Last checked at 9 Aug 2022 16:45
Shield Therapeutics plc
("Shield" or the "Company" or the "Group")
Grant of share options
London, UK, 09 August 2022: Shield Therapeutics plc (LSE: STX), a commercial stage, pharmaceutical company with a focus on addressing iron deficiency with its lead product Accrufer®/Feraccru® (ferric maltol), announces that on 08 August 2022 it granted share awards in the form of options over ordinary shares in the capital of the Company ("Ordinary Shares") under Shield Therapeutics' Retention and Performance Share Plan ("RPSP") to the Group CEO and all employees.
"We are at an important time in the evolution of Shield. Our business in the US has progressed substantially with increasing prescriptions, expanded market access and growing awareness and recognition of the benefits of Accrufer® as a treatment for iron deficiency. Critical to our success is the continued outstanding commitment of our employees, led by our CEO. We want to align the objectives of this year with our annual equity grant process to further incentivise the team working on making Accrufer® the oral iron of choice and ensuring retention of our valued employees:" stated Hans Peter Hasler, Non-Executive Chairman of the Board of Shield.
The following options have been granted to Greg Madison, Chief Executive Officer, who is deemed a PDMR:
Name | Option Plan | Number of Ordinary Shares under Option | Vesting Date |
Greg Madison | RPSP | 2,596,058 | Three years from date of grant, subject to Mr Madison remaining in office as at the date of vesting. |
Greg Madison | RPSP | 2,596,058 | Twelve months from date of grant, subject to Mr Madison remaining in office as at the date of vesting. |
The proportion of total option awards to Greg Madison is approximately 26% of the total options granted at this time. Greg Madison does not currently hold any ordinary shares in the Company.
1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||
a) | Name | Greg Madison | ||||
2. | Reason for the notification | |||||
a) | Position/status | Chief Executive Officer
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b) | Initial notification/ amendment | Initial Notification | ||||
3. | Details of the Issuer | |||||
a) | Name | Shield Therapeutics plc | ||||
b) | LEI code | 213800G74QWY15FC3W71 | ||||
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
Identification code | Options over new Ordinary Shares
ISIN: GB00BYV81293 | ||||
b) | Nature of the transaction | Grant of awards over new Ordinary Shares under the Company's Retention and Performance Share Plan. | ||||
c) | Price(s) and volumes(s) | 2022 RPSP Award
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d) | Aggregated information - Aggregate volume
- Price
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Awards granted over 5,192,116 shares in total
7.2p exercise price
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e) | Date of the transaction | 08 August 2022 | ||||
f) | Place of the transaction | Outside of trading venue | ||||
For further information please contact:
Shield Therapeutics plc | www.shieldtherapeutics.com |
Greg Madison, CEO | +44 (0) 191 511 8500 |
Hans-Peter Rudolf, CFO |
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Nominated Adviser and Joint Broker |
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Peel Hunt LLP |
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James Steel/Christopher Golden | +44 (0)20 7418 8900 |
Joint Broker finnCap Ltd Geoff Nash/ George Dollemore/Alice Lane/Nigel Birks |
+44 (0)20 7220 0500 |
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Financial PR & IR Advisor |
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Walbrook PR |
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Lianne Applegarth/Alice Woodings | +44 (0)20 7933 8780 or shield@walbrookpr.com |
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Investor Contact (US Advisor) LifeSci Advisors, LLC John Mullaly |
+1 617 429 3548 or jmullaly@lifesciadvisors.com |
About Accrufer®/Feraccru®
Accrufer®/Feraccru® (ferric maltol) is a novel, stable, non-salt based oral therapy for adults with iron deficiency, with or without anemia. Accrufer®/Feraccru® has a novel mechanism of absorption compared to other oral iron therapies and has been shown to be an efficacious and well-tolerated therapy in a range of clinical trials. More information about Accrufer®/Feraccru®, including the product label, can be found at: www.accrufer.com and www.feraccru.com
About Shield Therapeutics plc
Shield is a commercial stage specialty pharmaceutical company with a focus on addressing iron deficiency with its lead product Accrufer®/Feraccru® (ferric maltol). The Group has launched Accrufer® in the US and Feraccru® is commercialized in the UK and European Union by Norgine B.V., who also have the marketing rights in Australia and New Zealand. Shield also has an exclusive license agreement with Beijing Aosaikang Pharmaceutical Co., Ltd., for the development and commercialization of Accrufer® / Feraccru® in China, Hong Kong, Macau and Taiwan, with Korea Pharma Co., Ltd. in the Republic of Korea, and with KYE Pharmaceuticals Inc. in Canada.
Accrufer®/Feraccru® has patent coverage until the mid-2030s
Accrufer®/Feraccru® are registered trademarks of the Shield Group