logo-loader
RNS
viewAllergy Therapeutics PLC

Allergy Therapeutics - Grant and Vesting of Awards

RNS Number : 4370I
Allergy Therapeutics PLC
01 April 2020
 

 

 

Allergy Therapeutics plc

("Allergy Therapeutics" or the "Group")

 

Grant and Vesting of Awards under Long Term Incentive Plan

 

Allergy Therapeutics (AIM:AGY), the fully integrated pharmaceutical company specialising in allergy vaccines, announces that,

 

1.    Grant of Award

 

Pursuant to the Company's Long Term Incentive Plan ("LTIP") the following conditional awards of shares of 0.1 pence each were made to Executive Directors at a nominal cost of 0.1 pence each on 27 March 2020 (the "Awards").

 

Executive Director

Number of Conditional shares awarded

Manuel Llobet

900,000

Nick Wykeman

450,000

 

 

The Awards have been granted in accordance with the LTIP rules and vesting is conditional on the satisfaction of performance conditions in respect of earnings growth and share price growth over three years.  

 

2.       Vesting of Award

 

Performance conditions attaching to provisional awards ("Awards") made pursuant to the Company's Long Term Incentive Plan ("LTIP") for the three years ended 30 June 2019, details of which were announced on 30 December 2016, have been met in part.

Consequently, on 27 March 2020, Allergy Therapeutics granted certain of its directors low cost options ("Options") over the Company's ordinary shares of 0.1 pence each ("Ordinary Shares") in replacement for the Awards made under the LTIP as follows:

 Director

Percentage of Award Vested

Total number of Ordinary Shares over which Options granted

Exercise Price

Manuel Llobet,

50%

845,000

0.1 pence

Nicolas Wykeman

50%

211,250

0.1 pence

 

In accordance with the rules of the LTIP, 50% of these Options are exercisable immediately and the remaining 50% are subject to a holding period of three years. The exercise period is ten years from date of grant.  

 

Following the above share transactions, the Executive Directors hold the following:

 

Director

Unvested LTIP Awards

Low cost Share Options

Interest in Ordinary Shares

Manuel Llobet

2,700,000

3,000,423

3,325,000

Nicolas Wykeman

1,350,000

211,250

300,000

 

 

 

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

 

 

Manuel Llobet

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Manuel Llobet - Chief Executive Office and PDMR

 

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

ALLERGY THERAPEUTICS PLC

b)

 

LEI

 

 

LEIR97215202003301009534776

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

 

 

 

 

Conditional award of shares and grant of share options under the Company's Long Term Incentive Plan

 

 

 

 

 

b)

Identification code

GB00B02LCQ05

c)

 

Nature of the transaction

 

 

Grant of Conditional Awards

d)

 

Price(s) and volume(s)

 

 

 

Award

Price(s)

 

Volume(s)

Conditional Shares

£0.001

900,000

Share options

£0.001

845,000




 

 

e)

 

Aggregated information  

 

  
 n/a

f)

 

Date of the transaction

  

27 March 2020

g)

 

Place of the transaction

 

 

Outside a trading venue

 

 

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

 

 

Nick Wykeman 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Nick Wykeman - Chief Financial Officer and PDMR

 

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

ALLERGY THERAPEUTICS PLC

b)

 

LEI

 

 

LEIR97215202003301009534776

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

 

 

 

 

Conditional award of shares and grant of share options under the Company's Long Term Incentive Plan

 

 

 

 

 

b)

Identification code

GB00B02LCQ05

c)

 

Nature of the transaction

 

 

Grant of Conditional Awards

d)

 

Price(s) and volume(s)

 

 

 

Award

Price(s)

 

Volume(s)

Conditional Shares

£0.001

450,000

Share options

£0.001

211,250




 

 

e)

 

Aggregated information  

 

  
 n/a

f)

 

Date of the transaction

  

27 March 2020

g)

 

Place of the transaction

 

 

Outside a trading venue

 

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").

 

For further information, please contact:

 

 

Allergy Therapeutics

+44 (0) 1903 845 820

Manuel Llobet, Chief Executive Officer

Nick Wykeman, Chief Financial Officer

 

Panmure Gordon

+44 (0) 20 7886 2500

Freddy Crossley, Emma Earl, Corporate Finance

Erik Anderson, Corporate Broking

 

Consilium Strategic Communications

+44 20 3709 5700

Mary-Jane Elliott / David Daley / Nicholas Brown / Olivia Manser

[email protected]

 

Stern Investor Relations, Inc.

+1 212 362 1200

Christina Tartaglia

[email protected]

 

 

Notes for editors:

 

About Allergy Therapeutics

 

Allergy Therapeutics is an international specialty pharmaceutical group focussed on the treatment and diagnosis of allergic disorders, including immunotherapy vaccines, that have the potential to cure disease. The Group sells proprietary and third party products from its subsidiaries in nine major European countries and via distribution agreements in an additional ten countries. Its broad pipeline of products in clinical development include vaccines for grass, tree and house dust mite, and peanut allergy vaccine in pre-clinical development. Adjuvant systems to boost performance of vaccines outside allergy are also in development.

 

Formed in 1999 out of Smith Kline Beecham, Allergy Therapeutics is headquartered in Worthing, UK with more than 11,000m2 of state-of-the-art MHRA-approved manufacturing facilities and laboratories.  The Group, which has achieved double digit compound annual growth since formation, employs c.600 employees and is listed on the London Stock Exchange (AIM:AGY). For more information, please see www.allergytherapeutics.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 [email protected] or visit www.rns.com.
 
END
 
 
DSHGZGGDZMDGGZM

Quick facts: Allergy Therapeutics PLC

Price: 14

Market: AIM
Market Cap: £89.22 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Allergy Therapeutics on track for phase III grass pollen trial in 2019

Manuel Llobet, chief executive of Allergy Therapeutics plc (LON:AGY), spoke to Proactive Investors after reporting  “extremely positive results” from the phase II trial of their grass pollen-induced hay fever immunotherapy. Llobet says PQ Grass met its primary endpoint, with those...

on 21/5/18