Pennant International Group plc (LON:PEN), a leading global provider of training technology and integrated product support solutions, has announced a share issue to satisfy subscriptions under its employee Share Incentive Plan, and additional Director share purchases.
The Company has issued an aggregate of 68,954 new ordinary shares of 5p each to satisfy subscriptions under the SIP. The SIP Shares have been issued at 35p per share in accordance with the rules of the SIP, being the market price at the start of the subscription period.
As participants in the SIP, Philip Walker (Chief Executive Officer), David Clements (Commercial & Risk Director) and Michael Brinson (non-Board Director of Finance, a PDMR) have each subscribed for 5,142 SIP Shares.
Additionally, Pennant International has been informed that on 4 April 2022, Philip Walker and David Clements each purchased a further 7,090 ordinary shares in the market at a price of 35p per share.
Application for admission to trading on AIM of the 68,954 SIP Shares has been made and admission of the SIP Shares is expected to take place on or before 11 April 2022.
The SIP Shares will rank pari passu with the existing ordinary shares in issue. The SIP Shares will represent approximately 0.2% per cent. of the Company’s enlarged issued share capital on admission.