22 Dec 2014 07:00
22 December 2014
Plethora Solutions Holdings PLC
("Plethora" or the "Company")Director/PDMR dealing
Plethora Solutions Holdings PLC (AIM: PLE) announces that it has approved amendments to the Company' Long Term Incentive Scheme (LTIP) to ensure key managers are appropriately remunerated and incentivised to enable the Company to achieve its strategic objectives. These arrangements will replace any previous entitlements in place in relation to the LTIP Scheme as they applied to these individuals.
All awards under the LTIP are subject to the Company securing certain specified achievement milestones. Under the criteria set, shares will only actually vest with the individuals upon a change of control event or if the individual ceases to be employed or engaged with the Company or Group under "good leaver" or acceptable circumstances.
Individual | Ordinary shares awarded under LTIP | Total shareholding following award under LTIP | Percentage holding on a fully diluted basis |
Jamie Gibson, CEO | 35,000,000 | 35,000,000 | 3.6% |
Jim Mellon,* Chairman | 1,000,000 | 146,812,298 | 15.2% |
Mike Collis,** CFO | 1,000,000 | 24,654,806 | 2.6% |
Dr Greg Bailey, Non Executive Director | 1,000,000 | 1,555,600 | 0.16% |
Romero Tayong, Company Secretary | 200,000 | 200,000 | - |
Notes
* the holdings of Jim Mellon include those directly beneficially owned by him together with those held by investment funds in which he has an indirect beneficial interest;
** the LTIP award has been granted to Mike Collis in his personal capacity as a director of the Company. Mike Collis is also engaged as a consultant by Maven Capital partners (UK) LLP which in turn is the appointed manager of Capital for Enterprise Fund A LLP, an investment fund which holds 23,654,806 Ordinary Shares in the Company.
As a result of these awards, the fully diluted share capital of the Company will increase to 971,090,768 Ordinary Shares.
Plethora Solutions Jamie Gibson, CEO Mike Wyllie, CSO Mike Collis, CFO
| Tel : +44(0) 20 3077 5400 |
finnCap (Nomad & Broker) Geoff Nash/James Thompson Stephen Norcross | Tel : +44(0) 20 7220 0500 (Corporate Finance) (Corporate Broking) |
Citigate Dewe Rogerson David Dible Malcolm Robertson |
Tel: +44(0) 20 7282 2949 Tel: +44(0) 20 7282 2867 |
About Plethora
Plethora is focused on commercialising FORTACIN™ for the treatment of premature ejaculation with strategic marketing partners and obtaining NDA approval for FORTACIN™ with the FDA.
Plethora is headquartered in the UK and is listed on the London Stock Exchange (AIM: PLE LN). Further information is available at www.plethorasolutions.co.uk