27th Jun 2005 06:00
Physiomics announces an employee share subscription scheme and issue of share options Oxford, UK, 27 June 2005 The Board of Physiomics plc (AIM:PYC), a Europeansystems biology simulation company, has decided to initiate a sharesubscription scheme, and issue unapproved share options. These measures aredesigned to incentivise and retain key staff and align their interests moreclosely with those of shareholders.The Board of Physiomics has authorised, effective from 24th June 2005, theissue of 2,000,000 new shares in respect of a share subscription scheme underwhich part of the cost is funded as a loan from Physiomics to employees. Thescheme gives all employees an opportunity to subscribe for shares, if theywish, up to a value of ‚£5000 each. Of these shares, 500,000 have beensubscribed for by Dr John Savin, CEO, and 500,000 have been subscribed for byProfessor David Fell, Science Director, at a price of 1p, being the middaymid-market price on the 24th June 2005. The balance of the shares have beensubscribed for by members of staff. Excluding Directors, 80% of eligible staffhave taken advantage of this scheme. Membership of the share subscriptionscheme requires continuing employment by Physiomics.The Board has also granted employees a total of 14,158,571 unapproved shareoptions at 1.75p per Ordinary Share of 0.04p. Of these, Dr John Savin, CEO, hasreceived 5,708,571 unapproved share options. No other Directors have beenawarded options.The unapproved share options can be exercised in part on the achievement ofvarious key performance measures determined by the remuneration committee,namely the signing of a further contract for Clinical Response Prediction andsignificant scientific progress. In addition, half of all awarded options canonly be exercised after at least two years' continuous employment from thestart of the scheme, that is after 24th June 2007. The options expire after 10years.Following the issue of shares under the share subscription scheme and theiradmission to trading, the Company will have 232,025,599 shares in issue.Professor David Fell will hold 800,000 shares (0.34% of the enlarged issuedshare capital) and Dr John Savin 550,000 shares (0.24% of the enlarged issuedshare capital). Application will be made for admission of the new OrdinaryShares, which will rank pari passu with existing shares, to AIM.The Chairman of Physiomics, Dr Stephen Parker commented "For a rapidlydeveloping high technology business like Physiomics, staff retention andmotivation are essential to long-term shareholder returns. These incentives aredesigned to ensure that that enthusiasm and commitment of all employees is keptwithin the business and rewarded, to the benefit of all shareholders.Physiomics has continued to develop its technology since the IPO in December2004 and is now actively marketing its Clinical Response Prediction service inEurope and the USA. The recent appointment of Physiomics as a distributor ofBayer's PK-Sim‚® products for all therapeutic areas adds to our commercialactivities. " --ENDS- For further information please contact: Physiomics plcDr Stephen Parker (Chairman) Tel: 07771 526 785Dr John Savin (CEO) Tel: 01865 784 980 Northbank Communications Tel: 020 7886 8150Emma PalmerRowan MinnionNotes to EditorsPhysiomics plcPhysiomics plc, founded in 2001, develops and sells services aimed at reducingthe high cost of drug development for pharmaceutical and biotechnologycompanies by optimising the design of cancer clinical trials through theapplication of computer-based simulations. Physiomics is also applying itstechnologies to develop proprietary cancer therapy products for out-licensingand, to this end, it has secured an option to license two innovative molecules.Physiomics also acts as a distributor for advanced physiologically-basedpharmacokinetic products and services from Bayer Technology Services GmbH. Formore information go to www.physiomics-plc.com Physiomics plc Registered in England and Wales Number 4225086 Registered Office: The Magdalen Centre, Oxford Science Park, Oxford OX4 4GA, UKENDPHYSIOMICS PLCRelated Shares:
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