REG - Ondine Biomedical - Grant of Share Options

Ondine BiomedicalAnnouncement

26/01/2024 07:00

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RNS Number : 9759A  Ondine Biomedical Inc.  26 January 2024

26 January 2024

ONDINE BIOMEDICAL INC.

("Ondine Biomedical", "Ondine" or the "Company")

Grant of Share Options

Canadian life sciences company, Ondine Biomedical Inc., (AIM: OBI) announces
that on 25 January 2024 ("Grant Date") it awarded a total of 11,950,000 stock
options ("Options") to subscribe for new common shares in the Company. This
strategic move aligns with the Company's Option Plan, emphasizing the
commitment to attracting, retaining, and inspiring key talent within its
workforce, including employees, directors, advisory board members, and key
consultants.

In the period since 30 June 2023, 4,355,000 options have naturally expired or
been forfeited. Following the above grant of Options, Ondine Biomedical now
has a total of 15,640,000 outstanding Options in issue, equivalent to 6.9% of
the Company's current issued share capital.

The distribution of Options to Persons Discharging Managerial Responsibilities
("PDMR") is as follows:

 PDMR              Position                 Options granted    Exercise price  Total options now held
 Carolyn Cross     Executive Director       2,000,000          9p              2,075,000
 Nicolas Loebel    Executive Director       3,500,000          9p              3,575,000
 Joseph P. Errico  Chief Financial Officer  3,000,000          9p              3,000,000
 Jean Charest      Chairman                       40,000       9p                 140,000
 Craig Tooman      Non-Executive Director         25,000       9p                 175,000
 Michael Farrar    Non-Executive Director         25,000       9p                 175,000
 Jean Duvall       Non-Executive Director         25,000       9p                   75,000
 Simon Sinclair    Chief Medical Officer        150,000        9p                 200,000
 Junaid Bajwa      Non-Executive Director         25,000       9p                   75,000

The Options have an exercise price of 9p, being the share price at which new
common shares were issued in connection with the Company's fundraising
announced on 30 November 2023. The Options vest evenly over a period of 3
years from the Grant Date, with a third vesting on each of the three
successive anniversaries of the Grant Date, and can be exercised for a period
of five years from the Grant Date.

The FCA notifications in respect of the above Option grants, made in
accordance with the requirements of the UK Market Abuse Regulation, are
appended below.

Enquiries:

 

 Ondine Biomedical Inc.
 Angelika Vance, Corporate Communications                     +001 (604) 838 2702

 Singer Capital Markets (Nominated Adviser and Joint Broker)
 Aubrey Powell, Asha Chotai, Sam Butcher                      +44 (0)20 7496 3000

 RBC Capital Markets (Joint Broker)
 Rupert Walford, Kathryn Deegan                               +44 (0)20 7653 4000

 Vane Percy & Roberts (Media Contact)
 Simon Vane Percy, Amanda Bernard                             +44 (0)77 1000 5910

 

About Ondine Biomedical Inc.

Ondine Biomedical Inc. is a Canadian life science company innovating in the
field of photodisinfection therapies. Ondine has a pipeline of investigational
products, based on its proprietary photodisinfection platform, in various
stages of development. Ondine's nasal photodisinfection technology is approved
in several jurisdictions under the brand name Steriwave®. It has been awarded
the CE mark and, in the US, has been granted Qualified Infectious Disease
Product designation and Fast Track status by the FDA. Products beyond nasal
photodisinfection include therapies for a variety of medical indications such
as chronic sinusitis, ventilator-associated pneumonia, burns, and other
indications.

 

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                                                         1.     Carolyn Cross

                                                                      2.     Nicolas Loebel

                                                                      3.     Joseph P. Errico

                                                                      4.     Jean Charest

                                                                      5.     Craig Tooman

                                                                      6.     Mike Farrar

                                                                      7.     Jean Duvall

                                                                      8.     Simon Sinclair

                                                                      9.     Junaid Bajwa
 2.      Reason for the Notification
 a)      Position/status                                              1.     CEO (PDMR)

                                                                      2.     President (PDMR)

                                                                      3.     CFO (PDMR)

                                                                      4.     Non-executive Chair (PDMR)

                                                                      5.     Non-executive Director (PDMR)

                                                                      6.     Non-executive Director (PDMR)

                                                                      7.     Non-executive Director (PDMR)

                                                                      8.     Chief Medical Officer (PDMR)

                                                                      9.     Non-executive Director (PDMR)
 b)      Initial notification/Amendment                               Initial notification
 3.      Details of the issuer, emission allowance market participant, auction
         platform, auctioneer or auction monitor
 a)      Name                                                         Ondine Biomedical Inc.
 b)      LEI                                                          9845005B69E07CGF4A56
 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 to subscribe for Common Shares

         Identification code                                          ISIN: CA68234M2058
 b)      Nature of the transaction                                    Grant of options to subscribe for common shares of no par value
 c)      Price(s) and volume(s)                                       PDMR            Price(s)                        Volume(s)
                                                                      Caroyn Cross    Exercise price of 9p per share   2,000,000
                                                                      Nicolas Loebel  Exercise price of 9p per share   3,500,000
                                                                      JP Errico       Exercise price of 9p per share   3,000,000
                                                                      Jean Charest    Exercise price of 9p per share        40,000
                                                                      Craig Tooman    Exercise price of 9p per share        25,000
                                                                      Michael Farrar  Exercise price of 9p per share        25,000
                                                                      Jean Duvall     Exercise price of 9p per share        25,000
                                                                      Simon Sinclair  Exercise price of 9p per share      150,000
                                                                      Junaid Bajwa    Exercise price of 9p per share        25,000
 d)      Aggregated information:                                      N/A

         ·Aggregated volume

         ·Price
 e)      Date of the transaction                                      25 January 2024
 f)      Place of the transaction                                     Outside a trading venue

d)

Aggregated information:

·Aggregated volume

·Price

N/A

 

e)

Date of the transaction

25 January 2024

f)

Place of the transaction

Outside a trading venue

 

 

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