Microsaic Systems plc Award of Options (7779A)

TIDMMSYS

RNS Number : 7779A

Microsaic Systems plc

03 January 2018

3 January 2018

Microsaic Systems plc

("Microsaic", "Microsaic Systems" or the "Company")

Award of options

Microsaic Systems plc (AIM: MSYS), the developer of chip-based mass spectrometry ("MS") instruments designed to improve the efficiency of pharmaceutical R&D, announces that on 2 January 2018, the Company awarded options ("New Options") to directors and employees over 9,000,000 ordinary shares of 0.25 pence each in the Company ("Ordinary Shares"), representing approximately 4.96% of the issued share capital of the Company.

Options have been granted to directors as detailed below:

 
                                  Number 
                                   of New      Exercise 
                                  Options      Price of     Total Options 
 Director    Position             Awarded     New Options        Held 
----------  ------------------  ----------  -------------  -------------- 
 Peter       Non-Executive 
  Grant       Chairman           3,500,000     4.05 pence       3,500,000 
----------  ------------------  ----------  -------------  -------------- 
 Glenn       Chief Executive 
  Tracey      Officer            1,000,000     4.05 pence       2,300,000 
----------  ------------------  ----------  -------------  -------------- 
 Bevan 
  Metcalf    Finance Director    1,000,000     4.05 pence       2,120,000 
----------  ------------------  ----------  -------------  -------------- 
 

The 3,500,000 New Options awarded to Peter Grant, Non-Executive Chairman were awarded under the Company's Unapproved Share Option Scheme and have an exercise price of 4.05 pence per Ordinary Share being the closing share price on 29 December 2017. 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 2,000,000 New Options awarded to the executive directors ("Management Options") were awarded under Microsaic's Enterprise Management Incentive (EMI) Scheme. The Management Options have an exercise price of 4.05 pence per Ordinary Share, being the closing share price on 29 December 2017. 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 balance of 3,500,000 New Options were awarded to all other employees of the Company ("Employee Options") under Microsaic's EMI Scheme. The Employee Options have an exercise price of 4.05 pence per Ordinary Share, being the closing share price on 29 December 2017. These options are not subject to performance criteria but are subject to not being ordinarily exercisable prior to the third anniversary of the date of award.

Following the award of the New Options, the total number of Ordinary Shares outstanding under share incentive scheme arrangements is 14,447,200 representing 7.97% 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.

For more information, please contact:

 
 Microsaic Systems plc 
  Glenn Tracey, CEO               +44 (0) 1483 
  Bevan Metcalf, FD                751577 
 N+1 Singer (Nominated Adviser 
  & Broker) 
  Shaun Dobson                    [phone] 
  Liz Yong                         3000 
 IFC (Financial PR) 
  Graham Herring 
  Heather Armstrong               +44 (0) 203 
  Florence Chandler                934 6632 
 
 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  --------------------------------------------------------- 
 a)   Name                       P W Grant 
---  -------------------------  ------------------------------ 
 2    Reason for the notification 
---  --------------------------------------------------------- 
 a)   Position/status            PDMR - Non-Executive Chairman 
---  -------------------------  ------------------------------ 
 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               Share options over ordinary 
       instrument, type            shares of 0.25p each 
       of instrument 
                                   GB00B547ZY09 
       Identification 
       code 
---  -------------------------  ------------------------------ 
 b)   Nature of the              Award of share options over 
       transaction                ordinary shares 
---  -------------------------  ------------------------------ 
 c)   Price(s) and volume(s)       Price(s)      Volume(s) 
                                   ------------  ---------- 
                                    4.05 pence    3,500,000 
                                   ------------  ---------- 
---  -------------------------  ------------------------------ 
 d)   Aggregated information 
 
       - Aggregated volume         Not applicable 
 
       - Price 
---  -------------------------  ------------------------------ 
 e)   Date of the transaction    2 January 2018 
---  -------------------------  ------------------------------ 
 f)   Place of the transaction   Off market 
---  -------------------------  ------------------------------ 
 
 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ---------------------------------------------------------- 
 a)   Name                       G D Tracey 
---  -------------------------  ------------------------------- 
 2    Reason for the notification 
---  ---------------------------------------------------------- 
 a)   Position/status            PDMR - 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               Share options over ordinary 
       instrument, type            shares of 0.25p each 
       of instrument 
                                   GB00B547ZY09 
       Identification 
       code 
---  -------------------------  ------------------------------- 
 b)   Nature of the              Award of share options over 
       transaction                ordinary shares 
---  -------------------------  ------------------------------- 
 c)   Price(s) and volume(s)       Price(s)      Volume(s) 
                                   ------------  ---------- 
                                    4.05 pence    1,000,000 
                                   ------------  ---------- 
---  -------------------------  ------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume         Not applicable 
 
       - Price 
---  -------------------------  ------------------------------- 
 e)   Date of the transaction    2 January 2018 
---  -------------------------  ------------------------------- 
 f)   Place of the transaction   Off market 
---  -------------------------  ------------------------------- 
 
 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  --------------------------------------------------------- 
 a)   Name                       B J Metcalf 
---  -------------------------  ------------------------------ 
 2    Reason for the notification 
---  --------------------------------------------------------- 
 a)   Position/status            PDMR - 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               Share options over ordinary 

       instrument, type            shares of 0.25p each 
       of instrument 
                                   GB00B547ZY09 
       Identification 
       code 
---  -------------------------  ------------------------------ 
 b)   Nature of the              Award of share options over 
       transaction                ordinary shares 
---  -------------------------  ------------------------------ 
 c)   Price(s) and volume(s)       Price(s)      Volume(s) 
                                   ------------  ---------- 
                                    4.05 pence    1,000,000 
                                   ------------  ---------- 
---  -------------------------  ------------------------------ 
 d)   Aggregated information 
 
       - Aggregated volume         Not applicable 
 
       - Price 
---  -------------------------  ------------------------------ 
 e)   Date of the transaction    2 January 2018 
---  -------------------------  ------------------------------ 
 f)   Place of the transaction   Off market 
---  -------------------------  ------------------------------ 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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January 03, 2018 02:00 ET (07:00 GMT)