genedrive
plc
("genedrive" or the
"Company")
Notification and public
disclosure of transactions by persons discharging
managerial responsibilities
and persons closely associated with them
genedrive plc (AIM: GDR), the point
of care pharmacogenetic testing company, announces that it has
granted share options ("Options") to members of its senior
management team to acquire a total of 2,050,000 ordinary shares of
1.5p each ("Ordinary Shares") in the Company under the Company's
Share Option Scheme.
The Options have been granted with
an exercise price equal to the close price on 05 February 2024,
being the day before the grant and vest after a period of three
years, subject to certain performance criteria being met through
achieving revenue targets, achieving cash targets and completing
certain strategic projects in the year ending June 2025. The
Options are exercisable over the period of 10 years from the date
of grant.
The information set out below is
provided in accordance with the requirements of Article 19(3) of
the EU Market Abuse Regulation No 596/2014.
1.
|
Details of the person
discharging managerial responsibilities / person closely
associated
|
a.
|
Name
|
James Cheek CEO
Russell
Shaw CFO
Gino Miele CSO
Patrick
Breen CCO
Jonathan
Barber Operations Director
|
2.
|
Reason for the
notification
|
a.
|
Position/status
|
See box 1a.
above
|
a.
|
Initial notification
/Amendment
|
Initial notification
|
3.
|
Details of the issuer,
emission allowance market participant, auction platform, auctioneer
or auction monitor
|
a.
|
Name
|
genedrive plc
|
b.
|
LEI
|
213800ZYODIRZ87Y4K14
|
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 instrument, type
of
instrument
Identification code
|
Options over ordinary shares of 1.5
pence each
GB00B1VKB244
|
b.
|
Nature of the transaction
|
Grant of options pursuant to and in accordance with the
terms of the Company's Share Option Scheme dated 29 November
2017
|
c.
|
Price(s) and volume(s)
|
|
Option
price(s)
|
Volume(s)
|
James Cheek
|
6.0p
|
750,000
|
Russell Shaw
|
6.0p
|
500,000
|
Gino Miele
|
6.0p
|
500,000
|
Patrick Breen
|
6.0p
|
150,000
|
Jonathan Barber
|
6.0p
|
150,000
|
|
d.
|
Aggregated information
Aggregated volume
Price
|
N/A
|
e.
|
Date of the transaction
|
2024-02-06
|
f.
|
Place of the transaction
|
Outside a
trading venue - shares to be admitted to
AIM market of London Stock Exchange plc on exercise of
options
|
For further details please
contact:
genedrive plc
|
+44 (0)161
989 0245
|
James Cheek: CEO / Russ Shaw:
CFO
|
|
|
|
Peel Hunt LLP (Nominated Adviser and Broker)
|
+44 (0)20
7418 8900
|
James Steel / Patrick
Birkholm
|
|
|
|
Walbrook PR Ltd (Media & Investor
Relations)
|
+44 (0)20
7933 8780 or genedrive@walbrookpr.com
|
Anna Dunphy
|
+44
(0)7876 741 001
|
About
genedrive plc (http://www.genedriveplc.com)
genedrive plc is a pharmacogenetic testing
company developing and commercialising a low cost, rapid,
versatile, simple to use and robust point of need pharmacogenetic
platform for the diagnosis of genetic variations. This helps
clinicians to quickly access key genetic information that will help
them make the right choices over the right medicine or dosage to
use for an effective treatment. Based in the UK, the Company is at
the forefront of work on Point of Care pharmacogenetics.
Pharmacogenetics looks at how your genetics impacts a medicines
ability to work for you. Therefore, by using pharmacogenetics,
medicines can be made safer and more effective. The Company has
launched its flagship product, the Genedrive® MT-RNR1 ID Kit, which
is a single-use disposable cartridge which circumvents the
requirement for cold chain logistics by providing temperature
stable reagent test kits for use on their proprietary test
platform. This test allows clinicians to make a decision on
antibiotic use within 26 minutes, ensuring vital care is delivered
with no negative impact on the patient pathway.
The Company has a clear commercial strategy
focused on accelerating growth through maximising in-market sales,
geographic and portfolio expansion and strategic M&A, and
operates out of its facilities in Manchester.