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9 Jun 2016 13:17
Mereo BioPharma Group plc
Grant of Options
Mereo BioPharma Group plc ("Mereo" or the "Company") (AIM: MPH), a UK-based specialty biopharmaceutical company, today announces that it has granted nil-cost options over a total of 695,700 ordinary shares of £0.003 each in the capital of the Company ("Ordinary Shares") under the Long Term Incentive Plan (the "Options"). The Options have been granted to certain directors of the Company as follows:
Name | No. of Options granted |
Denise Scots-Knight (Chief Executive Officer) | 461,538 |
Richard Bungay (Chief Financial Officer and Chief Operating Officer) | 234,162 |
These Options form the respective director's long-term incentive component of their remuneration for the 2016 financial year.
The vesting of the Options is conditional on the continued employment of the option holder as well as the satisfaction of the following performance conditions:
1. 75% of the Options will be subject to a number of share price growth targets, measured over three to five years; and
2. 25% of the Options will be subject to strategic targets, measured over five years.
The Options will vest to the extent the performance conditions have been satisfied, after which they will normally be exercisable for a period of one year.
Enquiries:
Mereo BioPharma Group plc | +44 (0)333 023 7319 |
Denise Scots-Knight, Chief Executive Officer | |
Richard Bungay, Chief Financial Officer & COO | |
Cantor Fitzgerald Europe (Nominated Adviser and Broker) | +44 (0)20 7894 7000 |
Phil Davies | |
Will Goode | |
Rick Thompson | |
Callum Butterfield | |
RBC Capital Markets (Joint Broker) | +44 (0)20 7653 4000 |
Paul Tomasic | |
Rupert Walford | |
Thomas Stockman | |
Laura White | |
FTI Consulting (Public Relations Adviser) | +44 (0)20 3727 1000 |
Ben Atwell | |
Simon Conway | |
Brett Pollard |
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