19 Sep 2023 07:00
Instem plc
("Instem" or "the Company")
Grant of PDMR Options
Instem plc (AIM: INS), a leading provider of IT solutions to the global life sciences market, announces that Phil Reason (Chief Executive Officer) and Nigel Goldsmith (Chief Financial Officer) have each been granted options over a total of 47,331 and 43,506 ordinary shares of 10 pence each ("Ordinary Shares") respectively (the "Awards"). The Awards are split as follows:
PDMR | Award | Strike Price | No. Awards |
Phil Reason | Annual Bonus Share Award* | Nil | 7,331 |
Phil Reason | 2023 LTIP Awards** | £6.25 | 40,000 |
47,331 | |||
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Nigel Goldsmith | Annual Bonus Share Award* | Nil | 3,506 |
Nigel Goldsmith | 2023 LTIP Awards** | £6.25 | 40,000 |
43,506 |
* Bonus Share Awards, granted in lieu of an annual cash bonus and carry no vesting criteria.**Annual awards granted under the Company's existing Long Term Incentive Plan ("LTIPs"). The LTIP Awards are 100% performance based and will vest equally over three years.
All Awards would vest upon a change of control.
After these grants of Awards, Mr Reason and Mr Goldsmith hold options over a total of 157,551 and 290,202 Ordinary Shares, respectively.
For further information, please contact:
Instem plc | Via Walbrook |
Phil Reason, CEO | |
Nigel Goldsmith, CFO | |
Singer Capital Markets (Nominated Adviser & Broker) | +44 (0) 20 7496 3000 |
Peter SteelAlex Bond Oliver Platts | |
Stifel Nicolaus Europe Limited (Joint Broker) | +44 (0) 20 7710 7600 |
Ben Maddison |
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Richard Short |
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Walbrook Financial PR | +44 (0) 20 7933 8780 |
Tom Cooper | instem@walbrookpr.com |
Nick Rome Joe Walker | |
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||||
a)
| Name
| Phil Reason | ||||||||
2 | Reason for the notification | |||||||||
a)
| Position/status | Chief Executive Officer | ||||||||
b)
| Initial notification /Amendment | Initial | ||||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||
a)
| Name
| Instem plc | ||||||||
b)
| LEI
| 213800PILYUFNNROQX68 | ||||||||
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 | 1. Grant of nil cost options in lieu of a cash bonus 2. Grant of options pursuant to the Company's 2023 LTIP | ||||||||
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Identification code | GB00B3TQCK30 | |||||||||
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b)
| Nature of the transaction | Grant of options
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c) | Price(s) and Volume(s) | 1.
2.
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d)
| Aggregated information |
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- Aggregated volume | N/A - Single transaction | |||||||||
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- Price |
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e)
| Date of the transaction | 15th September 2023 | ||||||||
f) | Place of the transaction | Off-market transaction | ||||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||||
a)
| Name
| Nigel Goldsmith | ||||||||
2 | Reason for the notification | |||||||||
a)
| Position/status | Chief Financial Officer | ||||||||
b)
| Initial notification /Amendment | Initial | ||||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||
a)
| Name
| Instem plc | ||||||||
b)
| LEI
| 213800PILYUFNNROQX68 | ||||||||
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 | 1. Grant of nil cost options in lieu of a cash bonus 2. Grant of options pursuant to the Company's 2023 LTIP | ||||||||
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Identification code | GB00B3TQCK30 | |||||||||
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b)
| Nature of the transaction | Grant of options
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c) | Price(s) and Volume(s) | 1.
2.
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d)
| Aggregated information |
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- Aggregated volume | N/A - Single transaction | |||||||||
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- Price |
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e)
| Date of the transaction | 15th September 2023 | ||||||||
f) | Place of the transaction | Off-market transaction | ||||||||
About Instem
Instem is a leading provider of IT solutions & services to the life sciences market delivering compelling solutions for Study Management, Regulatory Submissions, Clinical Trial Acceleration, and Informatics-based Insight Generation.
Instem solutions are in use by over 700 customers worldwide, including all of the largest 25 pharmaceutical companies, enabling clients to bring life enhancing products to market faster. Instem's portfolio of software solutions increases client productivity by automating study-related processes while offering the unique ability to generate new knowledge through the extraction and harmonisation of actionable scientific information.
Instem products and services address aspects of the entire drug development value chain, from discovery through to market launch. Management estimate that over 50% of all drugs on the market have been through some part of Instem's platform during their development.
To learn more about Instem solutions and its mission, please visit www.instem.com