Angle PLC ISSUE OF SHARE OPTIONS (2366Q)

TIDMAGL

RNS Number : 2366Q

Angle PLC

28 November 2016

 
 For immediate release   28 November 2016 
 

ANGLE plc

("ANGLE" or the "Company")

ISSUE OF SHARE OPTIONS

ANGLE plc (AIM: AGL; OTCQX: ANPCY), the specialist medtech company, announces that under the shareholder approved Remuneration Policy the Remuneration Committee has approved the issue of 1,500,000 share options to the Company's executive directors. The Remuneration Committee has also approved the issue of 1,805,000 share options to certain staff.

Following the issue of these share options, the Company will have outstanding options over a total of 10,365,806 ordinary shares of GBP0.10, representing approximately 11.6% of its issued and to be issued share capital. This leaves approximately 3.9 million options unallocated within the approved limit of up to 16% of the issued and to be issued share capital from time to time.

The exercise price for the new share options is 64.50 pence per share, representing the Company's closing mid-market share price on 25 November 2016, being the latest practicable date prior to this announcement. The options are subject to service and/or performance conditions.

The new share options granted to the executive directors have a term of ten years and are subject to the performance condition that the share price has risen by at least 100% from the share price when the option is issued.

Following the issue of the new share options, the total number of share options held by the executive directors of the Company will be:

 
                           Options issued    Total options 
                                             held following 
                                                 issue 
------------------------  ---------------  ---------------- 
 Andrew Newland, Chief 
  Executive                  1,000,000         4,023,826 
------------------------  ---------------  ---------------- 
 Ian Griffiths, Finance 
  Director                    500,000          2,046,980 
------------------------  ---------------  ---------------- 
 

The non-executive directors do not hold share options.

The below notification made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ----------------------------------------------------------- 
 a)   Name                        Andrew Newland 
---  --------------------------  ------------------------------- 
 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                        ANGLE 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          Ordinary shares of 10p each 
       financial instrument, 
       type of instrument 
                                   ISIN: GB0034330679 
       Identification code 
---  --------------------------  ------------------------------- 
 b)   Nature of the transaction   Grant of options over ordinary 
                                   shares at an exercise price 
                                   of 64.5p per share 
---  --------------------------  ------------------------------- 
 c)   Price(s) and volume(s)        Price(s)    Volume(s) 
                                    ----------  ---------- 
                                     Nil         1,000,000 
                                    ----------  ---------- 
---  --------------------------  ------------------------------- 
 d)   Aggregated information 
 
 
       - Aggregated volume          N/A 
 
 
       - Price 
---  --------------------------  ------------------------------- 
 e)   Date of the transaction     28 November 2016 
---  --------------------------  ------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
---  --------------------------  ------------------------------- 
 
 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ----------------------------------------------------------- 
 a)   Name                        Ian Griffiths 
---  --------------------------  ------------------------------- 
 2    Reason for the notification 
---  ----------------------------------------------------------- 
 a)   Position/status             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                        ANGLE 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          Ordinary shares of 10p each 
       financial instrument, 
       type of instrument 
                                   ISIN: GB0034330679 
       Identification code 
---  --------------------------  ------------------------------- 
 b)   Nature of the transaction   Grant of options over ordinary 
                                   shares at an exercise price 
                                   of 64.5p per share 
---  --------------------------  ------------------------------- 
 c)   Price(s) and volume(s)        Price(s)    Volume(s) 
                                    ----------  ---------- 
                                     Nil         500,000 
                                    ----------  ---------- 
---  --------------------------  ------------------------------- 
 d)   Aggregated information 
 
 
       - Aggregated volume          N/A 
 
 
       - Price 
---  --------------------------  ------------------------------- 
 e)   Date of the transaction     28 November 2016 
---  --------------------------  ------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
---  --------------------------  ------------------------------- 
 

For further information:

 
 ANGLE plc                            01483 685830 
 Andrew Newland, Chief Executive 
  Ian Griffiths, Finance Director 
 
 Cenkos Securities 
  Stephen Keys (Nominated adviser) 
  Russell Kerr, Olly Baxendale 
  (Sales)                             020 7397 8900 
 
 FTI Consulting 
  Simon Conway, Mo Noonan, 
   Stephanie Cuthbert                  020 3727 1000 
  Kimberley Ha (US)                     001 212 850 5612 
 

For Frequently Used Terms, please see the Company's website on http://www.angleplc.com/the-parsortix-system/glossary/

Notes for editors

   About ANGLE plc     www.angleplc.com 

ANGLE is a specialist medtech company commercialising a disruptive platform technology that can capture cells circulating in blood, such as cancer cells, even when they are as rare in number as one cell in one billion blood cells, and harvest the cells for analysis.

ANGLE's cell separation technology is called the Parsortix(TM) system and it enables a liquid biopsy (simple blood test) to be used to provide the cells of interest. Parsortix is the subject of granted patents in Europe, the United States, Canada, China and Australia and three extensive families of patents are being progressed worldwide. The system is based on a microfluidic device that captures live cells based on a combination of their size and compressibility. Parsortix has a CE Mark for Europe and FDA authorisation is in process for the United States.

ANGLE has established formal collaborations with world-class cancer centres. These Key Opinion Leaders are working to identify applications with medical utility (clear benefit to patients), and to secure clinical data that demonstrates that utility in patient studies. Details are available here http://www.angleplc.com/the-company/collaborators/

The analysis of the cells that can be harvested from patient blood with ANGLE's Parsortix system has the potential to help deliver personalised cancer care offering profound improvements in clinical and health economic outcomes in the treatment and diagnosis of various forms of cancer.

The global increase in cancer to a 1 in 3 lifetime incidence is set to drive a multi-billion dollar clinical market. The Parsortix system is designed to be compatible with existing major medtech analytical platforms and to act as a companion diagnostic for major pharma in helping to identify patients that will benefit from a particular drug and then monitoring the drug's effectiveness.

As well as cancer, the Parsortix technology has the potential for deployment with several other important cell types in the future.

ANGLE stock trades on the AIM market of the London Stock Exchange under the ticker symbol AGL and in New York on the OTC-QX under the ticker symbol ANPCY. For further information please visit: www.angleplc.com

This information is provided by RNS

The company news service from the London Stock Exchange

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November 28, 2016 02:00 ET (07:00 GMT)