REG - Intelligent Ultrasnd - Grant of Share Options

Intelligent UltrasoundAnnouncement

22/12/2023 07:00

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RNS Number : 6898X  Intelligent Ultrasound Group PLC  22 December 2023

Intelligent Ultrasound Group plc

("the Company")

 

Grant of Share Options

 

Intelligent Ultrasound Group plc (AIM: IUG), the ultrasound artificial
intelligence (AI) software and simulation company, announces the grant of
2,649,015 share options to the Directors and 6,800,332 share options to other
management and employees (together the "options") on 21 December 2023 at a
price of 9.6 pence per share, representing the closing mid-market price on 20
December 2023, the date of approval by the Remuneration Committee.

Individual Director option grants

 

 Director        New grant  Type
 Stuart Gall     530,428    EMI
 Stuart Gall     501,322    Non-EMI
 Nicholas Sleep  450,297    Non-EMI
 Nicholas Sleep  530,428    EMI
 Helen Jones     334,409    Non-EMI
 Helen Jones     302,131    EMI

 

Following the option grants above, the Directors hold the total number of
share options as shown below:

 

 Director                                   Number of options held
 Stuart Gall                                4,880,048
 Nicholas Sleep                             3,879,436
 Helen Jones                                2,298,806
                                            11,058,490
 % of share capital on fully diluted basis  3.1%

 

Vesting criteria for all options

The share options vest equally over three years i.e. one third on the first,
second and third anniversary of issue, subject to the grantee's continued
service with the Group and will remain exercisable at any point up until the
tenth anniversary of the date of grant.

 Number of shares in respect of which the Option shall vest
 1/3 vest after 12 months
 1/3 vest after a further 12 months
 1/3 vest after a further 12 months

Management and employee options

A total of 6,800,332 options have been issued to other management and
employees. These option grants are under the Company's EMI scheme where the
individual and the grant meets EMI criteria. Grants which do not qualify are
under the same rules as the EMI scheme but will not benefit from EMI tax
status.

The notification in Appendix 1 to this announcement, made in accordance with
the requirements of the EU Market Abuse Regulation, provides further detail.

 

For further information, please contact:

 

 Intelligent Ultrasound Group plc                 www.intelligentultrasound.com (http://intelligentultrasound.com/)
 Stuart Gall, CEO                                 Tel: +44 (0)29 2075 6534
 Helen Jones, CFO

 Cavendish Capital Markets Limited - Nominated Adviser and Broker
 Giles Balleny/Dan Hodkinson (Corporate Finance)  Tel:  +44 (0)20 7220 0500
 Michael Johnson/Julian Morse (Sales)

 Nigel Birks (ECM)

 TB Cardew - PR Advisors                          Intelligentultrasound@tbcardew.com (mailto:Intelligentultrasound@tbcardew.com)

 Ed Orlebar                                       Tel: +44 (0)7738 724630
 Allison Connolly                                                           Tel: +44 (0)7587 453955
 Emma Pascoe-Watson                               Tel: +44 (0)7774 620415

 

About Intelligent Ultrasound Group

 

Intelligent Ultrasound (AIM: IUG) is one of the world's leading 'classroom to
clinic' ultrasound companies, specialising in real-time hi-fidelity virtual
reality simulation for the ultrasound training market ('classroom') and
artificial intelligence-based clinical image analysis software tools for the
diagnostic medical ultrasound market ('clinic'). Based in Cardiff in
the UK and Atlanta in the US, the Group has two revenue streams:

 

Simulation

 

Real-time hi-fidelity ultrasound education and training through simulation.
Our main products are the ScanTrainer obstetrics and gynaecology training
simulator, the HeartWorks echocardiography training simulator,
the BodyWorks Eve Point of Care and Emergency Medicine training simulator
with Covid-19 module and the new BabyWorks Neonate and Paediatric training
simulator. To date over 1,500 simulators have been sold to over 750 medical
institutions around the world.

 

Clinical AI software

 

Deep learning-based algorithms to make ultrasound machines smarter and more
accessible using our proprietary ScanNav ultrasound image analysis
technology. Current products on the market utilising this technology are GE
Healthcare's SonoLyst software that is incorporated in their Voluson Expert
22 and SWIFT ultrasound machines; ScanNav Anatomy PNB that simplifies
ultrasound-guided needling by providing the user with real-time AI-based
anatomy highlighting for a range of medical procedures; and NeedleTrainer
that teaches real-time ultrasound-guided needling and incorporates ScanNav
Anatomy PNB.

 

www.intelligentultrasound.com (http://www.intelligentultrasound.com/)

 

NOTE: ScanNav Anatomy PNB is CE approved and cleared for sale in the US by the
FDA, but is not available for sale in any other territory requiring government
approval for this type of product.

 

 

 

 

 

 

Appendix 1

 

The Company makes the following disclosures in accordance with article 19(3)
of the Market Abuse Regulation:

 

 NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL
 RESPONSIBILITIES
 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Stuart Gall
 2   Reason for the notification
 a)  Position/status                                              Chief Executive Officer
 b)  Initial notification/amendment                               Initial notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Full name of the entity                                      Intelligent Ultrasound Group plc
 b)  Legal entity identifier code                                 213800K4ZVWL4ZYQAZ70
 4   Details of the transaction(s)
 a)  Description of the financial instrument, type of instrument  Options over ordinary shares in Intelligent Ultrasound Group plc with a
                                                                  nominal value of 1 pence each
 b)  Identification Code                                          ISIN: GB00BN791Q39
 c)  Nature of the transaction                                    Grant of options over Ordinary Shares
 d)  Currency                                                     GBP - British pound
 e)  Price(s) and Volume(s)

                                                                  Price - 9.6 pence

                                                                  Volume - 1,031,750
 f)  Aggregated information                                       N/A

     -       Price

     -       Volume

     -       Total
 g)  Date of transaction                                          21 December 2023
 h)  Place of transaction                                         Off market

 

 NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL
 RESPONSIBILITIES
 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Nicholas Sleep
 2   Reason for the notification
 a)  Position/status                                              Chief Technical Officer
 b)  Initial notification/amendment                               Initial notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Full name of the entity                                      Intelligent Ultrasound Group plc
 b)  Legal entity identifier code                                 213800K4ZVWL4ZYQAZ70
 4   Details of the transaction(s)
 a)  Description of the financial instrument, type of instrument  Options over ordinary shares in Intelligent Ultrasound Group plc with a
                                                                  nominal value of 1 pence each
 b)  Identification Code                                          ISIN: GB00BN791Q39
 c)  Nature of the transaction                                    Grant of options over Ordinary Shares
 d)  Currency                                                     GBP - British pound
 e)  Price(s) and Volume(s)

                                                                  Price - 9.6 pence

                                                                  Volume - 980,725
 f)  Aggregated information                                       N/A

     -       Price

     -       Volume

     -       Total
 g)  Date of transaction                                          21 December 2023
 h)  Place of transaction                                         Off market

 

 

 NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL
 RESPONSIBILITIES
 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Helen Jones
 2   Reason for the notification
 a)  Position/status                                              Chief Financial Officer
 b)  Initial notification/amendment                               Initial notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Full name of the entity                                      Intelligent Ultrasound Group plc
 b)  Legal entity identifier code                                 213800K4ZVWL4ZYQAZ70
 4   Details of the transaction(s)
 a)  Description of the financial instrument, type of instrument  Options over ordinary shares in Intelligent Ultrasound Group plc with a
                                                                  nominal value of 1 pence each
 b)  Identification Code                                          ISIN: GB00BN791Q39
 c)  Nature of the transaction                                    Grant of options over Ordinary Shares
 d)  Currency                                                     GBP - British pound
 e)  Price(s) and Volume(s)

                                                                  Price - 9.6 pence

                                                                  Volume - 636,540
 f)  Aggregated information                                       N/A

     -       Price

     -       Volume

     -       Total
 g)  Date of transaction                                          21 December 2023
 h)  Place of transaction                                         Off market

 

 

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