Cambridge Cognition Holdings PLC Grant of Options (8708R)

TIDMCOG

RNS Number : 8708R

Cambridge Cognition Holdings PLC

31 October 2019

Cambridge Cognition Holdings Plc

('Cambridge Cognition' or the 'Company')

Grant of Options

Cambridge Cognition Holdings plc (AIM: COG), which develops and markets digital solutions to assess brain health, announces that on 30 October 2019, the Company granted options ("Options") over a total of 755,215 ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") pursuant to the Company's EMI option scheme (the "Grant").

Of these Options:

- 750,715 were granted to Persons Discharging Managerial Responsibilities ("PDMRs") on behalf of the Company, as follows:

 
 Name             Role                       Number of             Total          Total   Percentage 
                                       Options granted            number         number       of the 
                                                              of options    of Ordinary      current 
                                                          held following         Shares       issued 
                                                               the Grant           held        share 
                                                                                             capital 
                                                                                                held 
                  Chief Executive 
 Matthew Stork     Officer                     392,858           392,858         50,000        0.21% 
                 ------------------  -----------------  ----------------  -------------  ----------- 
                  Chief Technology 
 Ricky Dolphin     Officer                      98,213           172,113              -            - 
                 ------------------  -----------------  ----------------  -------------  ----------- 
 Jennifer         Chief Scientific 
  Barnett          Officer                      90,000           141,500          7,213        0.03% 
                 ------------------  -----------------  ----------------  -------------  ----------- 
                  Director of 
 Malcolm Gates     Group Finance                89,287           140,787              -            - 
                 ------------------  -----------------  ----------------  -------------  ----------- 
                  Global Head 
                   of Clinical 
 Fiona Cree        Science                      80,357            80,357              -            - 
                 ------------------  -----------------  ----------------  -------------  ----------- 
 
   -     4,500 were granted to other employees of the Company. 

All of the Options granted to PDMRs are exercisable at a price of 28 pence per Ordinary Share from three years following the date of award until the tenth anniversary of the date of award, subject to satisfying the following performance criteria:

- 50% of the Options granted will vest if the average closing mid-market price of an Ordinary Share for any three month period exceeds 100 pence, with the price on the last day of that period being at least 90 pence, and the last day of this period being no later than 30 September 2022; and

- 50% of the Options granted will vest if the average closing mid-market price of an Ordinary Share for any three month period exceeds 150 pence, with the price on the last day of that period being at least 135 pence, and the last day of this period being no later than 30 September 2022.

The remaining 4,500 Options awarded to other employees are exercisable at a price of 1 pence per Ordinary Share from two years following the date of award until the tenth anniversary of the date of award. All of these Options are granted over shares already in issue and held by Cambridge Cognition Trustees Limited on behalf of the Employee Benefit Trust.

Following the grant of Options, the total number of Options outstanding over unissued Ordinary Shares is 1,689,821, representing approximately 6.99% of the Company's issued share capital.

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

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

 
            1.   Details of the person discharging managerial responsibilities 
                  / person closely associated 
 a)              Names                       Matthew Stork Chief Executive Officer 
                                              Ricky Dolphin Chief Technology Officer 
                                              Jennifer Barnett Chief Scientific 
                                              Officer 
                                              Malcolm Gates Director of Group Finance 
                                              Fiona Cree Global Head of Clinical 
                                              Science 
                --------------------------  ----------------------------------------- 
            2.   Reason for the Notification 
                --------------------------------------------------------------------- 
 a)              Position/status             See 1(a) above for positions - all 
                                              classified as PDMRs of the Company 
                --------------------------  ----------------------------------------- 
 b)              Initial notification/       Initial Notification 
                  Amendment 
                --------------------------  ----------------------------------------- 
 3.              Details of the issuer, emission allowance market participant, 
                  auction platform, auctioneer or auction monitor 
                --------------------------------------------------------------------- 
 a)              Name                        Cambridge Cognition Holdings Plc 
                --------------------------  ----------------------------------------- 
 b)              LEI                         213800SZKDIN122EPA96 
                --------------------------  ----------------------------------------- 
 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          In each case, the grant of Options 
                  Financial instrument,       over Ordinary Shares on 30 October 
                  type of instrument          2019 
                 Identification code         GB00B8DV9647 
                --------------------------  ----------------------------------------- 
 b)              Nature of the transaction   Grant of Options over Ordinary Shares 
                --------------------------  ----------------------------------------- 
 c)              Price(s) and volume(s)      Price: n/a 
                                              Volumes: 
                                              Matthew Stork 392,858 options 
                                              Ricky Dolphin 98,213 options 
                                              Jennifer Barnett 90,000 options 
                                              Malcolm Gates 89,287 options 
                                              Fiona Cree 80,357 options 
                --------------------------  ----------------------------------------- 
 d)              Aggregated information:     n/a 
                   *    Aggregated volume 
 
 
                   *    Price 
                --------------------------  ----------------------------------------- 
 e)              Date of the transaction     30 October 2019 
                --------------------------  ----------------------------------------- 
 f)              Place of the transaction    Outside a trading venue 
                --------------------------  ----------------------------------------- 
 

The information communicated in this announcement is inside information for the purposes of Article 7 of EU Regulation 596/2014

Enquiries

 
 Cambridge Cognition Holdings PLC 
 Matthew Stork, Chief Executive Officer       Tel: [phone] 
  Nick Walters, Chief Financial Officer        [e-mail] 
 
 finnCap Ltd (NOMAD and Joint Broker)         Tel: [phone] 
 Geoff Nash / Simon Hicks                     (Corporate Finance) 
 Alice Lane/ Manasa Patil                     (Corporate Broking) 
 Dowgate Capital Limited (Joint Broker)       Tel: [phone] 
  David Poutney/ James Serjeant                (Corporate Broking) 
 
 IFC Advisory Limited (Financial PR and IR)   Tel: [phone] 
 Tim Metcalfe/ Graham Herring/ Zach Cohen 
 

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 [e-mail] or visit www.rns.com.

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October 31, 2019 12:17 ET (16:17 GMT)