Cambridge Cognition Holdings PLC Grant of Options (3005O)

TIDMCOG

RNS Number : 3005O

Cambridge Cognition Holdings PLC

04 November 2016

Cambridge Cognition Holdings Plc

('Cambridge Cognition' or the 'Company')

Grant of Options

The neuroscience company Cambridge Cognition Holdings PLC (Cambridge, UK - LSE: COG), which develops and markets near patient technologies to facilitate the development of treatments for neurological disorders, announces that on 3 November 2016, the Company granted options ("Options") over a total of 1,150,000 ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") pursuant to the Company's EMI option scheme and the Company's unapproved option scheme.

Of these Options:

   -     550,000 were granted to Steven Powell, Chief Executive Officer of the Company; 
   -     150,000 were granted to Nick Walters, Chief Financial Officer of the Company; 

- 175,000 were granted to other Persons Discharging Managerial Responsibilities ("PDMRs") on behalf of the Company; and

   -     275,000 were granted to other employees of the Company. 
 
 Name            Position              Total         Total   Percentage         Number   Percentage 
                                      number        number       of the    of Ordinary       of the 
                                      of new    of Options    Company's         Shares    Company's 
                                     Options           now      current      currently      current 
                                     granted          held        share           held        share 
                                                                capital                     capital 
                                                               now held                        held 
                                                                  under 
                                                                 Option 
--------------  -----------------  ---------  ------------  -----------  -------------  ----------- 
 Steven          Chief Executive 
  Powell          Officer            550,000       675,000         3.3%         70,541         0.3% 
--------------  -----------------  ---------  ------------  -----------  -------------  ----------- 
                 Chief Financial 
 Nick Walters     Officer            150,000       300,000         1.5%        186,937         0.9% 
--------------  -----------------  ---------  ------------  -----------  -------------  ----------- 
 

The Options are exercisable at a price of 1 pence per Ordinary Share from three years following the date of award until the tenth anniversary of the date of award, subject to satisfying the following performance criteria:

- 55% of the Options granted will vest if the average closing mid-market price of an Ordinary Share for the final 10 trading days of 2018 is greater than 140 pence per Ordinary Share. A pro rata sliding scale will apply if the average closing mid-market price of an Ordinary Share for the final 10 trading days of 2018 is between 100 pence and 140 pence per Ordinary Share; and

- 45% of the Options granted will vest if the cumulative revenue of the Company reported in the audited accounts for the three financial years ended 31 December 2018 exceeds GBP23m.

Following the grant of Options, the total number of Options outstanding over unissued Ordinary Shares is 2,961,208 Ordinary Shares, representing approximately 14.5% of the Company's issued share capital.

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                      Steven Powell - Chief Executive 
                                  Officer 
                                  Nick Walters - Chief Financial 
                                  Officer 
                                  Jennifer Barnett - Chief Scientific 
                                  Officer 
                                  Ricky Dolphin - Technical 
                                  & Operations Director 
---  -------------------------  ------------------------------------- 
 2.   Reason for the Notification 
---  ---------------------------------------------------------------- 
 a)   Position/status            See 1(a) above for positions 
                                  - all classified as PDMRs 
                                  of the Company 
---  -------------------------  ------------------------------------- 
 b)   Initial notification/      Initial Notification 
       Amendment 
---  -------------------------  ------------------------------------- 
 3.   Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ---------------------------------------------------------------- 
 a)   Name                       Cambridge Cognition Holdings 
                                  Plc 
---  -------------------------  ------------------------------------- 
 b)   LEI                        n/a 
---  -------------------------  ------------------------------------- 
 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             In each case, the grant of 
       the Financial              Options over Ordinary Shares 
       instrument, type           on 3 November 2016 
       of instrument 
--- 
      Identification             GB00B8DV9647 
       code 
---  -------------------------  ------------------------------------- 
 b)   Nature of the              Grant of Options over Ordinary 
       transaction                Shares 
---  -------------------------  ------------------------------------- 
 c)   Price(s) and               Price: n/a 
       volume(s)                  Volumes: 
                                  Steven Powell - 550,000 Options 
                                  Nick Walters - 150,000 Options 
                                  Jennifer Barnett - 150,000 
                                  Options 
                                  Ricky Dolphin - 25,000 Options 
---  -------------------------  ------------------------------------- 
 d)   Aggregated information:    n/a 
        *    Aggregated volume 
 
 
        *    Price 
---  -------------------------  ------------------------------------- 
 e)   Date of the transaction    3 November 2016 
---  -------------------------  ------------------------------------- 
 f)   Place of the               Outside a trading venue 
       transaction 
---  -------------------------  ------------------------------------- 
 

Enquiries

 
 Cambridge Cognition Holdings PLC 
 Steven Powell, Chief Executive         Tel: [phone] 
  Officer                                700 
  Noah Konig, Director of Product        [e-mail] 
  Marketing and Communications 
 
 finnCap Ltd (NOMAD and Joint Broker)   Tel: [phone] 
                                         0500 
 Geoff Nash / Simon Hicks               (Corporate Finance) 
 Alice Lane                             (Corporate Broking) 
 Hybridan LLP (Joint Broker)            Tel: [phone] 
                                         2341 
  Claire Noyce                           (Corporate Broking) 
 

Notes to editors

About Cambridge Cognition

Cambridge Cognition is an international neuroscience company which develops and markets near patient cognitive assessment products to improve the understanding, diagnosis and treatment of neurological and psychiatric disorders.

For over 30 years the company's patented technology has advanced the assessment of cognition to accelerate the development of safe and effective treatments, improve patient outcomes and measure cognitive health throughout life.

Partners include the world's leading biotechnology and pharmaceutical companies, academic institutions and public-private healthcare providers.

www.cambridgecognition.com

This information is provided by RNS

The company news service from the London Stock Exchange

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November 04, 2016 03:00 ET (07:00 GMT)