Grant of Share Options

Provexis

11/09/2019 16:02

RNS Number : 0256M

Provexis PLC

11 September 2019

 

 

 

11 September 2019

 

Provexis plc

 

("Provexis" or the "Company")

 

Grant of Share Options

 

 

Provexis, the business that develops, licenses and sells the proprietary, scientifically-proven Fruitflow® heart-health functional food ingredient, announces that it has today awarded a total of 62,500,000 options ('Options') over ordinary shares of 0.1 pence each in the Company ('Ordinary Shares') under the Provexis 2005 share option scheme to certain directors and scientific, sales and marketing consultants to the Company.

 

These Options will have an exercise price of 0.30 pence, being the closing mid-market price on 10 September 2019, and they are subject to performance criteria (including Ordinary Share price appreciation). The Options are exercisable, subject to vesting, between 1 April 2022 and 10 years from the date of grant.

 

A total of 58,000,000 Options have been awarded to the following directors:

 

Director
No. of options granted
Existing no. of
options
Total no. of options over Ordinary Shares ('Total Options')
Total Options as a percentage of the Company's issued share capital
Dawson Buck - Chairman
8,000,000
17,000,000
25,000,000
1.26
Ian Ford - CEO & CFO
25,000,000
25,000,000
50,000,000
2.52
Niamh O'Kennedy - CSO
25,000,000
13,000,000
38,000,000
1.92

 

Following the issue of the new Options, the total number of Ordinary Shares under option which could be issued if all of the performance criteria are met is 193,500,000 Ordinary Shares, representing 9.8 per cent. of the Company's issued share capital.

 

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them are set out below pursuant to the EU Market Abuse regulation.

 

1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Dawson Buck - Chairman
Ian Ford - CEO & CFO
Niamh O'Kennedy - CSO
2
Reason for the notification
a)
Position/status
See 1 a) above
b)
Initial notification /
Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
PROVEXIS PLC
b)
LEI
21380042E3Y3N9VZ6N48
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
Identification code
Ordinary Shares of 0.1p each
ISIN: GB00B0923P27
b)
Nature of the transaction
Grant of options over ordinary shares
c)
Price(s) and volume(s)
Director/PDMR
Price(s)
Volume(s)
Dawson Buck - Chairman
0.30p per share
8,000,000
Ian Ford - CEO & CFO
0.30p per share
25,000,000
Niamh O'Kennedy - CSO
0.30p per share
25,000,000
d)
Aggregated information
- Aggregated volume
- Price
Price(s)
Volume(s)
0.30p per share
58,000,000
e)
Date of the transaction
11 September 2019
f)
Place of the transaction
Outside a trading venue

 

 

 

For further information please contact:

 

Provexis plc
Dawson Buck, Chairman
Ian Ford, CEO & CFO
Tel: 07490 391888
enquiries@provexis.com
Allenby Capital Limited
Nick Naylor / Liz Kirchner
Tel: 020 3328 5656

 

 

Notes for editors

 

About Provexis plc

AIM-listed Provexis is focused on the development, licensing and sales of its proprietary, scientifically-proven Fruitflow® heart-health functional food ingredient.

 

Provexis was founded in 1999 and is headquartered in Reading, Berkshire.

 

Provexis shares are traded on the AIM market of the London Stock Exchange under the ticker symbol PXS.

 

For further information, please visit www.provexis.com and www.fruitflowplus.com.

 

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 or visit www.rns.com.

 

END

 

 

DSHEFLFFKKFBBBB