Collagen Solutions plc (AIM: COS), the developer and manufacturer of biomaterials and regenerative medicines for the enhancement and extension of human life, announces that, on 2 October 2019, it granted awards ("Awards") over ordinary shares of 1 pence each in the share capital of the Company ("Shares") to the executive directors and other persons discharging managerial responsibility ("PDMRs") set out in the table below pursuant to the terms of its newly adopted deferred bonus plan (the "DBP").
The DBP enables the Company to deliver some or all of an executive's annual bonus entitlement in the form of a right to acquire Shares, the vesting of which is normally conditional on continued employment over a specified period. No additional performance conditions have to be satisfied in order for Awards to vest.
The Awards listed in the table below relate to the bonuses earned by the relevant individuals in respect of the Company's financial year that ended on 31 March 2019. The number of Shares over which they have been granted was calculated by reference to a price per Share of 5.0p (being the price payable by investors under the Company's fundraising that completed in June 2019).
Number of Shares over which Awards granted on 2 October 2019
Chief Executive Officer
Chief Business Officer
Chief Financial Officer
Chief Operating Officer
PDMR / VP Global R&D
PDMR / VP Tissue Products
1 This individual's Award has been granted as a "conditional share award" in terms of which the relevant Shares will automatically be released to him/her, for no consideration, on vesting.
2 This individual's Award has been structured as a "nil cost option" which has an exercise period of ten years from grant.
Each of the above Awards will normally vest on 9 July 2020 and it is anticipated that any Shares to which the individuals become entitled will be delivered by the Company's recently established employee benefit trust.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
Details of the person discharging managerial responsibilities/person closely associated
1. Jamal Rushdy
2. Lou Ruggiero
3. Hilary Spence
4. Tom Hyland
5. Chris Wattengel
6. Kevin Darling
Reason for the notification
1. Chief Executive Officer
2. Chief Business Officer
3. Chief Financial Officer
4. Chief Operating Officer
5. PDMR / VP Global R&D
6. PDMR / VP Tissue Products
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Collagen Solutions plc
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
Description of the financial instrument, type of instrument
Nature of thetransaction
Grant of awards over Shares pursuant to the Collagen Solutions plc Deferred Bonus Plan
Price(s) and volume(s)
- Aggregated volume
1. N/A single transaction
2. N/A single transaction
3. N/A single transaction
4. N/A single transaction
5. N/A single transaction
6. N/A single transaction
Date of the transaction
Place of the transaction
Outside a trading venue
Collagen Solutions Plc
Jamal Rushdy, CEO
Hilary Spence, CFO
Cenkos Securities Plc (Nominated Adviser and Broker)
Collagen Solutions Plc is a global supplier, developer, and manufacturer of medical grade collagen, tissues, and related medical devices and components for use in regenerative medicine, tissue engineering, and research. The Company is also expanding its range of biomaterials-based finished medical devices based on its internal and acquired intellectual property for commercialisation with partners via licensing and distribution arrangements, including ChondroMimetic®. The Company's products are used in a wide variety of applications including orthopaedics, cardiovascular, dental, plastic surgery, wound healing, neurology and urology.
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Collagen Solutions (LON: COS) CEO Jamal Rushdy joined Steve Darling from Proactive to discuss the company releasing their financial numbers that show impressive double-digit sales growth.
Rushdy talks about the numbers and also their tissue division that continues to be a revenue driver.