18 August 2021

Marlowe plc

Director/PDMR Shareholding, Issue of Equity and Grant of Options

Marlowe plc ("Marlowe" or the "Company") notifies that, on 17 August 2021, Alex Dacre, Chief Executive of the Group, acquired 3,100 Ordinary Shares of 50 pence each in the capital of the Company ("Ordinary Shares") at a price of 807.2 pence per share.

Marlowe also announces that it has issued a total of 3,050 new ordinary shares of 50 pence each in the Company (the "New Ordinary Shares") to Alex Dacre at an effective issue price of 782.0 pence per New Ordinary Share, in respect of a performance bonus for the financial year ended 31 March 2021.

Application will be made to the London Stock Exchange plc for the New Ordinary Shares, which will rank pari passu with the Company's existing ordinary shares, to be admitted to trading on AIM and admission is expected to occur at 8.00 a.m. on 23 August 2021.

Following admission of the New Ordinary Shares, the Company's issued ordinary share capital will comprise 77,126,822 ordinary shares, none of which are held in treasury. Therefore, the total number of ordinary shares with voting rights in Marlowe following admission will be 77,126,822.

The above figure of 77,126,822 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

Following the above, Mr Dacre holds a beneficial interest in 4,660,502 Ordinary Shares, representing approximately 6.04 per cent. of the Company's issued share capital.

The Company further notifies that it has today granted share options over a total of 44,321 ordinary shares of 50 pence each in Marlowe (the "New Share Options").

The New Share Options have been awarded to Alex Dacre, Chief Executive, pursuant to the Group's Long Term Incentive Plan (the "Plan"), to drive and reward the achievement of the Group's longer-term objectives and to support retention, and represent the final award under the Plan established in June 2019. The New Share Options will vest, in whole or in part, on 1 April 2024 (or upon a change of control) subject to the following performance conditions having been met over the preceding three-year period:

Unless special circumstances apply, the New Share Options will normally lapse immediately on cessation of employment. Upon vesting, the New Share Options will be exercisable at a price of 50 pence per ordinary at any time prior to expiry on 31 March 2031.

The notifications below, made in accordance with the Market Abuse Regulation, provide further details.
 

For further information:

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM