Delivery of Third Milestone and Grant of Options
Summary by AI BETAClose X
6 August 2026
Kromek Group plc
("Kromek" or the "Company" or the "Group")
Delivery of third milestone under agreement with Siemens Healthineers
Grant of options to Directors
Kromek Group plc (AIM: KMK), a global detection company delivering best-in-class solutions for the advanced imaging and CBRN detection markets, announces the successful delivery of the third milestone under its enablement agreement (the "Enablement Agreement") with Siemens Medical Solutions USA, Inc. ("Siemens Healthineers") and the grant of options to directors of the Company.
Siemens Healthineers payment
Further to Kromek's announcement of 30 January 2025, the Company is pleased to announce that it has successfully delivered the third milestone under its Enablement Agreement with Siemens Healthineers and has received the third payment instalment of $2.5m. To date, the Company has received $32.5m under the Enablement Agreement. The remaining payment of $5.0m is payable at completion of the Group's delivery under the Enablement Agreement, which is expected to occur in the financial year to 30 April 2029.
Grant of options to directors
As detailed in the Company's final results announcement on 16 September 2025, Arnab Basu, CEO, and Berry Beumer, COO and President of the Advanced Imaging Division, were granted a special conditional bonus to be paid in four instalments dependent on the delivery of the four milestones under the Enablement Agreement, and the receipt by the Group of the associated cash payment, and subject to the individual remaining an employee of the Group. Dr. Basu and Mr. Beumer elected at that time to receive a significant proportion of the bonus as options over ordinary shares of 1p each ("Ordinary Shares") in the Company.
Accordingly, following the receipt of the third payment instalment under the Enablement Agreement, the Company granted, on 5 August 2026 (the "Grant Date"), Dr. Basu and Mr. Beumer 555,687 options each. The options vested upon issue and expire on the tenth anniversary of the Grant Date. The options have an exercise price of 1p per Ordinary Share and the number of options was calculated based on a price of 5.65p per Ordinary Share, being the average price of the Company's Ordinary Shares on AIM for the three months preceding and three months following the announcement of the Siemens Healthineers transaction on 30 January 2025.
Following this grant of options, the Company has options and long-term incentive awards outstanding over a total of 76,486,278 Ordinary Shares, representing 11.7% of the Company's issued share capital.
For further information, please contact:
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Kromek Group plc |
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Arnab Basu, CEO Claire Burgess, CFO |
+44 (0)1740 626 060 |
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Cavendish Capital Markets Limited (Nominated Adviser and Broker) |
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Geoff Nash/Giles Balleny/Seamus Fricker- Corporate Finance Andrew Burdis - ECM Michael Johnson - Sales |
+44 (0)20 7220 0500
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Gracechurch Group (Financial PR) |
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Harry Chathli/Claire Norbury |
+44 (0)20 4582 3500
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Engage with the Kromek management team directly by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our interactive investor hub here: https://investors.kromek.com/
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Kromek Group plc
Kromek Group plc is a leading developer of radiation detection and bio-detection technology solutions for the advanced imaging and CBRN detection segments. Headquartered in County Durham, UK, Kromek has manufacturing operations in the UK and US, delivering on the vision of enhancing the quality of life through innovative detection technology solutions.
The advanced imaging segment comprises the medical (including CT and SPECT), security and industrial markets. Kromek provides its OEM customers with detector components, based on its core cadmium zinc telluride (CZT) platform, to enable better detection of diseases such as cancer and Alzheimer's, contamination in industrial manufacture and explosives in aviation settings.
In CBRN detection, the Group provides nuclear radiation detection solutions to the global homeland defence and security market. Kromek's compact, handheld, high-performance radiation detectors, based on advanced scintillation and solid-state readout technology, are primarily used to protect critical infrastructure, events, personnel and urban environments from the threat of 'dirty bombs'.
The Group is also developing bio-security solutions in the CBRN detection segment. These consist of fully automated and autonomous systems to detect a wide range of airborne pathogens.
Kromek is listed on AIM, a market of the London Stock Exchange, under the trading symbol 'KMK'.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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Arnab Basu |
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2
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Reason for the notification
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a)
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Position/status
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Chief Executive Officer |
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b)
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Initial notification /Amendment
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Initial notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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Kromek Group plc |
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b)
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LEI
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213800VLHYXGHEX5VQ48
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4
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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
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a)
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Description of the financial instrument, type of instrument |
Options over ordinary shares of 1 penny each |
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Identification code |
GB00BD7V5D43 |
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b)
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Nature of the transaction
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Grant of options |
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c)
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Price(s) and volume(s) |
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Price(s) |
Volume(s) |
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Exercise price of 1p |
555,687 |
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d)
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Aggregated information
- Aggregated volume
- Price
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N/A |
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e)
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Date of the transaction
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5 August 2026 |
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f)
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Place of the transaction
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Outside a trading venue |
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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Berry Beumer |
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2
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Reason for the notification
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a)
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Position/status
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Chief Operating Officer and President of the Advanced Imaging Division |
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b)
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Initial notification /Amendment
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Initial notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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Kromek Group plc |
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b)
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LEI
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213800VLHYXGHEX5VQ48
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4
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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
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a)
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Description of the financial instrument, type of instrument |
Options over ordinary shares of 1 penny each |
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Identification code |
GB00BD7V5D43 |
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b)
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Nature of the transaction
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Grant of options |
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c)
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Price(s) and volume(s) |
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Price(s) |
Volume(s) |
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Exercise price of 1p |
555,687 |
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d)
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Aggregated information
- Aggregated volume
- Price
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N/A |
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e)
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Date of the transaction
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5 August 2026 |
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f)
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Place of the transaction
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Outside a trading venue |
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