31st Mar 2016 07:00
IXICO plc
Grant of Awards to Directors
31 March 2016, IXICO plc (Ticker: IXI) ('IXICO' or the 'Company'), the brain health company, today announces that on 29 March 2016 the Remuneration Committee agreed to grant options to the Company's Executive Directors and employees under the rules of the Company's EMI Share Option Plan 2014 (the "Scheme") exercisable at the placing price of 30.5p in accordance with the intention set out in the circular dated 18 November 2015.
The award of options under the Scheme are over the ordinary shares in the Company and are subject to various conditions. There are three tranches of options granted under the Scheme subject to different vesting criteria.
For each Executive Director, 50% of options under the first tranche ("Tranche 1") vest at the end of 12 months and 50% vest at the end of 24 months. Options under the second tranche ("Tranche 2") vest if there is a 20% increase in the share price within twelve months of the date of grant. Options under the third tranche ("Tranche 3") vest upon the achievement of strategic corporate goals in respect of commercialisation of the Company's products/services or a significant corporate development transaction within three years of the date of grant.
The total number of options being issued at this time is 1,778,274.
The following table sets out the details of the options that have been granted to the Executive Directors:
Name of Director | Grant 1 | Grant 2 | Grant 3 | Total number of options granted | Total number of options held | Percentage of existing issued shares under option |
Derek Hill | 30,117 | 200,000 | 200,000 | 430,117 | 490,353 | 1.85% |
Susan Lowther | 25,098 | 180,000 | 180,000 | 385,098 | 435,294 | 1.65% |
Total | 55,215 | 380,000 | 380,000 | 815,215 | 925,647 | 3.50% |
Enquiries:
IXICO plc | +44 20 3763 7499 |
Derek Hill, CEO | |
Susan Lowther, CFO | |
Peel Hunt LLP (Nominated Adviser and Broker) | +44 20 7418 8900 |
James Steel / Oliver Jackson | |
Daniel Stewart & Company (Joint Broker) | +44 207 776 6550 |
Martin Lampshire / David Coffman | |
FTI Consulting Limited (Investor Relations) | +44 20 3727 1000 |
Simon Conway / Mo Noonan / Matthew Moss |
Notes to Editors
About IXICO
IXICO's innovative and proprietary digital healthcare technologies help those involved in researching and treating serious diseases to capture and analyse clinical data to make rapid, informed decisions. In clinical research this includes the phenotyping of patients, quantification of disease pathology and measurement of patient outcomes. In clinical practice the mobile health and digital decision support technologies aid diagnosis, patient engagement and monitoring. IXICO is also collaborating with partners to develop companion digital health products targeted at improving patient outcomes.
The Company's brain health focus includes Alzheimer's disease, Huntington's disease, multiple sclerosis, Parkinson's disease, behavioural health, child and adolescent mental health.
More information is available on www.ixico.com
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