Fusion Antibodies PLC Grant of Options (1933L)
21 December 2018 - 6:00PM
UK Regulatory
TIDMFAB
RNS Number : 1933L
Fusion Antibodies PLC
21 December 2018
21 December 2018
Fusion Antibodies plc
("Fusion" or the "Company")
Grant of Options
Fusion Antibodies plc (AIM: FAB), a pharmaceutical contract
research organisation specialising in antibody engineering
services, announces that the Company has, on 20 December 2018,
granted 1,225,000 options (the "Options") over ordinary shares of 4
pence in the Company ("Ordinary Shares") to certain Executive
Directors and employees of the Company. These Options were granted
pursuant to the Fusion Antibodies EMI and Unapproved Employee Share
Option Scheme (the "Scheme"), adopted by the Company on 11 December
2017.
The Options have an exercise price of 54.5 pence per Option,
being the closing mid-market price of an Ordinary Share on the day
of grant. The Options will vest over a three-year period, with one
third of the Options vesting each anniversary following the grant
date and subject to continuing employment only. Once vested, the
Options can be exercised for a period of ten years from the grant
date.
Of the 1,225,000 Options issued, 600,000 of the Options have
been granted to the Executive Directors of the Company as
follows:
Name Number of Options Existing options Total Options
granted over Ordinary over Ordinary
Shares held Shares held following
grant
Paul Kerr, CEO 200,000 125,000 325,000
Richard Buick,
CTO 200,000 125,000 325,000
James Fair, CFO 200,000 75,000 275,000
Following the grant of the Options, the Company has options in
issue over a total of 1,701,250 Ordinary Shares, representing 7.7
per cent. of the Company's issued share capital. 1,225,000 of the
options have been issued pursuant to the Scheme and the balance of
476,250 options have been issued outside of the Scheme.
Further detail is set out in the PDMR disclosure tables
below.
Enquiries:
Fusion Antibodies plc www.fusionantibodies.com
Dr Paul Kerr, Chief Executive Via Walbrook PR
Officer
James Fair, Chief Financial
Officer
Allenby Capital Limited Tel: +44 (0)20 3328 5656
James Reeve / Asha Chotai
Walbrook PR Tel: +44 (0)20 7933 8780 or fusion@walbrookpr.com
Anna Dunphy Mob: +44 (0)7876 740 001
Paul McManus Mob: +44 (0)7980 541 983
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 Paul Kerr
---------------------------- ----------------------------------
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 Fusion Antibodies plc
---------------------------- ----------------------------------
b) LEI 213800KBAYRC9VOQ9V39
---------------------------- ----------------------------------
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 Options over ordinary shares
financial instrument, of 4p each in Fusion Antibodies
type of instrument plc
Identification code
Identification code (ISIN) for
Fusion Antibodies plc ordinary
shares: GB00BDQZGK16
---------------------------- ----------------------------------
b) Nature of the transaction Grant of options over ordinary
shares
---------------------------- ----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
54.5p 200,000
----------
---------------------------- ----------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
---------------------------- ----------------------------------
e) Date of the transaction 20 December 2018
---------------------------- ----------------------------------
f) Place of the transaction Outside a trading venue
---------------------------- ----------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Richard Buick
---------------------------- ----------------------------------
2 Reason for the notification
----------------------------------------------------------------
a) Position/status Chief Technical Officer
---------------------------- ----------------------------------
b) Initial notification Initial notification
/Amendment
---------------------------- ----------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------
a) Name Fusion Antibodies plc
---------------------------- ----------------------------------
b) LEI 213800KBAYRC9VOQ9V39
---------------------------- ----------------------------------
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 Options over ordinary shares
financial instrument, of 4p each in Fusion Antibodies
type of instrument plc
Identification code
Identification code (ISIN) for
Fusion Antibodies plc ordinary
shares: GB00BDQZGK16
---------------------------- ----------------------------------
b) Nature of the transaction Grant of options over ordinary
shares
---------------------------- ----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
54.5p 200,000
----------
---------------------------- ----------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
---------------------------- ----------------------------------
e) Date of the transaction 20 December 2018
---------------------------- ----------------------------------
f) Place of the transaction Outside a trading venue
---------------------------- ----------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name James Fair
---------------------------- ----------------------------------
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 Fusion Antibodies plc
---------------------------- ----------------------------------
b) LEI 213800KBAYRC9VOQ9V39
---------------------------- ----------------------------------
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 Options over ordinary shares
financial instrument, of 4p each in Fusion Antibodies
type of instrument plc
Identification code
Identification code (ISIN) for
Fusion Antibodies plc ordinary
shares: GB00BDQZGK16
---------------------------- ----------------------------------
b) Nature of the transaction Grant of options over ordinary
shares
---------------------------- ----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
54.5p 200,000
----------
---------------------------- ----------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
---------------------------- ----------------------------------
e) Date of the transaction 20 December 2018
---------------------------- ----------------------------------
f) Place of the transaction Outside a trading venue
---------------------------- ----------------------------------
About Fusion Antibodies plc
Fusion is a Belfast based contract research organisation ("CRO")
providing a range of antibody engineering services for the
development of antibodies for both therapeutic drug and diagnostic
applications. The Company's ordinary shares were admitted to
trading on AIM on 18 December 2017. Fusion provides a broad range
of services in antibody generation, development, production,
characterisation and optimisation. These services include antigen
expression, antibody production, purification and sequencing,
antibody humanisation using Fusion's proprietary CDRx(TM) platform
and the production of antibody generating stable cell lines to
provide material for use in clinical trials. Since 2012, the
Company has successfully sequenced over 250 antibodies and
successfully completed over 100 humanisation projects for its
international, blue-chip client base.
The Company was established in 2001 as a spin out from Queen's
University Belfast. It was initially a drug development business
but revised its operations to focus on CRO work in 2011. The
Company has a highly experienced management team with a combined 47
years' experience in the biopharma industry. The global monoclonal
antibody therapeutics market, which accounted for 43 per cent. of
the global biologics market in 2016, was valued at between $85.4
billion and $86.7 billion in 2015 and is forecast to increase at a
CAGR of between 8.2 per cent. and 12.2 per cent. for the period
2016 to 2024.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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