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RUA Life Sciences PLC Grant of EMI Share Options

05/02/2021 7:00am

UK Regulatory (RNS & others)


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RNS Number : 0810O

RUA Life Sciences PLC

05 February 2021

5 February 2021

RUA Life Sciences Plc

("RUA Life Sciences", the "Company" or the "Group")

Grant of EMI Share Options

RUA Life Sciences, the holding company of a group of medical device businesses focused on the exploitation of the patented long-term implantable biostable polymer, Elast-Eon(TM) , announces that it has granted, in aggregate, 330,000 share options over ordinary shares of GBP0.05 ("Ordinary Shares") (the "Options") to an executive Director and certain employees of the Group, as detailed below.

135,000 Options have been awarded to Dr Caroline Stretton, Group Chief Operating Officer and PDMR of the Company, and a further 195,000 Options have been awarded to members of RUA Medical's leadership team. The Options are issued under the Company's EMI Share Option Plan as summarised in Part IV of the Company's circular dated 22 May 2018 and approved by shareholders at the Company's general meeting on 8 June 2018 (the "Scheme").

The exercise price of the Options is 155 pence per share, representing the closing mid-market price per Ordinary Share on the day preceding the release of this announcement.

The key vesting terms are that: 20 per cent. of the Options granted vest after 3 years; 30 per cent. upon the Group receiving either CE Marking or FDA approval for one of its devices in development; and the balance of 50 per cent. on the Company's share price being at least GBP3.00 per share for ten consecutive trading days. If the Option holder ceases to be a director or employee of the Company as appropriate after the relevant vesting date, the Options lapse 90 days after cessation unless the Board resolves to allow exercise within that period.

As recommended under the QCA Corporate Governance Code, the Board has consulted with the Company's major shareholders who are supportive of the Options award.

Including the new 330,000 Options, the Company has outstanding awards over 2,280,603 Ordinary Shares, representing approximately 10.3% of the Company's current issued share capital.

For further information contact:

RUA Life Sciences

   Bill Brown, Chairman                                                      Tel: +44 (0) 77 3071 8296 
   David Richmond, CEO                                                     Tel: +44 (0) 78 9999 6400 

Shore Capital (Nominated Adviser and Joint Broker)

   Tom Griffiths/David Coaten                                          Tel: +44 (0)20 7408 4080 
   Cenkos Securities plc  (Joint Broker)                             Tel: +44 (0) 20 7397 8900 

Russell Cook/Max Gould (Corporate Finance)

Michael Johnson (Sales)

About RUA Life Sciences

The RUA Life Sciences group was created in April 2020 when RUA Life Sciences Plc (formerly known as AorTech International Plc) acquired RUA Medical Devices Limited to create a fully formed medical device business. RUA Life Sciences is the holding company of the Group's four trading businesses, each exploiting the Group's patented polymer technology.

Our vision is to improve the lives of millions of patients by improving and enabling medical devices with Elast-Eon(TM) , the world's leading long-term implantable polyurethane.

Whether it is licensing Elast-Eon(TM) , manufacturing a device or component or developing next generation medical devices, a RUA Life Sciences business is pursuing our vision.

Elast-Eon(TM)'s biostability is comparable to silicone while exhibiting excellent mechanical, blood contacting and flex-fatigue properties. These polymers can be processed using conventional thermoplastic extrusion and moulding techniques. With over 7 million implants and over 14 years of successful clinical use, RUA's polymers are proven in long-term life enabling applications.

The Group's four business units are:

 
 RUA Medical :      End-to-end contract developer and manufacturer 
                     of medical devices and implantable fabric specialist. 
 RUA Biomaterials   Licensor of Elast-Eon(TM) polymers to the medical 
  :                  device industry. 
 RUA Vascular:      Commercialisation of large bore polymer sealed 
                     grafts and soft tissue patches. 
 RUA Structural     Development of polymeric leaflet systems for 
  Heart :            heart valves. 
 
 
 1.    Details of PDMR/person closely associated with them ('PCA') 
====  ====================================================================================== 
 a)    Name                                      Dr Caroline Stretton 
====  =========================================  =========================================== 
 b)    Position/status                           Group Chief Operating Officer / PDMR 
====  =========================================  =========================================== 
 c)    Initial notification/                     Initial notification 
        amendment 
====  =========================================  =========================================== 
 2.    Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
====  ====================================================================================== 
 a)    Name                                      RUA Life Sciences plc 
====  =========================================  =========================================== 
 b)    LEI                                       213800BMVB22PVOJ9Z28 
====  =========================================  =========================================== 
 3.    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 transaction(s) 
        has been conducted 
====  ====================================================================================== 
 a)    Description of the                        Option over ordinary shares of 5 pence 
        financial instrument                      each 
                                                  ISIN: GB0033360586 
====  =========================================  =========================================== 
 b)    Nature of the transaction                 Award of Options. 
====  =========================================  =========================================== 
 c)    Price(s) and volume(s)                     Price(s)             Volume(s) 
====  =========================================   ===================  =================== 
                                                  155p                 135,000 
                                                  ===================  =================== 
 
 d)    Aggregated information                    N/A (single transaction) 
==== 
  Aggregated volume 
   Price 
 ==========================================  =============================================== 
 e)    Date of the transaction                   4 February 2020 
====  =========================================  =========================================== 
 f)    Place of the transaction                  UK 
====  =========================================  =========================================== 
 

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