REG - RUA Life Sciences - Grant of Share Options

Rua Life SciencesAnnouncement

13/12/2022 15:45

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RNS Number : 5868J  RUA Life Sciences PLC  13 December 2022

13 December 2022

 

RUA Life Sciences Plc

("RUA Life Sciences", the "Company" or the "Group")

Grant of EMI Share Options

 

RUA Life Sciences, the holding company of a group of medical device businesses
focused on the exploitation of the patented long-term implantable biostable
polymer, Elast-Eon(TM), announces that it has granted, in aggregate,
240,000 share options over ordinary shares of £0.05 ("Ordinary Shares")
(the "Options") to executive Directors of the Group, as detailed below.

 

120,000 Options have been awarded to each of Lachlan Smith, Chief Financial
Officer, and Iain Anthony, Director of Clinical and Regulatory Affairs and a
board director of the Company. The Options are issued under the Company's EMI
Share Option Plan as summarised in Part IV of the Company's circular dated 22
May 2018 and approved by shareholders at the Company's general meeting on 8
June 2018 (the "Scheme").

 

The exercise price of the Options is 44.5 pence per share, representing the
closing mid-market price per Ordinary Share on the day preceding the release
of this announcement.

 

The key vesting terms are that the options may not be exercised before the
third anniversary of grant. In addition, performance conditions apply such
that 50% of the Options may only be exercised if the Company has received
regulatory approval for at least one medical device and the company continues
to exploit one such device. The performance condition for the balance of the
Options is based on total shareholder return with full vesting achieved at 50%
annualised return and a minimum of the median performance of the constituents
of the FTSE AIM index.  If the Option holder ceases to be a director or
employee of the Company as appropriate after the relevant vesting date, the
Options lapse 90 days after cessation unless the Board resolves to allow
exercise within that period.

 

Including the new 240,000 Options, the Company has outstanding awards over
2,280,603 Ordinary Shares, representing approximately 10.3% of the Company's
current issued share capital.

 

 

For further information contact:

 

RUA Life Sciences

Bill Brown,
Chairman
Tel: +44 (0)1294 317073

Caroline Stretton, Group Managing
Director                                Tel:
+44 (0)1294 317073

 

Cenkos Securities plc  (Nominated Adviser and Broker)
Tel: +44 (0)20 7397 8900

Giles Balleny / Max Gould (Corporate Finance)

Michael Johnson (Sales)

 

About RUA Life Sciences

The RUA Life Sciences group was created in April 2020 when RUA Life
Sciences Plc (formerly known as AorTech International Plc) acquired RUA
Medical Devices Limited to create a fully formed medical device
business. RUA Life Sciences is the holding company of the Group's four
trading businesses, each exploiting the Group's patented polymer technology.

 

 1.  Details of PDMR/person closely associated with them ('PCA')
 a)  Name                                     Lachlan Smith
 b)  Position/status                          CFO / PDMR
 c)  Initial notification/                    Initial notification

     amendment
 2.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                     RUA Life Sciences plc
 b)  LEI                                      213800BMVB22PVOJ9Z28
 3.  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 transaction(s) has been conducted
 a)  Description of the financial instrument  Ordinary shares of 5 pence each

                                              ISIN: GB0033360586

 b)  Nature of the transaction                Award of Options over Ordinary Shares.

 c)  Price(s) and volume(s)                                    Exercise Price(s)  Volume(s)
                                                               44.5p              120,000

 d)  Aggregated information                   N/A (single transaction)

     Aggregated volume Price
 e)  Date of the transaction                  13 December 2022
 f)  Place of the transaction                 UK

 

 

 1.  Details of PDMR/person closely associated with them ('PCA')
 a)  Name                                     Ian Anthony
 b)  Position/status                          Director of Clinical and Regulatory Affairs / PDMR
 c)  Initial notification/                    Initial notification

     amendment
 2.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                     RUA Life Sciences plc
 b)  LEI                                      213800BMVB22PVOJ9Z28
 3.  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 transaction(s) has been conducted
 a)  Description of the financial instrument  Ordinary shares of 5 pence each

                                              ISIN: GB0033360586

 b)  Nature of the transaction                Award of Options over Ordinary Shares.

 c)  Price(s) and volume(s)                                    Exercise Price(s)  Volume(s)
                                                               44.5p              120,000

 d)  Aggregated information                   N/A (single transaction)

     Aggregated volume Price
 e)  Date of the transaction                  13 December 2022
 f)  Place of the transaction                 UK

 

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