Grant of Share Options
Manolete Partners plc announced on December 17, 2025, the grant of nominal cost share options to its executive directors, with Philomena Halton receiving a performance share award of 200,000 shares and a restricted share award of 196,875 shares, while William Sawyer was granted a performance share award of 200,000 shares. The performance share awards are subject to vesting conditions related to earnings per share and average share price by March 2028, while the restricted share award is partially exercisable immediately.
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Manolete, the leading UK-listed insolvency litigation financing company, announces that on 17 December 2025 it granted nominal cost share options over ordinary shares of 0.4p each in the Company to its executive directors as set out in the table below.
| Director | Award type | Number of shares subject to option |
|---|---|---|
| Philomena (Mena) Halton | Performance share award | 200,000 |
| William (Will) Sawyer | Performance share award | 200,000 |
| Philomena Halton | Restricted share award | 196,875 |
The performance share award options were granted under the Company's share option plan. The restricted share award was granted on a one-off basis under a separate agreement in recognition of Philomena Halton's recent promotion to Chief Executive Officer.
The performance share awards will ordinarily vest on the third anniversary of their grant subject to the grantee's continued service and the satisfaction of performance conditions based on (with equal weighting) (i) earnings per share for the Company's financial year ending 31 March 2028; and (ii) average share price over the five days preceding the third anniversary of the grant of the options. Sliding scale performance targets apply in respect of both elements, with 25% of the relevant portion of each option vesting for threshold performance, rising on a straight-line basis for full vesting of the relevant portion of each option for stretch performance or better.
The restricted share award is partially exercisable immediately, covering 175,000 of the total shares under option, and this part is not subject to any conditions. The remainder of the option, covering 21,875 shares, is exercisable after 11 August 2026 provided that employment has not been terminated before that date. There are no other conditions attached to this part of the award.
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | 1. Philomena Halton 2. William Sawyer |
| 2. | Reason for the Notification | |
| a) | Position/status | 1. Chief Executive Officer 2. Chief Financial Officer |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Manolete Partners plc |
| b) | LEI | 213800R2X9V3KWCC4H47 |
| a) | Description of the Financial instrument, type of instrument | Ordinary shares of 0.4p |
| Identification code | GB00BYWQCY12 | |
| b) | Nature of the transaction | Grant of options over ordinary shares with an exercise price per ordinary share equal to the nominal value of an ordinary share |
| c) | Price(s) and volume(s) | Price(s) Volume(s) 1 Nil 200,000 2 Nil 200,000 |
| d) | Aggregated information: ·Aggregated volume ·Price | See 4 (c) above |
| e) | Date of the transaction | 17 December2025 |
| f) | Place of the transaction | Outside of a trading venue |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Philomena Halton |
| 2. | Reason for the Notification | |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Manolete Partners plc |
| b) | LEI | 213800R2X9V3KWCC4H47 |
| a) | Description of the Financial instrument, type of instrument | Ordinary shares of 0.4p |
| Identification code | GB00BYWQCY12 | |
| b) | Nature of the transaction | Grant of an option over ordinary shares with an exercise price per ordinary share equal to the nominal value of an ordinary share |
| c) | Price(s) and volume(s) | Price(s) Volume(s) Nil 196,875 |
| d) | Aggregated information: ·Aggregated volume ·Price | See 4 (c) above |
| e) | Date of the transaction | 17 December 2025 |
| f) | Place of the transaction | Outside of a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.