27th Mar 2009 16:51
For immediate release 27 March 2009
GW Pharmaceuticals plc
("the Company")
Notification of Interests of Directors
The Company has today granted the following awards to Directors over the Company's ordinary shares ("Shares").
On 27 March 2009, the Company granted the following awards in the form of nominal-cost options ("Awards") under the GW Pharmaceuticals plc Long-Term Incentive Plan:
|
Name |
Number of Shares under Award |
Total number of Shares over which options / awards held |
|
Dr Geoffrey Guy |
170,000 |
1,959,914 |
|
Justin Gover |
153,000 |
2,232,469 |
|
David Kirk |
137,000 |
2,410,136 |
|
Dr Stephen Wright |
140,000 |
1,317,180 |
The exercise price of the Awards is 0.1p per Share, the par value of the Shares.
The Awards will ordinarily vest on 27 March 2012 subject to the following performance conditions having been achieved:
One third of the award will vest if the 1st Major European Approval for the Company's lead product Sativex® has been achieved.
One third of the award will vest if a 2nd Major European Approval for Sativex has been achieved.
One third will vest if a 3rd Major European Approval for Sativex has been achieved.
Major European approvals are considered to include UK, France, Germany, Italy and Spain. Once vested, an Award may be exercised at any time prior to the tenth anniversary of the date of grant.
For further information please contact:
Adam George, Company Secretary
01980 557 000
Related Shares:
GWP.L