Last checked at 11 Sep 2019 16:02
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)
|
| ||||||||||||
d)
| Aggregated information - Aggregated volume - Price
|
| ||||||||||||
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.