TIDMAGY
RNS Number : 4370I
Allergy Therapeutics PLC
01 April 2020
Allergy Therapeutics plc
("Allergy Therapeutics" or the "Group")
Grant and Vesting of Awards under Long Term Incentive Plan
Allergy Therapeutics (AIM:AGY), the fully integrated
pharmaceutical company specialising in allergy vaccines, announces
that,
1. Grant of Award
Pursuant to the Company's Long Term Incentive Plan ("LTIP") t he
following conditional awards of shares of 0.1 pence each were made
to Executive Directors at a nominal cost of 0.1 pence each on 27
March 2020 (the "Awards").
Executive Director Number of Conditional shares
awarded
Manuel Llobet 900,000
-----------------------------
Nick Wykeman 450,000
-----------------------------
The Awards have been granted in accordance with the LTIP rules
and vesting is conditional on the satisfaction of performance
conditions in respect of earnings growth and share price growth
over three years.
2. Vesting of Award
Performance conditions attaching to provisional awards
("Awards") made pursuant to the Company's Long Term Incentive Plan
("LTIP") for the three years ended 30 June 2019, details of which
were announced on 30 December 2016, have been met in part.
Consequently, on 27 March 2020, Allergy Therapeutics granted
certain of its directors low cost options ("Options") over the
Company's ordinary shares of 0.1 pence each ("Ordinary Shares") in
replacement for the Awards made under the LTIP as follows:
Director Percentage of Total number Exercise Price
Award Vested of Ordinary Shares
over which Options
granted
M anuel L lobet, 50% 845,000 0.1 pence
-------------- ------------------- --------------
Nicolas Wykeman 50% 211,250 0.1 pence
-------------- ------------------- --------------
In accordance with the rules of the LTIP, 50% of these Options
are exercisable immediately and the remaining 50% are subject to a
holding period of three years. The exercise period is ten years
from date of grant.
Following the above share transactions, the Executive Directors
hold the following:
Director Unvested LTIP Low cost Share Interest in Ordinary
Awards Options Shares
Manuel Llobet 2,700,000 3,000,423 3,325,000
-------------- --------------- ---------------------
Nicolas Wykeman 1,350,000 211,250 300,000
-------------- --------------- ---------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Manuel Llobet
--------------------- -------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status Manuel Llobet - Chief Executive Office and PDMR
--------------------- -------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name ALLERGY THERAPEUTICS PLC
--------------------- -------------------------------------------------
b) LEI LEIR97215202003301009534776
--------------------- -------------------------------------------------
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 Conditional award of shares and grant of share
of the financial options under the Company's Long Term Incentive
instrument, Plan
type of instrument
--------------------- -------------------------------------------------
b) Identification GB00B02LCQ05
code
--------------------- -------------------------------------------------
c) Nature of the Grant of Conditional Awards
transaction
--------------------- -------------------------------------------------
d) Price(s) and Award Price(s) Volume(s)
volume(s) Conditional Shares GBP0.001 900,000
Share options GBP0.001 845,000
--------------------- -------------------------------------------------
e) Aggregated
information n/a
--------------------- -------------------------------------------------
f) Date of the 27 March 2020
transaction
--------------------- -------------------------------------------------
g) Place of the Outside a trading venue
transaction
--------------------- -------------------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Nick Wykeman
--------------------- -------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status Nick Wykeman - Chief Financial Officer and PDMR
--------------------- -------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name ALLERGY THERAPEUTICS PLC
--------------------- -------------------------------------------------
b) LEI LEIR97215202003301009534776
--------------------- -------------------------------------------------
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 Conditional award of shares and grant of share
of the financial options under the Company's Long Term Incentive
instrument, Plan
type of instrument
--------------------- -------------------------------------------------
b) Identification GB00B02LCQ05
code
--------------------- -------------------------------------------------
c) Nature of the Grant of Conditional Awards
transaction
--------------------- -------------------------------------------------
d) Price(s) and Award Price(s) Volume(s)
volume(s) Conditional Shares GBP0.001 450,000
Share options GBP0.001 211,250
--------------------- -------------------------------------------------
e) Aggregated
information n/a
--------------------- -------------------------------------------------
f) Date of the 27 March 2020
transaction
--------------------- -------------------------------------------------
g) Place of the Outside a trading venue
transaction
--------------------- -------------------------------------------------
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 ("MAR").
For further information, please contact:
Allergy Therapeutics
+44 (0) 1903 845 820
Manuel Llobet, Chief Executive Officer
Nick Wykeman, Chief Financial Officer
Panmure Gordon
+44 (0) 20 7886 2500
Freddy Crossley, Emma Earl, Corporate Finance
Erik Anderson, Corporate Broking
Consilium Strategic Communications
+44 20 3709 5700
Mary-Jane Elliott / David Daley / Nicholas Brown / Olivia
Manser
allergytherapeutics@consilium-comms.com
Stern Investor Relations, Inc.
+1 212 362 1200
Christina Tartaglia
christina@sternir.com
Notes for editors:
About Allergy Therapeutics
Allergy Therapeutics is an international specialty
pharmaceutical group focussed on the treatment and diagnosis of
allergic disorders, including 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. Its broad pipeline of products in clinical development
include vaccines for grass, tree and house dust mite, and peanut
allergy vaccine in pre-clinical development. Adjuvant systems to
boost performance of vaccines outside allergy are also in
development.
Formed in 1999 out of Smith Kline Beecham, Allergy Therapeutics
is headquartered in Worthing, UK with more than 11,000m(2) of
state-of-the-art MHRA-approved manufacturing facilities and
laboratories. The Group, which has achieved double digit compound
annual growth since formation, employs c.600 employees and is
listed on the London Stock Exchange (AIM:AGY). For more
information, please see www.allergytherapeutics.com .
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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