Clinigen Group plc Confirmation of terms of service with Chris Rigg (2608U)
21 October 2017 - 4:21AM
UK Regulatory
TIDMCLIN
RNS Number : 2608U
Clinigen Group plc
20 October 2017
20 October 2017
Clinigen Group plc
("Clinigen" or the "Company")
Clinigen confirms terms of service with Chris Rigg
Further to the announcement of the Recommended Acquisition of
Quantum Pharma Plc ("Quantum") on 13 September 2017, and the
circular to Quantum shareholders dated 29 September 2017 (the
"Scheme Document"), in which it was stated that Clinigen had
offered to Chris Rigg (Quantum's Chief Executive Officer) that,
upon successful completion of the Recommended Acquisition, he will
join Clinigen's executive management team and be appointed as an
executive Director on the Clinigen Board on a remuneration package
broadly equivalent to his existing terms of employment with
Quantum, the Company is pleased to confirm that outline terms of
service have been agreed in principle with Chris Rigg in the event
that the Scheme of Arrangement becoming effective.
Under the terms of his service agreement, it is expected that he
will receive an annual salary of GBP300,000 plus discretionary
annual bonus of up to 75% of salary dependent on achievement of
corporate and personal performance targets. The service contract is
expected to be terminable at 12 months' notice by either party.
It is also expected that he will be granted a one-time initial
LTIP award of three times salary once the key terms of the LTIP
award, including exercise price, have been agreed.
N+1 Singer, as Rule 3 independent adviser to Quantum, is of the
opinion that the key terms discussed are fair and reasonable.
Capitalised terms used but not defined in this announcement
shall have the meaning given to them in the Scheme Circular.
-Ends-
Contact Details
Clinigen Group plc
Shaun Chilton, Group Chief Executive Tel: +44 (0)
Officer 1283 495010
Martin Abell, Group Chief Financial
Officer
Matt Parrish, Head of Investor
Relations
Tel: +44 (0)
Numis Securities Limited 20 7260 1000
Michael Meade / Freddie Barnfield
(Nominated Adviser)
James Black / Tom Ballard (Corporate
Broking)
Tel: +44 (0)
RBC Capital Markets - Joint Broker 20 7653 4000
Marcus Jackson / Elliot Thomas
/ Jack Wood
Tel: +44 (0)
Instinctif Partners (media) 20 7457 2020
Melanie Toyne-Sewell / Alex Shaw Email: clinigen@instinctif.com
Notes to Editors
About Clinigen Group
Clinigen Group plc (AIM: CLIN) is a global pharmaceutical and
services company with a unique combination of businesses focused on
providing access to medicines. Its mission is to deliver the right
medicine to the right patient at the right time through three areas
of global medicine supply; clinical trial, unlicensed and licensed
medicines.
Clinical Trial Services
Clinigen is the global market leader in the specialist supply
and management of quality-assured comparator medicines and services
to clinical trials and Investigator Initiated Trials.
Unlicensed Medicines
Clinigen is the global leader in ethically sourcing and
supplying unlicensed medicines to hospital pharmacists and
physicians for patients with a high unmet medical need. The Group
manages early access programmes to innovative new medicines and
provides 'on-demand' access globally to medicines which remain
unlicensed at the point of care.
Commercial Medicines
The Group acquires global rights to niche hospital-only and
critical care products, revitalising these assets around the world
and returning them back to sustained growth. The Group also
provides access to licensed and branded generic medicines in the
Africa and Asia Pacific region.
For more information, please visit www.clinigengroup.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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