RNS Number : 8987Y
Pennant International Group PLC
02 August 2024
 

 

 

2 August 2024

PENNANT INTERNATIONAL GROUP PLC

("Pennant", the "Company" or the "Group")

 

 

Directors' Subscriptions

 

 

Pennant International Group plc (AIM:PEN), the systems support and training solutions company, is pleased to announce that pursuant to the Fundraising announced on 24 May 2024, the release of the Company's results on 21 June 2024 and the annual general meeting held on 17 July 2024, certain Directors and members of the senior management team of the Company have subscribed for 772,000 new Ordinary Shares ("Directors' Subscription Shares") at an issue price of 25p per share, being the same price as the Placing Shares and Subscription Shares issued in connection with the Fundraising.   Further details on the Directors' individual subscriptions are set out in the table below.

 

Director/PDMR

Title

Number of Director Subscription Shares subscribed for

Holding following Admission

Percentage of total voting rights held on Admission

Ian Dighé*

Non-Executive Chairman

360,000

360,000

0.83%

Phil  Walker

CEO

52,000

125,145

0.29%

David Clements

Commercial & Risk Director

40,000

124,508

0.29%

Deborah Wilkinson

Non-Executive Director

200,000

200,000

0.46%

Total

 

652,000

809,653

1.9%

 

* includes 80,000 Ordinary Shares to be issued to Mr Dighé's spouse.

 

Admission, settlement and dealings

 

Application has been made for admission of the Directors' Subscription Shares to trading on AIM, being the market of that name operated by the London Stock Exchange ("Admission").

 

It is expected that Admission will take place on or around 8.00 a.m. on 5 August 2024 and that dealings in the Directors' Subscription Shares on AIM will commence at the same time.

 

Following Admission, the Company will have 43,086,205 Ordinary Shares in issue. The new Ordinary Shares to be issued will, when issued, be fully paid and will rank pari passu in all respects with the Existing Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid after the date of issue.

 

Definitions

 

Capitalised terms used in this announcement have the meanings given to them in the announcement made on 23 May 2024 regarding the Fundraising.

 

Enquiries:

Pennant International Group plc

www.pennantplc.com


David Clements, Company Secretary

+44 (0) 1452 714 914





Zeus (Nomad)

 www.zeuscapital.co.uk

   


Mike Coe / Sarah Mather (Investment Banking)

+44 (0) 203 829 5000





Cavendish Capital Markets Limited (Broker)

www.cavendish.com


Ben Jeynes / Callum Davidson / George Lawson (Corporate Finance)

+44 (0) 207 220 0500  


Michael Johnson / Dale Bellis / Sunila de Silva (Sales and Corporate Broking) 






Walbrook PR (Financial PR)

pennant@walbrookpr.com


Tom Cooper

Joe Walker

+44 (0)20 7933 8780

Mob: +44 (0)7971 221 972


 

Notes to editors:

Pennant International Group plc (AIM: PEN) is a technology driven, leading global provider of system support services, technical services, and training solutions. It supports its global customer base in the design, development, operation, maintenance, and training of complex assets, to maximise operational and maintenance efficiency.

 Its key markets include Aerospace, Defence and Rail, and adjacent safety-critical markets such as Shipping, Nuclear and Space.

 The Group addresses the market through three key business lines:

•     Systems support: software tools designed to help clients: manage and use complex data; ensure equipment availability at optimal cost; and comply with industry standards.  Its Integrated Product Support (IPS) and Integrated Logistics Support (ILS) software and services equips customers with powerful market-leading toolsets to manage, model and utilise complex equipment data.

•     Training solutions: provide hardware, software and virtual solutions, critical skills training for maintainers and operators of aircraft, ships and land systems.

•     Technical services: support all Pennant's software and training solutions including consultancy, support and maintenance, training and bespoke development.

The Company's full product suite encompasses consultancy, technical documentation, rail services, training services, and bespoke engineering solutions.

Pennant is strategically focused on sustainable recurring revenue and profitability growth, shifting its model towards high margin software and services. Against a climate of rising defence budgets and the burgeoning technological complexity of military, aviation and rail platforms, the demand for these solutions is expected to grow substantially.

Headquartered in Cheltenham, UK, the Group operates worldwide, with offices in Europe, North America and Indo-Pacific, serving markets with high barriers to entry often in regulated industries.

 1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

Ian Dighé

2

 

Reason for the notification

 

a)

 

Position/status

 

Non-Executive Chairman

b)

 

Initial notification /Amendment

Initial Notification

3

 

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

 

a)

 

Name

 

Pennant International Group plc

b)

 

LEI

 

2138005AIIUYSRP5O254

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

Ordinary Shares of 5p each



Identification code

GB0002570660



b)

 

Nature of the transaction

 

Subscription of Ordinary Shares  

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)


Award of shares


25p

280,000







d)

 

Aggregated information


Award of shares





- Aggregated volume


280,000





- Price


£70,000





e)

 

Date of the transaction

 

2 August 2024

f)

 

Place of the transaction

London Stock Exchange, AIM

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

Susan Dighé

2

 

Reason for the notification

 

a)

 

Position/status

 

Person Closely Associated  (spouse of Ian Dighé)

b)

 

Initial notification /Amendment

Initial Notification

3

 

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

 

a)

 

Name

 

Pennant International Group plc

b)

 

LEI

 

2138005AIIUYSRP5O254

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

Ordinary Shares of 5p each



Identification code

GB0002570660



b)

 

Nature of the transaction

Subscription of Ordinary Shares

 

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)


Award of shares


25p

80,000







d)

 

Aggregated information


Award of shares





- Aggregated volume


80,000





- Price


£20,000





e)

 

Date of the transaction

 

2 August 2024

f)

 

Place of the transaction

London Stock Exchange, AIM

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

Philip Walker

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

 

Pennant International Group plc

b)

 

LEI

 

2138005AIIUYSRP5O254

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

Ordinary Shares of 5p each



Identification code

GB0002570660



b)

 

Nature of the transaction 

Subscription of Ordinary Shares

 

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)


Award of shares


25p

52,000







d)

 

Aggregated information


Award of shares





- Aggregated volume


52,000





- Price


£13,000





e)

 

Date of the transaction

 

2 August 2024

f)

 

Place of the transaction

London Stock Exchange, AIM

 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

David Clements

2

 

Reason for the notification

 

a)

 

Position/status

 

Commercial & Risk Director

b)

 

Initial notification /Amendment

Initial Notification

3

 

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

 

a)

 

Name

 

Pennant International Group plc

b)

 

LEI

 

2138005AIIUYSRP5O254

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

Ordinary Shares of 5p each



Identification code

GB0002570660



b)

 

Nature of the transaction

Subscription of Ordinary Shares

 

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)


Award of shares


25p

40,000







d)

 

Aggregated information


Award of shares





- Aggregated volume


40,000





- Price


£10,000





e)

 

Date of the transaction

2 August 2024

f)

 

Place of the transaction

London Stock Exchange, AIM

 1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Deborah Wilkinson

2

 

Reason for the notification

 

a)

 

Position/status

 

Non-Executive Director

b)

 

Initial notification /Amendment

 

Initial Notification

3

 

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

 

a)

 

Name

 

Pennant International Group plc

b)

 

LEI

 

2138005AIIUYSRP5O254

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

Ordinary Shares of 5p each



Identification code

GB0002570660



b)

 

Nature of the transaction

Subscription of Ordinary Shares.

 

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)


Award of shares


25p

200,000







d)

 

Aggregated information


Award of shares





- Aggregated volume


200,000





- Price


£50,000





e)

 

Date of the transaction

 

2 August 2024

f)

 

Place of the transaction

London Stock Exchange, AIM

 

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