Director/PDMR Shareholding

RNS Number : 9204Y

PureTech Health PLC

20 May 2016

 

PureTech Health plc

Performance Share Plan

PureTech Health plc ("PureTech") announces that awards of restricted share units ("RSUs") were granted by PureTech to certain directors and other persons discharging managerial responsibilities ("PDMRs") pursuant to its Performance Share Plan ("PSP") on 20 May 2016. Each RSU entitles the holder to one ordinary share of par value one pence each in PureTech ("Ordinary Share") on vesting.  The RSUs were granted for nil consideration. Following vesting, each recipient will be required to make a payment of one pence per Ordinary Share on settlement of the RSUs.

The RSUs have been made to the directors and PDMRs in respect of a total of 2,592,863 Ordinary Shares (representing approximately 1.09 per cent. of the issued ordinary share capital of PureTech) as follows:

Director/PDMR	Number of Ordinary Shares in respect of RSUs granted on 20 May 2016	Percentage of issued ordinary share capital	Total maximum number of  Ordinary Shares subject to outstanding awards under the PSP following the  awards notified in this announcement	Percentage of issued ordinary share capital
Daphne Zohar	1,109,959	0.47	1,109,959	0.47
Stephen Muniz	370,726	0.16	370,726	0.16
Michael MacLean1	370,726	0.16	370,726	0.16
David Steinberg	370,726	0.16	370,726	0.16
Eric Elenko	370,726	0.16	370,726	0.16

Vesting of the RSUs is subject to the satisfaction of performance conditions. The number of Ordinary Shares stated in the table above is the maximum number that could be issued to each director or PDMR upon full satisfaction of the performance conditions attaching to the RSUs. 

The performance conditions attaching to the RSUs are based on the achievement of Total Shareholder Return targets (50 per cent. of the awards), Net Asset Value growth targets (25 per cent. of the awards) and targets based on strategic measures (25 per cent. of the awards), measured over the three year period to 31 December 2018 ("Performance Period"), as further described in the Directors' Remuneration Report of PureTech's 2015 Annual Report and Accounts. PureTech's Remuneration Policy and Annual Remuneration Report were recently approved by PureTech's shareholders at its Annual General Meeting held on 9 May 2016.

The awards will generally vest following the end of the Performance Period on determination of the extent to which the performance conditions have been satisfied. No award can vest before 1 January 2019. Any awards made will be subject to recovery and withholding provisions.

As of the date of this announcement, awards over a total of 3,504,353 Ordinary Shares (representing 1.47 per cent. of the issued ordinary share capital of PureTech) have been awarded and are outstanding to directors, PDMRs, and employees of and other service providers to PureTech pursuant to the PSP. PureTech currently has 237,387,951 Ordinary Shares in issue.

This announcement is made in accordance with Rule 3.1.4(1)(a) R of the Disclosure and Transparency Rules.

1.   Mr. MacLean also holds an option to purchase 159,344 Ordinary Shares pursuant to the PSP which was granted to him on 29 September 2015.

About PureTech Health

PureTech Health (PureTech Health plc, PRTC.L) is a cross-disciplinary healthcare company developing innovative products that could improve the lives of billions of patients. PureTech is focused on areas of growing scientific and technical insights that it believes are at an important inflection point, including the central nervous, gastro-intestinal and immune systems, and the interactions and signaling between them. PureTech has a pipeline of more than 30 programs and has approximately 20 clinical studies across its pipeline, targeting multi-billion dollar market opportunities. PureTech's advanced programs include five with human proof-of-concept and multiple with pivotal or registration study readouts in the next two years. PureTech has over 220 patents and patent applications. PureTech's leading team and board, along with an advisory network of more than 60 expert founder-scientists and advisors across multiple disciplines, gives PureTech access to potentially ground-breaking science and technological innovation. With healthcare undergoing major transformation, PureTech believes it is well positioned to develop and launch medicines for the 21st century. For more information, visit www.puretechhealth.com and connect with us on Twitter.

For more information, please contact:

PureTech Allison Mead, Associate Director, Communications and Investor Relations	[phone]
FTI Consulting (Communications adviser to PureTech) Ben Atwell / Matthew Cole	[phone]

 

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