Plant Health Care - Exercise of Options
08/03/2023 14:45
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230308:nRSH3363Sa&default-theme=true
RNS Number : 3363S Plant Health Care PLC 08 March 2023
Plant Health Care plc
("Plant Health Care" or "the Company")
Exercise of Options Director / PDMR Shareholding
Plant Health Care, a leading provider of novel patent-protected biological
products to global agricultural markets, announces that, on 7 March 2023, a
total of 3,547,070 new Ordinary Shares (the 'New Ordinary Shares') were issued
pursuant to the exercise of options by employees under the Company's US Sub
Plan of the 2017 Employee Share Option Plan (the 'Plan').
On 10 March 2022, the Company awarded 3,547,070 Options (the 'Options') to
employees with an exercise price of 1p per ordinary share in the Company (the
'Ordinary Shares'). Senior employees and Executive Directors were required to
accept these Options as a substitute for 50% of their annual cash bonus
opportunity for 2022. Under the Plan the Options vest, inter alia, on the
achievement of the performance targets during 2022 as set out in the table
below.
Goal Summary of targets
1 Financials Revenue of $ 10.6 million, gross margin of $6.7 million and LBITDA of $3.7
million.
2 Commercial Achieve on-ground sales targets in key markets.
3 Commercial Secure at least two significant new distribution agreements for Harpin or
PREtec in row crop markets
4. Commercial Step up engagement by newly appointed CEO with the investor community.
Following review by the Board of Plant Health Care, it has been determined
that the performance criteria were met in full. Subsequently, all option
holders have decided to exercise their Options in full prior to the IRS
requirement to exercise prior to 15 March 2023.
Of the Options exercised, Jeffrey Tweedy, Chief Executive Officer, and Jeffrey
Hovey, Chief Financial Officer, have each exercised 1,237,122 and 445,365
Options retrospectively. Mr Tweedy has sold 305,000 Ordinary Shares issued and
Mr Hovey has sold 107,000 Ordinary Shares issued to cover their taxes due.
Following these transactions, Jeffrey Tweedy is interested in 1,888,548
Ordinary Shares representing 0.61% of the issued share capital of the Company
and Jeffrey Hovey is interested in 990,061 Ordinary Shares representing 0.32%
of the issued share capital of the Company.
Application for admission of the New Ordinary Shares to trading on AIM
('Admission') has been made and dealings in the New Ordinary Shares are
expected to commence on or around 8.00 a.m. on 10 March 2023. The New Ordinary
Shares will rank pari-passu with the Company's existing issued Ordinary
Shares.
Total voting rights
Following the issue of the New Ordinary Shares, the Company has 310,484,552
Ordinary Shares in issue with no shares held in treasury. This is the total
number of voting rights in the Company and may be used by shareholders as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or change to their interest in, the
Company under the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules.
Enquiries
Plant Health Care plc +1 919 926 1600
Jeffrey Tweedy - Chief Executive Officer
Jeffrey Hovey - Chief Financial Officer
Cenkos Securities plc - Nomad and Joint Broker +44 (0)131 220 9771
Neil McDonald / Peter Lynch
SEC Newgate - Financial Communications +44 (0) 7540 10666
Robin Tozer / Richard Bicknell / George Esmond phc@secnewgate.co.uk
Company website: www.planthealthcare.com (http://www.planthealthcare.com)
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 Jeffrey Tweedy
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) Name Plant Health Care plc
b) LEI
213800KBQPJZ2FM8QH27
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 Ordinary Shares of 1p each
GB00B01JC540
Identification code
b) Nature of the transaction 1. Issue of Shares following exercise of options
2. Sale of Shares following exercise of options.
c) Price(s) and volume(s) Price(s) Volume(s)
1) £0.01 1) 1,237,122
2) £0.1105 2) 305,000
d) Aggregated information
- Aggregated volume
- Price N/A
e) Date of the transaction 1) 07.03.2023
2) 08.03.2023
f) Place of the transaction AIM, London Stock Exchange
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
1) 07.03.2023
2) 08.03.2023
f)
Place of the transaction
AIM, London Stock Exchange
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Jeffrey Hovey
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) Name Plant Health Care plc
b) LEI
213800KBQPJZ2FM8QH27
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 Ordinary Shares of 1p each
GB00B01JC540
Identification code
b) Nature of the transaction 1. Issue of Shares following exercise of options
2. Sale of Shares following exercise of options
c) Price(s) and volume(s) Price(s) Volume(s)
1) £0.01 1) 445,365
2) £0.1105 2) 107,000
d) Aggregated information
- Aggregated volume
- Price N/A
e) Date of the transaction 1) 07.03.2023
2) 08.03.2023
f) Place of the transaction AIM, London Stock Exchange
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
1) 07.03.2023
2) 08.03.2023
f)
Place of the transaction
AIM, London Stock Exchange
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END IOEBSGDXDSGDGXI