REG - Genedrive PLC - Director/PDMR Shareholding

GenedriveAnnouncement

06/02/2024 14:15

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RNS Number : 2221C  Genedrive PLC  06 February 2024

genedrive plc

("genedrive" or the "Company")

 

Notification and public disclosure of transactions by persons discharging

managerial responsibilities and persons closely associated with them

 

genedrive plc (AIM: GDR), the point of care pharmacogenetic testing company,
announces that it has granted share options ("Options") to members of its
senior management team to acquire a total of 2,050,000 ordinary shares of 1.5p
each ("Ordinary Shares") in the Company under the Company's Share Option
Scheme.

 

The Options have been granted with an exercise price equal to the close price
on 05 February 2024, being the day before the grant and vest after a period of
three years, subject to certain performance criteria being met through
achieving revenue targets, achieving cash targets and completing certain
strategic projects in the year ending June 2025. The Options are exercisable
over the period of 10 years from the date of grant.

 

The information set out below is provided in accordance with the requirements
of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

 

 1.                    Details of the person discharging managerial responsibilities / person closely
                       associated
 a.                    Name                                      James Cheek CEO

                                                                 Russell Shaw CFO

                                                                 Gino Miele CSO

                                                                 Patrick Breen CCO

                                                                 Jonathan Barber Operations Director

 2.                    Reason for the notification
 a.                    Position/status                           See box 1a. above

 a.                    Initial notification                      Initial notification

                       /Amendment
 3.                    Details of the issuer, emission allowance market participant, auction
                       platform, auctioneer or auction monitor
 a.                    Name                                      genedrive plc
 b.                    LEI                                       213800ZYODIRZ87Y4K14
 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                        Options over ordinary shares of 1.5 pence each

                       Financial instrument, type

                       of instrument

                       Identification code

                                                                 GB00B1VKB244
 b.                    Nature of the transaction                 Grant of options pursuant to and in accordance with the terms of the
                                                                 Company's Share Option Scheme dated 29 November 2017
 c.                    Price(s) and volume(s)

          Option price(s)  Volume(s)
                                                                 James Cheek        6.0p             750,000
                                                                 Russell Shaw       6.0p             500,000
                                                                 Gino Miele         6.0p             500,000
                                                                 Patrick Breen      6.0p             150,000
                                                                 Jonathan Barber    6.0p             150,000

 
 d.                    Aggregated information

                       Aggregated volume                        N/A

                       Price

 e.                    Date of the transaction                   2024-02-06
 f.                    Place of the transaction                  Outside a trading venue - shares to be admitted to AIM market of London Stock
                                                                 Exchange plc on exercise of options

 

d.

Aggregated information

Aggregated volume

Price

 

 

N/A

 

e.

Date of the transaction

2024-02-06

f.

Place of the transaction

Outside a trading venue - shares to be admitted to AIM market of London Stock
Exchange plc on exercise of options

 

For further details please contact:

 genedrive plc                                     +44 (0)161 989 0245
 James Cheek: CEO / Russ Shaw: CFO

 Peel Hunt LLP (Nominated Adviser and Broker)      +44 (0)20 7418 8900
 James Steel / Patrick Birkholm

 Walbrook PR Ltd (Media & Investor Relations)      +44 (0)20 7933 8780 or genedrive@walbrookpr.com
 Anna Dunphy                                        +44 (0)7876 741 001

 

 

About genedrive plc (http://www.genedriveplc.com
(http://www.genedriveplc.com/) )

 

genedrive plc is a pharmacogenetic testing company developing and
commercialising a low cost, rapid, versatile, simple to use and robust point
of need pharmacogenetic platform for the diagnosis of genetic variations. This
helps clinicians to quickly access key genetic information that will help them
make the right choices over the right medicine or dosage to use for an
effective treatment. Based in the UK, the Company is at the forefront of work
on Point of Care pharmacogenetics. Pharmacogenetics looks at how your genetics
impacts a medicines ability to work for you. Therefore, by using
pharmacogenetics, medicines can be made safer and more effective. The Company
has launched its flagship product, the Genedrive® MT-RNR1 ID Kit, which is a
single-use disposable cartridge which circumvents the requirement for cold
chain logistics by providing temperature stable reagent test kits for use on
their proprietary test platform. This test allows clinicians to make a
decision on antibiotic use within 26 minutes, ensuring vital care is delivered
with no negative impact on the patient pathway.

 

The Company has a clear commercial strategy focused on accelerating growth
through maximising in-market sales, geographic and portfolio expansion and
strategic M&A, and operates out of its facilities in Manchester.

 

 

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