5 Oct 2020 07:00
Yourgene Health plc
("Yourgene" or the "Group" or the "Company")
Share Incentive Plan
Manchester, UK - 5 October 2020: Yourgene (AIM: YGEN), the international molecular diagnostics group, announces that it has established an HMRC approved Share Incentive Plan ("SIP Scheme") for all eligible UK employees.
The SIP Scheme is formed of Bonus Shares (known by HMRC as Free Shares), Partnership Shares and Matching Shares, details of which are set out below.
To launch the SIP Scheme, the Company provided funds to the Trustee of the SIP scheme, Link Market Services Trustees Limited. The Trustee has notified the Company that it has now purchased in aggregate 520,350 of the Company's ordinary shares at a price of 20 pence per share. These share purchases represent Bonus Shares which have been awarded to participating UK employees in line with HMRC and SIP rules, up to a maximum of £3,600 per participating employee, and will form part of the employee's remuneration package.
Going forward, employees have been offered the opportunity to purchase Partnership Shares on a monthly basis up to HMRC limits, currently up to £1,800 per person per year, and the Company will match-fund these purchases on a 1:1 ratio. All payroll-deducted purchase monies and matched Company funds will be transferred to the Trustee who will arrange the relevant future share purchases. Further information on SIP schemes can be found at the Gov.uk website at https://www.gov.uk/tax-employee-share-schemes/share-incentive-plans-sips .
The Company intends to broaden the SIP Scheme to international employees over time subject to local regulations. Further announcements will be made in due course.
Lyn Rees said: "We are pleased to be able to launch this SIP Scheme which aligns our internal team with our shareholders in the creation of further value."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Yourgene Health plc Lyn Rees, Chief Executive Officer | Tel: +44 (0)161 669 8122 investors@yourgene-health.com | ||
Barry Hextall, Chief Financial Officer |
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Joanne Cross, Director of Marketing |
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Cairn Financial Advisers LLP (NOMAD) | Tel: +44 (0)20 7213 0880 | ||
Liam Murray / James Caithie / Ludovico Lazzaretti |
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N+1 Singer (Joint Corporate Broker) | Tel: +44 (0)20 7496 3000 | ||
Aubrey Powell / Tom Salvesen / George Tzimas |
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Stifel Nicolaus Europe Limited (Joint Corporate Broker) | Tel: +44 (0)20 7710 7600 | ||
Nicholas Moore / Matthew Blawat / Ben Maddison |
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Walbrook PR Ltd (Media and Investor Relations) | Tel: +44 (0)20 7933 8780 or yourgene@walbrookpr.com | ||
Paul McManus / Lianne Cawthorne | Mob: 07980 541 893 / Mob: 07584 391 303 | ||
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About Yourgene Health plc
Yourgene is an international molecular diagnostics group which develops and commercialises genetic products and services. The group works in partnership with global leaders in DNA technology to advance diagnostic science.
Yourgene develops and commercialises simple and accurate molecular diagnostic solutions, for reproductive health and molecular genetics. The Group's products include non-invasive prenatal tests (NIPT) for Down's Syndrome and other genetic disorders, Cystic Fibrosis screening tests, invasive rapid aneuploidy tests, male infertility tests and genetic disease tests. Yourgene's commercial footprint is already established in the UK, Europe, the Middle East, Africa and Asia.
Our product development, research service and commercial capabilities extend across the lifecycle of genetic test development including regulatory submissions. Through our technical expertise and partnerships, Yourgene is also extending its genetic testing offering into oncology.
Yourgene is headquartered in Manchester, UK with offices in Taipei and Singapore, and is listed on the London Stock Exchange's AIM market under the ticker "YGEN". For more information, visit www.yourgene-health.com and follow us on twitter @Yourgene_Health.
Forward-Looking Statements
Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.