Last checked at 20 Oct 2021 18:03
The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
Plant Health Care plc
("Plant Health Care" or "the Company")
Exercise of Options, Issue of Equity, Director / PDMR Shareholding
and Total Voting Rights
Plant Health Care, a leading provider of novel patent-protected biological products to global agricultural markets, announces that on 20 October 2021 Christopher Richards, Chief Executive Officer, exercised options (the 'Options') awarded under the Company's 2017 Employee Share Option Plan (the 'Plan').
As announced on 7 October 2020, the Company had awarded 3,250,000 Options to Christopher Richards with an exercise price of 1p per ordinary share in the Company (the 'Ordinary Shares') under the Plan that vest upon the earlier of: (a) the date of a Change of Control; or (b) upon satisfaction of the Performance-Based Requirement. The Performance-Based Requirement in respect of 70% of the Options (rounded to the nearest whole number) is that no Option may be exercised until the date on which the arithmetic mean closing price of the Ordinary Shares over 30 consecutive trading dates after the date of grant has exceeded 15p per Share. This criteria was achieved earlier this year and Dr Richards has now decided to exercise 2,275,000 Options.
Of the 2,275,000 Ordinary Shares to be issued (the 'New Ordinary Shares') following the exercise of the Options, Christopher Richards has sold 879,042 Ordinary Shares at an aggregate price of £100,146.06, being enough Ordinary Shares to cover the exercise price and associated tax liabilities in respect of the Ordinary Shares issued. Following these transactions, Dr Richards is interested in 4,370,973 Ordinary Shares representing 1.43% of the issued share capital of the Company.
Application for admission of the New Ordinary Shares to trading on AIM ('Admission') has been made and dealings in the New Ordinary Shares are expected to commence at 8.00 a.m. on 26 October 2021. The New Ordinary Shares will rank pari-passu with the Company's existing issued Ordinary Shares.
Total voting rights
Following Admission, the Company will have 304,662,482 Ordinary Shares in issue with no shares held in treasury. This is the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Enquiries
Plant Health Care plc | +1 919 926 1600 |
Richard Webb - Chairman
| |
Arden Partners plc - Nomad and Joint Broker John Llewellyn-Lloyd / Antonio Bossi
| +44 (0)20 7614 5900 |
Cenkos Securities plc - Joint Broker Neil McDonald / Peter Lynch | +44 (0) 20 7391 8900 |
Company website: www.planthealthcare.com
The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||||
a) | Name | Dr Christopher Richards | ||||||||
2 | Reason for the notification | |||||||||
a) | Position/status | Chief Executive Officer | ||||||||
b) | Initial notification/Amendment | Initial notification | ||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||
a) | Name | Plant Health Care plc | ||||||||
b) | LEI |
213800KBQPJZ2FM8QH27
| ||||||||
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 | Options over Ordinary Shares of 1p eachGB00B01JC540 | ||||||||
b) | Nature of the transaction | Sale of Shares following exercise of options | ||||||||
c) | Price(s) and volume(s) |
| ||||||||
d) | Aggregated information
|
879,042 £100,146.06 | ||||||||
e) | Date of the transaction | 20.10. 2021 | ||||||||
f) | Place of the transaction | AIM, London Stock Exchange | ||||||||