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OKYO Pharma Limited - Grant of options – Director dealings

RNS Number : 7629W
OKYO Pharma Limited
21 August 2020
 

OKYO Pharma Limited

("OKYO" or the "Company")

 

Grant of options - Director dealings

 

London, 21 August, 2020 - OKYO Pharma Limited (LSE: OKYO) ("OKYO" or the "Company"),  the life sciences and biotechnology company, focused on the discovery and development of novel molecules to treat inflammatory dry eye diseases and chronic pain, is pleased to announce, announces that the board of directors of the Company (the "Board" or "Directors"), with Mr Brancaccio absenting himself on grounds of interest, has awarded the following options on 20 August 2020.

 

(a) Keeren Shah

 

Ms Shah has been awarded options to acquire 300,000 ordinary shares in the capital of the Company.  The options are exercisable at a price of 15.5 pence per share (being the mid-market closing price of the Company's shares traded on the LSE on 20 August 2020).  The options will vest in equal tranches over four years beginning on the date of grant.

 

(b) John Brancaccio

 

Mr Brancaccio has been awarded options to acquire 450,000 ordinary shares in the capital of the Company.  The options are exercisable at a price of 15.5 pence per share (being the mid-market closing price of the Company's shares traded on the LSE on 20 August 2020).  The options will vest in equal tranches over four years beginning on the date of grant, subject to attainment of the criteria set out below. Mr Brancaccio has no existing interests in ordinary shares in the capital of the Company.

 

The options would vest over 4 years and in tranches so that each tranche would vest on a standalone or aggregated basis should the total shareholder return in each financial year be equal to, or exceed, 10%, as reported in the annual report and accounts for the Company for the relevant financial year and the first measurement period being in respect of the financial year ended 31 March 2021, with the decision as whether vesting had occurred to be taken on the business day following the publication of the relevant financial results.

 

The criteria for vesting are designed to align with shareholder interests and only to vest if shareholders benefit from enhanced value creation. The criteria of total shareholder return has been used as a performance benchmark on the basis that it is a figure which is independently audited annually. 

 

This information set out below is provided in accordance with Article 19(3) of EU Regulation 596/2014. 

 

1.

Details of PDMR / person closely associated

a)

Name

(i)           Keeren Shah

(ii)          John Brancaccio

2.

Reason for the notification

a)

Position / status

(i)           Finance Director

(ii)          Non-Executive

b)

Initial notification /amendment

Initial notification

3.

Details of the issuer

a)

Name

OKYO Pharma Limited

b)

LEI

213800VVN5CB56Y15A05

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

Ordinary Shares of no par value

b)

Identification code of the Financial Instrument

ISIN for OKYO Pharma Limited: GG00BD3FV870

c)

Nature of the transaction

Grant of options

d)

Price(s) and volume(s)

Price

Volume

(i)   15.5p

 (i) 300,000

(ii)  15.5p

(ii) 450,000

 

f)

Date of the transaction

20 August 2020




g)

Place of the transaction

XLON  

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

OKYO Pharma Limited (LSE: OKYO) is a life sciences and biotechnology company admitted to listing on the standard segment of the Official List of the UK Financial Conduct Authority and to trading on the Main Market for listed securities of the London Stock Exchange plc. OKYO is focusing on the discovery and development of novel molecules to treat inflammatory dry eye diseases and chronic pain.

Enquiries:

OKYO Pharma Limited

Willy Simon

+44 (0)20 7495 2379

Optiva Securities Limited

Investors:

Robert Emmet

+ 44 (0)20 3981 4173

Dave Gentry

[email protected]

RedChip Companies Inc.

+1 407-491-4498

For further information, please visit the Company's website at www.okyopharma.com.

 


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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