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.
| 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 /Amendment
| Initial Notification |
| 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 financial instrument, type of instrument
| Options over Ordinary Shares of US$0.01 each |
| 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 - Price |
1,530,998 options over Ordinary Shares 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
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.