Harworth Group plc (HWG), the land regeneration and property development company, has disclosed the exercise of share plan options by directors and persons discharging managerial responsibilities (PDMRs) following the unconditional completion of Peel Pepper (UK) Limited's cash takeover offer at 187 pence per share. A total of 4,700,000 new ordinary shares have been allotted to satisfy awards under three employee share schemes, with transactions conducted on the London Stock Exchange between 12 and 26 October 2026. The disclosures arrive as Harworth prepares for the cancellation of its LSE listing, currently expected to take effect at 8.00 a.m. on 12 November 2026.

Key Points

  • Harworth Group plc (HWG) — land regeneration and property development company listed on the LSE Main Market
  • 4,700,000 ordinary shares allotted to satisfy options under the Harworth RSP, DBP, and SAYE plans following BidCo's acquisition becoming unconditional on 29 September 2026
  • All PDMR and PCA transactions executed at £1.87 per share; LSE listing cancellation expected 12 November 2026
  • Investors should note this is among the final regulatory disclosures before Harworth's shares are removed from trading on the LSE Main Market

BidCo's 187p Best and Final Offer Declared Unconditional on 29 September 2026

Peel Pepper (UK) Limited announced an increased best and final cash offer for Harworth Group at 187 pence per share on 25 September 2026. The Harworth Board unanimously recommended that shareholders accept the offer, describing its terms as fair and reasonable. BidCo declared the offer unconditional on 29 September 2026, and on 14 October 2026 confirmed it held 75 per cent or more of Harworth's voting rights. This milestone triggered the formal process to cancel Harworth's listing on the FCA's Official List and its admission to trading on the LSE's Main Market, with the notice period for that cancellation now commenced.

4.7 Million New Shares Issued Under Harworth RSP, DBP, and SAYE Plans

Following the acquisition becoming unconditional, outstanding options across the Harworth Restricted Share Plan, the Harworth Deferred Bonus Plan, and the Harworth Save As You Earn Plan vested and became unconditionally exercisable. The announcement confirms that 4,700,000 Harworth ordinary shares of 10 pence each were allotted and issued to plan participants, including certain directors and PDMRs, in accordance with proposals made by Harworth and BidCo on 2 October 2026 under Rule 15 of the Takeover Code. Admission of the plan shares to trading on the LSE became effective on or around 8.00 a.m. on 23 October 2026.

Chris Birch and Dougie Maudsley Among PDMRs Receiving and Selling Plan Shares at £1.87

The notification identifies two PDMRs — Chris Birch, General Counsel and Company Secretary, and Dougie Maudsley, Deputy Chief Financial Officer — as recipients of plan shares. Birch received 536,650 shares under the Harworth RSP and 21,604 shares under the SAYE, alongside 32,104 shares under the Share Incentive Plan. Maudsley received 369,716 RSP shares, 21,604 SAYE shares, and 29,237 Share Incentive Plan shares. Persons closely associated with both PDMRs — Natalie Birch and Carolyn Maudsley — also received and sold SAYE shares of 7,581 and 7,590 respectively, all at £1.87 per share on 26 October 2026.

LSE Delisting Expected at 8.00 a.m. on 12 November 2026, Ending Harworth's Public Market Status

The regulatory disclosures published on 27 October 2026 represent some of the final PDMR notifications Harworth is likely to make as a publicly listed entity. The cancellation of both the FCA Official List entry and LSE Main Market admission is expected to take effect at 8.00 a.m. on 12 November 2026, after BidCo surpassed the 75 per cent voting rights threshold. Investors holding remaining Harworth shares may wish to review the Best and Final Offer Document published on 2 October 2026 for full details of their options, as the window for trading on the public market is set to close imminently.