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ABDX Abingdon Health Plc

9.25
-0.50 (-5.13%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Abingdon Health Plc LSE:ABDX London Ordinary Share GB00BLF79J41 ORD 0.025P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50 -5.13% 9.25 9.00 9.50 9.50 9.25 9.50 125,825 08:31:41
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Chemicals & Chem Preps, Nec 4.05M -3.45M -0.0284 -3.26 11.26M

Abingdon Health PLC Award of Options under new LTIP Scheme (0738K)

19/12/2022 7:01am

UK Regulatory


Abingdon Health (LSE:ABDX)
Historical Stock Chart


From Mar 2022 to Mar 2024

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TIDMABDX

RNS Number : 0738K

Abingdon Health PLC

19 December 2022

Abingdon Health plc

("Abingdon" or "the Company")

Award of Options under new LTIP Scheme

York, U.K. 19 December 2022: Abingdon Health plc (AIM: ABDX), a leading international developer and manufacturer of high quality, rapid diagnostic tests, announces the establishment of a new Long Term Incentive Plan ("LTIP" or the "Plan") for certain directors and senior management in order to incentivise and encourage retention in a manner that aligns with the interests of the Company's shareholders. The new LTIP replaces the long term incentive plan established at the time of the Company's admission to AIM ("Existing Options") which has lapsed.

New Long Term Incentive Plan

Under the terms of the new LTIP, the Company has awarded share options ("Options") over a total of 4,119,285 ordinary shares of 0.025 pence each ("Ordinary Shares") to certain directors and senior management. There will be a three-year vesting period and options may be exercised at a price of 7 pence per Ordinary Share (being an 86 per cent. premium to the closing price on 16 December 2022). Vesting of the Options is conditional upon the business achieving certain revenue and adj. EBITDA performance criteria. The Options will become exercisable between 19 December 2025 and 19 December 2032.

The following individuals (each a person discharging managerial responsibilities ("PDMR")) have been awarded options:

 
  PDMR                    Role                       No. of options    No. of Existing 
                                                      awarded           Options Lapsed 
                          Chief Executive 
  Chris Yates              Officer                   1,285,714         390,625 
                        -------------------------  ----------------  ----------------- 
  Melanie Ross            Chief Financial            914,286           - 
                           Officer 
                        -------------------------  ----------------  ----------------- 
  Chris Hand              Non-Executive Chairman     428,571           - 
                        -------------------------  ----------------  ----------------- 
  Mark Jones              Chief Operating            600,000           - 
                           Officer 
                        -------------------------  ----------------  ----------------- 
  Nina Garrett            R&D Director               515,000           - 
                        -------------------------  ----------------  ----------------- 
  Candice Vendetuolli     Head of QARA               285,714           - 
                        -------------------------  ----------------  ----------------- 
  Natalie Thrush          Head of HR                 90,000            - 
                        -------------------------  ----------------  ----------------- 
 

Concert Party

Both Chris Yates and Chris Hand are deemed to be part of a concert party comprising certain directors, employees, former employees and other shareholders (the "Concert Party"). Where a Rule 9 Mandatory Offer would be required as a result of any future exercise, Chris Hand and Chris Yates have each confirmed in such circumstances that they would be prepared to irrevocably commit to immediately sell any new shares created ahead of exercise. In such circumstances, this would mean that their interests and the interest of the wider Concert Party in the Company would reduce as a result of the dilution created from the new shares issued, thereby meaning that a Mandatory Offer under Rule 9 would not be required. The Company has consulted with the Takeover Panel prior to implementation of the new LTIP.

As a result of these changes, the Company now has outstanding options over 4,333,858 Ordinary Shares equal to approximately 3.5 per cent. of the Company's issued share capital.

Enquiries:

 
  Abingdon Health plc                                     www.abingdonhealth.com/investors/ 
  Chris Yates, Chief Executive Officer                                      Via Walbrook PR 
  Melanie Ross , Chief Financial Officer 
  Chris Hand, Non-Executive Chairman 
 
  Singer Capital Markets (Sole Broker and                          Tel: +44 (0)20 7496 3000 
   Nominated Adviser) 
  Peter Steel, Alex Bond, Sam Butcher 
 
  Walbrook PR Limited                   Tel: +44 (0)20 7933 8780 or abingdon@walbrookpr.com 
  Paul McManus / Phillip Marriage                    Mob: +44 (0)7980 541 893 / +44 (0)7867 
   Alice Woodings                                                                   984 082 
                                                                        +44 (0)7407 804 654 
 
 

About Abingdon Health plc

Abingdon Health is a world leading developer and manufacturer of high-quality lateral flow rapid tests across all industry sectors, including healthcare and COVID-19. Abingdon is the partner of choice for a growing global customer base and takes projects from initial concept through to routine and large-scale manufacturing and has also developed and marketed its own labelled tests.

The Company offers product development, regulatory support, technology transfer and manufacturing services for customers looking to develop new assays or transfer existing laboratory-based assays to a lateral flow format. Abingdon Health aims to support the increase in need for rapid results across many industries and locations and produces lateral flow tests in areas such as infectious disease, clinical testing including companion diagnostics, animal health and environmental testing. Faster access to results allows for rapid decision making, targeted intervention and can support better outcomes. This ability has a significant role to play in improving life across the world. To support this aim Abingdon Health has also developed AppDx(R) , a customisable image capturing technology that transforms a smartphone into a self-sufficient, standalone lateral-flow reader.

Founded in 2008, Abingdon Health is headquartered in York, England.

For more information visit: www.abingdonhealth.com

 
  1      Details of the person discharging managerial responsibilities 
          / person closely associated 
  a)     Name                                   Chris Yates 
       -------------------------------------  ------------------------------------------- 
  2      Reason for the notification 
       ---------------------------------------------------------------------------------- 
  a)     Position/status                        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                                   Abingdon Health plc 
       -------------------------------------  ------------------------------------------- 
  b)     LEI                                    213800XFI4WV3FBILO20 
       -------------------------------------  ------------------------------------------- 
  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                     Ordinary Shares of 0.025 pence each 
          financial instrument, 
          type of instrument 
 
         Identification code                    GB00BLF79J41 
 
  b)     Nature of the transaction              Award of Options 
       -------------------------------------  ------------------------------------------- 
  c)     Price(s) and volume(s) 
                                               ------------------------  -------------- 
                                                 Price(s)                  Volume(s) 
                                               ------------------------  -------------- 
     Exercise price: 
      7.0p                                                                 1,285,714 
   --------------------------------------------------------------------  -------------- 
 
  d)     Aggregated information                 N/A single transaction 
 
   - Aggregated volume 
 
   - Price 
 
  e)     Date of the transaction                19 December 2022 
       -------------------------------------  ------------------------------------------- 
  f)     Place of the transaction               Outside a trading venue 
       -------------------------------------  ------------------------------------------- 
 
 
  1      Details of the person discharging managerial responsibilities 
          / person closely associated 
  a)     Name                                   Melanie Ross 
       -------------------------------------  ------------------------------------------- 
  2      Reason for the notification 
       ---------------------------------------------------------------------------------- 
  a)     Position/status                        Chief Financial Officer 
       -------------------------------------  ------------------------------------------- 
  b)     Initial notification                   Initial notification 
          /Amendment 
       -------------------------------------  ------------------------------------------- 
  3      Details of the issuer, emission allowance market participant, 
          auction platform, auctioneer or auction monitor 
       ---------------------------------------------------------------------------------- 
  a)     Name                                   Abingdon Health plc 
       -------------------------------------  ------------------------------------------- 
  b)     LEI                                    213800XFI4WV3FBILO20 
       -------------------------------------  ------------------------------------------- 
  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                     Ordinary Shares of 0.025 pence each 
          financial instrument, 
          type of instrument 
 
         Identification code                    GB00BLF79J41 
 
  b)     Nature of the transaction              Award of Options 
       -------------------------------------  ------------------------------------------- 
  c)     Price(s) and volume(s) 
                                               ------------------------  -------------- 
                                                 Price(s)                  Volume(s) 
                                               ------------------------  -------------- 
     Exercise price: 
      7.0p                                                                 914,286 
   --------------------------------------------------------------------  -------------- 
 
  d)     Aggregated information                 N/A single transaction 
 
   - Aggregated volume 
 
   - Price 
 
  e)     Date of the transaction                19 December 2022 
       -------------------------------------  ------------------------------------------- 
  f)     Place of the transaction               Outside a trading venue 
       -------------------------------------  ------------------------------------------- 
 
 
  1      Details of the person discharging managerial responsibilities 
          / person closely associated 
  a)     Name                                   Chris Hand 
       -------------------------------------  ------------------------------------------- 
  2      Reason for the notification 
       ---------------------------------------------------------------------------------- 
  a)     Position/status                        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                                   Abingdon Health plc 
       -------------------------------------  ------------------------------------------- 
  b)     LEI                                    213800XFI4WV3FBILO20 
       -------------------------------------  ------------------------------------------- 
  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                     Ordinary Shares of 0.025 pence each 
          financial instrument, 
          type of instrument 
 
         Identification code                    GB00BLF79J41 
 
  b)     Nature of the transaction              Award of Options 
       -------------------------------------  ------------------------------------------- 
  c)     Price(s) and volume(s) 
                                               ------------------------  -------------- 
                                                 Price(s)                  Volume(s) 
                                               ------------------------  -------------- 
     Exercise price: 
      7.0p                                                                 428,571 
   --------------------------------------------------------------------  -------------- 
 
  d)     Aggregated information                 N/A single transaction 
 
   - Aggregated volume 
 
   - Price 
 
  e)     Date of the transaction                19 December 2022 
       -------------------------------------  ------------------------------------------- 
  f)     Place of the transaction               Outside a trading venue 
       -------------------------------------  ------------------------------------------- 
 
 
         Details of the person discharging managerial responsibilities 
   1      / person closely associated 
  a)     Name                                     Mark Jones 
       ---------------------------------------  ------------------------------------------- 
         Reason for the notification 
   2 
       ------------------------------------------------------------------------------------ 
  a)     Position/status                          Chief Operating Officer 
       ---------------------------------------  ------------------------------------------- 
  b)     Initial notification                     Initial notification 
          /Amendment 
       ---------------------------------------  ------------------------------------------- 
         Details of the issuer, emission allowance market participant, 
   3      auction platform, auctioneer or auction monitor 
       ------------------------------------------------------------------------------------ 
  a)     Name                                     Abingdon Health plc 
       ---------------------------------------  ------------------------------------------- 
  b)     LEI                                      213800XFI4WV3FBILO20 
       ---------------------------------------  ------------------------------------------- 
         Details of the transaction(s): section to be repeated for (i) 
   4      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 of 0.025 pence each 
          instrument, type of 
          instrument 
 
         Identification code                      GB00BLF79J41 
 
  b)     Nature of the transaction                Award of Options 
       ---------------------------------------  ------------------------------------------- 
  c)     Price(s) and volume(s) 
                                                 ------------------------  -------------- 
                                                   Price(s)                  Volume(s) 
                                                 ------------------------  -------------- 
     Exercise price: 
      7.0p                                                                   600,000 
   ----------------------------------------------------------------------  -------------- 
 
  d)     Aggregated information                   N/A single transaction 
 
         - Aggregated volume 
 
         - Price 
 
  e)     Date of the transaction                  19 December 2022 
       ---------------------------------------  ------------------------------------------- 
  f)     Place of the transaction                 Outside a trading venue 
       ---------------------------------------  ------------------------------------------- 
 
         Details of the person discharging managerial responsibilities 
   1      / person closely associated 
       ------------------------------------------------------------------------------------ 
  a)     Name                                     Nina Garrett 
       ---------------------------------------  ------------------------------------------- 
         Reason for the notification 
   2 
       ------------------------------------------------------------------------------------ 
  a)     Position/status                          R&D Director 
       ---------------------------------------  ------------------------------------------- 
  b)     Initial notification                     Initial notification 
          /Amendment 
       ---------------------------------------  ------------------------------------------- 
         Details of the issuer, emission allowance market participant, 
   3      auction platform, auctioneer or auction monitor 
       ------------------------------------------------------------------------------------ 
  a)     Name                                     Abingdon Health plc 
       ---------------------------------------  ------------------------------------------- 
  b)     LEI                                      213800XFI4WV3FBILO20 
       ---------------------------------------  ------------------------------------------- 
         Details of the transaction(s): section to be repeated for (i) 
   4      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 of 0.025 pence each 
          instrument, type of 
          instrument 
 
         Identification code                      GB00BLF79J41 
 
  b)     Nature of the transaction                Award of Options 
       ---------------------------------------  ------------------------------------------- 
  c)     Price(s) and volume(s) 
                                                 ------------------------  -------------- 
                                                   Price(s)                  Volume(s) 
                                                 ------------------------  -------------- 
     Exercise price: 
      7.0p                                                                   515,000 
   ----------------------------------------------------------------------  -------------- 
 
  d)     Aggregated information                   N/A single transaction 
 
   - Aggregated volume 
 
   - Price 
 
  e)     Date of the transaction                  19 December 2022 
       ---------------------------------------  ------------------------------------------- 
  f)     Place of the transaction                 Outside a trading venue 
       ---------------------------------------  ------------------------------------------- 
 
 
  1      Details of the person discharging managerial responsibilities 
          / person closely associated 
  a)     Name                                   Candice Vendetoulli 
       -------------------------------------  ------------------------------------------- 
  2      Reason for the notification 
       ---------------------------------------------------------------------------------- 
  a)     Position/status                        Head of QARA 
       -------------------------------------  ------------------------------------------- 
  b)     Initial notification                   Initial notification 
          /Amendment 
       -------------------------------------  ------------------------------------------- 
  3      Details of the issuer, emission allowance market participant, 
          auction platform, auctioneer or auction monitor 
       ---------------------------------------------------------------------------------- 
  a)     Name                                   Abingdon Health plc 
       -------------------------------------  ------------------------------------------- 
  b)     LEI                                    213800XFI4WV3FBILO20 
       -------------------------------------  ------------------------------------------- 
  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                     Ordinary Shares of 0.025 pence each 
          financial instrument, 
          type of instrument 
 
         Identification code                    GB00BLF79J41 
 
  b)     Nature of the transaction              Award of Options 
       -------------------------------------  ------------------------------------------- 
  c)     Price(s) and volume(s) 
                                               ------------------------  -------------- 
                                                 Price(s)                  Volume(s) 
                                               ------------------------  -------------- 
     Exercise price: 
      7.0p                                                                 285,714 
   --------------------------------------------------------------------  -------------- 
 
  d)     Aggregated information                 N/A single transaction 
 
   - Aggregated volume 
 
   - Price 
 
  e)     Date of the transaction                19 December 2022 
       -------------------------------------  ------------------------------------------- 
  f)     Place of the transaction               Outside a trading venue 
       -------------------------------------  ------------------------------------------- 
 
 
  1      Details of the person discharging managerial responsibilities 
          / person closely associated 
  a)     Name                                   Natalie Thursh 
       -------------------------------------  ------------------------------------------- 
  2      Reason for the notification 
       ---------------------------------------------------------------------------------- 
  a)     Position/status                        Head of HR 
       -------------------------------------  ------------------------------------------- 
  b)     Initial notification                   Initial notification 
          /Amendment 
       -------------------------------------  ------------------------------------------- 
  3      Details of the issuer, emission allowance market participant, 
          auction platform, auctioneer or auction monitor 
       ---------------------------------------------------------------------------------- 
  a)     Name                                   Abingdon Health plc 
       -------------------------------------  ------------------------------------------- 
  b)     LEI                                    213800XFI4WV3FBILO20 
       -------------------------------------  ------------------------------------------- 
  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                     Ordinary Shares of 0.025 pence each 
          financial instrument, 
          type of instrument 
 
         Identification code                    GB00BLF79J41 
 
  b)     Nature of the transaction              Award of Options 
       -------------------------------------  ------------------------------------------- 
  c)     Price(s) and volume(s) 
                                               ------------------------  -------------- 
                                                 Price(s)                  Volume(s) 
                                               ------------------------  -------------- 
     Exercise price: 
      7.0p                                                                 90,000 
   --------------------------------------------------------------------  -------------- 
 
  d)     Aggregated information                 N/A single transaction 
 
   - Aggregated volume 
 
   - Price 
 
  e)     Date of the transaction                19 December 2022 
       -------------------------------------  ------------------------------------------- 
  f)     Place of the transaction               Outside a trading venue 
       -------------------------------------  ------------------------------------------- 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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END

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December 19, 2022 02:01 ET (07:01 GMT)

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