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PureTech Health PLC (PRTC)

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Friday 20 May, 2016

PureTech Health PLC

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

 

+1 617 651 3156

FTI Consulting (Communications adviser to PureTech)

Ben Atwell / Matthew Cole

+44 (0)20 3727 1000

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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