Last checked at 18 Dec 2020 17:21
Shield Therapeutics plc
("Shield" or the "Group" or the "Company")
Grant of share options to the Chief Executive Officer
London, UK, 18 December 2020: Shield Therapeutics plc (LSE: STX), a commercial stage, pharmaceutical company with a focus on addressing iron deficiency with its lead product Feraccru®/Accrufer® (ferric maltol), announces that on 18 December 2020 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").
In accordance with the requirements of the EU Market Abuse Regulations the following options have been granted to PDMRs:
Name | Option Plan | Number of Ordinary Shares under Option | Vesting Date |
Tim Watts PDMR and CEO | RPSP | 625,000 | Dependent on performance conditions outlined below vesting can occur up until 31 December 2021. |
These awards are subject to the following performance conditions:
1) 60% of the options granted (375,000) will vest if the Company's market capitalisation is at or above £175m for five (5) consecutive trading days at any time during 2021. The Company's current market capitalisation is c. £66.9m
2) The remaining 40% of the options granted (250,000) will vest if the Company's market value is at or above £300m for five (5) consecutive trading days at any time during 2021
Mr Watts currently holds 648,700 ordinary shares in the Company, representing 0.55% of the Company's issued share capital.
1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||
a) | Name | Tim Watts | ||||
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 Ordinary Shares
ISIN: GB00BYV81293 | ||||
b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Retention and Performance Share Plan. | ||||
c) | Price(s) and volumes(s) | 2020 RPSP Award
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d) | Aggregated information - Aggregate volume
- Price
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Awards granted over 625,000 shares in total
1.5p exercise price
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e) | Date of the transaction | 18 December 2020 | ||||
f) | Place of the transaction | Outside of trading venue | ||||
For further information please contact:
Shield Therapeutics plc | www.shieldtherapeutics.com |
Tim Watts, CEO | +44 (0)20 7186 8500 |
Lucy Huntington-Bailey, Company Secretary and General Counsel | +44 (0)19 1511 8500 |
Nominated Adviser and Joint Broker |
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Peel Hunt LLP |
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James Steel/Dr Christopher Golden | +44 (0)20 7418 8900 |
Joint Broker finnCap Ltd Geoff Nash/Matt Radley/Alice Lane |
+44 (0)20 7220 0500 |
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Financial PR & IR Advisor |
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Walbrook PR | +44 (0)20 7933 8780 or shield@walbrookpr.com |
Paul McManus/Lianne Cawthorne | +44 (0)7980 541 893 / +44 (0)7584 391 303 |
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About Shield Therapeutics plc
Shield is a de-risked, specialty pharmaceutical company focused on commercialising its lead product, Feraccru®/Accrufer®, a novel, stable, non-salt based oral therapy for adults with iron deficiency with or without anaemia. Feraccru®/Accrufer® has been approved for use in the United States, European Union, UK and Switzerland and has exclusive IP rights until the mid-2030s. Feraccru is commercialised in the UK and Europe by Norgine B.V. and the Company is currently in the process of selecting a commercialisation partner for the US market. Shield also has an exclusive licence agreement with Beijing Aosaikang Pharmaceutical Co., Ltd., for the development and commercialisation of Feraccru®/Accrufer® in China, Hong Kong, Macau and Taiwan.
For more information, please visit www.shieldtherapeutics.com. Follow Shield on Twitter @ShieldTx