggregated information Aggregated volume Price |
N/A |
|
|
e) |
Date of the transaction |
26 May 2022 |
|
|
f) |
Place of the transaction |
London Stock Exchange, AIM |
|
|
1. |
Details of PDMR / person closely associated with them ('PCA') |
||
|
a) |
Name |
Trevor Stratford |
|
|
b) |
Position / status |
Business Development Director and PDMR |
|
|
c) |
Initial notification /amendment |
Initial notification |
|
|
2. |
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 |
Ordinary shares of 10 pence each in the Company |
|
|
b) |
Nature of the transaction |
Cancellation of awards over ordinary shares under the Company's LTIP |
|
|
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
|
- |
401,632 |
||
|
d) |
Aggregated information Aggregated volume Price |
N/A |
|
|
e) |
Date of the transaction |
26 May 2022 |
|
|
f) |
Place of the transaction |
London Stock Exchange, AIM |
|
|
1. |
Details of PDMR / person closely associated with them ('PCA') |
||
|
a) |
Name |
William Warnock |
|
|
b) |
Position / status |
Director of US Business Development and PDMR |
|
|
c) |
Initial notification /amendment |
Initial notification |
|
|
2. |
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 |
Ordinary shares of 10 pence each in the Company |
|
|
b) |
Nature of the transaction |
Cancellation of awards over ordinary shares under the Company's LTIP |
|
|
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
|
- |
370,285 |
||
|
d) |
Aggregated information Aggregated volume Price |
N/A |
|
|
e) |
Date of the transaction |
26 May 2022 |
|
|
f) |
Place of the transaction |
London Stock Exchange, AIM |
|
About RA International
RA International is a leading provider of services to remote locations. The Company offers its services through three channels: construction, integrated facilities management and supply chain, and services three main client groups: humanitarian and aid agencies, governments and commercial customers, predominantly in the oil and gas and mining sectors. It has a strong customer base, largely comprising UN agencies, western governments and global corporations.
The Company provides comprehensive, flexible, mission critical support to its clients enabling them to focus on the delivery of their respective businesses and services. Focusing on integrity and values alongside making on-going investment in its people, locations and operations has over time created a reliable and trusted brand within its sector.
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