Company Announcements

Grant of options

Source: RNS
RNS Number : 5565E
ASA International Group PLC
31 October 2022
 

ASA International Group plc

Grant of options under the ASA International Long-Term Incentive Plan (the 'LTIP')

ASA International Group plc (the 'Company'), one of the world's largest international microfinance institutions, announces that on 28 October 2022 (the 'Grant Date') it has granted options ('Options') over about 2,500,000 ordinary shares of £0.01 each in the Company ('Shares') under its LTIP to certain Executive Directors and Persons Discharging Managerial Responsibilities ('PDMRs'). The Company's LTIP is designed to incentivise and retain directors and senior staff, along with aligning them with shareholders' interest to create long term value.   

The Options will normally vest, subject to continued employment, on the following schedule:

·           20% each year between the first and fifth anniversaries of the Grant Date; or

·           for Executive Directors only, 60% on the third anniversary and 20% on each of the fourth and fifth anniversaries of the Grant Date.

To the extent they vest, the Options are exercisable at a price of 93 pence per ordinary share, being the average share price for the three business days before the Grant Date.

As disclosed previously (including at the time of the Company's listing), certain (direct and indirect) shareholders in the Company are taken to constitute a "concert party" for the purposes of the Takeover Code. Those shareholders include Dirk Brouwer and the entities through which he indirectly holds his interests in the Company, including Catalyst Microfinance Investors ('CMI') and Catalyst Continuity Limited ('Catalyst Continuity'). CMI and Catalyst Continuity are ultimately controlled by Dirk Brouwer through CMIMC, a holding company of the founders of CMI.

A consequence of the current aggregate shareholding of the Concert Party being 47,303,463 Shares is that any increase in that aggregate shareholding (which could result from, among other things, any exercise of the Options granted to Dirk Brouwer), may result in a requirement under Rule 9 of the Takeover Code for the Concert Party to make a mandatory offer for the remainder of the share capital of the Company not already held by it. Therefore, it is envisaged that (save in circumstances where it is determined that such an offer is intended and desirable) the independent directors, being all of the directors of the Company who are not members of the Concert Party, will, prior to any exercise of options by any member of the Concert Party, seek a waiver from the Takeover Panel in respect of any requirement of the Concert Party to make such a mandatory offer under Rule 9 of the Takeover Code. It is expected that any such waiver from the Takeover Panel, if granted, would remain subject to a vote of the independent shareholders of the Company to approve its terms.

The following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014 as it forms part of UK law.

Notification of Transactions of PDMRs

 

1      

Details of the person discharging managerial responsibilities / person closely associated

(a)    

Name

Dirk Brouwer

2      

Reason for the notification

(a)    

Position/status

Chief Executive Officer

(b)    

Initial notification/Amendment

Initial notification

3      

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

(a)    

Name

ASA International Group PLC

(b)    

LEI

213800NSIUMXPDHUEO94

4      

Details of the transaction(s)

(a)    

Description of the financial instrument, type of instrument

Ordinary shares of 1p each


Identification code

GB00BDFXHW57

(b)    

Nature of the transaction

Grant of options with £0.93 exercise price under the ASA International Long-Term Incentive Plan

(c)    

Currency

GBP

(d)    

Price(s) and volume(s)

Price

Volume

Total

Nil

282,341

 N/A

(e)    

Aggregated information

Price

Volume

Total

Nil

282,341

N/A

(f)     

Date of the transaction

2022-10-28

(g)    

Place of the transaction

Outside a trading venue

 

1      

Details of the person discharging managerial responsibilities / person closely associated

(a)     

Name

Karin Kersten

2      

Reason for the notification

(a)     

Position/status

Corporate Development Director

(b)    

Initial notification/Amendment

Initial notification

3      

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

(a)     

Name

ASA International Group PLC

(b)    

LEI

213800NSIUMXPDHUEO94

4      

Details of the transaction(s)

(a)     

Description of the financial instrument, type of instrument

Ordinary shares of 1p each


Identification code

GB00BDFXHW57

(b)    

Nature of the transaction

Grant of options with £0.93 exercise price under the ASA International Long-Term Incentive Plan

(c)     

Currency

GBP

(d)    

Price(s) and volume(s)

Price

Volume

Total

Nil

157,253

N/A

(e)     

Aggregated information

Price

Volume

Total

Nil

157,253

N/A

(f)     

Date of the transaction

2022-10-28

(g)    

Place of the transaction

Outside a trading venue

 

1      

Details of the person discharging managerial responsibilities / person closely associated

(a)     

Name

Martijn Bollen

2      

Reason for the notification

(a)     

Position/status

General Counsel

(b)    

Initial notification/Amendment

Initial notification

3      

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

(a)     

Name

ASA International Group PLC

(b)    

LEI

213800NSIUMXPDHUEO94

4      

Details of the transaction(s)

(a)     

Description of the financial instrument, type of instrument

Options over ordinary shares of 1p each


Identification code

GB00BDFXHW57

(b)    

Nature of the transaction

Grant of options with £0.93exercise price under the ASA International Long-Term Incentive Plan

(c)     

Currency

GBP

(d)    

Price(s) and volume(s)

Price

Volume

Total

Nil

114,113

N/A

(e)     

Aggregated information

Price

Volume

Total

Nil

114,113

N/A

(f)     

Date of the transaction

2022-10-28

(g)    

Place of the transaction

Outside a trading venue

 

 

1      

Details of the person discharging managerial responsibilities / person closely associated

(a)     

Name

Rob Keijsers

2      

Reason for the notification

(a)     

Position/status

Chief Innovation Officer

(b)    

Initial notification/Amendment

Initial notification

3      

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

(a)     

Name

ASA International Group PLC

(b)    

LEI

213800NSIUMXPDHUEO94

4      

Details of the transaction(s)

(a)     

Description of the financial instrument, type of instrument

Options over ordinary shares of 1p each


Identification code

GB00BDFXHW57

(b)    

Nature of the transaction

Grant of options with £0.93 exercise price under the ASA International Long-Term Incentive Plan

(c)     

Currency

GBP

(d)    

Price(s) and volume(s)

Price

Volume

Total

Nil

114,113

N/A

(e)     

Aggregated information

Price

Volume

Total

Nil

114,113

N/A

(f)     

Date of the transaction

2022-10-28

(g)    

Place of the transaction

Outside a trading venue

 

1      

Details of the person discharging managerial responsibilities / person closely associated

(a)     

Name

Aminur Rashid

2      

Reason for the notification

(a)     

Position/status

Executive Director - Operations

(b)    

Initial notification/Amendment

Initial notification

3      

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

(a)     

Name

ASA International Group PLC

(b)    

LEI

213800NSIUMXPDHUEO94

4      

Details of the transaction(s)

(a)     

Description of the financial instrument, type of instrument

Ordinary shares of 1p each


Identification code

GB00BDFXHW57

(b)    

Nature of the transaction

Grant of options with £0.93 exercise price under the ASA International Long-Term Incentive Plan

(c)     

Currency

GBP

(d)    

Price(s) and volume(s)

Price

Volume

Total

Nil

119,777

N/A

(e)     

Aggregated information

Price

Volume

Total

Nil

119,777

N/A

(f)     

Date of the transaction

2022-10-28

(g)    

Place of the transaction

Outside a trading venue

 

1      

Details of the person discharging managerial responsibilities / person closely associated

(a)     

Name

Md. Enamul Haque

2      

Reason for the notification

(a)     

Position/status

Chief Operating Officer

(b)    

Initial notification/Amendment

Initial notification

3      

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

(a)     

Name

ASA International Group PLC

(b)    

LEI

213800NSIUMXPDHUEO94

4      

Details of the transaction(s)

(a)     

Description of the financial instrument, type of instrument

Options over ordinary shares of 1p each


Identification code

GB00BDFXHW57

(b)    

Nature of the transaction

Grant of options with £0.93 exercise price under the ASA International Long-Term Incentive Plan

(c)     

Currency

GBP

(d)    

Price(s) and volume(s)

Price

Volume

Total

Nil

101,692

N/A

(e)     

Aggregated information

Price

Volume

Total

Nil

101,692

N/A

(f)     

Date of the transaction

2022-10-28

(g)    

Place of the transaction

Outside a trading venue

 

1      

Details of the person discharging managerial responsibilities / person closely associated

(a)     

Name

Mohammed Azim Hossain

2      

Reason for the notification

(a)     

Position/status

Senior Vice President - Treasury, Investment and Risk Management

(b)    

Initial notification/Amendment

Initial notification

3      

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

(a)     

Name

ASA International Group PLC

(b)    

LEI

213800NSIUMXPDHUEO94

4      

Details of the transaction(s)

(a)     

Description of the financial instrument, type of instrument

Options over ordinary shares of 1p each


Identification code

GB00BDFXHW57

(b)    

Nature of the transaction

Grant of options with £0.93 exercise price under the ASA International Long-Term Incentive Plan

(c)     

Currency

GBP

(d)    

Price(s) and volume(s)

Price

Volume

Total

Nil

78,319

N/A

(e)     

Aggregated information

Price

Volume

Total

Nil

78,319

N/A

(f)     

Date of the transaction

2022-10-28

(g)    

Place of the transaction

Outside a trading venue

 

1      

Details of the person discharging managerial responsibilities / person closely associated

(a)     

Name

Tanwir Habib Rahman

2      

Reason for the notification

(a)     

Position/status

Chief Financial Officer

(b)    

Initial notification/Amendment

Initial notification

3      

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

(a)     

Name

ASA International Group PLC

(b)    

LEI

213800NSIUMXPDHUEO94

4      

Details of the transaction(s)

(a)     

Description of the financial instrument, type of instrument

Options over ordinary shares of 1p each


Identification code

GB00BDFXHW57

(b)    

Nature of the transaction

Grant of options with £0.93 exercise price under the ASA International Long-Term Incentive Plan

(c)     

Currency

GBP

(d)    

Price(s) and volume(s)

Price

Volume

Total

Nil

73,371

N/A

(e)     

Aggregated information

Price

Volume

Total

Nil

73,371

N/A

(f)     

Date of the transaction

2022-10-28

(g)    

Place of the transaction

Outside a trading venue

 

1      

Details of the person discharging managerial responsibilities / person closely associated

(a)     

Name

Md. Asifur Rahman

2      

Reason for the notification

(a)     

Position/status

Chief Technical Officer

(b)    

Initial notification/Amendment

Initial notification

3      

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

(a)     

Name

ASA International Group PLC

(b)    

LEI

213800NSIUMXPDHUEO94

4      

Details of the transaction(s)

(a)     

Description of the financial instrument, type of instrument

Options over ordinary shares of 1p each


Identification code

GB00BDFXHW57

(b)    

Nature of the transaction

Grant of options with £0.93exercise price under the ASA International Long-Term Incentive Plan

(c)     

Currency

GBP

(d)    

Price(s) and volume(s)

Price

Volume

Total

Nil

59,843

N/A

(e)     

Aggregated information

Price

Volume

Total

Nil

59,843

N/A

(f)     

Date of the transaction

2022-10-28

(g)    

Place of the transaction

Outside a trading venue

 

 

1      

Details of the person discharging managerial responsibilities / person closely associated

(h)    

Name

Mischa Assink

2      

Reason for the notification

(i)     

Position/status

Chief Accountant

(j)     

Initial notification/Amendment

Initial notification

3      

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

(k)    

Name

ASA International Group PLC

(l)     

LEI

213800NSIUMXPDHUEO94

4      

Details of the transaction(s)

(m)   

Description of the financial instrument, type of instrument

Ordinary shares of 1p each


Identification code

GB00BDFXHW57

(n)    

Nature of the transaction

Grant of options with £0.93 exercise price under the ASA International Long-Term Incentive Plan

(o)    

Currency

GBP

(p)    

Price(s) and volume(s)

Price

Volume

Total

Nil

105,427

N/A

(q)    

Aggregated information

Price

Volume

Total

Nil

105,427

N/A

(r)     

Date of the transaction

2022-10-28

(s)    

Place of the transaction

Outside a trading venue

 

 

 

Name of officer of issuer responsible for making notification: Martijn Bollen

Date of notification: By 2 November 2022

 

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