Last checked at 1 Apr 2020 13:09
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)
|
| ||||||||||||
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)
|
| ||||||||||||
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
allergytherapeutics@consilium-comms.com
Stern Investor Relations, Inc.
+1 212 362 1200
Christina Tartaglia
christina@sternir.com
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.