REG - Genedrive PLC - Grant of Options

GenedriveAnnouncement

20/12/2024 12:30

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RNS Number : 9739Q  Genedrive PLC  20 December 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 8,900,000 new 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 19 December 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 2026. 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                                      Gino Miele  Chief Executive Officer

                                                                 Russell Shaw  Chief Financial Officer

                                                                 Patrick Breen  Chief Commercial Officer

                                                                 Jonathan Barber  Operations Director

                                                                 Shaun Ainsworth  Assay Development Director

                                                                 Grzegorz Zysko  Engineering Director

                                                                 Caroline Alexander  Director QA/RA

 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)
                                                                 Gino Miele          2.1p             3,500,000
                                                                 Russell Shaw        2.1p             3,500,000
                                                                 Patrick Breen       2.1p             600,000
                                                                 Jonathan Barber     2.1p             400,000
                                                                 Shaun Ainsworth     2.1p             400,000
                                                                 Grzegorz Zysko      2.1p             400,000
                                                                 Caroline Alexander  2.1p             100,000

 
 d.                    Aggregated information

                       Aggregated volume                        N/A

                       Price

 e.                    Date of the transaction                   2024-12-20
 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

2024-12-20

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
 Gino Miele: 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 and simple to use point of need
pharmacogenetic platform for the diagnosis of genetic variants. This helps
clinicians to quickly access key genetic information that will aid them make
the right choices over the right medicine or dosage to use for an effective
treatment, particularly important in time-critical emergency care healthcare
paradigms. Based in the UK, the Company is at the forefront of Point of Care
pharmacogenetic testing in emergency healthcare. Pharmacogenetics informs on
how your individual genetics impact a medicines ability to work for you.
Therefore, by using pharmacogenetics, medicine choices can be personalised,
made safer and more effective. The Company has launched its two flagship
products, the Genedrive® MT-RNR1 ID Kit and the Genedrive® CYP2C19 ID Kit,
both developed and validated in collaboration with NHS partners and deployed
on its point of care thermocycler platform. Both tests are single-use
disposable cartridges which are ambient temperature stable, circumventing the
requirement for cold chain logistics. The Directors believe the Genedrive®
MT-RNR1 ID Kit is a worlds-first and allows clinicians to make a decision on
antibiotic use in neonatal intensive care units within 26 minutes, ensuring
vital care is delivered, avoiding adverse effects potentially otherwise
encountered and with no negative impact on the patient care pathway. Its
CYP2C19 ID Kit which has no comparably positioned competitor currently allows
clinicians to make a decision on the use of Clopidogrel in stroke patients in
70 minutes, ensuring that patients who are unlikely to benefit from or suffer
adverse effects from Clopidogrel receive an alternative antiplatelet
therapeutic in a timely manner, ultimately improving outcomes. Both tests have
undergone review by the National Institute for Health and Care Clinical
Excellence ("NICE") and have been recommended for use in the UK NHS.

 

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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