Grant of options

RNS Number : 3227P
Plant Health Care PLC
09 June 2020
 

9 June 2020

Plant Health Care plc

("Plant Health Care" or the "Company")

Grant of options

Plant Health Care®, a leading provider of novel patent-protected biological products to global agriculture markets, is pleased to announce changes to the long-term incentive package of key employees.

The Company's Remuneration Committee aims to incentivise and motivate key employees, to align interests with shareholders.  The Committee has reviewed existing long-term incentives and believes that they do not adequately achieve that aim.  The Committee has therefore decided that directors should be invited to surrender Options which have an exercise price of 20p or above per share and replace them with new options with an exercise price of 10p per share.  The new options are offered at the ratio of 80 shares in the Company under option for every 100 shares in the Company under option being surrendered. 

The Board has therefore agreed to accept the surrender of options over 7,695,733 ordinary shares of 1p in the Company (the "Existing Options") by certain directors, being Dr Christopher Richards, Chief Executive Officer, Dr Richard Webb, Non-executive Chairman, Jeffrey Hovey, Chief Financial Officer, and Jeffrey Tweedy, Chief Operating Officer.  These Existing Options, which have a weighted average exercise price of 29p, will be replaced by options over 6,156,586 ordinary shares of 1p (the "New Options"). The option grants have been made under the Plant Health Care plc 2017 Employee Share Option Plan and Plant Health Care plc 2017 Non-Employee Share Option Plan as appropriate.  The New Options have an exercise price of 10p per share and a 5-year life.

The table provides additional details:


Existing Options surrendered (number of shares in the Company under option)


New Options (number of shares in the Company under option)

Name of Director

2004 Share Option Scheme

2015 Employee Share Plan

2017 Employee Share Plan


2017 Employee/Non-Employee Share Plan (as appropriate)

Christopher Richards

-

-

3,363,777


2,691,022

Richard Webb

128,205

-

1,945,522


1,658,981

Jeffrey Hovey

-

295,646

733,224


823,096

Jeffrey Tweedy

-

-

1,229,359


983,487







Plant Health Care plc

Chris Richards - CEO

Jeffrey Hovey - Chief Financial Officer

 

 

+1 919 926 1600

 



 

Arden Partners plc - Nomad and Broker
John Llewellyn-Lloyd / Dan Gee-Summons

Company website: www.planthealthcare.com

 

 

 

+44 (0) 20 7614 5900

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

 

 

a)

Name

Dr Christopher Richards

 

 

2.

Reason for the Notification

 

 

a)

Position/status

Chief Executive Officer

 

 

b)

Initial notification/ Amendment

Initial notification

 

 

3.

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

 

 

a)

Name

Plant Health Care plc

 

 

b)

LEI

213800KBQPJZ2FM8QH27

 

 

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

Ordinary Shares of 1p each

 

 

Identification code

GB00B01JC540

 

 

b)

Nature of the transaction

Grant of options

 

 

c)

Price(s) and volume(s)

Price

Volume

 

 

10p

2,691,022

 

 

d)

Aggregated information:

· Aggregated volume

· Price

 

2,691,022

As above

 

 

e)

Date of the transaction

8 June 2020

 

 

f)

Place of the transaction

Outside a trading venue

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Dr Richard Webb

2.

Reason for the Notification

a)

Position/status

Non-executive Chairman

b)

Initial notification/ Amendment

Initial notification

3.

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

a)

Name

Plant Health Care plc

b)

LEI

213800KBQPJZ2FM8QH27

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

Ordinary Shares of 1p each

Identification code

GB00B01JC540

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price

Volume

10p

1,658,981

d)

Aggregated information:

· Aggregated volume

· Price

 

1,658,981

As above

e)

Date of the transaction

8 June 2020

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mr Jeffrey Hovey

2.

Reason for the Notification

a)

Position/status

Chief Financial Officer

b)

Initial notification/ Amendment

Initial notification

3.

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

a)

Name

Plant Health Care plc

b)

LEI

213800KBQPJZ2FM8QH27

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

Ordinary Shares of 1p each

Identification code

GB00B01JC540

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price

Volume

10p

823,096

d)

Aggregated information:

· Aggregated volume

· Price

 

823,096

As above

e)

Date of the transaction

8 June 2020

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mr Jeffrey Tweedy

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

Plant Health Care plc

b)

LEI

213800KBQPJZ2FM8QH27

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

Ordinary Shares of 1p each

Identification code

GB00B01JC540

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price

Volume

10p

983,487

d)

Aggregated information:

· Aggregated volume

· Price

 

983,487

As above

e)

Date of the transaction

8 June 2020

f)

Place of the transaction

Outside a trading venue

 


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END
 
 
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