16 Dec 2013 16:52
16 December 2013
Plethora Solutions Holdings PLC
("Plethora" or the "Company")
Award of LTIPs
Plethora (AIM: PLE) announces that on 9 December 2013, it awarded new ordinary shares in relation to the Company's Long Term Incentive Plan ("LTIP") established in 2009.
Plethora made a nil cost award of 500,000 new ordinary shares to each of (i) Arc Portfolio Management Limited, a company in which Michael Collis is sole shareholder; and (ii) Regent Pacific Group Limited, a company in which James Mellon has an interest. The award is subject to the achievement of certain conditions which, if not met will result in the award lapsing.
-Ends-
Enquiries:
Plethora Solutions Mike Collis, CFO | Tel : +44(0) 20 3077 5400 |
Daniel Stewart (Nomad & Joint Broker) David Hart / Ciaran Walsh (Nomad) Martin Lampshire (Broker) | Tel : +44(0) 20 7776 6550
|
Hybridan LLP (Joint Broker) Claire Louise Noyce William Lynne | Tel: +44(0) 20 7947 4350 Tel: +44(0) 20 7947 4361 |
Britton Financial PR Tim Blackstone | Tel: + 44 (0) 20 7242 9786 Tel: +44 (0) 7957 140416 |
About Plethora:
Plethora is headquartered in the UK and is listed on the London Stock Exchange (AIM: PLE.L). Further information is available at www.plethorasolutions.co.uk
Plethora is focussed on seeking to launchPSD502 for the treatment of premature ejaculation.
About PSD502 & Premature Ejaculation:
PSD502 is a topical spray for the treatment of premature ejaculation containing lidocaine and prilocaine in a eutectic-like mixture. The product has completed all clinical testing and has been submitted for approval in Europe with the EMA. The Company anticipates launch in 2014.
Premature ejaculation is possibly the most common form of sexual dysfunction in men. Epidemiological studies conducted in the US and in Europe indicate a prevalence of 20 - 30% in men of all ages. There is currently no globally approved and effective pharmaceutical treatment for this condition.
In the absence of any widely approved pharmaceutical therapy with good patient acceptance, the premature ejaculation market offers significant potential for development and growth. An effective drug therapy for premature ejaculation may have a comparable commercial potential to the erectile dysfunction drugs.