TIDMPHC
RNS Number : 3024B
Plant Health Care PLC
07 October 2020
The information communicated in this announcement contains
inside information for the purposes of Article 7 of Regulation
596/2014.
Plant Health Care plc
("Plant Health Care" or "the Company")
Grant of Options
Director/PDMR shareholding s
Plant Health Care, a leading provider of novel patent-protected
biological products to global agricultural markets, announce s that
on 6 October 2020 the Company awarded options to executive
directors and certain employees under the Company's 2017 Employee
Share Option Plan (the ' Plan ').
The Company has awarded 6.5m options with an exercise price of
1p per share under the Plan (representing 2.58% of the Company's
current issued share capital) that vest upon the earlier of: (a)
the date of a Change of Control; or (b) upon satisfaction of the
Performance-Based Requirement and in addition, for United States
employees, the Service-Based Requirement.
Performance-Based Requirement:
(i) In respect of 70% of the options (rounded to the nearest
whole number) no option may be exercised until the date on which
the arithmetic mean closing price of the Company's shares over 30
consecutive trading dates after the date of grant has exceeded 15p
per share; and
(ii) In respect of the balance of the options, no options may be
exercised until the date on which the arithmetic mean closing price
of the Company's shares over 30 consecutive trading days after the
date of grant has exceeded 27p per share.
Service-Based Requirement: for all United States employees no
option shall be exercised before the two-year anniversary of the
date of grant.
Those options that have not vested will expire after five years
from the date of grant. All options are also fully convertible at
the discretion of the Remuneration Committee of the Company.
Of the options granted, the following awards have been made to
the executive directors, being Chris Richards, Jeffrey Hovey and
Jeffrey Tweedy.
Name Position Number o f s hares s ubject
t o t he Option
Chief Executive
Christopher Richards Officer 3,250,000
================= ============================
Chief Financial
Jeffrey Hovey Officer 1,181,818
================= ============================
Chief Operating
Jeffrey Tweedy Officer 1,181,818
================= ============================
Related Party Transactions
The award of the options to Chris Richards, Jeffrey Hovey and
Jeffrey Tweedy , as set out above, constitute related party
transactions pursuant to Rule 13 of the AIM Rules for Companies .
The Independent Directors , being all Directors save for Chris
Richards, Jeffrey Hovey and Jeffrey Tweedy , consider, having
consulted with the Company's nominated adviser, Arden, that the
award of the options to Chris Richards, Jeffrey Hovey and Jeffrey
Tweedy are fair and reasonable insofar as the Company's
shareholders are concerned.
Bill Lewis, Chair of the Remuneration Committee commented:
"PHC's management is unusually well qualified and experienced,
as is frequently remarked to us by channel partners and competitors
alike. Our new options scheme, linked to a sustained increase in
the share price over the next two years, is intended to align
senior management incentives more closely to shareholder
value."
Enquiries
Plant Health Care plc +1 919 926 1600
Chris Richards - CEO
Jeffrey Hovey - Chief Financial Officer
Arden Partners plc - Nomad and Broker
John Llewellyn-Lloyd / Dan Gee-Summons +44 (0)20 7614 5900
Company website: www.planthealthcare.com
The information set out below is provided in accordance with the
requirements of Article 19(3) of the EU Market Abuse Regulation No
596/2014.
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/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
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 financial instrument, type of Options over Ordinary Shares of 1p each
instrument
Identification code GB00B 01JC540
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of 1p options u nder the 2017 Employee Share
Option Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1p 3,250,000
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price 3,250,000 ordinary shares of 1p per share par value
As above
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 06.10. 2020
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Jeffrey Hovey
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Chief Financial Officer
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
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 financial instrument, type of Options over Ordinary Shares of 1p each
instrument
Identification code GB00B 01JC540
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of 1p Options under the 2017 Employee Share
Option Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1p 1,181,818
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price 1,181,818 ordinary shares of 1p per share par value
As above
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 06.10. 2020
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Jeffrey Tweedy
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Chief Operating Officer
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
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 financial instrument, type of Options over Ordinary Shares of 1p each
instrument
Identification code GB00B 01JC540
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of 1p options under the 2017 Employee Share
Option Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1p 1,181,818
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price 1,181,818 ordinary shares of 1p per share par value
As above
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 06.10. 2020
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
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END
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October 07, 2020 02:00 ET (06:00 GMT)
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