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Circassia Group Plc - Grant of options

RNS Number : 1128W
Circassia Group Plc
14 August 2020
 

Grant of options

Oxford, UK - 14 August 2020: Circassia Group plc ("Circassia" or "the Company"; LSE: CIR), a specialty medical device company focused on respiratory disease, announces that it has today granted 2,479,339 nominal cost options ("Options") over new ordinary shares of 0.08 pence each in the Company ("Ordinary Shares") to Jonathan Emms, Chief Operating Officer of the Company, under the 2019 Performance Share Plan.

Jonathan Emms has, at the same time, forfeited his interest in 1,630,435 nominal cost options granted to him in 2019.  These options had vesting criteria which were in part associated with the Company's structure prior to the completion of the transaction to transfer the U.S. commercial  rights to Tudorza and Duaklir to AstraZeneca, and their cancellation and replacement permits Mr Emms' equity incentive to be more closely aligned with that of the other members of the executive management team.

The Options will vest on the third anniversary of the date of grant and are exercisable until the tenth anniversary of the date of grant. Vesting is subject to either the price of an Ordinary Share reaching a specific price for at least 30 consecutive dealing days or a liquidity event occurring above the specified level.  33% vesting will occur at a level of 40p, 66% vesting at a level of 50p and full vesting at a level of 60p.

Contacts

 

Circassia

Ian Johnson, Executive Chairman

Michael Roller, Chief Financial Officer

c/o Peel Hunt

 

Peel Hunt (Nominated Adviser and Joint Broker)

James Steel / Oliver Jackson

 

Tel: +44 (0) 20 7418 8900

 

Notification and public disclosure of transactions by persons discharging

managerial responsibilities and persons closely associated with them

 

1.            

Details of the person discharging managerial responsibilities / person closely associated

a.            

Name

Jonathan Emms

2.            

Reason for the notification

a.            

Position/status

Chief Operating Officer

b.            

Initial notification

/Amendment

Initial notification

3.            

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.            

Name

Circassia Group plc

b.            

LEI

2138006YAT138TOGA556

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, type

of instrument

Identification code

Options over Ordinary shares of 0.08p each.

 

 

 

GB00BJVD3B28 ISIN for the Ordinary shares

b.            

Nature of the transaction

Award of share options granted under the 2019 Performance Share Plan over Ordinary Shares in Circassia

 

c.            

Price(s) and volume(s)

 

Price(s)

 

Volume(s)

Nil

2,479,339

 

d.            

Aggregated information

·      Aggregated volume

·      Price

 

n/a

 

 

e.            

Date of the transaction

2020-08-14

f.            

Place of the transaction

Outside a trading venue

 

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, type

of instrument

Identification code

Options over Ordinary shares of 0.08p each.

 

 

 

GB00BJVD3B28 ISIN for the Ordinary shares

b.            

Nature of the transaction

Forfeit of share options granted under the 2019 Performance Share Plan over Ordinary Shares in Circassia

 

c.            

Price(s) and volume(s)

 

Price(s)

 

Volume(s)

Nil

1,630,435

 

d.            

Aggregated information

·      Aggregated volume

·      Price

 

n/a

 

 

e.            

Date of the transaction

2020-08-14

f.            

Place of the transaction

Outside a trading venue

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Circassia Group PLC

Price: 21.65

Market: LSE
Market Cap: £86.02 m
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