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13 Jun 2018 09:00
13 June 2018
IXICO plc
("IXICO" or the "Company")
Implementation of Long Term Incentive Plan
IXICO plc (AIM: IXI), the digital technologies company serving neuroscience, announces the implementation of a new Long Term Incentive Plan ("LTIP"), approved by Shareholders on 29 May 2018, together with grants under the LTIP to Giulio Cerroni, Chief Executive Officer, Susan Lowther, Chief Financial Officer and John Hall SVP Corporate Development (together the "Executives").
The LTIP has been established to incentivise the Executives to deliver long-term value creation for shareholders and ensure alignment with shareholder interests. The Executives have been granted, in aggregate, 2,571,910 options (the "Award") as follows:
Executive | Number of options | Exercise price (£) |
Giulio Cerroni | 1,169,050 | 0.01 |
Susan Lowther | 935,240 | 0.01 |
John Hall | 467,620 | 0.01 |
The Award is subject to share price performance measured against the three month volume weighted average price of the Company's ordinary shares in the three months prior to the third anniversary from today, being the date of grant. 25 per cent. of the Award will vest if the share price increases by 50 per cent. above 28 pence, being the price of the placing of new ordinary shares announced in May 2018 ("Placing Price"), increasing on a straight line basis such that the full Award will vest if the share price increases by over 100 per cent. relative to the Placing Price (the "Performance Conditions").
The Performance Conditions are subject to a minimum floor price of 50p per Ordinary Share before any Award can vest. On vesting the Award is subject to a holding period of up to two years. The Award is also subject to continued employment, malus and clawback provisions.
For further information please contact:
IXICO plc Giulio Cerroni, Chief Executive Officer Susan Lowther, Chief Financial Officer |
Tel: +44 20 3763 7499 |
Shore Capital (Nomad and Broker) Edward Mansfield / Anita Ghanekar / Daniel Bush |
Tel: +44 20 7408 4090 |
FTI Consulting Limited (Investor Relations) Simon Conway/Mo Noonan |
Tel: +44 20 3727 1000 |
About IXICO
IXICO is the digital technologies company serving neuroscience. Our mission is to transform the pursuit of improving brain health through the application of digital technologies to neuroscience. IXICO's specialist data analytics services are used by the global pharmaceutical industry to select participants for clinical trials, assess the safety and efficacy of new drugs in development and in post marketing surveillance. Our neurological disease focus includes Alzheimer's disease, Huntington's disease, Multiple Sclerosis, Parkinson's disease and our integrated digital platform encompasses the entire drug development lifecycle. It is a scalable and secure infrastructure for the capture and analysis of regulatory compliant clinical data to enable sponsors to make rapid, better informed decisions. IXICO is also collaborating with partners to develop new companion digital health products targeted at improving patient outcomes.
More information is available on www.IXICO.com
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