RUA Life Sciences PLC Grant of EMI Share Options (0810O)
05 Febrero 2021 - 1:00AM
UK Regulatory
TIDMRUA
RNS Number : 0810O
RUA Life Sciences PLC
05 February 2021
5 February 2021
RUA Life Sciences Plc
("RUA Life Sciences", the "Company" or the "Group")
Grant of EMI Share Options
RUA Life Sciences, the holding company of a group of medical
device businesses focused on the exploitation of the patented
long-term implantable biostable polymer, Elast-Eon(TM) , announces
that it has granted, in aggregate, 330,000 share options over
ordinary shares of GBP0.05 ("Ordinary Shares") (the "Options") to
an executive Director and certain employees of the Group, as
detailed below.
135,000 Options have been awarded to Dr Caroline Stretton, Group
Chief Operating Officer and PDMR of the Company, and a further
195,000 Options have been awarded to members of RUA Medical's
leadership team. The Options are issued under the Company's EMI
Share Option Plan as summarised in Part IV of the Company's
circular dated 22 May 2018 and approved by shareholders at the
Company's general meeting on 8 June 2018 (the "Scheme").
The exercise price of the Options is 155 pence per share,
representing the closing mid-market price per Ordinary Share on the
day preceding the release of this announcement.
The key vesting terms are that: 20 per cent. of the Options
granted vest after 3 years; 30 per cent. upon the Group receiving
either CE Marking or FDA approval for one of its devices in
development; and the balance of 50 per cent. on the Company's share
price being at least GBP3.00 per share for ten consecutive trading
days. If the Option holder ceases to be a director or employee of
the Company as appropriate after the relevant vesting date, the
Options lapse 90 days after cessation unless the Board resolves to
allow exercise within that period.
As recommended under the QCA Corporate Governance Code, the
Board has consulted with the Company's major shareholders who are
supportive of the Options award.
Including the new 330,000 Options, the Company has outstanding
awards over 2,280,603 Ordinary Shares, representing approximately
10.3% of the Company's current issued share capital.
For further information contact:
RUA Life Sciences
Bill Brown, Chairman Tel: +44 (0) 77 3071 8296
David Richmond, CEO Tel: +44 (0) 78 9999 6400
Shore Capital (Nominated Adviser and Joint Broker)
Tom Griffiths/David Coaten Tel: +44 (0)20 7408 4080
Cenkos Securities plc (Joint Broker) Tel: +44 (0) 20 7397 8900
Russell Cook/Max Gould (Corporate Finance)
Michael Johnson (Sales)
About RUA Life Sciences
The RUA Life Sciences group was created in April 2020 when RUA
Life Sciences Plc (formerly known as AorTech International Plc)
acquired RUA Medical Devices Limited to create a fully formed
medical device business. RUA Life Sciences is the holding company
of the Group's four trading businesses, each exploiting the Group's
patented polymer technology.
Our vision is to improve the lives of millions of patients by
improving and enabling medical devices with Elast-Eon(TM) , the
world's leading long-term implantable polyurethane.
Whether it is licensing Elast-Eon(TM) , manufacturing a device
or component or developing next generation medical devices, a RUA
Life Sciences business is pursuing our vision.
Elast-Eon(TM)'s biostability is comparable to silicone while
exhibiting excellent mechanical, blood contacting and flex-fatigue
properties. These polymers can be processed using conventional
thermoplastic extrusion and moulding techniques. With over 7
million implants and over 14 years of successful clinical use,
RUA's polymers are proven in long-term life enabling
applications.
The Group's four business units are:
RUA Medical : End-to-end contract developer and manufacturer
of medical devices and implantable fabric specialist.
RUA Biomaterials Licensor of Elast-Eon(TM) polymers to the medical
: device industry.
RUA Vascular: Commercialisation of large bore polymer sealed
grafts and soft tissue patches.
RUA Structural Development of polymeric leaflet systems for
Heart : heart valves.
1. Details of PDMR/person closely associated with them ('PCA')
==== ======================================================================================
a) Name Dr Caroline Stretton
==== ========================================= ===========================================
b) Position/status Group Chief Operating Officer / PDMR
==== ========================================= ===========================================
c) Initial notification/ Initial notification
amendment
==== ========================================= ===========================================
2. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
==== ======================================================================================
a) Name RUA Life Sciences plc
==== ========================================= ===========================================
b) LEI 213800BMVB22PVOJ9Z28
==== ========================================= ===========================================
3. 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 transaction(s)
has been conducted
==== ======================================================================================
a) Description of the Option over ordinary shares of 5 pence
financial instrument each
ISIN: GB0033360586
==== ========================================= ===========================================
b) Nature of the transaction Award of Options.
==== ========================================= ===========================================
c) Price(s) and volume(s) Price(s) Volume(s)
==== ========================================= =================== ===================
155p 135,000
=================== ===================
d) Aggregated information N/A (single transaction)
====
Aggregated volume
Price
========================================== ===============================================
e) Date of the transaction 4 February 2020
==== ========================================= ===========================================
f) Place of the transaction UK
==== ========================================= ===========================================
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