Venture Life Group PLC 2017 Long Term Incentive Plan and Grant of Options (1808D)

TIDMVLG

RNS Number : 1808D

Venture Life Group PLC

25 April 2017

Venture Life Group plc

("Venture Life" or the "Company")

2017 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 granted further nominal-cost share options ("Options") over ordinary shares of 0.3p each in Venture Life Group plc ("Shares") under the Venture Life Group plc 2016 Long Term Incentive Plan ("LTIP"). These Options were issued on 24 April 2017 as detailed below.

Grant of Options

On 24 April 2017 (the "Date of Grant"), Venture Life granted Options over a total of 897,598 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 all dividends re-invested in Shares - "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 tranche of Options granted over a total of 897,598 Shares ("Grant") will ordinarily vest on 24 April 2020, subject to meeting the performance conditions set for the Company's EPS over the three financial years ending 31 December 2019 and TSR for the three years commencing 24 April 2017.

The Options are exercisable at a price of 0.3p per Share.

 
                                                             Total number 
                                          No. of Shares   of Shares under 
  Director          Position               under Option      options held 
                  Chief Executive 
Jerry Randall      Officer                      296,302           2,191,094 
Gianluca          Manufacturing 
 Braguti           Director                     238,237             656,445 
Sharon Collins    Commercial Director           197,534           1,911,136 
                  Chief Financial 
Adrian Crockett    Officer                      165,525             165,525 
                                        ---------------  ------------------ 
                                Total:          897,598           4,924,200 
 
 
 

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 
                                Adrian Crockett - 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              Ordinary Shares of 0.3p each 
       of 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 - Option over 
                                296,302 Ordinary Shares 
                                Gianluca Braguti - Option over 
                                238,237 Ordinary Shares 
                                Sharon Collins - Option over 
                                197,534 Ordinary Shares 
                                Adrian Crockett - Option over 
                                165,525 Ordinary Shares 
---  -----------------------  ----------------------------------- 
 d)   Aggregated information    N/a 
       - Aggregated 
       volume 
       - Price 
---  -----------------------  ----------------------------------- 
 e)   Date of the              24 April 2017 
       transaction 
---  -----------------------  ----------------------------------- 
 f)   Place of the             Outside a trading venue 
       transaction 
---  -----------------------  ----------------------------------- 
 

Name of authorised official of issuer responsible for making notification: Peter Shepherd, Company Secretary to Venture Life Group plc.

For further information please contact:

 
 Venture Life Group PLC                            [phone] 
 Jerry Randall, Chief Executive 
  Officer 
 Adrian Crockett, Chief Financial 
  Officer 
 
 Panmure Gordon (UK) Limited (Nominated                [phone] 
  Adviser and Joint Broker)                                       2500 
 Freddy Crossley/Peter Steel/Duncan 
  Monteith (Corporate Finance) 
 Tom Salvesen (Corporate Broking) 
 
 Turner Pope Investments (TPI) Ltd                     [phone] 
  (Joint Broker)                                                  4120 
 James Pope/Ben Turner 
 
 Walbrook PR                                [e-mail] 
                                                                    or 
                                                 + 44 (0) 20 7933 8780 
 Paul McManus/Anna Dunphy                   [phone] / +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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April 25, 2017 02:01 ET (06:01 GMT)