TIDMPHC

RNS Number : 0036R

Plant Health Care PLC

25 June 2020

25 June 2020

Plant Health Care plc

("Plant Health Care" or the "Company")

Grant of options in Lieu of Cash bonus

Plant Health Care(R), a leading provider of novel patent-protected biological products to global agriculture markets, is pleased to announce an options grant to two Executive Directors on 24 June 2020. In line with previous years, these Directors alongside other senior management of the Company have agreed to receive 50% of their potential 2020 bonus in the form of stock options (the "Bonus Scheme"). As part of the Bonus Scheme, options over a total of 853,659 ordinary shares of 1p each were granted to Jeffrey Tweedy and Jeffrey Hovey, Executive Directors of the Company. This is required to now be announced due to Jeffery Hovey and Jeffrey Tweedy being appointed to the Board on 1 November 2019.

The Company aims to reduce cash burn as much as possible to shorten the runway to cash break even, and the Bonus Scheme will help reduce the cash burn of the Company significantly over the next twelve months.

The options will be issued under the 2017 Employee Share Option Plan and were made in accordance with the terms of a share option agreement approved by the Company's Remuneration Committee, under which the options have an exercise price of GBP0.10, have a 10-year life and are subject to performance conditions. These awards will only vest if the Company achieves a certain financial result and if, in addition, specific annual objectives are met as a result the final awards under the Bonus Scheme to the Directors may be less.

 
 
 Plant Health Care plc 
  Chris Richards - CEO 
  Jeffrey Hovey - Chief Financial 
  Officer                                                          +1 919 926 1600 
 Arden Partners plc 
  John Llewellyn-Lloyd / Dan Gee-Summons                         +44 207 614 5900 
 
      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 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 
                 ---------------------------------  ----------  ---------------- 
                                                     10.0p       325,203 
    ----------------------------------------------  ----------  ---------------- 
  d)          Aggregated information: 
                *    Aggregated volume                 325,203 
                                                       As above 
 
                *    Price 
             ---------------------------------      ---------------------------- 
  e)          Date of the transaction                24 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 
      ---------------------------------  ------------  ------------ 
                                          10.0p         528,455 
 --------------------------------------  ------------  ------------ 
 d)    Aggregated information: 
         *    Aggregated volume             528,455 
                                            As above 
 
         *    Price 
      ---------------------------------  -------------------------- 
 e)    Date of the transaction            24 June 2020 
      ---------------------------------  -------------------------- 
 f)    Place of the transaction           Outside a trading venue 
      ---------------------------------  -------------------------- 
 

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END

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June 25, 2020 02:00 ET (06:00 GMT)

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