Allergy Therapeutics plc
("Allergy Therapeutics" or "the Group")
Launch of new Company Long
Term Incentive Plan
Grant of
Options
Change of Name of Nominated
Adviser and Broker
4
July 2024 Allergy Therapeutics (AIM:
AGY), the fully integrated commercial biotechnology company
specialising in allergy vaccines, announces that on 26 June 2024 it
adopted a new long-term incentive plan ("New LTIP"), with share option awards to
be made to key members of Allergy Therapeutics' management team
including certain of its persons discharging managerial
responsibilities ("PDMRs").
The Group's Remuneration Committee
adopted the New LTIP and has granted options to encourage
long-term value creation for the Company's shareholders, and so
that the individuals identified as key people to lead the business
into the future are appropriately incentivised in a manner that
aligns with the interests of the Group's stakeholders.
Vesting is conditional on the
satisfaction of performance criteria over a three year period. The
vesting of any share options is subject to a share price threshold.
So long as this share price threshold is exceeded, vesting of 70
per cent. of the award is subject to EBITDA performance and vesting
of 30 per cent. of the award is subject to regulatory performance
targets.
The following awards have been made
in accordance with the New LTIP:
|
Name
|
Title
|
Number of share options granted
|
Performance period
|
Vesting Date
|
Exercise price
|
|
Manuel
Llobet
|
Chief Executive Officer
|
9,650,663
|
3 years commencing 1 July
2023
|
30 June 2026
|
£0.001
|
|
Shaun Furlong
|
Chief Financial Officer
|
3,809,524
|
3 years commencing 1 July
2023
|
30 June 2026
|
£0.001
|
The number of Ordinary Shares stated
above is the maximum number that could be issued to each PDMR upon
full satisfaction of the performance conditions attached to the
awards.
The Committee will review the
performance conditions at periodic intervals to ensure they remain
appropriate. As a result of any such review, the Committee will
retain discretion to amend the conditions where appropriate having
regard to overall Company performance and wider stakeholder
experience.
Change of Name of Nominated Adviser and
Broker
The Company also announces that its
Nominated Adviser and Broker has changed its name to Panmure
Liberum Limited following completion of its own corporate
merger.
- ENDS -
For
further information, please contact:
Allergy Therapeutics
Manuel Llobet, Chief Executive
Officer
Shaun Furlong, Chief Financial
Officer
+44 (0)1903 845 820
Panmure Liberum (Nominated Adviser and
Broker)
Emma Earl, Will Goode, Freddy
Crossley, Mark Rogers, Corporate Finance
Rupert Dearden, Corporate
Broking
+44 (0)20 7886 2500
ICR
Consilium
Mary-Jane Elliott / David Daley /
Davide Salvi
+44 (0)20 3709 5700
allergytherapeutics@consilium-comms.com
Notes for editors:
About Allergy Therapeutics
Allergy Therapeutics is an
international commercial biotechnology company, headquartered in
the UK, focussed on the treatment and diagnosis of allergic
disorders, including aluminium free immunotherapy vaccines that
have the potential to cure disease. The Group sells proprietary and
third-party products from its subsidiaries in nine major European
countries and via distribution agreements in an additional ten
countries. For more information, please see
www.allergytherapeutics.com.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them in accordance with the Market Abuse
Regulations
|
1
|
Details of the persons discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
1. Manuel Llobet
2. Shaun Furlong
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
1. Chief Executive
Officer
2. 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
|
Allergy Therapeutics plc
|
|
b)
|
LEI
|
213800PQ7AHK7KGVOE23
|
|
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 instrument
|
Ordinary shares of 0.1 pence
each
|
|
Identification code
|
GB00B02LCQ05
|
|
b)
|
Nature of the transaction
|
Grant of options
|
|
c)
|
Price(s) and volume(s)
|
|
Exercise Prices per share
|
Volumes
|
|
|
1. £0.001
2. £0.001
|
1. 9,650,663
2. 3,809,524
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A
|
|
e)
|
Date of the transaction
|
27 June 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|