LiDCO Group Plc Grant of share options/PDMR dealing (9989L)

TIDMLID

RNS Number : 9989L

LiDCO Group Plc

05 May 2020

LiDCO Group Plc

("LiDCO" or the "Company")

Grant of share options/PDMR dealing

LiDCO (AIM: LID), a leading supplier of hemodynamic monitoring solutions, announces that on 29 April 2020, the Board has agreed to grant options (the "Options") over ordinary shares of 0.5 pence each in the Company ("Ordinary Shares") to Tim Hall, Chief Financial Officer, as follows:

 
Earliest vesting        Type of option   Exercise    Number of         Percentage 
 date subject to                          price       options granted   of current 
 performance criteria                                                   issued share 
                                                                        capital 
29 April 2023 
 (A)                    EMI              0.5 pence   1,000,000         0.41% 
29 April 2024 
 (B)                    EMI              0.5 pence   1,000,000         0.41% 
Total                                                2,000,000         0.82% 
 

Performance conditions attached to the Options are described more fully in the notes below.

Prior to the grant of the above Options, Mr. Hall held options over 2,000,000 Ordinary Shares. Following the grant of the Options, Mr. Hall therefore now holds, in aggregate, options over 4,000,000 Ordinary Shares representing approximately 1.64 per cent. of the current issued share capital of the Company.

Additionally, on 29 April 2020, the Board agreed to grant share option to other key employees over a further 400,000 Ordinary Shares.

Following these grants, the Company will have a total of 21,768,340 share options outstanding, representing approximately 8.92% of the existing issued share capital of the Company.

As previously stated in the Directors Remuneration Report of the 2019/20 Annual Report, the measurement period for several share option grants issued to Mr Sassone, CEO, in April 2017 have been amended and as such no further options are being granted to Mr Sassone at this time.

Performance conditions attaching to the Options are as follows:

For each of the (A) and (B) awards, the proportion of the Options that vest depends on the average share price in the three month period to and including the first date of the relevant Exercise Window shown below (the "Average Share Price"). Provided the Average Share Price meets or exceeds the minimum price shown, then 15% of the options under that award become exercisable. If the Average Share Price is between the minimum threshold and the maximum vesting price, a straight-line sliding scale applies to determine the vested proportion of that award.

 
Option  Exercise       Average              Vesting proportion 
 Award   Window         Share Price:         of award 
(A)     29 April 2023  Equal to or greater  15%        100% 
         to 28 April    than 8.00p           at 8.00p   at 12.00p 
         2025 
(B)     29 April 2024  Equal to or greater  15%        100% 
         to 28 April    than 9.00p           at 9.00p   at 13.00p 
         2026 
 

Further information is disclosed in the table below in accordance with the requirements of the EU Market Abuse Regulation.

For further information, please contact:

 
LiDCO Group Plc                          www.lidco.com 
Matt Sassone (CEO)                       Tel: [phone] 
Tim Hall (CFO) 
 
N+1 Singer                               Tel: [phone] 
Aubrey Powell, George Tzimas (Corporate 
 Finance) 
Tom Salvesen (Corporate Broking) 
 
Walbrook PR Ltd                          Tel: [phone] or [e-mail] 
Paul McManus                             Mob: [phone] 
Lianne Cawthorne                         Mob: [phone] 
 
 
 
1.  Details of the person discharging managerial responsibilities/person 
     closely associated 
a)  Name:                                     Tim Hall 
2.  Reason for the notification 
a)  Position/status:                          Chief Financial Officer 
b)  Initial notification/Amendment:           Initial Notification 
3.  Details of the issuer, emission allowance market participant, 
     auction platform, auctioneer or auction monitor 
a)  Name:                                     LiDCO Group Plc 
b)  LEI:                                      213800PYQTIUV6HIYL36 
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 financial instrument,  Options over Ordinary Shares 
     type of instrument: 
     Identification code:                      GB0030546849 
b)  Nature of the transaction:                Grant of options 
c)  Price(s) and volume(s):                   Price(s)     Volume(s) 
                                               0.50 pence   2,000,000 
d)  Aggregated information:                   N/A single transaction 
     -- Aggregated volume: 
     -- Price: 
e)  Date of the transaction:                  4 May 2020 
f)  Place of the transaction:                 Outside a trading venue 
 

About LiDCO Group Plc ( www.lidco.com )

LiDCO is a supplier of non-invasive and minimally invasive hemodynamic equipment to hospitals used to monitor the amount of blood flowing around the body and ensure that vital organs are adequately oxygenated. LiDCO's products facilitate the application of hemodynamic optimisation protocols for high risk patients in both critical care units and in the operating theatre.

Increasingly clinical studies have shown that the optimisation of patients' hemodynamic status in high risk patients produces better outcomes and reduced hospital stay. LiDCO's computer-based technology, developed originally at St Thomas' Hospital in London, has been shown to significantly reduce morbidity and complications, length of stay and overall costs associated with major surgery.

In critical care, LiDCO's products have various in-built guided clinical protocols such as an end expiratory occlusion test (EEOT) and a tidal volume challenge (TVC), as a means to assess a patient's fluid status. These methods have been referenced by key opinion leaders as an important part of the treatment pathway for ventilated patients with the Covid-19 coronavirus in critical care.

Key Products:

LiDCOunity: a hemodynamic monitor that combines the full suite of LiDCO technology (non-invasive, minimally invasive and calibrated technologies) into one platform. Designed to have the flexibility to adapt to a patient's changing acuity, the product enables clinicians to seamlessly transition between non-invasive, minimally invasive and calibrated hemodynamic monitoring.

LiDCOplus : a computer-based platform monitor used in the Intensive Care Unit for real-time continuous display of hemodynamic parameters including cardiac output, oxygen delivery and fluid-volume responsiveness (PPV% and SVV%).

LiDCOrapid : a cardiac output monitor designed specifically for use in the operating theatre for fluid and drug management. The monitor enables anaesthetists to receive accurate and immediate feedback on the patient's fluid and hemodynamic status - a key measure of overall well-being before, during and after surgery. The LiDCOrapid provides:

-- early and rapid warning of hemodynamic change to aid choice of therapeutic route: fluid or drug

-- quantification of hemodynamic response guidance on effective delivery of fluids to ensure the right amount at the right time

The software incorporated into LiDCOrapid allows the LiDCOrapid monitor to co-display Medtronic's level of consciousness parameter ('BIS(TM') )* and add the convenience of CNSystem's continuous non-invasive blood pressure monitoring ('CNAP')**. This addresses a growing requirement for non-invasive monitoring solutions that are more comprehensive and can effectively replace multiple single parameter monitors.

LiDCOview : an easy-to-use graphical display of historical LiDCOplus and LiDCOrapid hemodynamic data.

*BIS (TM) and Bispectral Index are trademarks of Medtronic registered in the US and foreign countries.

**CNAP(TM) is a trademark of CNSystems Medizintechnik AG.

LiDCO monitors use single-patient disposables (sensors or smartcards) which provide an ongoing revenue stream.

LiDCO Distribution Network :

LiDCO sells directly to hospitals in the UK and USA and through a network of specialty critical care and anaesthesia distributors in the rest of the world.

LiDCO's headquarters are in London and its shares are traded on AIM.

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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May 05, 2020 10:20 ET (14:20 GMT)