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Pin to quick picksAvacta Group Regulatory News (AVCT)

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Director/PDMR Shareholdings

7 Jan 2019 14:50

RNS Number : 4144M
Avacta Group PLC
07 January 2019
 

 

07 January 2019

Avacta Group plc

("Avacta" or "the Group" or "the Company")

 

Director/PDMR Shareholdings

 

Avacta Group plc (AIM: AVCT), the developer of Affimer® biotherapeutics and reagents, announces it has granted a total of 4,444,014 options over ordinary shares of 10p each ("Ordinary Shares") to various directors and employees of the Company (the "Options").

 

These Options were granted under the Company's Long Term Incentive Plan*, Avacta Group plc Executive Share Option Scheme** and in the case of the Chairman, Eliot Forster, an option appointment award***.

 

Of the Options awarded, 1,405,960 have been issued to certain directors of the Company as set out below:

 

 

Director

Position

Number of Options granted

Exercise Price

Total options held following the grant

Eliot Forster

Chairman

340,000

25p

340,000

Alastair Smith

CEO

696,000

25p

1,560,815

Tony Gardiner

CFO

369,960

25p

909,901

 

 

* The vesting conditions are split 50% based on share price performance and 50% based on the achievement of significant commercial and technical milestones.

 

** Part of the annual performance bonus awards. The Options are granted and fully vested, exercisable at 25p.

 

*** Upon the appointment of Eliot Forster as Non-executive Chairman, in June 2018, it was agreed to grant Eliot 340,000 options over Ordinary Shares at an exercise price of 25p which will vest in thirds over a three year period from June 2018.

 

Trevor Nicholls, Non-executive Director and Chair of the Remuneration Committee, said:

 

"Following the recent announcement of our Development Partnership with LG Chem Life Sciences, I am pleased to confirm that the Remuneration Committee has been able to conclude the changes to the equity arrangements of certain Directors and members of the Senior Management Team. These arrangements continue to align the interests of the Executive Directors and Senior Management Team with the longer-term interests of our shareholders through stretching targets on commercial and operational delivery combined with share price performance."

 

 

 

- Ends -

 

For further information from Avacta Group plc, please contact:

 

Avacta Group plc

Alastair Smith, Chief Executive Officer

Tony Gardiner, Chief Financial Officer

 

Tel: +44 (0) 844 414 0452

www.avacta.com

finnCap Ltd

Geoff Nash / Giles Rolls - Nominated Adviser

Tim Redfern / Sunila de Silva - ECM

 

WG Partners

Nigel Birks / Nigel Barnes

David Wilson / Claes Spang

 

Tel: +44 (0) 207 220 0500

www.finncap.com

 

 

Tel: +44 (0) 203 705 9318

Tel: +44 (0) 203 705 9217

www.wgpartners.co.uk

 

Turner Pope Investments

James Pope / Ben Turner

 

 

Zyme Communications (Trade and Regional Media)

Katie Odgaard

 

Yellow Jersey (Financial Media and IR)

Sarah Hollins

Harriet Jackson

Tel: +44 (0) 203 621 4120www.turnerpope.com

 

 

Tel: +44 (0)7787 502 947

www.zymecommunications.com

 

 

Tel: +44 (0)7764 947137

Tel: +44 (0)7544 275882

avacta@yellowjerseypr.com

 

 

About Avacta Group plc (www.avacta.com)

Avacta's principal focus is on its proprietary Affimer® technology which is a novel engineered alternative to antibodies that has wide application in Life Sciences for diagnostics, therapeutics and general research and development.

 

Antibodies dominate markets worth in excess of $100bn despite their shortcomings. Affimer® technology has been designed to address many of these negative performance issues, principally; the time taken to generate new antibodies, the reliance on an animal's immune response, poor specificity in many cases, and batch to batch variability. Affimer® technology is based on a small protein that can be quickly generated to bind with high specificity and affinity to a wide range of protein targets.

 

Avacta has a pre-clinical biotech development programme with an in-house focus on immuno-oncology as well as partnered development programmes. Avacta is commercialising non-therapeutic Affimer® reagents through licensing to developers of life sciences research tools and diagnostics.

 

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

 

 

 

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

Alastair Smith

2.

Reason for the Notification

a)

Position/status

Chief Executive Officer

b)

Initial notification/Amendment

Initial notification

3.

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

a)

Name

Avacta Group Plc

b)

LEI

2138009U3EG31OPMGH36

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

 

Options over Ordinary Shares

Identification code

GB00BYYW9G87

b)

Nature of the transaction

 

Grant of Options over Ordinary Shares

 

c)

Price(s) and volume(s)

LTIP

Exercise Price(s)

Volume(s)

25.0 pence

599,100

 

Executive Share Option Scheme

Exercise Price(s)

Volume(s)

25.0 pence

96,900

d)

Aggregated information:

· Aggregated volume

· Price

 

Grant of 696,000 options over Ordinary Shares at an exercise price of 25p

e)

Date of the transaction

07 January 2019

f)

Place of the transaction

Outside a trading venue

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Tony Gardiner

2.

Reason for the Notification

a)

Position/status

Chief Financial Officer

b)

Initial notification/Amendment

Initial notification

3.

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

a)

Name

Avacta Group Plc

b)

LEI

2138009U3EG31OPMGH36

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

 

Options over Ordinary Shares

Identification code

GB00BYYW9G87

b)

Nature of the transaction

 

Grant of Options over Ordinary Shares

 

c)

Price(s) and volume(s)

LTIP

Exercise Price(s)

Volume(s)

25.0 pence

313,000

 

Executive Share Option Scheme

Exercise Price(s)

Volume(s)

25.0 pence

56,960

d)

Aggregated information:

· Aggregated volume

· Price

 

Grant of 369,960 options over Ordinary Shares at an exercise price of 25p

e)

Date of the transaction

07 January 2019

f)

Place of the transaction

Outside a trading venue

 

 

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Eliot Forster

2.

Reason for the Notification

a)

Position/status

Non-executive Chairman

b)

Initial notification/Amendment

Initial notification

3.

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

a)

Name

Avacta Group Plc

b)

LEI

2138009U3EG31OPMGH36

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

 

Options over Ordinary Shares

Identification code

GB00BYYW9G87

b)

Nature of the transaction

 

Grant of 340,000 share options over Ordinary shares of 10p each.

 

c)

Price(s) and volume(s)

Exercise Price(s)

Volume(s)

25.0 pence

340,000

d)

Aggregated information:

· Aggregated volume

· Price

 

See above

e)

Date of the transaction

07 January 2019

f)

Place of the transaction

Outside a trading venue

 

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 rns@lseg.com or visit www.rns.com.
 
END
 
 
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