Biome Technologies PLC Proposed issue of shares to directors and dealings (9325M)

TIDMBIOM

RNS Number : 9325M

Biome Technologies PLC

02 May 2018

Prior to its publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under Article 7 of the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). In addition, market soundings (as defined in MAR) were taken in respect of the Proposed Share Issue and the Proposed Share Sale (as defined below) with the result that certain persons became aware of inside information, as permitted by MAR. With the publication of this announcement, this information is now considered to be in the public domain and those persons who received inside information in a market sounding are no longer in possession of such inside information relating to the Company and its securities.

2 May 2018

Biome Technologies plc

("Biome", "the Company" or "the Group")

Proposed issue of shares to directors and PDMR dealings

The Company announces that, subsequent to the AGM and approval of the 2017 annual report, its executive directors, Paul Mines and Declan Brown, have elected to take their bonus entitlement for 2017 in shares instead of cash and have committed not to sell these shares for a period of at least 12 months (other than to settle tax liabilities directly associated with this issue of shares).

Following the completion of the issue of shares (the "Proposed Share Issue") and a sale to settle tax liabilities (the "Proposed Share Sale") it is intended that Paul Mines will increase his holding of ordinary shares in the Company by 4,640 ordinary shares and will hold 26,525 ordinary shares in the Company, representing 1.12% of the Company's enlarged ordinary issued share capital.

Following the completion of the Proposed Share Issue and the Proposed Share Sale, Declan Brown will increase his holding of ordinary shares in the Company by 3,262 ordinary shares and will hold 3,970 ordinary shares in the Company, representing 0.17% of the Company's enlarged ordinary share capital.

The details of the proposed transactions are as follows:

-- Under the Proposed Share Issue it is intended that Paul Mines, Chief Executive Officer, will be issued 9,192 ordinary shares and Declan Brown, Group Finance Director, will be issued 6,460 ordinary shares.

-- Under the Proposed Share Sale, in order to settle tax liabilities that will be directly associated with the Proposed Share Issue, Paul Mines intends to sell 4,552 ordinary shares and Declan Brown intends to sell 3,198 ordinary shares.

Application has been made to the London Stock Exchange for admission of the 15,652 new ordinary shares ("Admission") and, subject to issue and allotment of these shares, dealings on AIM are expected to occur on or around 4 May 2018. Following the issue and allotment of these shares the total issued share capital and total voting rights of the Company will be 2,363,188 ordinary shares with voting rights.

-Ends-

 
 
 
 
   For further information please 
   contact: Biome Technologies plc 
 
   Paul Mines, Chief Executive Officer 
 Declan Brown, Group Finance Director 
 www.biometechnologiesplc.com   Tel: [phone] 
                                 867 100 
 
   Allenby Capital 
 David Hart/Alex Brearley (Nominated 
  Adviser) 
  Kelly Gardiner (Broker) 
 www.allenbycapital.com         Tel: +44 (0) 20 
                                 3328 5656 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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May 02, 2018 10:27 ET (14:27 GMT)