REG - Abingdon Health PLC - Award of Options under new LTIP Scheme
19/12/2022 07:16
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RNS Number : 0738K Abingdon Health PLC 19 December 2022
Abingdon Health plc
("Abingdon" or "the Company")
Award of Options under new LTIP Scheme
York, U.K. 19 December 2022: Abingdon Health plc (AIM: ABDX), a leading
international developer and manufacturer of high quality, rapid diagnostic
tests, announces the establishment of a new Long Term Incentive Plan ("LTIP"
or the "Plan") for certain directors and senior management in order to
incentivise and encourage retention in a manner that aligns with the interests
of the Company's shareholders. The new LTIP replaces the long term incentive
plan established at the time of the Company's admission to AIM ("Existing
Options") which has lapsed.
New Long Term Incentive Plan
Under the terms of the new LTIP, the Company has awarded share options
("Options") over a total of 4,119,285 ordinary shares of 0.025 pence each
("Ordinary Shares") to certain directors and senior management. There will be
a three-year vesting period and options may be exercised at a price of 7 pence
per Ordinary Share (being an 86 per cent. premium to the closing price on 16
December 2022). Vesting of the Options is conditional upon the business
achieving certain revenue and adj. EBITDA performance criteria. The Options
will become exercisable between 19 December 2025 and 19 December 2032.
The following individuals (each a person discharging managerial
responsibilities ("PDMR")) have been awarded options:
PDMR Role No. of options awarded No. of Existing Options Lapsed
Chris Yates Chief Executive Officer 1,285,714 390,625
Melanie Ross Chief Financial Officer 914,286 -
Chris Hand Non-Executive Chairman 428,571 -
Mark Jones Chief Operating Officer 600,000 -
Nina Garrett R&D Director 515,000 -
Candice Vendetuolli Head of QARA 285,714 -
Natalie Thrush Head of HR 90,000 -
Concert Party
Both Chris Yates and Chris Hand are deemed to be part of a concert party
comprising certain directors, employees, former employees and other
shareholders (the "Concert Party"). Where a Rule 9 Mandatory Offer would be
required as a result of any future exercise, Chris Hand and Chris Yates have
each confirmed in such circumstances that they would be prepared to
irrevocably commit to immediately sell any new shares created ahead of
exercise. In such circumstances, this would mean that their interests and the
interest of the wider Concert Party in the Company would reduce as a result of
the dilution created from the new shares issued, thereby meaning that a
Mandatory Offer under Rule 9 would not be required. The Company has consulted
with the Takeover Panel prior to implementation of the new LTIP.
As a result of these changes, the Company now has outstanding options over
4,333,858 Ordinary Shares equal to approximately 3.5 per cent. of the
Company's issued share capital.
Enquiries:
Abingdon Health plc www.abingdonhealth.com/investors/ (http://www.abingdonhealth.com/investors/)
Chris Yates, Chief Executive Officer Via Walbrook PR
Melanie Ross, Chief Financial Officer
Chris Hand, Non-Executive Chairman
Singer Capital Markets (Sole Broker and Nominated Adviser) Tel: +44 (0)20 7496 3000
Peter Steel, Alex Bond, Sam Butcher
Walbrook PR Limited Tel: +44 (0)20 7933 8780 or abingdon@walbrookpr.com
(mailto:abingdon@walbrookpr.com)
Paul McManus / Phillip Marriage Mob: +44 (0)7980 541 893 / +44 (0)7867 984 082
Alice Woodings +44 (0)7407 804 654
About Abingdon Health plc
Abingdon Health is a world leading developer and manufacturer of
high-quality lateral flow rapid tests
(https://www.abingdonhealth.com/services/) across all industry sectors,
including healthcare and COVID-19. Abingdon is the partner of choice for a
growing global customer base and takes projects from initial concept through
to routine and large-scale manufacturing and has also developed and marketed
its own labelled tests.
The Company offers product development, regulatory support, technology
transfer and manufacturing services for customers looking to develop new
assays or transfer existing laboratory-based assays to a lateral flow
format. Abingdon Health aims to support the increase in need for rapid
results across many industries and locations and produces lateral flow tests
in areas such as infectious disease, clinical testing including companion
diagnostics, animal health and environmental testing. Faster access to results
allows for rapid decision making, targeted intervention and can support better
outcomes. This ability has a significant role to play in improving life across
the world. To support this aim Abingdon Health has also developed AppDx(®),
a customisable image capturing technology that transforms a smartphone into a
self-sufficient, standalone lateral-flow reader.
Founded in 2008, Abingdon Health is headquartered in York, England.
For more information visit: www.abingdonhealth.com
(http://www.abingdonhealth.com/)
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Chris Yates
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Abingdon Health plc
b) LEI 213800XFI4WV3FBILO20
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 Ordinary Shares of 0.025 pence each
Identification code GB00BLF79J41
b) Nature of the transaction Award of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
Exercise price: 7.0p 1,285,714
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 19 December 2022
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Melanie Ross
2 Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Abingdon Health plc
b) LEI 213800XFI4WV3FBILO20
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 Ordinary Shares of 0.025 pence each
Identification code GB00BLF79J41
b) Nature of the transaction Award of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
Exercise price: 7.0p 914,286
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 19 December 2022
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Chris Hand
2 Reason for the notification
a) Position/status Non-Executive Chairman
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Abingdon Health plc
b) LEI 213800XFI4WV3FBILO20
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 Ordinary Shares of 0.025 pence each
Identification code GB00BLF79J41
b) Nature of the transaction Award of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
Exercise price: 7.0p 428,571
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 19 December 2022
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Mark Jones
2 Reason for the notification
a) Position/status Chief Operating Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Abingdon Health plc
b) LEI 213800XFI4WV3FBILO20
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 Ordinary Shares of 0.025 pence each
Identification code GB00BLF79J41
b) Nature of the transaction Award of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
Exercise price: 7.0p 600,000
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 19 December 2022
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Nina Garrett
2 Reason for the notification
a) Position/status R&D Director
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Abingdon Health plc
b) LEI 213800XFI4WV3FBILO20
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 Ordinary Shares of 0.025 pence each
Identification code GB00BLF79J41
b) Nature of the transaction Award of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
Exercise price: 7.0p 515,000
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 19 December 2022
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Candice Vendetoulli
2 Reason for the notification
a) Position/status Head of QARA
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Abingdon Health plc
b) LEI 213800XFI4WV3FBILO20
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 Ordinary Shares of 0.025 pence each
Identification code GB00BLF79J41
b) Nature of the transaction Award of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
Exercise price: 7.0p 285,714
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 19 December 2022
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Natalie Thursh
2 Reason for the notification
a) Position/status Head of HR
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Abingdon Health plc
b) LEI 213800XFI4WV3FBILO20
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 Ordinary Shares of 0.025 pence each
Identification code GB00BLF79J41
b) Nature of the transaction Award of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
Exercise price: 7.0p 90,000
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 19 December 2022
f) Place of the transaction Outside a trading venue
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