Last checked at 26 Jan 2017 10:30
26 January 2017
WideCells Group PLC ('WideCells Group' or 'the Company')
Grant of Options
WideCells Group PLC, the healthcare services company focused on providing stem cell services and ground breaking insurance for stem cell treatment, announces that on 24 January 2017 the Company granted options ("Options") over 600,000 ordinary shares of 0.25 pence each in the capital of the Company ("Ordinary Shares") pursuant to the Company's EMI Share Option Plan, and 270,290 ordinary shares of 0.25 pence each in the capital of the Company ("Ordinary Shares") pursuant to the Company's 2017 Share Option Plan For Consultants And Non-Executive Directors. These Options were granted to Persons Discharging Managerial Responsibilities ("PDMRs") on behalf of the Company.
The 600,000 options for David Bridgland will vest as follows: 200,000 on 27 July 2017, 200,000 on 27 July 2018 and 200,000 on 27 July 2019 subject to continuous employment, except that they will vest automatically upon the sale of the Company. The 270,290 options for Marilyn Orcharton have been fully vested as a result of the successful IPO on 27 July 2016 and are subject to her remaining a non-executive director or consultant to WideCells Group. The Options are exercisable at 11 pence per Ordinary Share, with an expiry date for exercise of 27 July 2026.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
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)
| Names | 1. David Bridgland - Group CFO 2. Marilyn Orcharton - Non-Executive Director | ||||
2
| Reason for the notification | |||||
a)
| Position/status
| Directors of the Company | ||||
b)
| Initial notification /Amendment
| Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a)
| Name
| WideCells Group PLC | ||||
b)
| LEI | n/a | ||||
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
| The grant of Options on 24 January 2017 over Ordinary Shares | ||||
b) | Identification code
| GB00BD060S65 | ||||
c)
| Nature of the transaction
| Grant of Options over Ordinary Shares
| ||||
d)
| Price(s) and volume(s) |
| ||||
d)
| Aggregated information - Aggregated volume - Price |
870,290 11p | ||||
e)
| Date of the transaction | 24 January 2017 | ||||
f)
| Place of the transaction | Outside a trading venue | ||||
**ENDS**
For further information, please visit the Company's website www.widecellsgroup.com, follow us on Twitter @WideCells_Group or contact:
WideCells Group | CEO - João Andrade | Tel: +351 919 033 171 |
Vicarage Capital Ltd | Broker - Jeremy Woodgate & Rupert Williams | Tel: +44 (0) 20 3651 2912 |
Shard Capital Partners LLP | Broker - Damon Heath & Erik Woolgar | Tel: +44 (0) 207 186 9950 |
St Brides Partners Ltd | PR - Elisabeth Cowell & Charlotte Page | Tel: +44 (0) 20 7236 1177 |
Notes to Editors
WideCells Group PLC is building an integrated stem cell services company, focused on making stem cell treatments accessible and affordable. The Directors believe that the use of cord blood stem cells for transplant will drive one of the next important phases in medicine and is therefore developing market leading products in complementary, strategic areas which are designed to take advantage of substantial market opportunities in one of the fastest growing segments in the healthcare industry. With this in mind, it has created three divisions:
· CellPlan: the world's first stem cell healthcare insurance plan with financial cover for medical treatment, travel and accommodation expenses and concierge service to manage the treatment process
· WideCells: the Institute of Stem Cell Technology has been established and is based in the University of Manchester Innovation Center to focus on stem cell research and regenerative medicine. WideCells also has international cryogenics divisions specialising on stem cell storage.
· WideAcademy: developing an education and training division to promote awareness of the benefits of stem cell storage across the global general practice community.
The Group has built an experienced senior management team that has been integral to the development of its growth and business to date.
Stem Cell Fast Facts:
· Cord blood (which is taken from the umbilical cord) provides the most effective source of stem cells for families due to it being simple, safe and painless to collect relative to other sources of stem cells such as bone marrow - WideCells will focus on promoting the collection and storage of this.
· Since 2005, there has been a 300% increase in the number of illnesses that can be treated using stem cells
· 82 illnesses can currently be treated using stem cell procedures
· Despite initial storage often costing no more than a few £thousand, actual treatment can cost in the £hundreds of thousands
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR).