24 Apr 2020 07:00
24 April 2020
Collagen Solutions Plc
(the "Company")
Director/PDMR Dealing
Collagen Solutions plc (AIM: COS), the developer and manufacturer of medical grade collagen components for use in regenerative medicine, medical devices and in-vitro diagnostics, announces that options ("Options") over 1,000,000 ordinary shares of 1 pence each in the capital of the Company ("Shares") were granted to each of Hilary Spence, Chief Financial Officer, and Lou Ruggero, Chief Business Officer (the "Participants") on 24 April 2020 at an exercise price of 3.85 pence per Share.
The Options were granted pursuant to the service agreements entered into between the Company and the Participants in which it was agreed that options over an aggregate of 4,000,000 Shares would be granted to each of them over a period of three years, conditional on continued employment with the Company. The Options granted on 24 April 2020 represent the final tranche of such committed option grants.
The Options, which have a life of 10 years, will vest in three equal tranches on the first, second and third anniversaries of each Participant's date of appointment. Such vesting will, however, normally be conditional on continued employment. In addition, the ability to exercise the vested Options will be dependent on achieving a closing middle market price per Share of 10 pence at any time after its date of grant and on delivering sustainable positive cash flows from operations for any period of six months.
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 | Hilary Spence |
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 | Collagen Solutions Plc |
b) | LEI | 213800IFY1CVGRGETL95 |
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 | Ordinary shares of 1p each ("Shares")
ISIN Code: GB00B94T6Y14 |
b) | Nature of the transaction | Grant of Option |
c) | Price(s) and volume(s) |
Price(s): Volume(s):
3.85 pence 1,000,000 |
| Aggregated information
- Aggregated volume
- Price |
N/A
N/A |
e) | Date of the transaction | 2020-04-24 |
f) | Place of the transaction | Outside a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Lou Ruggiero |
2 | Reason for the notification |
|
a) | Position/status | Chief Business Officer |
b) | Initial notification /Amendment | Initial Notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Collagen Solutions Plc |
b) | LEI | 213800IFY1CVGRGETL95 |
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 | Ordinary shares of 1p each ("Shares")
ISIN Code: GB00B94T6Y14 |
b) | Nature of the transaction | Grant of Option |
c) | Price(s) and volume(s) |
Price(s): Volume(s):
3.85 pence 1,000,000 |
| Aggregated information
- Aggregated volume
- Price |
N/A
N/A |
e) | Date of the transaction | 2020-04-24 |
f) | Place of the transaction | Outside a trading venue |
For further information please contact:
Collagen Solutions Plc |
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Jamal Rushdy, CEO / Hilary Spence, CFO | Via Walbrook | |||
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Cenkos Securities Plc (Nominated Adviser and Broker) | Tel: 0207 397 8900 | |||
Giles Balleny (Corporate Finance) |
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Stephen Keys |
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Walbrook PR Ltd | Tel: 020 7933 8780 or collagen@walbrookpr.com | |||
Anna Dunphy | Mob: 07876 741 001 | |||