Cambridge Cognition Holdings PLC Grant of Options (9873D)

TIDMCOG

RNS Number : 9873D

Cambridge Cognition Holdings PLC

02 November 2020

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 2 November 2020, the Company granted options ("Options") over a total of 246,774 ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") pursuant to the Company's EMI option scheme and the Company's unapproved option scheme.

Of these Options:

- 183,774 were granted to Persons Discharging Managerial Responsibilities ("PDMRs") on behalf of the Company;

 
 Name              Role                  Number       Total number        Total        Percentage 
                                        of Options      of Options        number        of Current 
                                         Granted      held following    of Ordinary    Issued Share 
                                                          Grant           Shares         Capital 
                                                                                           Held 
                   Chief Executive 
 Matthew Stork      Officer                103,774           693,061        125,000           0.40% 
                  ------------------  ------------  ----------------  -------------  -------------- 
                   Chief Operating 
 Fiona Cree         Officer                 20,000           176,857              -               - 
                  ------------------  ------------  ----------------  -------------  -------------- 
                   Chief Commercial 
 Richard Cooper     Officer                 60,000           171,786              -               - 
                  ------------------  ------------  ----------------  -------------  -------------- 
 
   -     63,000 were granted to other employees of the Company. 

All the Options granted to PDMRs are exercisable at a price of 53 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:

o 50% of the Options granted will vest if the average closing mid-market price of an Ordinary Share for any three month period exceeds 90 pence, with the price on the last day of that period being at least 80 pence, and the last day of this period being no later than 31 October 2023; and

o 50% of the Options granted will vest if the average closing mid-market price of an Ordinary Share for any three month period exceeds 130 pence, with the price on the last day of that period being at least 115 pence, and the last day of this period being no later than 31 October 2023.

Of the options granted to other employees of the Company:

1. 60,000 are exercisable at a price of 53 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:

o 50% of the Options granted will vest if the average closing mid-market price of an Ordinary Share for any three month period exceeds 90 pence, with the price on the last day of that period being at least 80 pence, and the last day of this period being no later than 31 October 2023; and

o 50% of the Options granted will vest if the average closing mid-market price of an Ordinary Share for any three month period exceeds 130 pence, with the price on the last day of that period being at least 115 pence, and the last day of this period being no later than 31 October 2023.

2. The remaining 3,000 options 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 2,476,636 representing approximately 7.95% 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 
                                              Fiona Cree - Chief Operating Officer 
                                              Richard Cooper - Chief Commercial 
                                              Officer 
                --------------------------  ---------------------------------------- 
            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 2 November 
                  type of instrument          2020 
                 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 - 103,774 Options 
                                              Fiona Cree - 20,000 options 
                                              Richard Cooper - 60,000 Options 
                --------------------------  ---------------------------------------- 
 d)              Aggregated information:     n/a 
                   *    Aggregated volume 
 
 
                   *    Price 
                --------------------------  ---------------------------------------- 
 e)              Date of the transaction     2 November 2020 
                --------------------------  ---------------------------------------- 
 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     Tel: [phone] 
  IR) 
 Tim Metcalfe/ Graham Herring/ Zach Cohen 
 

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November 02, 2020 09:55 ET (14:55 GMT)