19 Dec 2019 14:03
Grant of options
Oxford, UK - 19 December 2019: Circassia Pharmaceuticals plc ("Circassia" or "the Company"; LSE: CIR), a specialty biopharmaceutical company focused on respiratory disease, announces that it has granted nil-cost options ("Options") today over 4,322,767 ordinary shares in the Company ("Ordinary Shares") to Ian Johnson, who was appointed as Executive Chairman of the Company on 5 December 2019, under the 2019 Performance Share Plan.
The Options have been granted at nil-cost and 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 share price reaching 62.4p, equating to three times the average closing price for an Ordinary Share for the 10 dealing days immediately preceding the grant date, for at least 30 consecutive dealing days or a liquidity event occurring above this level.
Should some or all of the Options be exercised, the Ordinary Shares will be purchased on the open market by The Circassia Pharmaceuticals plc Employee Benefit Trust on behalf of Mr Johnson.
Contacts
Circassia Steve Harris, Chief Executive Officer Julien Cotta, Chief Financial Officer Rob Budge, Corporate Communications
| Tel: +44 (0)1865 405560
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Peel Hunt (Nominated Adviser and Joint Broker) James Steel / Dr Christopher Golden
| Tel: +44 (0) 20 7418 8900
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finnCap (Joint Broker) Geoff Nash / Alice Lane | Tel: +44 (0) 20 7220 0500 |
Numis Securities (Joint Broker) James Black / Freddie Barnfield
| Tel: +44 (0) 20 7260 1000
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FTI Consulting Simon Conway / Ciara Martin | Tel: +44 (0) 20 3727 1000
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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 | Ian Johnson | ||||
2. | Reason for the notification | |||||
a. | Position/status | 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 | Circassia Pharmaceuticals 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 | ||||
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
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n/a
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e. | Date of the transaction | 19 December 2019 | ||||
f. | Place of the transaction | Outside a trading venue
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