Tissue Regenix Group Regulatory News (TRX)

Tissue Regenix Group Plc

("Tissue Regenix" or "the Company")

Deferred Annual Bonus Award

YORK, 20th May 2014 - Tissue Regenix Group plc (AIM:TRX) ("Tissue Regenix" or "the Group"), the regenerative medical devices company, today announces that an award has been made to Ian Jefferson, Chief Financial Officer, pursuant to the terms of the Group's Deferred Annual Bonus Plan, which was approved by the Remuneration Committee on 24 April 2014 and details of which are included in the Group's Annual Report published on 19 May 2014. Under the terms of the Deferred Annual Bonus Plan, directors and senior managers may waive up to 50% of their annual cash bonus and, in return, receive a share option over ordinary shares in the Group. By participating in the Deferred Annual Bonus Plan, directors and senior managers will also be entitled to receive a matching award of further ordinary shares in the Group at no additional cost.

Under the terms of the Deferred Annual Bonus Plan, Ian Jefferson waived his entitlement to receive 50% of his annual cash bonus in return for an option over 86,734 ordinary shares of 0.5p each in the Group (the "Deferred Allocation"). The number of shares comprising the Deferred Allocation (i.e. subject to option) was calculated by dividing the amount of cash bonus waived by the closing market value of the ordinary shares of the Company on the dealing day immediately prior to the date of grant of the award. The Deferred Allocation option is not capable of exercise until the vesting date has been reached, which is three years from the date of the award. By participating in the Deferred Annual Bonus plan, Ian Jefferson is entitled to receive a matching award at no additional cost (the "Matching Allocation"), being an option over 260,202 ordinary 0.5p shares in the Group. The Matching Allocation is not capable of exercise until the vesting date has been reached, which is three years from the date of award. Additionally, the Matching Allocation is not capable of exercise until the Group's share price has reached the following target prices and remained at those prices for at least 30 consecutive days:

Performance criteria

For Further Information

Tissue Regenix Group Plc: +44 19 0443 5176

Antony Odell

Ian Jefferson

Jefferies International Ltd: +44 20 7029 8000

Simon Hardy

Harry Nicholas

Newgate Communications: +44 207 680 6550

Andrew Jones

Stephanie Dobbs

About Tissue Regenix

Tissue Regenix is a leading medical devices company in the field of regenerative medicine. The company's patented decellularisation ('dCELL®') technology removes DNA and other cellular material from animal and human tissue leaving an acellular tissue scaffold which is not rejected by the patient's body which can then be used to repair diseased or worn out body parts. The potential applications of this process are diverse and address many critical clinical needs such as vascular disease, heart valve replacement and knee repair.

Tissue Regenix was formed in 2006 when it was spun-out from the University of Leeds. The company commercialises academic research conducted by our partners around the World.

In November 2012 Tissue Regenix Group plc set up a subsidiary company in the United States- 'Tissue Regenix Wound Care Inc.', as part of its commercialisation strategy for its dCELL® technology platform.