Grant of share options to the CEO

RNS Number : 2359J
Shield Therapeutics PLC
18 December 2020
 

 

Shield Therapeutics plc

("Shield" or the "Group" or the "Company")

 

Grant of share options to the Chief Executive Officer

 

London, UK, 18 December 2020:  Shield Therapeutics plc (LSE: STX), a commercial stage, pharmaceutical company with a focus on addressing iron deficiency with its lead product Feraccru®/Accrufer® (ferric maltol), announces that on 18 December 2020 it granted share awards in the form of options over ordinary shares in the capital of the Company ("Ordinary Shares") under Shield Therapeutics Retention and Performance Share Plan ("RPSP"). 

 

In accordance with the requirements of the EU Market Abuse Regulations the following options have been granted to PDMRs:

 

Name

Option Plan

Number of Ordinary Shares under Option

Vesting Date

Tim Watts PDMR and CEO

RPSP

625,000

Dependent on performance conditions outlined below vesting can occur up until 31 December 2021.

 

 

These awards are subject to the following performance conditions:

1)  60% of the options granted (375,000) will vest if the Company's market capitalisation is at or above £175m for five (5) consecutive trading days at any time during 2021.  The Company's current market capitalisation is c. £66.9m

2)  The remaining 40% of the options granted (250,000) will vest if the Company's market value is at or above £300m for five (5) consecutive trading days at any time during 2021

 

Mr Watts currently holds 648,700 ordinary shares in the Company, representing 0.55% of the Company's issued share capital.

 

1.

Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")

a)

Name

Tim Watts

2.

Reason for the notification

a)

Position/status

Chief Executive Officer

 

b)

Initial notification/

amendment

Initial Notification

3.

Details of the Issuer

a)

Name

Shield Therapeutics plc

b)

LEI code

213800G74QWY15FC3W71

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

 

Identification code

Options over Ordinary Shares

 

 

ISIN: GB00BYV81293

b)

Nature of the transaction

Grant of awards over Ordinary Shares under the Company's Retention and Performance Share Plan.

c)

Price(s) and volumes(s)

2020 RPSP Award

 

Price (£)

Volume

0.015

625,000

 

d)

Aggregated information

Aggregate volume

 

Price

 

 

Awards granted over 625,000 shares in total

 

 

1.5p exercise price

 

 

e)

Date of the transaction

18 December 2020

f)

Place of the transaction

Outside of trading venue

 

 

For further information please contact:

 

Shield Therapeutics plc

www.shieldtherapeutics.com

Tim Watts, CEO

+44 (0)20 7186 8500

Lucy Huntington-Bailey, Company Secretary and General Counsel

+44 (0)19 1511 8500

 

Nominated Adviser and Joint Broker

 

Peel Hunt LLP

 

James Steel/Dr Christopher Golden

+44 (0)20 7418 8900

 

Joint Broker

finnCap Ltd 

Geoff Nash/Matt Radley/Alice Lane 

 

 

+44 (0)20 7220 0500

 

 

 

Financial PR & IR Advisor

 

Walbrook PR

+44 (0)20 7933 8780 or  shield@walbrookpr.com

Paul McManus/Lianne Cawthorne

+44 (0)7980 541 893 / +44 (0)7584 391 303

 

 

 

 

 

 

 

 

 

 

 

About Shield Therapeutics plc

 

Shield is a de-risked, specialty pharmaceutical company focused on commercialising its lead product, Feraccru®/Accrufer®, a novel, stable, non-salt based oral therapy for adults with iron deficiency with or without anaemia. Feraccru®/Accrufer® has been approved for use in the United States, European Union, UK and Switzerland and has exclusive IP rights until the mid-2030s. Feraccru is commercialised in the UK and Europe by Norgine B.V. and the Company is currently in the process of selecting a commercialisation partner for the US market.  Shield also has an exclusive licence agreement with Beijing Aosaikang Pharmaceutical Co., Ltd., for the development and commercialisation of Feraccru®/Accrufer® in China, Hong Kong, Macau and Taiwan. 

 

For more information, please visit www.shieldtherapeutics.com . Follow Shield on Twitter @ShieldTx

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