REG - Allergy Therapeutics - Allergy Therapeutics: Granting of Awards

Allergy TherapeuticsAnnouncement

25/11/2021 09:20

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RNS Number : 5901T  Allergy Therapeutics PLC  25 November 2021

 

 

Allergy Therapeutics plc

("Allergy Therapeutics" or the "Group")

 

Vesting and Granting of Awards under Long Term Incentive Plan

 

Allergy Therapeutics (AIM: AGY), the fully integrated pharmaceutical company
specialising in allergy vaccines, announces that:

 

Vesting of Award

Performance conditions attaching to provisional awards ("Awards") made
pursuant to the Company's Long Term Incentive Plan ("LTIP") for the three
years ended 1 November 2021, details of which were announced on 1 November
2018, have been met in part.

Consequently, on 22 November 2021, Allergy Therapeutics granted certain of its
director's options ("Options") over the Company's Ordinary Shares of 0.1 pence
in replacement for the Awards made under the LTIP as follows:

  Director       Percentage of Award Vested  Total number of Ordinary Shares over which Options granted  Exercise Price
 Manuel Llobet   89.3%                       803,700                                                     0.1 pence
 Nick Wykeman    89.3%                       401,850                                                     0.1 pence

 

In accordance with the rules of the LTIP, 50% of these Options are exercisable
immediately and the remaining 50% are subject to a holding period of three
years. The exercise period is ten years from date of grant.

Granting of Award

Pursuant to the Company's Long Term Incentive Plan ("LTIP") the following
conditional awards of Ordinary Shares of 0.1 pence each were made to Executive
Directors at a nominal cost of 0.1 pence each on 22 November 2021 ("New
Awards").

 

 Executive Director  Number of Conditional shares awarded (New Awards)
 Manuel Llobet       900,000
 Nick Wykeman        450,000

 

 

The New Awards have been granted in accordance with the LTIP rules and vesting
is conditional on the satisfaction of performance conditions in respect of
earnings growth and share price growth over three years.

 

Following the above share transactions, the Executive Directors hold the
following:

 Director       Unvested LTIP Awards  Options    Interest in Ordinary Shares
 Manuel Llobet  2,700,000             1,676,200  3,325,000
 Nick Wykeman   1,350,000             838,100    300,000

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Manuel Llobet

 2    Reason for the notification

 a)   Position/status                                              Chief Executive Office and PDMR

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         ALLERGY THERAPEUTICS PLC

 b)   LEI                                                          LEIR97215202003301009534776

 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  Conditional award of shares and grant of share options under the Company's

                                                            Long Term Incentive Plan

 b)   Identification code                                          GB00B02LCQ05
 c)   Nature of the transaction                                    Grant of conditional Awards

 d)   Price(s) and volume(s)                                       Awards        Price(s)    Volume(s)

                                                                   Options      0.1  pence   803,700

                                                                   New Awards   0.1 pence    900,000

 
 e)   Aggregated information

 1,703,700

                                                                   0.1  pence

 f)   Date of the transaction                                      22 November 2021

 g)   Place of the transaction                                     Outside a trading venue

 

e)

 

Aggregated information

 

 

 1,703,700

0.1  pence

 

f)

 

Date of the transaction

 

22 November 2021

g)

 

Place of the transaction

 

Outside a trading venue

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Nick Wykeman

 2    Reason for the notification

 a)   Position/status                                              Chief Financial Officer and PDMR

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         ALLERGY THERAPEUTICS PLC

 b)   LEI                                                          LEIR97215202003301009534776

 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  Conditional award of shares and grant of share options under the Company's

                                                            Long Term Incentive Plan

 b)   Identification code                                          GB00B02LCQ05
 c)   Nature of the transaction                                    Grant of conditional awards

 d)   Price(s) and volume(s)                                       Awards        Price(s)     Volume(s)

                                                            Options      0.1  pence    401,850

                                                                   New Awards   0.1 pence     450,000

 
 e)   Aggregated information

 851,850

                                                                   0.1 pence

 f)   Date of the transaction                                      22 November 2021

 g)   Place of the transaction                                     Outside a trading venue

 

e)

 

Aggregated information

 

 

 851,850

0.1 pence

 

f)

 

Date of the transaction

 

22 November 2021

g)

 

Place of the transaction

 

 

Outside a trading venue

 

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 ("MAR").

 

For further information, please contact:

 

 

Allergy Therapeutics

+44 (0) 1903 845 820

Manuel Llobet, Chief Executive Officer

Nick Wykeman, Chief Financial Officer

 

Panmure Gordon

+44 (0) 20 7886 2500

Freddy Crossley, Emma Earl, Corporate Finance

Rupert Dearden, Corporate Broking

 

Consilium Strategic Communications

+44 20 3709 5700

Mary-Jane Elliott / David Daley / Davide Salvi

allergytherapeutics@consilium-comms.com
(mailto:allergytherapeutics@consilium-comms.com)

 

Stern Investor Relations, Inc.

+1 212 362 1200

Christina Tartaglia

christina@sternir.com (mailto:christina@sternir.com)

 

 

Notes for editors:

 

About Allergy Therapeutics

 

Allergy Therapeutics is an international specialty pharmaceutical group
focussed on the treatment and diagnosis of allergic disorders, including
immunotherapy vaccines, that have the potential to cure disease. The Group
sells proprietary and third party products from its subsidiaries in nine major
European countries and via distribution agreements in an additional ten
countries. Its broad pipeline of products in clinical development include
vaccines for grass, tree and house dust mite, and peanut allergy vaccine in
pre-clinical development. Adjuvant systems to boost performance of vaccines
outside allergy are also in development.

 

Formed in 1999 out of Smith Kline Beecham, Allergy Therapeutics is
headquartered in Worthing, UK with more than 11,000m(2) of state-of-the-art
MHRA-approved manufacturing facilities and laboratories.  The Group, which
has achieved double digit compound annual growth since formation, employs
c.600 employees and is listed on the London Stock Exchange (AIM:AGY). For more
information, please see www.allergytherapeutics.com
(http://www.allergytherapeutics.com) .

 

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