PuriCore Plc Grant of Options (5192P)

TIDMPURI

RNS Number : 5192P

PuriCore Plc

18 November 2016

PuriCore plc

("PuriCore" or the "Company")

Grant of Options

18 November 2016 - PuriCore plc (AIM: PURI), announces the grant of up to 1,425,000 share options to its directors to subscribe for ordinary shares of 10p each (the "Shares") in the capital of the Company (the "Options"). All Options were granted on 17 November 2016 (the "Grant Date"), have an exercise price of 29.50 pence each and a five year term.

Grants were made to Executive Directors, under the PuriCore Executive Omnibus Incentive Plan 2016 (the "Plan"), as noted below. The Options vest one-third per year on each of the first three anniversaries of the Grant Date on the basis of attainment of certain key performance measures relating to clinical development and other strategic targets, which will be evaluated on the relevant anniversaries.

 
 Name              Title                         Grant Amount 
 Alex Martin       Chief Executive Officer       Up to 500,000 Shares 
 Marella Thorell   Chief Financial & Operating   Up to 500,000 Shares 
                    Officer 
 

Grants were made to Non-Executive Directors, under individual agreements which are subject to the provisions of the Plan, as noted below. The Options vest one-third per year on each of the first three anniversaries of the Grant Date.

 
 Name                Role                               Grant Amount 
 Charles Spicer      Non-Executive Chairman             Up to 100,000 
                                                         Shares 
 William Birkett     Senior Independent Non-Executive   Up to 65,000 
                      Director                           Shares 
 Balkrishan(Simba)   Non-Executive Director             Up to 65,000 
  Gill                                                   Shares 
 Matthew Hammond     Non-Executive Director             Up to 65,000 
                                                         Shares 
 Daniel Hegglin      Non-Executive Director             Up to 65,000 
                                                         Shares 
 Peter Larkin        Non-Executive Director             Up to 65,000 
                                                         Shares 
 

Following the above grants there is a total of approximately 4.4 million options over ordinary shares outstanding which represents approximately 8.75% of the current issued share capital of the Company.

Enquiries:

 
 PuriCore plc                            [phone] 
 Alex Martin, Chief Executive Officer 
  Marella Thorell, Chief Financial 
  Officer and Chief Operating Officer 
 
 FTI Consulting                          [phone] 
 Simon Conway / Mo Noonan 
 
 N+1 Singer (Nominated Adviser 
  & Broker)                              [phone] 
 Aubrey Powell / Jen Boorer 
 

About PuriCore

PuriCore is an emerging specialty biopharmaceutical company focused on developing novel immunomodulatory therapies to protect and improve the lives of adults and children. The Company has initiated a drug development program, based on its proprietary hypochlorous acid technology at high concentrations. The Company believes their formulations have novel immunomodulatory activity with potential application for the treatment of diseases in a number of therapeutic areas including Dermatology and Ophthalmology.

 
 1     Details of the person discharging managerial 
        responsibilities/person closely associated 
        with them 
----  ------------------------------------------------------------------- 
 a)    Name                                    1. Alex Martin 
                                                2. Marella Thorell 
                                                3. Charles Spicer 
                                                4. William Birkett 
                                                5. Balkrishan (Simba) 
                                                Gill 
                                                6. Matthew Hammond 
                                                7. Daniel Hegglin 
                                                8. Peter Larkin 
----  ---------------------------------  -------------------------------- 
 2     Reason for notification 
----  ------------------------------------------------------------------- 
 a)    Position/status                         1. Chief Executive 
                                                Officer 
                                                2. Chief Financial 
                                                & Operating Officer 
                                                3. Non-Executive 
                                                Chairman 
                                                4. Senior Independent 
                                                Non-Executive Director 
                                                5. Non-Executive 
                                                Director 
                                                6. Non-Executive 
                                                Director 
                                                7. Non-Executive 
                                                Director 
                                                8. Non-Executive 
                                                Director 
----  ---------------------------------  -------------------------------- 
 b)    Initial notification/Amendment     Initial Notification 
----  ---------------------------------  -------------------------------- 
 3     Details of the issuer, emission allowance market 
        participant, auction platform, auctioneer or 
        auction monitor 
----  ------------------------------------------------------------------- 
 a)    Name                               PuriCore 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 the financial       Ordinary shares 
        instrument, type of instrument     in Puricore PLC 
        Identification code                ISIN: GB00B3XBCR18 
----  ---------------------------------  -------------------------------- 
 b)    Nature of transaction              Grant of options 
                                           over 1,425,000 shares 
                                           under the PuriCore 
                                           Executive Omnibus 
                                           Incentive Plan 2016 
                                           and individual agreements 
----  ---------------------------------  -------------------------------- 
 c)    Price(s) and volume(s)             Price(s)          Volume(s) 
----  ---------------------------------  ----------------  -------------- 
   1. 29.50 
    pence 
    2. 29.50 
    pence 
    3. 29.50 
    pence 
    4. 29.50 
    pence 
    5. 29.50                                                500,000 
    pence                                                    500,000 
    6. 29.50                                                 100,000 
    pence                                                    65,000 
    7. 29.50                                                 65,000 
    pence                                                    65,000 
    8. 29.50                                                 65,000 
    pence                                                    65,000 
  -------------------------------------------------------  -------------- 
 d)         Aggregated information        n/a (Single transaction) 
              *    Aggregated volume 
 
 
              *    Price 
----  ---------------------------------  -------------------------------- 
 e)    Date of the transaction            17 November 2016 
----  ---------------------------------  -------------------------------- 
 f)    Place of the transaction           Outside a trading 
                                           venue 
----  ---------------------------------  -------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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November 18, 2016 02:01 ET (07:01 GMT)