TIDMABDX
RNS Number : 0738K
Abingdon Health PLC
19 December 2022
Abingdon Health plc
("Abingdon" or "the Company")
Award of Options under new LTIP Scheme
York, U.K. 19 December 2022: Abingdon Health plc (AIM: ABDX), a
leading international developer and manufacturer of high quality,
rapid diagnostic tests, announces the establishment of a new Long
Term Incentive Plan ("LTIP" or the "Plan") for certain directors
and senior management in order to incentivise and encourage
retention in a manner that aligns with the interests of the
Company's shareholders. The new LTIP replaces the long term
incentive plan established at the time of the Company's admission
to AIM ("Existing Options") which has lapsed.
New Long Term Incentive Plan
Under the terms of the new LTIP, the Company has awarded share
options ("Options") over a total of 4,119,285 ordinary shares of
0.025 pence each ("Ordinary Shares") to certain directors and
senior management. There will be a three-year vesting period and
options may be exercised at a price of 7 pence per Ordinary Share
(being an 86 per cent. premium to the closing price on 16 December
2022). Vesting of the Options is conditional upon the business
achieving certain revenue and adj. EBITDA performance criteria. The
Options will become exercisable between 19 December 2025 and 19
December 2032.
The following individuals (each a person discharging managerial
responsibilities ("PDMR")) have been awarded options:
PDMR Role No. of options No. of Existing
awarded Options Lapsed
Chief Executive
Chris Yates Officer 1,285,714 390,625
------------------------- ---------------- -----------------
Melanie Ross Chief Financial 914,286 -
Officer
------------------------- ---------------- -----------------
Chris Hand Non-Executive Chairman 428,571 -
------------------------- ---------------- -----------------
Mark Jones Chief Operating 600,000 -
Officer
------------------------- ---------------- -----------------
Nina Garrett R&D Director 515,000 -
------------------------- ---------------- -----------------
Candice Vendetuolli Head of QARA 285,714 -
------------------------- ---------------- -----------------
Natalie Thrush Head of HR 90,000 -
------------------------- ---------------- -----------------
Concert Party
Both Chris Yates and Chris Hand are deemed to be part of a
concert party comprising certain directors, employees, former
employees and other shareholders (the "Concert Party"). Where a
Rule 9 Mandatory Offer would be required as a result of any future
exercise, Chris Hand and Chris Yates have each confirmed in such
circumstances that they would be prepared to irrevocably commit to
immediately sell any new shares created ahead of exercise. In such
circumstances, this would mean that their interests and the
interest of the wider Concert Party in the Company would reduce as
a result of the dilution created from the new shares issued,
thereby meaning that a Mandatory Offer under Rule 9 would not be
required. The Company has consulted with the Takeover Panel prior
to implementation of the new LTIP.
As a result of these changes, the Company now has outstanding
options over 4,333,858 Ordinary Shares equal to approximately 3.5
per cent. of the Company's issued share capital.
Enquiries:
Abingdon Health plc www.abingdonhealth.com/investors/
Chris Yates, Chief Executive Officer Via Walbrook PR
Melanie Ross , Chief Financial Officer
Chris Hand, Non-Executive Chairman
Singer Capital Markets (Sole Broker and Tel: +44 (0)20 7496 3000
Nominated Adviser)
Peter Steel, Alex Bond, Sam Butcher
Walbrook PR Limited Tel: +44 (0)20 7933 8780 or abingdon@walbrookpr.com
Paul McManus / Phillip Marriage Mob: +44 (0)7980 541 893 / +44 (0)7867
Alice Woodings 984 082
+44 (0)7407 804 654
About Abingdon Health plc
Abingdon Health is a world leading developer and manufacturer of
high-quality lateral flow rapid tests across all industry sectors,
including healthcare and COVID-19. Abingdon is the partner of
choice for a growing global customer base and takes projects from
initial concept through to routine and large-scale manufacturing
and has also developed and marketed its own labelled tests.
The Company offers product development, regulatory support,
technology transfer and manufacturing services for customers
looking to develop new assays or transfer existing laboratory-based
assays to a lateral flow format. Abingdon Health aims to support
the increase in need for rapid results across many industries and
locations and produces lateral flow tests in areas such as
infectious disease, clinical testing including companion
diagnostics, animal health and environmental testing. Faster access
to results allows for rapid decision making, targeted intervention
and can support better outcomes. This ability has a significant
role to play in improving life across the world. To support this
aim Abingdon Health has also developed AppDx(R) , a customisable
image capturing technology that transforms a smartphone into a
self-sufficient, standalone lateral-flow reader.
Founded in 2008, Abingdon Health is headquartered in York,
England.
For more information visit: www.abingdonhealth.com
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Chris Yates
------------------------------------- -------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------
a) Name Abingdon Health plc
------------------------------------- -------------------------------------------
b) LEI 213800XFI4WV3FBILO20
------------------------------------- -------------------------------------------
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 0.025 pence each
financial instrument,
type of instrument
Identification code GB00BLF79J41
b) Nature of the transaction Award of Options
------------------------------------- -------------------------------------------
c) Price(s) and volume(s)
------------------------ --------------
Price(s) Volume(s)
------------------------ --------------
Exercise price:
7.0p 1,285,714
-------------------------------------------------------------------- --------------
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 19 December 2022
------------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Melanie Ross
------------------------------------- -------------------------------------------
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 Abingdon Health plc
------------------------------------- -------------------------------------------
b) LEI 213800XFI4WV3FBILO20
------------------------------------- -------------------------------------------
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 0.025 pence each
financial instrument,
type of instrument
Identification code GB00BLF79J41
b) Nature of the transaction Award of Options
------------------------------------- -------------------------------------------
c) Price(s) and volume(s)
------------------------ --------------
Price(s) Volume(s)
------------------------ --------------
Exercise price:
7.0p 914,286
-------------------------------------------------------------------- --------------
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 19 December 2022
------------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Chris Hand
------------------------------------- -------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------
a) Position/status Non-Executive Chairman
------------------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------
a) Name Abingdon Health plc
------------------------------------- -------------------------------------------
b) LEI 213800XFI4WV3FBILO20
------------------------------------- -------------------------------------------
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 0.025 pence each
financial instrument,
type of instrument
Identification code GB00BLF79J41
b) Nature of the transaction Award of Options
------------------------------------- -------------------------------------------
c) Price(s) and volume(s)
------------------------ --------------
Price(s) Volume(s)
------------------------ --------------
Exercise price:
7.0p 428,571
-------------------------------------------------------------------- --------------
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 19 December 2022
------------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------- -------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Mark Jones
--------------------------------------- -------------------------------------------
Reason for the notification
2
------------------------------------------------------------------------------------
a) Position/status Chief Operating Officer
--------------------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
a) Name Abingdon Health plc
--------------------------------------- -------------------------------------------
b) LEI 213800XFI4WV3FBILO20
--------------------------------------- -------------------------------------------
Details of the transaction(s): section to be repeated for (i)
4 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 Ordinary Shares of 0.025 pence each
instrument, type of
instrument
Identification code GB00BLF79J41
b) Nature of the transaction Award of Options
--------------------------------------- -------------------------------------------
c) Price(s) and volume(s)
------------------------ --------------
Price(s) Volume(s)
------------------------ --------------
Exercise price:
7.0p 600,000
---------------------------------------------------------------------- --------------
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 19 December 2022
--------------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- -------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
------------------------------------------------------------------------------------
a) Name Nina Garrett
--------------------------------------- -------------------------------------------
Reason for the notification
2
------------------------------------------------------------------------------------
a) Position/status R&D Director
--------------------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
a) Name Abingdon Health plc
--------------------------------------- -------------------------------------------
b) LEI 213800XFI4WV3FBILO20
--------------------------------------- -------------------------------------------
Details of the transaction(s): section to be repeated for (i)
4 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 Ordinary Shares of 0.025 pence each
instrument, type of
instrument
Identification code GB00BLF79J41
b) Nature of the transaction Award of Options
--------------------------------------- -------------------------------------------
c) Price(s) and volume(s)
------------------------ --------------
Price(s) Volume(s)
------------------------ --------------
Exercise price:
7.0p 515,000
---------------------------------------------------------------------- --------------
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 19 December 2022
--------------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Candice Vendetoulli
------------------------------------- -------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------
a) Position/status Head of QARA
------------------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------
a) Name Abingdon Health plc
------------------------------------- -------------------------------------------
b) LEI 213800XFI4WV3FBILO20
------------------------------------- -------------------------------------------
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 0.025 pence each
financial instrument,
type of instrument
Identification code GB00BLF79J41
b) Nature of the transaction Award of Options
------------------------------------- -------------------------------------------
c) Price(s) and volume(s)
------------------------ --------------
Price(s) Volume(s)
------------------------ --------------
Exercise price:
7.0p 285,714
-------------------------------------------------------------------- --------------
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 19 December 2022
------------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Natalie Thursh
------------------------------------- -------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------
a) Position/status Head of HR
------------------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------
a) Name Abingdon Health plc
------------------------------------- -------------------------------------------
b) LEI 213800XFI4WV3FBILO20
------------------------------------- -------------------------------------------
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 0.025 pence each
financial instrument,
type of instrument
Identification code GB00BLF79J41
b) Nature of the transaction Award of Options
------------------------------------- -------------------------------------------
c) Price(s) and volume(s)
------------------------ --------------
Price(s) Volume(s)
------------------------ --------------
Exercise price:
7.0p 90,000
-------------------------------------------------------------------- --------------
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 19 December 2022
------------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------- -------------------------------------------
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END
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