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13 Dec 2017 07:01
Oxford BioDynamics Plc
("OBD" or the "Company" and, together with its subsidiaries, the "Group")
Exercise period extension of existing Share Options
13 December 2017, Oxford BioDynamics Plc ("OBD" or the "Company"), a biotechnology company focused on the discovery and development of epigenetic biomarkers based on regulatory genome architecture, for use within the pharmaceutical and biotechnology industry, announces an amendment to the exercise period for certain options over ordinary shares granted under its 2008 Share Option Scheme.
As disclosed in the Company's AIM Admission Document dated 1 December 2016 (Part 7, paragraph 10.3 and 10.4) ("Admission Document"), EMI ("EMI Options") and non-EMI ("Non-EMI Options") share options were granted to, amongst others, certain founders of the Company, being Christian Hoyer Millar (Chief Executive Officer and a Director), Dr. Alexandre Akoulitchev (Chief Scientific Officer and a Director) and Dr. Aroul Ramadass (Chief Technology Officer and a PDMR) on 16 July 2008 as well as to Alison Kibble (Non-Executive Director) on 31 October 2008, under the terms of the 2008 share option scheme ("2008 Plan"), as shown in the following table:
Optionholder | Date of Grant | EMI Options | Non-EMI Options | Total Options | Exercise Price (pence) |
Christian Hoyer Millar | 16 July 2008 | - | 1,730,742 | 1,730,742 | 34.0 |
Alexandre Akoulitchev | 16 July 2008 | 346,152 | 1,096,131 | 1,442,283 | 34.0 |
Aroul Ramadass | 16 July 2008 | 346,152 | 1,096,131 | 1,442,283 | 34.0 |
Alison Kibble | 31 October 2008 | - | 135,000 | 135,000 | 34.0 |
The Company also has in place the 2016 Share Option Plan ("2016 Plan"). No awards of options either under the 2016 Plan or otherwise have been made to any of the individuals listed above since the Company's Admission to trading on AIM on 6 December 2016. The Company confirmed its intention in the Admission Document that no new options would be granted under the 2008 Plan and any future options would be granted under the 2016 Plan and the Company re-affirms that intention.
In order to ensure the continued alignment of the interests of shareholders and the option holders, in light of the liquidity of the Company's shares, the independent directors of the Company have approved an extension of the exercise period of the Non-EMI Options. The Non-EMI Options were due to expire on 31 December 2017 unless exercised prior to that date but will now expire on 31 December 2022. All other terms and conditions relating to the Non-EMI Options, including the exercise price, remain unchanged. The exercise period of the EMI Options will not be amended.
The change to the expiry date of the Non-EMI Options is notifiable pursuant to the EU Market Abuse Regulation. Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the requirements of the EU Market Abuse Regulation can be found below:
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Christian Hoyer Millar | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Executive Officer/Director | ||||
b) | Initial notification/ Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Oxford BioDynamics Plc | ||||
b) | LEI | 2138005Y1TK258O5U928 | ||||
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 Identification code | Ordinary shares of 1 pence each
ISIN: GB00BD5H8572 | ||||
b) | Nature of the transaction | Extension of expiry date of grant of options over ordinary shares to 31 December 2022 | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price
| N/A | ||||
e) | Date of the transaction | 13 December 2017 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Dr Alexandre Akoulitchev | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Scientific Officer/Director | ||||
b) | Initial notification/ Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Oxford BioDynamics Plc | ||||
b) | LEI | 2138005Y1TK258O5U928 | ||||
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 Identification code | Ordinary shares of 1 pence each
ISIN: GB00BD5H8572 | ||||
b) | Nature of the transaction | Extension of expiry date of grant of options over ordinary shares to 31 December 2022 | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price
| N/A | ||||
e) | Date of the transaction | 13 December 2017 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Dr Aroul Ramadass | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Technology Officer/PDMR | ||||
b) | Initial notification/ Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Oxford BioDynamics Plc | ||||
b) | LEI | 2138005Y1TK258O5U928 | ||||
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 Identification code | Ordinary shares of 1 pence each
ISIN: GB00BD5H8572 | ||||
b) | Nature of the transaction | Extension of expiry date of grant of options over ordinary shares to 31 December 2022 | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price
| N/A | ||||
e) | Date of the transaction | 13 December 2017 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Alison Kibble | ||||
2 | Reason for the notification | |||||
a) | Position/status | Non-Executive Director | ||||
b) | Initial notification/ Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Oxford BioDynamics Plc | ||||
b) | LEI | 2138005Y1TK258O5U928 | ||||
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 Identification code | Ordinary shares of 1 pence each
ISIN: GB00BD5H8572 | ||||
b) | Nature of the transaction | Extension of expiry date of grant of options over ordinary shares to 31 December 2022 | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price
| N/A | ||||
e) | Date of the transaction | 13 December 2017 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
For further details contact:
Oxford BioDynamics Plc |
| +44 (0)1865 518910 |
Christian Hoyer Millar, CEO |
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Paul Stockdale, CFO |
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Stifel Nicolaus Europe Limited |
| +44 (0)20 7710 7600 |
Nominated Advisor and Broker |
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David Arch |
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Jonathan Senior |
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Peter Lees |
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Ben Maddison |
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Shore Capital |
| +44 (0)20 7408 4090 |
Joint Broker |
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Stephane Auton |
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Edward Mansfield |
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FTI Consulting |
| +44 (0)20 3727 1000 |
Financial Public Relations Advisor |
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Julia Phillips |
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Brett Pollard |
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Natalie Garland-Collins |
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Notes for Editors
About Oxford BioDynamics Plc
Oxford BioDynamics Plc (AIM: OBD) ("Oxford BioDynamics") is a revenue‐generating biotechnology company focused on the discovery and development of epigenetic biomarkers for use within the pharmaceutical and biotechnology industry.
The Company's award-winning, proprietary technology platform, EpiSwitch™, aims to accelerate the drug discovery and development process, improve the success rate of therapeutic product development and take advantage of the increasing importance of personalised medicine.
In particular, EpiSwitch™ can reduce time to market, failure rates and the costs at every stage of drug discovery. Additionally, the technology provides significant insights into disease mechanisms for drug discovery and product re‐positioning programmes, and enables the personalisation of therapeutics for patients in the context of challenging pricing environments where improved clinical outcomes are critical.
Oxford BioDynamics is headquartered in the UK, and listed on the London Stock Exchange's AIM under the ticker "OBD". For more information please visit www.oxfordbiodynamics.com.
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