Grant of Options and PDMR dealing

RNS Number : 4852C

Feedback PLC

23 February 2022

 

Feedback plc

Grant of Options and PDMR dealing

London, 23 February 2022 : Feedback plc (AIM: FDBK, "Feedback" or the "Company"), the specialist clinical communication company, announces that it has granted a total of 162,692,640 options to subscribe for new ordinary shares in the Company under the Company's Non-tax-advantaged and EMI Share Option Schemes (together, the "Options") to a certain number of its directors and employees, as detailed below.

The Options are being issued to support staff retention and to further align overall reward with increasing shareholder value.

All Options are exercisable at a price of 0.7 pence per share, reflecting the price at which the Company last completed an equity fundraise in November 2021 and representing a premium of 3 per cent to the closing share price on the last trading day before this announcement.

145,237,200 Options granted to the Executive Directors and other persons discharging managerial responsibilities ("PDMRs") below (being 89 percent. of Options granted) will vest in three equal tranches over the next three financial years, conditional on achieving certain share price targets (based on a 60 calendar day volume weighted average share price) as follows:

· One-third will vest if the share price reaches at least 1.20p, during the period commencing 31/05/2022 and ending 31/05/2025;

· One-third will vest if the share price reaches at least 1.86p during the period commencing 31/05/2023 and ending 31/05/2025; and

· One-third will vest if the share price reaches at least 3.0p during the period commencing 31/05/2024 and ending 31/05/2025.

Options being granted to the Executive Directors and PDMRs which are subject to the share price performance conditions above:

	Non tax-Advantaged Options	EMI Options	Total options held (including existing options)
Tom Oakley, CEO	83,846,520	-	106,677,349
Anesh Patel, CFO	17,624,520	35,714,160	53,338,680
Michael Hayball, CTO	-	2,013,000	9,213,000
Stephen Brown, Chief Regulatory & Compliance Officer	-	2,013,000	9,213,000
Stephen McAteer, COO	-	2,013,000	4,013,000
Nicolas Mayhew, Chief Sales & Marketing Officer	-	2,013,000	4,013,000

7,855,440   EMI Options (with time-based vesting conditions only) were awarded to 10 employees, with one-third vesting on each of the first, second and third anniversaries of grant.

In addition, Rory Shaw, Non-Executive Chairman, has been granted 9,600,000 Non tax-Advantaged Options (taking the total number of share options held by him to 17,400,000), primarily for retention purposes. Alongside the Executive management team, Rory has key relationships with NHS bodies and Community Diagnostic Centres (CDC), potential customers for the Company's product suite. These Options have time-based vesting conditions only and are not linked to share price performance conditions, with one-third vesting on each of the first, second and third anniversaries of grant.

The Options are exercisable for a period of 5 years from the vesting date.

The Options represent in aggregate 6.1% of the Company's existing issued share capital.

Following the grant of the Options and taking into account existing options, the Company has a total of 217,516,909 options to subscribe for ordinary shares in the Company in issue, representing 8.2% of the Company's issued share capital at the date of this announcement.

The FCA notifications, made in accordance with the requirements of the EU Market Abuse Regulation, are appended below.

Further information on Feedback and its products can be found on the Company's website: https://fbkmed.com/feedback-plc/reports-and-presentations/

-Ends-

Enquiries:

Feedback plc Tom Oakley, CEO Anesh Patel, CFO	[phone] [e-mail]
Panmure Gordon (UK) Limited (NOMAD and Broker) Emma Earl/Freddy Crossley (Corporate Finance) Rupert Dearden (Corporate Broking)	[phone]
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus/Nick Rome/Nicholas Johnson	07980 541 893 or 07748 325 236 or 07884 664 686

About Feedback

Feedback plc is a specialist clinical communications business, with a mission to improve the efficiency and quality of communications for frontline clinicians and hospitals with a key focus on building solutions that enhance access to high quality patient data.

Feedback has developed a toolkit of clinical communications apps. Its core, regulatory approved product is Bleepa, a revolutionary medical imaging app enabling remote and secure communications between frontline clinicians and teams. CareLocker is an evolutionary GDPR compliant patient-centric cloud architecture - its proprietary technology enables an easy route to creation and mobilisation of individual healthcare records. Bleepa Box is a specialist tool to enable image transfer from remote settings to the Bleepa platform over mobile networks.

The Company has a number of growth opportunities domestically and internationally across a range of markets including the NHS, the veterinary market and private healthcare providers and its highly scalable Software as a Service ("SaaS")-based revenue model is expected to provide increasing levels of visibility as the Company grows its customer base.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Rory Shaw
2	Reason for the notification
a)	Position/status	PDMR - Non-Executive Chairman
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Feedback plc
b)	LEI	213800UGOF2GT2U2RV90
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	Non-tax-advantaged Options to subscribe for Ordinary Shares of 0.25p each Identification code (ISIN) for Feedback plc ordinary shares: GB0003340550
b)	Nature of the transaction	Issue of options to subscribe for Ordinary Shares in consideration of payment of fees
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price of 0.7p 9,600,000 shares
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	23 February 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Tom Oakley
2	Reason for the notification
a)	Position/status	PDMR - Chief Executive Officer
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Feedback plc
b)	LEI	213800UGOF2GT2U2RV90
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	Non-tax-advantaged Options to subscribe for Ordinary Shares of 0.25p each Identification code (ISIN) for Feedback plc ordinary shares: GB0003340550
b)	Nature of the transaction	Issue of options to subscribe for Ordinary Shares in consideration of payment of fees
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price of 0.7p 83,846,520 shares
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	23 February 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Anesh Patel
2	Reason for the notification
a)	Position/status	PDMR - Chief Financial Officer
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Feedback plc
b)	LEI	213800UGOF2GT2U2RV90
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	Non-tax-advantaged Options and EMI Options to subscribe for Ordinary Shares of 0.25p each Identification code (ISIN) for Feedback plc ordinary shares: GB0003340550
b)	Nature of the transaction	Issue of options to subscribe for Ordinary Shares in consideration of payment of fees
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price of 0.7p 53,338,680 shares
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	23 February 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michael Hayball
2	Reason for the notification
a)	Position/status	PDMR - Director of Feedback Medical Limited
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Feedback plc
b)	LEI	213800UGOF2GT2U2RV90
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	EMI Options to subscribe for Ordinary Shares of 0.25p each Identification code (ISIN) for Feedback plc ordinary shares: GB0003340550
b)	Nature of the transaction	Issue of options to subscribe for Ordinary Shares in consideration of payment of fees
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price of 0.7p 2,013,000 shares
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	23 February 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stephen McAteer
2	Reason for the notification
a)	Position/status	PDMR - Director of Feedback Medical Limited
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Feedback plc
b)	LEI	213800UGOF2GT2U2RV90
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	EMI Options to subscribe for Ordinary Shares of 0.25p each Identification code (ISIN) for Feedback plc ordinary shares: GB0003340550
b)	Nature of the transaction	Issue of options to subscribe for Ordinary Shares in consideration of payment of fees
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price of 0.7p 2,013,000 shares
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	23 February 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Nicolas Mayhew
2	Reason for the notification
a)	Position/status	PDMR - Director of Feedback Medical Limited
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Feedback plc
b)	LEI	213800UGOF2GT2U2RV90
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	EMI Options to subscribe for Ordinary Shares of 0.25p each Identification code (ISIN) for Feedback plc ordinary shares: GB0003340550
b)	Nature of the transaction	Issue of options to subscribe for Ordinary Shares in consideration of payment of fees
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price of 0.7p 2,013,000 shares
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	23 February 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stephen Brown
2	Reason for the notification
a)	Position/status	PDMR - Director of Feedback Medical Limited
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Feedback plc
b)	LEI	213800UGOF2GT2U2RV90
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	EMI Options to subscribe for Ordinary Shares of 0.25p each Identification code (ISIN) for Feedback plc ordinary shares: GB0003340550
b)	Nature of the transaction	Issue of options to subscribe for Ordinary Shares in consideration of payment of fees
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price of 0.7p 2,013,000 shares
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	23 February 2022
f)	Place of the transaction	Outside a trading venue

 

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