Directors’ Subscriptions

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.

* 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:

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.