Director exercise of Options21 Oct 2021 00:04
18:03 RNS today
RNS Number : 7314P
Plant Health Care PLC
20 October 2021
The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
Plant Health Care plc
("Plant Health Care" or "the Company")
Exercise of Options, Issue of Equity, Director / PDMR Shareholding
and Total Voting Rights
Plant Health Care, a leading provider of novel patent-protected biological products to global agricultural markets, announce s that on 20 October 202 1 Christopher Richards, Chief Executive Officer, exercised options
As announced on 7 October 2020, the Company had awarded 3,250,000 Options to Christopher Richards with an exercise price of 1p per ordinary share in the Company (the ' Ordinary Shares ') under the Plan that vest upon the earlier of: (a) the date of a Change of Control; or (b) upon satisfaction of the Performance-Based Requirement. The Performance-Based Requirement i n respect of 70% of the O ptions (rounded to the nearest whole number) is that no O ption may be exercised until the date on which the arithmetic mean closing price of the Ordinary S hares over 30 consecutive trading dates after the date of grant has exceeded 15p per S hare . This criteria was achieved earlier this year and Dr Richards has now decided to exercise 2,275,000 Options.
Of the 2,275,000 Ordinary Shares to be issued (the ' New Ordinary Shares ') following the exercise of the Options, Christopher Richards has sold 879,042 Ordinary Shares at an aggregate price of GBP100,146.06, being enough Ordinary Shares to cover the exercise price and associated tax liabilities in respect of the Ordinary Shares issued. Following these transactions, Dr Richards is interested in 4,370,973 Ordinary Shares representing 1.43% 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 at 8.00 a.m. on 26 October 2021. The New Ordinary Shares will rank pari-passu with the Company's existing issued Ordinary Shares.
Total voting rights
Following Admission, the Company will have 304,662,482 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.