Director/PDMR Shareholding
20 July 2010 - 12:33AM
UK Regulatory
TIDMGWP
RNS Number : 5686P
GW Pharmaceuticals PLC
19 July 2010
GW Pharmaceuticals PLC ("GW Pharmaceuticals" or the "Company")
NOTIFICATION OF INTERESTS OF DIRECTORS
Porton Down, UK, 19 July 2010: GW Pharmaceuticals (AIM: GWP) hereby provides
notification that the Company has today granted the following awards to
Directors over the Company's ordinary shares ("Shares") in the form of
nominal-cost options ("Awards") under the GW Pharmaceuticals plc Long-Term
Incentive Plan:
+-------------------+-------------------+-------------------+
| | | |
| Name | Number of Shares | Total number of |
| | under Award | Shares over which |
| | | options / awards |
| | | held |
+-------------------+-------------------+-------------------+
| Dr Geoffrey Guy | 259,836 | 2,049,750 |
+-------------------+-------------------+-------------------+
| Justin Gover | 213,666 | 2,446,135 |
+-------------------+-------------------+-------------------+
| David Kirk | 170,228 | 2,580,364 |
+-------------------+-------------------+-------------------+
| Dr Stephen Wright | 177,970 | 1,495,150 |
+-------------------+-------------------+-------------------+
The exercise price of the Awards is 0.1p per Share, the par value of the Shares.
The Awards will ordinarily vest on 19 July 2013 subject to the following
performance conditions having been achieved:
One quarter of the award will vest upon achievement of regulatory approvals of
the Company's lead product, Sativex , in a further 6 European countries
(excluding UK and Spain) and 3 non-EU countries;
One quarter of the award will vest upon the conclusion one new significant
non-Sativex license agreement;
One quarter of the award will vest upon the successful completion of a Phase II
proof of concept clinical trial in one non-Sativex product; and
One quarter of the award will vest if, on the vesting date, the GW
Pharmaceutical plc share price has both increased and outperformed the FTSE AIM
All share Index over the period from the date of grant until vesting of the
option.
Once vested, an Award may be exercised at any time prior to the tenth
anniversary of the date of grant.
For further information, please contact:
GW Pharmaceuticals PLC +44
(0)1980 557 000
Adam George, Company Secretary
Piper Jaffray Ltd (Nominated Adviser)
Neil Mackison/Rupert Winckler +44 (0)
203 142 8700
This information is provided by RNS
The company news service from the London Stock Exchange
END
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