Microsaic Systems plc Award of options (0018C)
12 June 2019 - 10:38PM
UK Regulatory
TIDMMSYS
RNS Number : 0018C
Microsaic Systems plc
12 June 2019
12 June 2019
Microsaic Systems plc
("Microsaic", "Microsaic Systems" or the "Company")
Award of options
Microsaic Systems plc (AIM: MSYS), the developer of
point-of-need mass spectrometry ("MS") instruments, announces that
on 12 June 2019, the Company has approved the award of options
("New Options") to executive directors over 5,000,000 ordinary
shares of 0.25 pence each in the Company ("Ordinary Shares"),
representing approximately 1.10% of the issued share capital of the
Company.
Options have been granted to directors as detailed below:
Number of Exercise
New Options Price of Total Options
Director Position Awarded New Options Held
Chief Executive
Glenn Tracey Officer 2,500,000 1.55 pence 4,800,000
------------------ ------------- ------------- --------------
Bevan Metcalf Finance Director 2,500,000 1.55 pence 4,620,000
------------------ ------------- ------------- --------------
The New Options awarded to the executive directors were awarded
under Microsaic's Enterprise Management Incentive (EMI) Scheme. The
New Options have an exercise price of 1.55 pence per Ordinary
Share, being the middle market closing price on 11 June 2019. These
options are subject to performance criteria as well as not being
ordinarily exercisable prior to the third anniversary of the date
of award. The performance criteria are:
1. The Company to achieve break-even in a financial year (50% of New Options vest)
2. Launch by the Company of a bio-pharma OEM product (50% of New Options vest)
Following the award of the New Options, the total number of
options outstanding under share incentive scheme arrangements is
18,744,000 representing 4.11% of the Company's issued share
capital.
The notifications below, made in accordance with the
requirements of the EU Market Abuse Regulation, provide additional
detail.
Enquiries:
Microsaic Systems plc
Glenn Tracey, CEO
Bevan Metcalf, FD +44 (0)1483 751 577
N+1 Singer (Nominated Adviser &
Broker)
Shaun Dobson (Corporate Finance)
Tom Salvesen (Corporate Broking) +44 (0)20 7496 3000
IFC Advisory Ltd (Financial PR)
Graham Herring
Heather Armstrong
Florence Chandler +44 (0)20 3934 6630
About Microsaic Systems
Microsaic Systems plc (AIM: MSYS) is a high technology company
developing chip-based, bench-top and point-of-analysis mass
spectrometry ("MS") instruments that are designed to improve the
efficiency of pharmaceutical R&D and manufacturing. The Company
is working with established global life science companies to
co-develop new solutions to improve productivity in the development
of small molecule and novel biologic (peptides, antibodies)
medicines. MS is a powerful method of analysis to enable earlier
decision making relating to product identification, purity and
bioactivity, and is the analytical technique of choice for
biochemists across many industry sectors.
Microsaic's products retain the functionality of larger
conventional MS systems, but are deployable for use at the point of
need, easier to use by non-specialists, consume less energy and
have lower running costs. For more information, please go to
www.microsaic.com.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Glenn Tracey
--------------------------- --------------------------------------
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 Microsaic Systems plc
--------------------------- --------------------------------------
b) LEI 213800P1VXZSD3US5N79
--------------------------- --------------------------------------
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, Share options over ordinary shares
type of instrument of 0.25p each
Identification code GB00B547ZY09
--------------------------- --------------------------------------
b) Nature of the transaction Award of share options over ordinary
shares
--------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1.55 pence 2,500,000
----------
--------------------------- --------------------------------------
d) Aggregated information
- Aggregated volume Not applicable
- Price
--------------------------- --------------------------------------
e) Date of the transaction 12 June 2019
--------------------------- --------------------------------------
f) Place of the transaction Off market
--------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Bevan Metcalf
--------------------------- --------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status Finance Director
--------------------------- --------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------------- --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Microsaic Systems plc
--------------------------- --------------------------------------
b) LEI 213800P1VXZSD3US5N79
--------------------------- --------------------------------------
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, Share options over ordinary shares
type of instrument of 0.25p each
Identification code GB00B547ZY09
--------------------------- --------------------------------------
b) Nature of the transaction Award of share options over ordinary
shares
--------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1.55 pence 2,500,000
----------
--------------------------- --------------------------------------
d) Aggregated information
- Aggregated volume Not applicable
- Price
--------------------------- --------------------------------------
e) Date of the transaction 12 June 2019
--------------------------- --------------------------------------
f) Place of the transaction Off market
--------------------------- --------------------------------------
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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