ARGO Group Limited Argo Group Limited - Grant of Options (0642O)
October 05 2021 - 5:41AM
UK Regulatory
TIDMARGO
RNS Number : 0642O
ARGO Group Limited
05 October 2021
5(th) 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 5(th) 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.
1 Details of the persons discharging managerial responsibilities
/ persons closely associated
a) Names 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")
-------------------------- ----------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status All of the Board Members are PDMRs of
the Company
-------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Argo Group Limited
-------------------------- ----------------------------------------------
b) LEI 2138006AZQPG1K8GHO83
-------------------------- ----------------------------------------------
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 Options over Ordinary Shares of US$0.01
financial instrument, each
type of instrument
-------------------------- ----------------------------------------------
b) Identification code IM00B2RDSS92
-------------------------- ----------------------------------------------
c) Nature of the transaction Grant of Options
-------------------------- ----------------------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
In the case of MK:
Nil-cost
500,000 options over Ordinary Shares
In the case of AR:
Nil-cost
780,998 options over Ordinary Shares
In the case of KR:
Nil-cost
750,000 options over Ordinary Shares
In the case of DF:
Nil-cost
250,000 options over Ordinary Shares
In the case of KW:
Nil-cost
250,000 options over Ordinary Shares
-------------------------- ----------------------------------------------
d) Aggregated information
- Aggregated volume 1,530,998 options over Ordinary Shares
- Price Nil-cost
-------------------------- ----------------------------------------------
e) Date of the transaction 5 October 2021
-------------------------- ----------------------------------------------
f) 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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END
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