TIDMPHC

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(R), 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                           New Options 
                                       (number of shares in the Company                          (number of 
                                                 under option)                                    shares in 
                                                                                                 the Company 
                                                                                                under option) 
                                  2004 Share                                              2017 Employee/Non-Employee 
                                      Option     2015 Employee   2017 Employee                            Share Plan 
       Name of Director               Scheme        Share Plan      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/            Initial notification 
                     Amendment 
                   -------------------------------  -------------------------------- 
      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               Ordinary Shares of 
                     Financial instrument,            1p each 
                     type of instrument 
                    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               2,691,022 
                                                       As above 
 
                  *    Price 
               -----------------------------------  -------------------------------- 
  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/             Initial notification 
        Amendment 
      --------------------------------  -------------------------- 
 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                    Ordinary Shares of 
        the Financial instrument,         1p each 
        type of instrument 
       Identification                    GB00B01JC540 
        code 
      --------------------------------  -------------------------- 
 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            1,658,981 
                                           As above 
 
         *    Price 
      --------------------------------  -------------------------- 
 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/               Initial notification 
        Amendment 
      ----------------------------------  -------------------------- 
 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                      Ordinary Shares of 
        the Financial instrument,           1p each 
        type of instrument 
       Identification                      GB00B01JC540 
        code 
      ----------------------------------  -------------------------- 
 b)    Nature of the transaction           Grant of options 
      ----------------------------------  -------------------------- 
 c)    Price(s) and volume(s)              Price        Volume 
      ----------------------------------  -----------  ------------- 
                                           10p          823,096 
 ---------------------------------------  -----------  ------------- 
 d)    Aggregated information: 
         *    Aggregated volume              823,096 
                                             As above 
 
         *    Price 
      ----------------------------------  -------------------------- 
 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/              Initial notification 
        Amendment 
      ---------------------------------  -------------------------- 
 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                 Ordinary Shares of 
        Financial instrument,              1p each 
        type of instrument 
       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             983,487 
                                            As above 
 
         *    Price 
      ---------------------------------  -------------------------- 
 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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June 09, 2020 02:00 ET (06:00 GMT)

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