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Pin to quick picksProvexis Regulatory News (PXS)

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Grant of Share Options

Wed, 11th Sep 2019 16:02

RNS Number : 0256M
Provexis PLC
11 September 2019
 

 

 

11 September 2019

 

Provexis plc

 

("Provexis" or the "Company")

 

Grant of Share Options

 

 

Provexis, the business that develops, licenses and sells the proprietary, scientifically-proven Fruitflow® heart-health functional food ingredient, announces that it has today awarded a total of 62,500,000 options ('Options') over ordinary shares of 0.1 pence each in the Company ('Ordinary Shares') under the Provexis 2005 share option scheme to certain directors and scientific, sales and marketing consultants to the Company.

 

These Options will have an exercise price of 0.30 pence, being the closing mid-market price on 10 September 2019, and they are subject to performance criteria (including Ordinary Share price appreciation). The Options are exercisable, subject to vesting, between 1 April 2022 and 10 years from the date of grant.

 

A total of 58,000,000 Options have been awarded to the following directors:

 

Director

No. of options granted

Existing no. of

options

Total no. of options over Ordinary Shares ('Total Options')

Total Options as a percentage of the Company's issued share capital

 

Dawson Buck - Chairman

 

8,000,000

17,000,000

25,000,000

1.26

Ian Ford - CEO & CFO

 

25,000,000

25,000,000

50,000,000

2.52

Niamh O'Kennedy - CSO

 

25,000,000

13,000,000

38,000,000

1.92

 

Following the issue of the new Options, the total number of Ordinary Shares under option which could be issued if all of the performance criteria are met is 193,500,000 Ordinary Shares, representing 9.8 per cent. of the Company's issued share capital.

 

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them are set out below pursuant to the EU Market Abuse regulation.

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

a)

 

Name

Dawson Buck - Chairman

Ian Ford - CEO & CFO

Niamh O'Kennedy - CSO

2

 

Reason for the notification

a)

 

Position/status

 

See 1 a) above

b)

 

Initial notification /

Amendment

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

 

Name

 

PROVEXIS PLC

b)

 

LEI

 

21380042E3Y3N9VZ6N48

 

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 0.1p each

 

 

 

ISIN: GB00B0923P27

 

b)

 

Nature of the transaction

 

Grant of options over ordinary shares

c)

 

Price(s) and volume(s)

 

 

 

Director/PDMR

 Price(s)

Volume(s)

Dawson Buck - Chairman

0.30p per share

8,000,000

Ian Ford - CEO & CFO

 

0.30p per share

25,000,000

Niamh O'Kennedy - CSO

0.30p per share

25,000,000

 

 

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

Price(s)

Volume(s)

0.30p per share

58,000,000

 

e)

 

Date of the transaction

 

11 September 2019

f)

 

Place of the transaction

 

Outside a trading venue

 

 

 

For further information please contact:

 

Provexis plc

Dawson Buck, Chairman

Ian Ford, CEO & CFO

 

Tel: 07490 391888

enquiries@provexis.com

Allenby Capital Limited

Nick Naylor / Liz Kirchner

Tel: 020 3328 5656

 

 

 

Notes for editors

 

About Provexis plc

AIM-listed Provexis is focused on the development, licensing and sales of its proprietary, scientifically-proven Fruitflow® heart-health functional food ingredient.

 

Provexis was founded in 1999 and is headquartered in Reading, Berkshire.

 

Provexis shares are traded on the AIM market of the London Stock Exchange under the ticker symbol PXS.

 

For further information, please visit www.provexis.com and www.fruitflowplus.com.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
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