REG - Deltex Med Grp PLC - Grant of options

Deltex MedicalAnnouncement

28/04/2021 07:00

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RNS Number : 7894W  Deltex Medical Group PLC  28 April 2021

28 April, 2021

Deltex Medical Group plc

("Deltex Medical" or the "Group")

 

Grant of options

Deltex Medical Group plc (AIM: DEMG), the global leader in Oesophageal Doppler
Monitoring ("ODM"), announces that yesterday, 27 April 2021, the Board
approved the issue of 14.5 million share options to 7 existing employees and
to Andy Mears, Chief Executive Officer,  under the Company's 2003 Share
Option Scheme (the "EMI Share Scheme").

 

Employee Share Option Scheme

 

Incorporated into the EMI Share Scheme, the Board has approved the issue of
5,000,000 share options to Andy Mears, Chief Executive. The exercise price for
these shares is 1.80 pence per share option, the closing price on 27 April
2021. The share options for the Chief Executive may ordinarily be exercised
between April 2024 and April 2031 and are subject to performance conditions
which are based on achieving certain specified earnings targets.

 

On 22 July 2020 the Company announced that it had granted 4,000,000 share
options to Andy Mears, Chief Executive Officer, and 1,000,000 to David
Moorhouse, Group Finance Director. This should have said that the options were
awarded under the 2011 Executive Share Scheme rather than the 2003 EMI Share
Scheme.

 

Confirmation of Directors' interests in share options

 

Following the grant of EMI options above, the options held by Directors are
shown below:

 

Executive Director      2011 Executive Share Scheme     2003 EMI
Share Scheme             Total

 
Number
Number                    Number

 

Andy Mears                            6,387,500
 
 15,000,000                  21,387,500

 

David Moorhouse                   1,000,000
 
-                       1,000,000

 

Nigel Keen, Deltex Medical's Chairman, commented:

 

"The Company has navigated its way through the lockdown period successfully.
All the indiciations are present that elective surgery will return to more
normal levels in the second half of 2021. The Company is well placed to take
advantage of this and the Board wished to motivate key employees by awarding
these share options. "

 

For further information, please contact:

 

 Deltex Medical Group plc                                        01243 774 837

 Nigel Keen, Chairman                                             investorinfo@Deltexmedical.com (mailto:investorinfo@Fitbitmedical.com)
 Andy Mears, Chief Executive
 David Moorhouse, Group Finance Director

 Arden Partners plc                                              020 7614 5900
 Paul Shackleton

 Dan Gee-Summons

 Joint Broker
 Turner Pope Investments (TPI) Ltd                               0203 657 0050
 Andy Thacker                                                     info@turnerpope.com (mailto:info@turnerpope.com)

 Zoe Alexander

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         a.   Andy Mears (Chief Executive)

                                                                   b.   David Moorhouse (Group Finance Director)

 2    Reason for the notification
 a)   Position/status                                              See 1 a) above
 b)   Initial notification /Amendment                              Initial notification

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

    platform, auctioneer or auction monitor

 a)   Name                                                         Deltex Medical Group plc
 b)   LEI                                                          213800XN34P6LI8J6M39
 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  Issue of share options

       Identification code

                                                                   Identification code (ISIN) for Deltex Medical Group plc ordinary shares:
                                                                   GB0059337583

 b)   Nature of the transaction                                    Issue of options
 c)   Price(s) and volume(s)                                        Issue of share options

                                                                   a.   5,000,000

 d)   Aggregated information

      - Aggregated volume                                          5,000,000

      - Price                                                      Exercisable at 1.80 pence
 e)   Date of the transaction                                      27.4.21
 f)   Place of the transaction                                     Outside a trading venue

 

Notes for Editors

Deltex Medical manufactures and markets haemodynamic monitoring technologies
which are primarily used in critical care and general surgical procedures.
Deltex Medical's proprietary oesophageal Doppler monitoring ("ODM")
(TrueVue Doppler) measures blood flow velocity in the central circulation in
real time. Minimally invasive, easy to set-up and quick to focus, the
technology generates a low-frequency ultrasound signal which is highly
sensitive to changes in blood flow and measures such changes in 'real time'.
Deltex Medical is the only company in the enhanced haemodynamic space to have
built a robust and credible evidence base demonstrating both the clinical and
economic benefits of its core technology: TrueVue Doppler. This technology
has been proven in a wide range of clinical trials to reduce complications
suffered by patients after surgery and consequently can save hospitals money.

Deltex Medical's TrueVue System on the CardioQ-ODM+ monitor platform now
provides clinicians with two further advanced haemodynamic monitoring
technologies. TrueVue Impedance is an entirely non-invasive monitoring
technology which transmits low magnitude, high frequency electrical signals
through the thorax and measures the changes to this signal when the heart
pumps blood. TrueVue PressureWave uses the peripheral blood pressure signal
analysis to give doctors information on changes in the circulation and is
particularly suited to monitoring lower risk or haemodynamically stable
patients.

Group goal

Haemodynamic management is now becoming widely accepted as a vital part of the
anaesthesia protocols for surgical patients, as well as treating ventilated
intensive care patients, including ventilated COVID-19 patients. Consequently,
the Group's focus is on maximising value from the opportunities presented, as
enhanced haemodynamic management is adopted into routine clinical practice
around the world. The Group aims to provide clinicians with a single platform
- a 'haemodynamic workstation' - which offers them a range of technologies
from simple to sophisticated to be deployed according to the patient's
clinical condition as well as the skill and expertise of the user. Doing this
will enable the Group to partner with healthcare providers to support modern
haemodynamic management across the whole hospital.

The Group is currently in the implementation phase of achieving this goal in a
number of territories worldwide, operating directly in the UK and the USA, and
via agreements with approximately 40 distributors overseas.

 

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