TIDMODX
RNS Number : 4084O
Omega Diagnostics Group PLC
10 June 2022
OMEGA DIAGNOSTICS GROUP PLC
("Omega" or the "Company" or the "Group")
Grant of share incentive awards to Directors and senior
managers
1. Establishment and operation of the Company's new Long Term Incentive Plan
Omega (AIM: ODX), the specialist medical diagnostics company
focused on industry-leading Health & Nutrition and Global
Health products, announces that, on 8 June 2022, it granted awards
("Awards") over ordinary shares of 4 pence each in the capital of
the Company ("Ordinary Shares") to Executive Directors pursuant to
the terms of its newly established Long Term Incentive Plan (the
"LTIP"), details of which are set out below:
Director Board Position Number of Number of Total number
Ordinary Shares Ordinary Shares of Ordinary
over which over which Shares over
"Performance "Retention which Awards
Awards" granted Awards" granted granted
Jag Grewal CEO 4,700,715 1,200,000 5,900,715
---------------- ----------------- ----------------- --------------
Chris Lea CFO 4,339,121 1,000,000 5,339,121
---------------- ----------------- ----------------- --------------
The LTIP has been established in order to incentivise Executive
Directors and certain senior managers to deliver long term value
for shareholders, align their interests with the various
stakeholders and retain these key individuals within the business.
No consideration was paid for the grant of the Awards, which have
been structured as "nil cost" options.
The Performance Awards detailed in the above table will normally
vest on the third anniversary of grant but only if, at that time,
the Company's share price (averaged over a 90day period) is equal
to or greater than 12 pence per Ordinary Share. Vesting will
normally be dependent on the continued employment of the
participant within the Group.
The vesting of the Retention Awards is dependent solely on
continued employment over the period of three years from grant (or,
in the case of Chris Lea, the period of three years from 30 August
2021, being the date on which he was originally appointed as an
Executive Director).
Once the Awards have vested, they will generally be available to
be exercised until the tenth anniversary of their original
grant.
In addition, Awards over an aggregate of 3,000,000 Ordinary
Shares were also granted on 8 June 2022 to certain other senior
managers in the business. These Awards are all Performance Awards
with the same vesting criteria as detailed above.
Further information in relation to the LTIP will be included in
Omega's next annual report and financial statements.
2. Grant of stand-alone option to Chairman
Omega also announces that, on 9 June 2022, it granted the
following conditional option over Ordinary Shares (with an exercise
price of 4 pence per share) to the Company's Chairman:
Director Board Position Number of Ordinary
Shares over which
conditional option
granted
Simon Douglas Non-Executive Chairman 200,000
------------------------ --------------------
The terms of the above option are set out in a stand-alone
agreement entered into between the Company and Simon Douglas.
Subject to continued appointment as a Director, it will normally
vest and become exercisable on the third anniversary of its grant.
For the avoidance of doubt, no consideration was paid for the grant
of this option.
3. Release of previous options
In advance of the grant of the Awards and options detailed
above, both Jag Grewal and Simon Douglas released all existing
rights to acquire Ordinary Shares that had previously been granted
to them under Omega's various share incentive arrangements.
4. Overview of options held by Omega's Directors
Following the transactions described above, the position of
those directors being granted options can be summarised as
follows:
Director Board Position Previous Current Combined
number of number of interest
Ordinary Ordinary Ordinary of equity
shares Shares subject Shares subject held and
held to Awards to Awards options
/ options / options as a percentage
of issued
share capital
Non-Executive
Simon Douglas Chairman 500,000 200,000 200,000 0.3%
---------------- ----------- ---------------- ---------------- -----------------
Jag Grewal CEO 735,746 1,200,000 5,900,715 2.8%
---------------- ----------- ---------------- ---------------- -----------------
Chris Lea CFO 500,000 0 5,339,121 2.4%
---------------- ----------- ---------------- ---------------- -----------------
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014. Upon the publication
of this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
Contacts:
Omega Diagnostics Group PLC www.omegadx.com
Jag Grewal, Chief Executive Officer via Walbrook PR
Chris Lea, Chief Financial Officer
finnCap Ltd Tel: 020 7220 0500
Geoff Nash/Edward Whiley/George Dollemore (Corporate
Finance)
Alice Lane/ Harriet Ward (ECM)
Walbrook PR Limited Tel: 020 7933 8780 or omega@walbrookpr.com
Paul McManus Mob: 07980 541 893
Lianne Applegarth Mob: 07584 391 303
Sam Allen Mob: 07502 558 258
About Omega Diagnostics Group PLC
Omega manufactures and distributes high quality in-vitro
diagnostic products for use in hospitals, clinics, laboratories and
healthcare practitioners in over 70 countries and specialise in the
areas of health and nutrition and global health.
www.omegadx.com
Notification of transactions of persons discharging managerial
responsibilities and persons closely associated with them
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Jag Grewal
--------------------- ----------------------------------------------------
Reason for the notification
2
---------------------------------------------------------------------------
a) Position/status Chief Executive Officer
--------------------- ----------------------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------- ----------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name Omega Diagnostics Group PLC
--------------------- ----------------------------------------------------
b) LEI 2138007U9P4BTZTYIR92
--------------------- ----------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---------------------------------------------------------------------------
a) Description Ordinary Shares of 4 pence each ("Ordinary Shares")
of the financial
instrument,
type of instrument
ISIN: GB00B1VCP282
Identification
code
--------------------- ----------------------------------------------------
b) Nature of Grant of "Retention Award" (in the form of a
the transaction nil cost option) over Ordinary Shares pursuant
to the Omega Diagnostics Group PLC Long Term
Incentive Plan
--------------------- ----------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ----------
Nil (exercise price) 1,200,000
---------------------- ----------
--------------------- ----------------------------------------------------
d) Aggregated Not applicable
information
-Aggregated
volume
- Price
--------------------- ----------------------------------------------------
e) Date of the 8 June 2022
transaction
--------------------- ----------------------------------------------------
f) Place of the Outside a trading venue
transaction
--------------------- ----------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---------------------------------------------------------------------------
a) Description Ordinary Shares of 4 pence each ("Ordinary Shares")
of the financial
instrument,
type of instrument
ISIN: GB00B1VCP282
Identification
code
--------------------- ----------------------------------------------------
b) Nature of Grant of "Performance Award" (in the form of
the transaction a nil cost option) over Ordinary Shares pursuant
to the Omega Diagnostics Group PLC Long Term
Incentive Plan
--------------------- ----------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ----------
Nil (exercise price) 4,700,715
---------------------- ----------
--------------------- ----------------------------------------------------
d) Aggregated Not applicable
information
-Aggregated
volume
- Price
--------------------- ----------------------------------------------------
e) Date of the 8 June 2022
transaction
--------------------- ----------------------------------------------------
f) Place of the Outside a trading venue
transaction
--------------------- ----------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---------------------------------------------------------------------------
a) Description Ordinary Shares of 4 pence each ("Ordinary Shares")
of the financial
instrument,
type of instrument
ISIN: GB00B1VCP282
Identification
code
--------------------- ----------------------------------------------------
b) Nature of Release of option over Ordinary Shares originally
the transaction granted on 5 July 2012 pursuant to the Omega
Diagnostics Group PLC EMI Option Scheme
--------------------- ----------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ----------
14.5p (exercise price) 90,000
------------------------ ----------
--------------------- ----------------------------------------------------
d) Aggregated Not applicable
information
-Aggregated
volume
- Price
--------------------- ----------------------------------------------------
e) Date of the 7 June 2022
transaction
--------------------- ----------------------------------------------------
f) Place of the Outside a trading venue
transaction
--------------------- ----------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---------------------------------------------------------------------------
a) Description Ordinary Shares of 4 pence each ("Ordinary Shares")
of the financial
instrument,
type of instrument
ISIN: GB00B1VCP282
Identification
code
--------------------- ----------------------------------------------------
b) Nature of Release of option over Ordinary Shares originally
the transaction granted on 25 February 2014 pursuant to the Omega
Diagnostics Group PLC EMI Option Scheme
--------------------- ----------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ----------
30.5p (exercise price) 610,000
------------------------ ----------
--------------------- ----------------------------------------------------
d) Aggregated Not applicable
information
-Aggregated
volume
- Price
--------------------- ----------------------------------------------------
e) Date of the 7 June 2022
transaction
--------------------- ----------------------------------------------------
f) Place of the Outside a trading venue
transaction
--------------------- ----------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---------------------------------------------------------------------------
a) Description Ordinary Shares of 4 pence each ("Ordinary Shares")
of the financial
instrument,
type of instrument
ISIN: GB00B1VCP282
Identification
code
--------------------- ----------------------------------------------------
b) Nature of Release of option over Ordinary Shares originally
the transaction granted on 23 January 2020 pursuant to the Omega
EMI Plan 2020
--------------------- ----------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ----------
15.4p (exercise price) 500,000
------------------------ ----------
--------------------- ----------------------------------------------------
d) Aggregated Not applicable
information
-Aggregated
volume
- Price
--------------------- ----------------------------------------------------
e) Date of the 7 June 2022
transaction
--------------------- ----------------------------------------------------
f) Place of the Outside a trading venue
transaction
--------------------- ----------------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Chris Lea
--------------------- ----------------------------------------------------
Reason for the notification
2
---------------------------------------------------------------------------
a) Position/status Chief Financial Officer
--------------------- ----------------------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------- ----------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name Omega Diagnostics Group PLC
--------------------- ----------------------------------------------------
b) LEI 2138007U9P4BTZTYIR92
--------------------- ----------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---------------------------------------------------------------------------
a) Description Ordinary Shares of 4 pence each ("Ordinary Shares")
of the financial
instrument,
type of instrument
ISIN: GB00B1VCP282
Identification
code
--------------------- ----------------------------------------------------
b) Nature of Grant of "Retention Award" (in the form of a
the transaction nil cost option) over Ordinary Shares pursuant
to the Omega Diagnostics Group PLC Long Term
Incentive Plan
--------------------- ----------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ----------
Nil (exercise price) 1,000,000
---------------------- ----------
--------------------- ----------------------------------------------------
d) Aggregated Not applicable
information
-Aggregated
volume
- Price
--------------------- ----------------------------------------------------
e) Date of the 8 June 2022
transaction
--------------------- ----------------------------------------------------
f) Place of the Outside a trading venue
transaction
--------------------- ----------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---------------------------------------------------------------------------
a) Description Ordinary Shares of 4 pence each ("Ordinary Shares")
of the financial
instrument,
type of instrument
ISIN: GB00B1VCP282
Identification
code
--------------------- ----------------------------------------------------
b) Nature of Grant of "Performance Award" (in the form of
the transaction a nil cost option) over Ordinary Shares pursuant
to the Omega Diagnostics Group PLC Long Term
Incentive Plan
--------------------- ----------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ----------
Nil (exercise price) 4,339,121
---------------------- ----------
--------------------- ----------------------------------------------------
d) Aggregated Not applicable
information
-Aggregated
volume
- Price
--------------------- ----------------------------------------------------
e) Date of the 8 June 2022
transaction
--------------------- ----------------------------------------------------
f) Place of the Outside a trading venue
transaction
--------------------- ----------------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Simon Douglas
--------------------- ----------------------------------------------------
Reason for the notification
2
---------------------------------------------------------------------------
a) Position/status Non-Executive Chairman
--------------------- ----------------------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------- ----------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name Omega Diagnostics Group PLC
--------------------- ----------------------------------------------------
b) LEI 2138007U9P4BTZTYIR92
--------------------- ----------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---------------------------------------------------------------------------
a) Description Ordinary Shares of 4 pence each ("Ordinary Shares")
of the financial
instrument,
type of instrument
ISIN: GB00B1VCP282
Identification
code
--------------------- ----------------------------------------------------
b) Nature of Grant of option over Ordinary Shares
the transaction
--------------------- ----------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ----------
4p (exercise price) 200,000
--------------------- ----------
--------------------- ----------------------------------------------------
d) Aggregated Not applicable
information
-Aggregated
volume
- Price
--------------------- ----------------------------------------------------
e) Date of the 9 June 2022
transaction
--------------------- ----------------------------------------------------
f) Place of the Outside a trading venue
transaction
--------------------- ----------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---------------------------------------------------------------------------
a) Description Ordinary Shares of 4 pence each ("Ordinary Shares")
of the financial
instrument,
type of instrument
ISIN: GB00B1VCP282
Identification
code
--------------------- ----------------------------------------------------
b) Nature of Release of option over Ordinary Shares originally
the transaction granted on 5 March 2021 pursuant to the Omega
Diagnostics Group PLC Third Unapproved Option
Scheme
--------------------- ----------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ----------
89p (exercise price) 200,000
---------------------- ----------
--------------------- ----------------------------------------------------
d) Aggregated Not applicable
information
-Aggregated
volume
- Price
--------------------- ----------------------------------------------------
e) Date of the 8 June 2022
transaction
--------------------- ----------------------------------------------------
f) Place of the Outside a trading venue
transaction
--------------------- ----------------------------------------------------
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END
DSHUKRORUVUNRUR
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