REG - hVIVO PLC - Long Term Incentive Plan/ PDMR Notification

hVIVOAnnouncement

11/10/2024 07:00

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RNS Number : 7856H  hVIVO PLC  11 October 2024

11 October 2024

hVIVO plc

("hVIVO", the "Company" or the "Group")

 

Long Term Incentive Plan/ PDMR Notification

 

hVIVO plc (AIM: HVO), a fast-growing specialist contract research organisation
(CRO) and world leader in testing infectious and respiratory disease products
using human challenge clinical trials, announces that the Company has granted
Yamin Khan, the Company's Chief Executive Officer, and certain senior
employees, a Long Term Incentive Plan ("LTIP").

 

The awards are intended to reward, incentivise and retain Mr Khan and certain
senior employees to deliver sustainable growth for shareholders.

 

Under the LTIP, Mr Khan has been awarded 4,606,794 nominal cost long term
incentive options ("LTIP Options") over ordinary shares of £0.001 each in
the Company. 75% of Mr. Khan's award is subject to three performance
conditions for the three-year period ending 31 December 2026:

 

·    30% is subject to an absolute three-year total shareholder return
("TSR") performance subject to the achievement of a minimum 10% CAGR TSR
performance increasing on a straight-line basis to full vesting on achievement
of a 18% CAGR TSR performance;

·    30% is subject to the achievement of 8.3% EBITDA CAGR increasing on a
straight-line basis to full vesting on achievement of a 10.4% EBITDA CAGR; and

·    15% is subject to effectively implementing the Company's ESG and
sustainability strategy

 

All performance metrics will be calculated from the base year ended 31
December 2023. The LTIP Options awarded to Mr. Khan will vest, subject to
performance conditions, on 30 June 2027.

 

Following this grant, Mr Khan, holds 523,730 Ordinary Shares and 11,834,067
options. Together these represent 1.78% of the fully diluted share capital of
the Company.

 

In addition, the Company granted 350,832 LTIP Options to certain senior
employees. These awards are 50% subject to the absolute TSR performance
condition and 50% subject to the EBITDA performance conditions referenced
above. The LTIP Options awarded to senior employees will vest on the third
anniversary of the grant.

 

Following the granting of this LTIP, the Company has 15,176,515 options in
issue, representing 2.18% of the issued share capital of hVIVO.

 

All awards are subject to malus and clawback provisions.

 

 

For further information please contact:

 

 hVIVO plc                                       +44 (0) 20 7756 1300
 Yamin 'Mo' Khan, Chief Executive Officer

 Stephen Pinkerton, Chief Financial Officer

 Cavendish Capital Markets Limited (Nominated Adviser and Joint Broker)                                  +44 (0) 20 7220 0500
 Geoff Nash, Camilla Hume, Harriet Ward
 Nigel Birks - Life Science Specialist Sales

 Louise Talbot - Sales

 Peel Hunt LLP (Joint Broker)                                                +44 (0)20 7418 8900
 James Steel, Dr Christopher Golden

 Davy (Joint Broker)                                                         +353 (0) 1 679 6363
 Anthony Farrell, Niall Gilchrist

 Walbrook PR (Financial PR & IR)                 +44 (0) 20 7933 8780 or hvivo@walbrookpr.com (mailto:hvivo@walbrookpr.com)

 Stephanie Cuthbert, Phillip Marriage,           +44 (0) 7796 794 663 / +44 (0) 7867 984 082 /

Louis Ashe-Jepson
+44 (0) 7747 515 393

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
("MAR") EU no.596/2014. Upon the publication of this announcement via
Regulatory Information Service ("RIS"), this inside information is now
considered to be in the public domain.

 

Notes to Editors

 

About hVIVO

 

hVIVO plc (http://www.hvivo.com) (ticker: HVO) is a fast-growing specialist
contract research organisation (CRO) and the world leader in testing
infectious and respiratory disease vaccines and therapeutics using human
challenge clinical trials. The Group provides end-to-end early clinical
development services to its large, established and growing repeat client base,
which includes four of the top 10 largest global biopharma companies.

 

The Group's fast-growing services business includes a unique portfolio of 11
human challenge models, with a number of new models under development, to test
a broad range of infectious and respiratory disease products. The Group has
world class challenge agent manufacturing capabilities, specialist drug
development and clinical consultancy services via its Venn Life Sciences
brand, and a lab offering via its hLAB (https://hlabservices.com/) brand,
which includes virology, immunology biomarker and molecular testing. The Group
also offers additional clinical field trial services such as patient
recruitment and clinical trial site services.

 

hVIVO runs challenge trials in London - its new state-of-the-art facilities
in Canary Wharf opened in 2024 and is the world's largest commercial human
challenge trial unit, with highly specialised on-site virology and immunology
laboratories, and an outpatient unit. To recruit volunteers / patients for its
studies, the Group leverages its unique clinical trial recruitment capability
via its FluCamp (http://www.flucamp.com/) volunteer screening facilities
in London and Manchester.

 

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 of PDMR                                                 Yamin 'Mo' Khan
 2   Reason for notification

 a.  Position/Status                                              Chief Executive Officer
 b.  Initial notification/                                        Initial notification

     Amendment
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a.  Name                                                         hVIVO plc
 b.  LEI                                                          213800VT5KBM7JLIV118
 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  Options over Ordinary shares of £0.001 each

     Identification Code

                                                                  ISIN GB00B9275X97

 b.  Nature of the transaction                                    Award of options pursuant to hVIVO plc 2024 Long Term Incentive Plan
 c.  Price(s) and volume(s)                                       Price(s)                             Volume(s)
     £0.001                                                                                            4,606,794
 d.  Aggregated information

     - Aggregated Volume                                          4,606,794

     - Price                                                      £0.001
 e.  Date of the transaction                                      10 October 2024
 f.  Place of the transaction                                     Outside a trading venue

 

 

 

 

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