30 Jul 2013 15:30
30 July 2013
e-Therapeutics plc ("e-Therapeutics" or the "Company")
Awards made under the e-Therapeutics Performance Share Plan 2013 (the "Performance Share Plan")
e-Therapeutics (AIM:ETX) announces that the following awards were made to Directors on 30 July 2013 under the Performance Share Plan approved by shareholders at the Company's AGM on 25 July 2013. All awards take the form of options to acquire at par value ordinary shares of 0.1p each.
Director | Basic Award | Supplementary Award | Total shares under option and the subject of awards after this grant (% of current issued share capital) | Ordinary shares held (% of current issued share capital) |
Stephen Self | 263,829 | 263,829 | 1,796,111 (0.68) | 273,577 (0.1) |
Daniel Elger | 269,503 | 269,503 | 1,401,697 (0.53) | 30,000 (0.01) |
In addition, basic awards over a total of 589,809 shares and supplementary awards over a total of 294,898 shares were made to other employees.
Vesting of all awards under the Performance Share Plan will be based on the extent to which the average closing price of the Company's ordinary shares during the 20 dealing days ending with the third anniversary of the awards or, in the event of an earlier change of control of the Company, the price offered by the party acquiring control of the Company (the "Test Price") exceeds the average closing price of the Company's ordinary shares during the 20 dealing days prior to the granting of the awards (the "Grant Price").
For basic awards, 25% of shares will vest if the Test Price exceeds the Grant Price by 25% (Test Price of 44.1 pence) and vesting will increase pro-rata up to 100% of the award where the Test Price exceeds the Grant Price by 100% or more (Test Price of 70.5 pence or more).
For supplementary awards, vesting will occur only if the Test Price exceeds the Grant Price by 150% or more (Test Price of at least 88.1 pence).
As at the date of the announcement, and including the above, there are outstanding options, awards and warrants over 7,947,944 shares, amounting to approximately 2.7% of the Company's current issued share capital.
Contacts:
e-Therapeutics plc
Daniel Elger
Tel: +44 (0) 79 0991 5068
www.etherapeutics.co.uk
Panmure Gordon (UK) Limited
Investment Banking: Fred Walsh / Grishma Patel
Corporate Broking: Hannah Woodley
Tel: +44 (0) 20 7886 2500
www.panmure.com
College Hill
Melanie Toyne Sewell / Stefanie Bacher / Rebecca Caygill / Donia Al Saffar
Tel: +44 (0) 20 7457 2020
Email: e-therapeutics@collegehill.com