14 Dec 2017 07:01
14th December, 2017
Byotrol plc
('Byotrol', the 'Group' or the 'Company')
KEY US HIRE
AND GRANT OF SHARE OPTIONS
Byotrol plc the AIM listed anti-microbial technology company, is pleased to announce the appointment of sales and marketing leadership for its wholly-owned US subsidiary Byotrol, Inc.
Alex Espalin has been advising Byotrol for twelve months on its commercialisation efforts in the US and has been key to getting the Company positioned to launch its US EPA-approved long-lasting surface care formulation. He has now joined the Company formally as VP Sales and Marketing, Byotrol Inc.
Alex brings to Byotrol broad marketing, branding, management and entrepreneurial expertise, gained over a twenty-year corporate and entrepreneurial career including roles at Coca-Cola, Disney and Kimberly-Clark, where he had oversight for multiple new product launches.
Alex earned his Bachelor of Science degree from Cornell University, an MBA from the University of Michigan and a Masters Degree in economic development from Harvard University
Alex Espalin has today been awarded 5 million share options in Byotrol plc at 4p, representing 1.24% of Byotrol plc fully diluted share capital. These options mature in dates varying up to 7 years from grant and will vest in three tranches when Byotrol Inc achieves a successful consumer product launch and/or certain US sales and profitability targets.
David Traynor, Chief Executive of Byotrol, said:
"We are delighted that Alex has joined the Company. He is entrepreneurial by nature, has excellent experience across B2B and B2C and we believe will be pivotal in building a business of quality for Byotrol in the US."
Enquiries:
Byotrol plc
David Traynor - Chief Executive 01925 742 000
finnCap
Geoff Nash/Kate Bannatyne - Corporate Finance 020 7220 0500
Stephen Norcross/Richard Chambers - Corporate Broking
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
Notes to Editors:
Byotrol plc (BYOT.L), quoted on AIM, is a leading anti-microbial technology company, operating globally in the Food, Industrial, Healthcare and Consumer sectors, providing low toxicity products with a broad-based and long-lasting efficacy across all microbial classes; bacteria, viruses, fungi, moulds, mycobacteria and algae.
Powerful, long-lasting and gentle, Byotrol's products can be used stand-alone or as ingredients within existing products, where Byotrol can significantly improve their performance, especially in personal hygiene, domestic and industrial disinfection, odour control, food production and food management.
Founded in 2005, the Company develops technologies that create easier, safer and cleaner lives for everyone.
For more information, please go to www.byotrol.co.uk
Accordingly, the Company makes the following announcement and notification in accordance with the EU Market Abuse Regulation (No 596/2014):
1. | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Alex Espalin |
2. | Reason for the Notification | |
a) | Position/status | PDMR |
b) | Initial notification/Amendment | Initial |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Byotrol Plc |
b) | LEI | 213800AJMTSTIPA59A34 |
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 of 0.25p each |
Identification code | GB00B0999995 | |
b) | Nature of the transaction | Award of Options to subscribe for Ordinary Shares |
c) | Price(s) and volume(s) | Volume - 5,000,000 Exercise Price - 4 pence |
d) | Aggregated information: | See 4c) above |
e) | Date of the transaction | 14 December 2017 |
f) | Place of the transaction | Outside of a trading venue |