Abingdon Healt. Regulatory News (ABDX)

Grant of Options under SAYE Scheme

York, U.K. 23 April 2021:  Abingdon Health (AIM:ABDX) ("Abingdon" or "the Company"), a leading international developer and manufacturer of high quality and effective rapid tests, announces the grant of options to employees under the Abingdon Health plc 2021 Save-as-you-Earn Plan (the "2021 SAYE Scheme").

The 2021 SAYE Scheme is a three year scheme which enables employees to save between £5-£500 per month. Employees who participate in the 2021 SAYE Scheme ("SAYE Participants") are granted linked options ("SAYE Options") over Ordinary Shares which are exercisable at the end of the savings period.

At the end of the three year saving period the SAYE Participants can elect to either receive SAYE Options or request to be refunded the monies saved.

All employees of the Company (including executive directors) as at 6th April 2021 (the "Eligible Employees") have been invited to participate in the 2021 SAYE Scheme. SAYE Options have an exercise price of 70 pence per SAYE Option, which represents a 20% discount to the closing mid-market price of 87.5p per Ordinary Share on 22 March 2021, being the trading day before the invitation to Eligible Employees to participate was made.

Other than in the case of a takeover or similar event, SAYE Options will generally only be exercisable by the SAYE Option Holders within the 6 month period following the maturity of his or her related savings contract in April 2024. Any SAYE Options not so exercised within this period will lapse. 

A total of 67 Eligible Employees were granted SAYE Options, over a total of 626,057 Ordinary Shares (representing 0.65% of the Company's current issued share capital).

The following Persons Discharging Managerial Responsibility (PDMRs) have been granted SAYE Options:

PDMR Title Options granted

Chris Yates Chief Executive Officer 25,714

Melanie Ross Chief Financial Officer 25,714

Oliver Gardner Chief Operating Officer 25,714

Following the grant of the SAYE Options there will be outstanding options over 2,381,589 Ordinary Shares in aggregate, representing 2.5% of the Company's issued share capital.

Further details of the Company's Save-as-you-Earn scheme can be found in its admission document date 15 December 2020.

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About Abingdon Health

Abingdon Health is a world leading developer and manufacturer of high-quality rapid tests across all industry sectors, including healthcare and COVID-19. Abingdon is the partner of choice for a growing global customer base and takes projects from initial concept through to routine and large-scale manufacturing and has also developed and marketed its own labelled tests.

The Company offers product development, regulatory support, technology transfer and manufacturing services for customers looking to develop new assays or transfer existing laboratory-based assays to a lateral flow format. Abingdon Health aims to support the increase in need for rapid results across many industries and locations and produces lateral flow tests in areas such as infectious disease, clinical testing including companion diagnostics, animal health and environmental testing. Faster access to results allows for rapid decision making, targeted intervention and can support better outcomes. This ability has a significant role to play in improving life across the world. To support this aim Abingdon Health has also developed AppDx®, a customisable image capturing technology that transforms a smartphone into a self-sufficient, standalone lateral-flow reader.

Founded in 2008, Abingdon Health is headquartered in York, England.

https://www.abingdonhealth.com/