Directors’ Subscriptions

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)	[email protected]
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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

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.

END

DSHQKDBKBBKBFFK