Biome Technologies PLC 2017 Long Term Incentive Plan - First Vesting (0038K)
11 December 2018 - 1:35AM
UK Regulatory
TIDMBIOM
RNS Number : 0038K
Biome Technologies PLC
10 December 2018
10 December 2018
Biome Technologies plc
("Biome", "the Company" or "the Group")
Long Term Incentive Plan (the "2017 LTIP") First Vesting
Biome Technologies plc, a leading bioplastics and radio
frequency technology business, announces that pursuant to the
Company's 2017 LTIP, the first vesting of options has occurred.
The 2017 LTIP was announced on 21 December 2017 setting share
performance hurdles to achieve the vesting of options thereby
further aligning the interests of the Company's management with
Biome's shareholders. Details of the first vesting under the 2017
LTIP, which occurred on 10 December 2018, can be found below, with
the following options now having vested and are available to be
exercised under the terms of the rules of the scheme.
Name of Individual Options vested and Exercise price per
available for exercise share
Paul Mines (Director) 57,588 215 pence
------------------------- ---------------------
Declan Brown (Director) 26,874 215 pence
------------------------- ---------------------
Other Employees 34,553 215 pence
------------------------- ---------------------
Total 119,015
------------------------- ---------------------
The Company also announced on 21 December 2017 that an award had
been made to John Standen, subject to the same performance criteria
as the 2017 LTIP. Under this scheme, a gross amount of GBP25,339
less tax deductions has become payable. Of the net amount payable
to John Standen of GBP15,203, Mr Standen has elected to receive
GBP10,900 of this sum by way of the issue of 2,000 new ordinary
shares in the Company (based on the closing mid-market price of the
Company's ordinary shares on 7 December 2018) with the remainder
being paid in cash.
Application has been made to the London Stock Exchange for
admission of the 2,000 new ordinary shares to trading on AIM
("Admission") and subject to issue and allotment of these shares,
dealings on AIM are expected to occur on or around 14 December
2018. Following the issue and allotment of these shares the total
issued share capital and voting rights of the Company will be
2,365,188 ordinary shares with voting rights.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them in accordance with the requirements of the EU
Market Abuse Regulation can be found below.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name John Standen
----------------------------- -------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Director - 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 Biome Technologies plc
----------------------------- -------------------------------------------
b) LEI 213800B9QI14B12TAO51
----------------------------- -------------------------------------------
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 Ordinary shares of 5p in Biome
instrument, type of Technologies plc. Identification
instrument code (ISIN) for Biome Technologies
Identification code plc ordinary shares: GB00B9Z1M820
----------------------------- -------------------------------------------
b) Nature of the transaction Shares issued in lieu of cash remuneration
award
----------------------------- -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
545 pence 2,000 ordinary
per ordinary shares
share
---------------
----------------------------- -------------------------------------------
d) Aggregated information Single transaction as in 4 c) above.
- Aggregated volume 2,000 ordinary shares were issued
- Price at 545 pence per ordinary share
----------------------------- -------------------------------------------
e) Date of the transaction 10 December 2018
----------------------------- -------------------------------------------
f) Place of the transaction Outside of trading venue - issue
of new ordinary shares
----------------------------- -------------------------------------------
-Ends-
For further information please contact: Biome
Technologies plc
Paul Mines, Chief Executive Officer
Declan Brown, Group Finance Director
www.biometechnologiesplc.com Tel: +44 (0) 2380 867
100
Allenby Capital
David Hart/Alex Brearley (Nominated Adviser)
Kelly Gardiner (Broker)
www.allenbycapital.com Tel: +44 (0) 20 3328
5656
About Biome
Biome Technologies plc is an AIM listed, growth-orientated,
commercially driven technology group. Our strategy is founded on
building market-leading positions based on patented technology and
serving international customers in valuable market sectors. We have
chosen to do this by developing products in application areas where
the value-added pricing can be justified and that are not reliant
on government legislation. These products are driven by customer
requirements and are compatible with existing manufacturing
processes. They are market rather than technology-led.
The Group comprises two divisions, Biome Bioplastics Limited and
Stanelco RF Technologies Limited. Biome Bioplastics is a leading
developer of highly-functional, bio-based and biodegradable
plastics. The company's mission is to produce bioplastics that
challenge the dominance of oil-based polymers. Stanelco RF
Technologies designs, builds and services advanced radio frequency
(RF) systems. Dielectric and induction heating products are at the
core of a product offering that ranges from portable sealing
devices to large furnaces for the fibre optics markets.
In 2018, the Board has adopted the following three high level
KPIs for the next three years to continue its ambitious
momentum:
-- Compound revenue growth of 25% per annum across the Group and
40% compound revenue growth in the Bioplastics division
-- Diversify the Group's turnover by product and market to
ensure that no one product or end customer contributes more than
15% of revenues by 2020
-- Increase investment in the Group's next generation of
products by spending significantly more per annum on average than
the GBP0.3m per annum average spend over the previous strategic
objective cycle
www.biometechnologiesplc.com
www.biomebioplastics.com and www.thinkbioplastic.com
www.stanelcorftechnologies.com
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END
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