Grant of Options
On October 27, 2025, ASA International Group PLC granted options over 277,676 ordinary shares of £0.01 each to Executive Directors and Persons Discharging Managerial Responsibilities under its Long-Term Incentive Plan. The options vest based on the growth in book value per share between June 30, 2025, and June 30, 2028, with vesting percentages tied to growth targets: below 33.1% total growth results in 0% vesting, 33.1% growth yields 25% vesting, 52.09% growth yields 50% vesting, and 72.8% or higher growth results in 100% vesting. Vested options are exercisable at £1.79 per share, with 60% vesting on October 27, 2028, and the remaining 40% vesting in two equal installments on October 27, 2029, and October 27, 2030.
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ASA International Group plc (LSE: ASAI), one of the world's largest international microfinance institutions, announces that on 27 October 2025 it has granted options over 277,676 ordinary shares of £0.01 each under its Long-Term Incentive Plan to Executive Directors and Persons Discharging Managerial Responsibilities. The Long-Term Incentive Plan aims to motivate and retain directors and senior management, while also aligning their interests with those of shareholders to foster long-term value creation.
Vesting of these options will be subject to meeting targets related to the growth in book value of the Company (defined in the financial statements as "Total Equity Attributable to Equity Holders of the Parent") between 30 June 2025 and 30 June 2028 on a per share basis. The Threshold, Target and Stretch targets have been formulated as a sliding scale:
| 3-year growth in book value per share | Maximum % of options vesting | |
|---|---|---|
| <10% CAGR (i.e. <33.1% total growth) | 0 | |
| Threshold | 10% CAGR (i.e. 33.1% total growth) | 25 |
| Target | 15% CAGR (i.e. 52.09% total growth) | 50 |
| Stretch | ≥20% CAGR (i.e. 72.8% total growth) | 100 |
Note: Total growth refers to actual growth over the three year period.
The Directors shall retain discretion regarding the precise methodology for measurement of the growth in book value per share; for example, taking into account the impact of foreign exchange rates or one-off accounting items.
The options will normally vest, subject to continued employment and meeting the above targets, on the following schedule:
§ 27 October 2028 - 60% of options
§ 27 October 2029 - 20% of options
§ 27 October 2030 - 20% of options
To the extent they vest, the options are exercisable at a price of £1.79 per ordinary share, being the average share price for the three business days before the grant date.
Notification of Transactions of Persons Discharging Managerial Responsibilities
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| (a) | Name | Rob Keijsers |
| 2 | Reason for the notification | |
| (a) | Position/status | Chief Executive Officer / PDMR |
| (b) | Initial notification/Amendment | Initial notification |
| (a) | Name | ASA International Group plc |
| (b) | LEI | 213800NSIUMXPDHUEO94 |
| 4 | Details of the transaction(s) | |
| (a) | Description of the financial instrument, type of instrument | Ordinary shares of 1p each |
| Identification code | GB00BDFXHW57 | |
| (b) | Nature of the transaction | Grant of options with £1.79 exercise price under the ASA International Long-Term Incentive Plan |
| (c) | Currency | GBP |
| (d) | Price(s) and volume(s) | Price Volume Total Nil 122,672 N/A |
| (e) | Aggregated information | Price Volume Total Nil 122,672 N/A |
| (f) | Date of the transaction | 2025-10-27 |
| (g) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| (a) | Name | Martijn Bollen |
| 2 | Reason for the notification | |
| (a) | Position/status | Chief Legal Officer / PDMR |
| (b) | Initial notification/Amendment | Initial notification |
| (a) | Name | ASA International Group plc |
| (b) | LEI | 213800NSIUMXPDHUEO94 |
| 4 | Details of the transaction(s) | |
| (a) | Description of the financial instrument, type of instrument | Ordinary shares of 1p each |
| Identification code | GB00BDFXHW57 | |
| (b) | Nature of the transaction | Grant of options with £1.79 exercise price under the ASA International Long-Term Incentive Plan |
| (c) | Currency | GBP |
| (d) | Price(s) and volume(s) | Price Volume Total Nil 37,389 N/A |
| (e) | Aggregated information | Price Volume Total Nil 37,389 N/A |
| (f) | Date of the transaction | 2025-10-27 |
| (g) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| (a) | Name | Steven van Zuylen |
| 2 | Reason for the notification | |
| (b) | Position/status | Chief Technology Officer / PDMR |
| (c) | Initial notification/Amendment | Initial notification |
| (d) | Name | ASA International Group plc |
| (e) | LEI | 213800NSIUMXPDHUEO94 |
| 4 | Details of the transaction(s) | |
| (f) | Description of the financial instrument, type of instrument | Ordinary shares of 1p each |
| Identification code | GB00BDFXHW57 | |
| (g) | Nature of the transaction | Grant of options with £1.79 exercise price under the ASA International Long-Term Incentive Plan |
| (h) | Currency | GBP |
| (i) | Price(s) and volume(s) | Price Volume Total Nil 31,339 N/A |
| (j) | Aggregated information | Price Volume Total Nil 31,339 N/A |
| (k) | Date of the transaction | 2025-10-27 |
| (l) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| (a) | Name | Grace Thiongo |
| 2 | Reason for the notification | |
| (b) | Position/status | Chief Risk and Compliance Officer / PDMR |
| (c) | Initial notification/Amendment | Initial notification |
| (d) | Name | ASA International Group plc |
| (e) | LEI | 213800NSIUMXPDHUEO94 |
| 4 | Details of the transaction(s) | |
| (f) | Description of the financial instrument, type of instrument | Ordinary shares of 1p each |
| Identification code | GB00BDFXHW57 | |
| (g) | Nature of the transaction | Grant of options with £1.79 exercise price under the ASA International Long-Term Incentive Plan |
| (h) | Currency | GBP |
| (i) | Price(s) and volume(s) | Price Volume Total Nil 24,182 N/A |
| (j) | Aggregated information | Price Volume Total Nil 24,182 N/A |
| (k) | Date of the transaction | 2025-10-27 |
| (l) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| (a) | Name | Sivan Maron / PDMR |
| 2 | Reason for the notification | |
| (b) | Position/status | Chief Human Resources Officer |
| (c) | Initial notification/Amendment | Initial notification |
| (d) | Name | ASA International Group plc |
| (e) | LEI | 213800NSIUMXPDHUEO94 |
| 4 | Details of the transaction(s) | |
| (f) | Description of the financial instrument, type of instrument | Ordinary shares of 1p each |
| Identification code | GB00BDFXHW57 | |
| (g) | Nature of the transaction | Grant of options with £1.79 exercise price under the ASA International Long-Term Incentive Plan |
| (h) | Currency | GBP |
| (i) | Price(s) and volume(s) | Price Volume Total Nil 20,157 N/A |
| (j) | Aggregated information | Price Volume Total Nil 20,157 N/A |
| (k) | Date of the transaction | 2025-10-27 |
| (l) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| (a) | Name | Tanwir Rahman |
| 2 | Reason for the notification | |
| (b) | Position/status | Chief Financial Officer / PDMR |
| (c) | Initial notification/Amendment | Initial notification |
| (d) | Name | ASA International Group plc |
| (e) | LEI | 213800NSIUMXPDHUEO94 |
| 4 | Details of the transaction(s) | |
| (f) | Description of the financial instrument, type of instrument | Ordinary shares of 1p each |
| Identification code | GB00BDFXHW57 | |
| (g) | Nature of the transaction | Grant of options with £1.79 exercise price under the ASA International Long-Term Incentive Plan |
| (h) | Currency | GBP |
| (i) | Price(s) and volume(s) | Price Volume Total Nil 19,679 N/A |
| (j) | Aggregated information | Price Volume Total Nil 19,679 N/A |
| (k) | Date of the transaction | 2025-10-27 |
| (l) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| (a) | Name | Mohammed Azim Hossain |
| 2 | Reason for the notification | |
| (b) | Position/status | Chief of Operations / PDMR |
| (c) | Initial notification/Amendment | Initial notification |
| (d) | Name | ASA International Group plc |
| (e) | LEI | 213800NSIUMXPDHUEO94 |
| 4 | Details of the transaction(s) | |
| (f) | Description of the financial instrument, type of instrument | Ordinary shares of 1p each |
| Identification code | GB00BDFXHW57 | |
| (g) | Nature of the transaction | Grant of options with £1.79 exercise price under the ASA International Long-Term Incentive Plan |
| (h) | Currency | GBP |
| (i) | Price(s) and volume(s) | Price Volume Total Nil 18,359 N/A |
| (j) | Aggregated information | Price Volume Total Nil 18,359 N/A |
| (k) | Date of the transaction | 2025-10-27 |
| (l) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| (a) | Name | Mohammed Ezazul Islam |
| 2 | Reason for the notification | |
| (b) | Position/status | Head of Internal Audit / PDMR |
| (c) | Initial notification/Amendment | Initial notification |
| (d) | Name | ASA International Group plc |
| (e) | LEI | 213800NSIUMXPDHUEO94 |
| 4 | Details of the transaction(s) | |
| (f) | Description of the financial instrument, type of instrument | Ordinary shares of 1p each |
| Identification code | GB00BDFXHW57 | |
| (g) | Nature of the transaction | Grant of options with £1.79 exercise price under the ASA International Long-Term Incentive Plan |
| (h) | Currency | GBP |
| (i) | Price(s) and volume(s) | Price Volume Total Nil 3,899 N/A |
| (j) | Aggregated information | Price Volume Total Nil 3,899 N/A |
| (k) | Date of the transaction | 2025-10-27 |
| (l) | Place of the transaction | Outside a trading venue |
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