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27 Sep 2013 07:00
27 September 2013
PuriCore plc
("PuriCore" or the "Company")
PuriCore Value Creation Plan Update
PuriCore (LSE: PURI), a global company focused on safely and effectively protecting people from the spread of infectious pathogens, today announces that on 26 September 2013, the Company awarded performance units in accordance with the PuriCore 2013 Value Creation Plan (VCP) to Executive Directors and other Persons Discharging Managerial Responsibility (PDMRs) listed below.
Full details of the VCP were set out in the Notice of Annual General Meeting (AGM) and Letter from the Chairman of the Remuneration Committee published on 24 May 2013. On 19 June 2013, the Company announced that following consultation with shareholders, two modifications were made to the VCP related to the calculation of the Base Price and the implementation of a cap on awards. The amended VCP was approved by PuriCore shareholders at the Company's AGM on 26 June 2013. These documents are all available on the Company's website, www.puricore.com.
Consistent with the VCP provisions, the following Executive Directors and PDMRs have been granted an award of performance units. Furthermore, a Base Price of 40.4p has now been calculated in accordance with the VCP. Performance units are not equity awards. Rather, they create the opportunity for future conditional share awards, the number of which, if any, would be calculated at the time of vesting based upon the achievement of performance criteria, including a minimum level of shareholder return, at the respective measurement dates. No payment has been made for the grant of these awards.
Name | Position | % share of performance units | Total number of performance units |
Michael Ashton | Executive Chairman | 30% | 300,000 |
Marella Thorell | Finance Director | 15% | 150,000 |
Tom Daniel | PDMR | 12% | 120,000 |
Geoff Koontz | PDMR | 12% | 120,000 |
Mark Sampson | PDMR | 12% | 120,000 |
Enquiries:
UK | US |
FTI Consulting | Sage Strategic Marketing |
Simon Conway | Jennifer Guinan |
Victoria Foster Mitchell | +1 610.410.8111 |
+44 (0) 20 7831 3113 | jennifer@sagestrat.com |
About PuriCore
PuriCore plc (LSE: PURI) is a global company focused on safely and effectively protecting people from the spread of infectious pathogens without causing harm to human health or the environment. PuriCore's antimicrobial technology and complementary products are used principally in well-established core businesses and emerging sectors of two broad markets: Health Sciences and Food & Agriculture. In the Health Sciences market, PuriCore is the leading full provider of all products and services required for a safe, efficient, and compliant endoscope decontamination to protect patients in UK hospitals. PuriCore's breakthrough wound therapy solution is used to treat chronic and acute wounds including diabetic ulcers and burns as well as atopic dermatitis as dermatologic treatment products. In the Food & Agriculture market, PuriCore's portfolio provide savings to supermarket retailers in labour costs and improvements in inventory loss as well as address the issue of cross contamination of fresh produce and floral products. In addition, the Company is progressing in its research and development programmes in the UK on the use of its technology as an agricultural fungicide. PuriCore is headquartered in Malvern, Pennsylvania, with operations in Stafford and Clevedon, UK. To receive additional information on PuriCore, visit www.puricore.com.
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