REG - Provexis PLC - Grant of Share Options

ProvexisAnnouncement

11/09/2019 16:05

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.
 




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