18th Nov 2016 07:00
PuriCore plc
("PuriCore" or the "Company")
Grant of Options
18 November 2016 - PuriCore plc (AIM: PURI), announces the grant of up to 1,425,000 share options to its directors to subscribe for ordinary shares of 10p each (the "Shares") in the capital of the Company (the "Options"). All Options were granted on 17 November 2016 (the "Grant Date"), have an exercise price of 29.50 pence each and a five year term.
Grants were made to Executive Directors, under the PuriCore Executive Omnibus Incentive Plan 2016 (the "Plan"), as noted below. The Options vest one-third per year on each of the first three anniversaries of the Grant Date on the basis of attainment of certain key performance measures relating to clinical development and other strategic targets, which will be evaluated on the relevant anniversaries.
Name | Title | Grant Amount |
Alex Martin | Chief Executive Officer | Up to 500,000 Shares |
Marella Thorell | Chief Financial & Operating Officer | Up to 500,000 Shares |
Grants were made to Non-Executive Directors, under individual agreements which are subject to the provisions of the Plan, as noted below. The Options vest one-third per year on each of the first three anniversaries of the Grant Date.
Name | Role | Grant Amount |
Charles Spicer | Non-Executive Chairman | Up to 100,000 Shares |
William Birkett | Senior Independent Non-Executive Director | Up to 65,000 Shares |
Balkrishan(Simba) Gill | Non-Executive Director | Up to 65,000 Shares |
Matthew Hammond | Non-Executive Director | Up to 65,000 Shares |
Daniel Hegglin | Non-Executive Director | Up to 65,000 Shares |
Peter Larkin | Non-Executive Director | Up to 65,000 Shares |
Following the above grants there is a total of approximately 4.4 million options over ordinary shares outstanding which represents approximately 8.75% of the current issued share capital of the Company.
Enquiries:
PuriCore plc | +44 (0) 20 3727 1000 |
Alex Martin, Chief Executive Officer Marella Thorell, Chief Financial Officer and Chief Operating Officer | |
FTI Consulting | +44 (0) 20 3727 1000 |
Simon Conway / Mo Noonan | |
N+1 Singer (Nominated Adviser & Broker) | +44 (0) 20 7496 3000 |
Aubrey Powell / Jen Boorer |
About PuriCore
PuriCore is an emerging specialty biopharmaceutical company focused on developing novel immunomodulatory therapies to protect and improve the lives of adults and children. The Company has initiated a drug development program, based on its proprietary hypochlorous acid technology at high concentrations. The Company believes their formulations have novel immunomodulatory activity with potential application for the treatment of diseases in a number of therapeutic areas including Dermatology and Ophthalmology.
1 | Details of the person discharging managerial responsibilities/person closely associated with them | ||
a) | Name | 1. Alex Martin 2. Marella Thorell 3. Charles Spicer 4. William Birkett 5. Balkrishan (Simba) Gill 6. Matthew Hammond 7. Daniel Hegglin 8. Peter Larkin | |
2 | Reason for notification | ||
a) | Position/status | 1. Chief Executive Officer 2. Chief Financial & Operating Officer 3. Non-Executive Chairman 4. Senior Independent Non-Executive Director 5. Non-Executive Director 6. Non-Executive Director 7. Non-Executive Director 8. Non-Executive Director | |
b) | Initial notification/Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | PuriCore PLC | |
b) | LEI | n/a | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares in Puricore PLC ISIN: GB00B3XBCR18 | |
b) | Nature of transaction | Grant of options over 1,425,000 shares under the PuriCore Executive Omnibus Incentive Plan 2016 and individual agreements | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
1. 29.50 pence 2. 29.50 pence 3. 29.50 pence 4. 29.50 pence 5. 29.50 pence 6. 29.50 pence 7. 29.50 pence 8. 29.50 pence | 500,000 500,000 100,000 65,000 65,000 65,000 65,000 65,000 | ||
d) | Aggregated information · Aggregated volume · Price | n/a (Single transaction) | |
e) | Date of the transaction | 17 November 2016 | |
f) | Place of the transaction | Outside a trading venue | |
Related Shares:
RLM.L