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ASA International Group plc announced that on 3 July 2023, it granted options over 125,088 ordinary shares to Karin Kersten, its Chief Executive Officer, under its Long-Term Incentive Plan. These options, exercisable at 84 pence per share, vest 60% on the third anniversary, 20% on the fourth, and 20% on the fifth anniversary of the grant date, subject to continued employment.
| Date | 4 Jul 2023 |
| Time | 08:45:02 |
| Category | Director/PDMR dealings |
| ID | 8979E |
Press release
ASA International Group plc reports grant of options under the ASA International Long-Term Incentive Plan (the 'LTIP') and PDMR Notification
London, United Kingdom / Amsterdam, The Netherlands, 4 July 2023 - ASA International Group plc ('ASA International' or the 'Company'), one of the world's largest international microfinance institutions, today announces that the Company, on 3 July 2023 (the 'Grant Date'), has granted options ('Options') over 125,088 ordinary shares of £0.01 each in the Company ('Shares') under its LTIP to Karin Kersten, the Chief Executive Officer of the Company in connection with her recent appointment on 15 June 2023. 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: 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 84 pence per ordinary share, being the average share price for the three business days before the Grant Date.
The following disclosures are made in accordance with Article 19 of the UK Market Abuse Regulation.
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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(a) |
Name |
Karin Kersten |
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2 |
Reason for the notification |
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(a) |
Position/status |
Chief Executive Officer |
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(b) |
Initial notification/Amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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(a) |
Name |
ASA International Group PLC |
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(b) |
LEI |
213800NSIUMXPDHUEO94 |
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4 |
Details of the transaction(s) |
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(a) |
Description of the financial instrument, type of instrument |
Ordinary shares of 1p each |
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Identification code |
GB00BDFXHW57 |
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(b) |
Nature of the transaction |
Grant of options with £0.84 exercise price under the ASA International Long-Term Incentive Plan |
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(c) |
Currency |
GBP |
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(d) |
Price(s) and volume(s) |
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(e) |
Aggregated information |
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(f) |
Date of the transaction |
2023-07-03 |
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(g) |
Place of the transaction |
Outside a trading venue |
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Enquiries:
ASA International Group plc
Investor Relations
Mischa Assink ir@asa-international.com
About ASA International Group plc
ASA International Group plc (ASAI: LN) is one of the world's largest international microfinance institutions, with a strong commitment to financial inclusion and socioeconomic progress. The company provides small, socially responsible loans to low-income, financially underserved entrepreneurs, predominantly women, across South Asia, South East Asia, West and East Africa.