14 Aug 2020 07:00
Grant of options
Oxford, UK - 14 August 2020: Circassia Group plc ("Circassia" or "the Company"; LSE: CIR), a specialty medical device company focused on respiratory disease, announces that it has today granted 2,479,339 nominal cost options ("Options") over new ordinary shares of 0.08 pence each in the Company ("Ordinary Shares") to Jonathan Emms, Chief Operating Officer of the Company, under the 2019 Performance Share Plan.
Jonathan Emms has, at the same time, forfeited his interest in 1,630,435 nominal cost options granted to him in 2019. These options had vesting criteria which were in part associated with the Company's structure prior to the completion of the transaction to transfer the U.S. commercial rights to Tudorza and Duaklir to AstraZeneca, and their cancellation and replacement permits Mr Emms' equity incentive to be more closely aligned with that of the other members of the executive management team.
The Options will vest on the third anniversary of the date of grant and are exercisable until the tenth anniversary of the date of grant. Vesting is subject to either the price of an Ordinary Share reaching a specific price for at least 30 consecutive dealing days or a liquidity event occurring above the specified level. 33% vesting will occur at a level of 40p, 66% vesting at a level of 50p and full vesting at a level of 60p.
Contacts
Circassia Ian Johnson, Executive Chairman Michael Roller, Chief Financial Officer | c/o Peel Hunt
|
Peel Hunt (Nominated Adviser and Joint Broker) James Steel / Oliver Jackson
| Tel: +44 (0) 20 7418 8900 |
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 | Jonathan Emms | ||||
2. | Reason for the notification | |||||
a. | Position/status | Chief Operating Officer | ||||
b. | Initial notification /Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a. | Name | Circassia Group plc | ||||
b. | LEI | 2138006YAT138TOGA556 | ||||
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 Identification code | Options over Ordinary shares of 0.08p each.
GB00BJVD3B28 ISIN for the Ordinary shares | ||||
b. | Nature of the transaction | Award of share options granted under the 2019 Performance Share Plan over Ordinary Shares in Circassia
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c. | Price(s) and volume(s) |
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d. | Aggregated information · Aggregated volume · Price
| n/a
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e. | Date of the transaction | 2020-08-14 | ||||
f. | Place of the transaction | Outside a trading venue
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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 Identification code | Options over Ordinary shares of 0.08p each.
GB00BJVD3B28 ISIN for the Ordinary shares | ||||
b. | Nature of the transaction | Forfeit of share options granted under the 2019 Performance Share Plan over Ordinary Shares in Circassia
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c. | Price(s) and volume(s) |
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d. | Aggregated information · Aggregated volume · Price
| n/a
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e. | Date of the transaction | 2020-08-14 | ||||
f. | Place of the transaction | Outside a trading venue
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