Plant Health Care PLC Grant of Options (0036R)
25 Junio 2020 - 01:00AM
UK Regulatory
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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