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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Aevi Genomic Medicine Inc | NASDAQ:GNMX | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.1659 | 0.1601 | 0.165 | 0 | 01:00:00 |
Medgenics, Inc. (NYSE Amex: MDGN and AIM: MEDU, MEDG), the developer of a novel technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue, announces that, pursuant to approvals given at a Board meeting held on 9 December 2011, on 3 January 2012 it (i) granted options to subscribe for 15,000 common shares (“Options”) and (ii) made a restricted share award of 7,000 common shares of par value US$0.0001 each (“Common Shares”) in the Company (“Restricted Shares”) to each of Isaac Blech, Gary Brukardt, Alastair Clemow, Joel Kanter, and Stephen McMurray, all non-executive directors of the Company, as part of their remuneration for the year.
50% of these Restricted Shares will be vested immediately and the remaining 50% will be vested one year from the date awarded, 3 January 2012 (the “Reference Date”). All of the Options are for a term of 10 years commencing on the Reference Date, vest in equal instalments on each of the first three anniversaries of the Reference Date and have an exercise price of US$2.66 or, based on an exchange rate of £1=US$1.55837, 172 pence per Common Share, being the average of the MDGN closing price for the ten trading days prior to the Reference Date as reported on NYSE Amex.
These awards of Restricted Shares and options grants were made pursuant to the terms of the Company’s 2006 Stock Incentive Plan (the “2006 Stock Plan”) previously approved by the Company’s stockholders and in accordance with the Board approved non-executive director compensation program, adopted on 22 March 2010 and amended on 9 December 2011, which provides for each non-executive director: annual grants of options to purchase 15,000 Common Shares and awards of 7,000 Restricted Shares; an annual cash retainer fee of $12,000; and meeting attendance fees ranging from $1,000 to $2,500 per meeting, depending on the location and type of meeting. In addition, committee chairmen are entitled to an annual cash fee of $2,000.
The Company has also issued and allotted 15,034 shares in lieu of payments to service providers and interest on debentures and it is expected that these, together with the 35,000 shares awarded to non-executive directors will be admitted to AIM on 12 January under the MEDG line.
As part of its annual review of executive compensation and pursuant to the terms of the 2006 Stock Plan, the Compensation Committee of the Board also approved at its meeting on 9 December 2011 the issuance of options to purchase an aggregate of 80,000 Common Shares to Andrew Pearlman, CEO and a director of the Company. These options are for a term of 10 years commencing on December 9, 2011 (the “Effective Date”), vest in equal instalments on each of the first four anniversaries of the Effective Date and have an exercise price of US$3.14 or, based on an exchange rate of £1=US$1.55837, 201 pence per Common Share, being the average of the MDGN closing price for the ten trading days prior to the Effective Date as reported on NYSE Amex.
This announcement is being made pursuant to the London Stock Exchange’s AIM Rules for Companies admitted to trading on the AIM market.
Following the award of the Restricted Shares and grant of the Options to the non-executive Directors and the grant of options to Andrew Pearlman, the interests of the directors of the Company and their related parties and other significant shareholders in the Common Shares of which the Company is aware will be as follows:
Name Common Shares % of Issued Share Capital Instrument Number Expiry Date Exercise Price Total interests % of Issued Share CapitalIsaac Blech & related parties1
1,645,471 Warrant 230,357 22/9/2015 $4.54 Total Warrant 1,000,000 12/4/2016 $6.00 Options 19,068 10/12/2020 $6.65 Options 15,000 2/1/2022 $2.66 7,000* 1,652,471 16.9% 1,264,425 2,916,896 29.9% Joel S. Kanter (Director) & related parties2 1,147,943 Warrant 26,785 22/9/2015 $4.54 Warrant 2,755 13/2/2012 $8.75 Warrant 15,540 12/4/2016 $4.99 Options 48,803 14/11/2012 $7.35 Warrant 12,857 30/1/2012 $8.75 Options 12,857 11/1/2021 $6.55 Options 28,571 14/9/2020 $8.19 Options 15,000 2/1/2022 $2.66 7,000* Total 1,154,943 11.8% Options 163,078 1,318,021 13.5% Andrew L. Pearlman (Director) & related parties4 35,375 Warrant 35,922 31/3/2016 $0.0002 Warrant 905,190 31/3/2016 $2.49 Options 182,806 31/3/2016 $2.49 Options 91,403 14/11/2012 $7.35 Options 80,000 12/9/2021 $3.14 Total 35,375 0.4% 1,295,321 1,330,696 13.7% The Executors of Lord Leonard Steinberg's estate & Steinberg family 606,553 Warrant 32,742 31/5/2012 $5.37 Warrant 21,828 12/04/2012 $5.37 Warrant 23,784 12/04/2012 $5.65 Warrant 21,885 4/12/2016 $4.99 Warrant 12,857 30/1/2012 $8.75 Total 606,553 6.2% 113,096 719,649 7.4% Chicago Investments, Inc.3 637,008 Warrant 5,357 22/9/2015 $4.54 Warrant 8,368 12/4/2016 $4.99 Total 637,008 6.5% 13,725 650,733 6.7% Andrew Cader 350,000 Warrant 264,000 12/4/2016 $6.00 614,000 6.3% Total 350,000 3.6% 264,000 614,000 6.3% CIBC Trust Company (Bahamas) Limited, as Trustee of T-5553 349,386 Warrant 10,714 22/9/2015 $4.54 Total Warrant 12,857 30/1/2012 $8.75 Warrant 5,150 12/4/2016 $4.99 349,386 3.6% 28,721 378,107 3.9% Eugene A. Bauer (Director) 133,276 Options 82,327 14/11/2012 $7.35 Options 28,571 14/9/2020 $8.19 52,142* Total 190,418 2.0% 110,898 301,316 3.1% Stephen D. McMurray (Director) 72,835 Warrant 644 12/4/2016 $4.99 Options 33,052 14/11/2012 $7.35 Options 12,857 11/1/2021 $6.55 Options 28,571 14/9/2020 $8.19 Options 15,000 2/1/2022 $2.66 7,000* Total 79,835 0.8% 90,124 169,959 1.7% Gary Brukardt (Director) 66,077 Options 26,705 14/11/2012 $7.35 Options 12,857 11/1/2021 $6.55 Options 28,571 14/9/2020 $8.19 Options 15,000 2/1/2022 $2.66 7,000* Total 73,077 0.7% Options 83,133 156,210 1.6% Alastair Clemow (Director) - Options 12,857 13/9/2020 $8.19 Options 12,857 11/1/2021 $6.55 Options 15,000 1/2/2022 $2.66 7,000* Total 7,000- 0.1% 40,714 47,714 0.5%For the purpose of the AIM Rules, also included within the interests of Joel Kanter (Director).
For the purposes of applicable US Securities Laws and regulations, Mr. Kanter disclaims all beneficial and pecuniary interest to the Common Shares held by CII and CPI and the CIBC Trust. Such disclaimer does not affect Mr. Kanter's status as a discretionary beneficiary under the Kanter Trusts or the CIBC Trust.
4 Including interests in 94 Common shares held by family members and 1,719 Common Shares and warrants to subscribe for 35,922 Common shares held by ADP Holdings LLC, a company in which Andrew Pearlman is interested
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