Venture Life Group PLC 2016 LTIP adopted & Grant of Options (1354L)
29 September 2016 - 4:01PM
UK Regulatory
TIDMVLG
RNS Number : 1354L
Venture Life Group PLC
29 September 2016
Venture Life Group plc
("Venture Life" or the "Company")
Venture Life Group plc 2016 Long Term Incentive Plan and Grant
of Options to PDMRs
Venture Life (AIM: VLG), the international consumer self-care
group focused on developing, manufacturing and commercialising
products for the ageing population, announces that it has adopted a
new Long Term Incentive Plan, the Venture Life Group plc 2016 Long
Term Incentive Plan ("LTIP"). Initial grants of nominal-cost share
options ("Options") over ordinary shares of 0.3p each in Venture
Life Group plc ("Shares") pursuant to the LTIP were made on 28
September 2016.
Grant of Options
On 28 September 2016 (the "Date of Grant"), Venture Life granted
Options over a total of 1,641,247 Shares to its four Executive
Directors, all of whom are regarded as Persons Discharging
Managerial Responsibilities ("PDMRs") for the Company.
Vesting of the Options is subject to continued employment and
the Group meeting objective performance conditions, namely the
Company's Earnings Per Share ("EPS") performance and relative Total
Shareholder Return (share price performance plus dividends added
back - "TSR"). Half of the Shares under an Option are subject to
EPS performance conditions, and half of the Shares under an Option
are subject to TSR performance conditions.
The first tranche of Options granted over a total of 611,598
Shares ("Grant 1") will ordinarily vest on 25 March 2018, subject
to meeting the performance conditions set for the Company's EPS
over the three financial years ending 31 December 2017 and TSR for
the three years commencing 26 March 2015.
The second tranche of Options granted over a total of 1,029,649
Shares ("Grant 2") will ordinarily vest on the third anniversary of
the Date of Grant, subject to meeting the performance conditions
set for the Company's EPS over the three financial years ending 31
December 2018 and TSR for the three years commencing on the Date of
Grant.
The Options are exercisable at a price of 0.3p per Share.
Director Position No. of No. of Shares Combined Total number
Shares under Option no. of Shares of Shares under
under Option - Grant under Options options held
- Grant 2
1
Chief Executive
Jerry Randall Officer 203,390 340,183 543,573 1,894,793
Gianluca Manufacturing
Braguti Director 153,971 264,237 418,208 418,208
Sharon Commercial
Collins Director 135,593 226,789 362,382 1,713,602
Chief Financial
James Hunter Officer 118,644 198,440 317,084 917,084
------------- ------------------------- -------------- ----------------
611,598 1,029,649 1,641,247 4,943,687
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation, provides further detail.
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) Names Jerry Randall - Chief Executive
Officer
Gianluca Braguti - Manufacturing
Director
Sharon Collins - Commercial
Director
James Hunter - Chief Financial
Officer
--- ------------------------ -----------------------------------
2 Reason for the notification
--- -------------------------------------------------------------
a) Position/status See 1(a) above for positions
- all classified as PDMRs of
Venture Life
--- ------------------------ -----------------------------------
b) Initial notification Initial Notification
/Amendment
--- ------------------------ -----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- -------------------------------------------------------------
a) Name Venture Life Group plc
--- ------------------------ -----------------------------------
b) LEI
--- ------------------------ -----------------------------------
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 Ordinary Shares of 0.3p each
the financial in Venture Life Group plc
instrument, type
of instrument
--- ------------------------ -----------------------------------
b) Identification GB00BFPM8908
code
--- ------------------------ -----------------------------------
c) Nature of the Grant of Options over Ordinary
transaction Shares pursuant to the Venture
Life Group plc 2016 Long Term
Incentive Plan
--- ------------------------ -----------------------------------
d) Price and volumes Price - nil
Volumes:
Jerry Randall - 543,573 Ordinary
Shares
Gianluca Braguti - 418,208
Ordinary Shares
Sharon Collins - 362,382 Ordinary
Shares
James Hunter - 317,084 Ordinary
Shares
--- ------------------------ -----------------------------------
d) Aggregated information N/a
- Aggregated
volume
- Price
--- ------------------------ -----------------------------------
e) Date of the transaction 28 September 2016
--- ------------------------ -----------------------------------
f) Place of the Outside a trading venue
transaction
--- ------------------------ -----------------------------------
Name of authorised official of issuer responsible for making
notification.
James Hunter
Company Secretary to Venture Life Group plc
For further information please contact:
Venture Life Group PLC +44 (0) 1344 742870
Jerry Randall, Chief Executive
Officer
James Hunter, Chief Financial Officer
Panmure Gordon (UK) Limited (Nominated +44 (0) 20 7886
Adviser and Joint Broker) 2500
Freddy Crossley/Peter Steel/Duncan
Monteith (Corporate Finance)
Tom Salvesen (Corporate Broking)
Turner Pope Investments (TPI) Ltd +44 (0) 20 3621
(Joint Broker) 4120
James Pope/Ben Turner
Walbrook PR venturelife@walbrookpr.com
or +44 (0) 20 7933 8780
Paul McManus/Anna Dunphy +44 (0) 7980 541 893 / +44
(0) 7876 741 001
This information is provided by RNS
The company news service from the London Stock Exchange
END
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