Midatech Pharma PLC Grant of Options (1648Q)

TIDMMTPH

RNS Number : 1648Q

Midatech Pharma PLC

17 June 2020

17 June 2020

Midatech Pharma PLC

("Midatech" or the "Company")

Grant of Options

PDMR dealings

Midatech Pharma PLC (AIM: MTPH.L; Nasdaq: MTP), a drug delivery technology company focused on improving the bio-delivery and bio-distribution of medicines announces that options over a total of 1,401,000 ordinary shares of 0.1 pence each in the capital Company have been granted to employees under the 2014 Midatech Pharma plc Enterprise Management Incentive Scheme ("Options").

Of these Options, 500,000 in aggregate have been granted to two executives designated as PDMRs; Stephen Stamp, Chief Executive Officer, Chief Financial Officer and director of the Company and Steve Damment, Executive Vice President of R&D resulting in them having the following interests in the Company:

 
Director             Award of Options  Resulting interest  Current shareholding 
                                               in options        in the Company 
Stephen Stamp - 
 Chief Executive 
 Officer, Chief 
 Financial Officer            300,000             350,000                50,000 
Steve Damment - 
 Executive Vice 
 President, R&D               200,000             222,890                 2,000 
 

The Options have an exercise price of 20.2 pence per share. The Options will vest 25% upon the one year anniversary of grant, with the remainder vesting in 12 equal tranches quarterly over the following three years. Once vested, the options will be exercisable until 16 June 2030.

The Options granted represent 3.6 per cent. of the issued share capital.

In addition to the Options, in order to incentivise and retain certain employees during the ongoing Strategic Review, the Remuneration Committee has agreed that a cash bonus would become payable upon the successful sale of the Company or a sale of all or substantially all the assets of Midatech, or upon the solvent winding up of the Company, based on the value of such exit event.

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                    Stephen Stamp 
      -------------------------------------  ---------------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------------------- 
 a)    Position/status                        Chief Executive Officer, Chief Financial 
                                               Officer 
      -------------------------------------  ---------------------------------------------- 
 b)    Initial notification                   Initial notification 
        /Amendment 
      -------------------------------------  ---------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------------------- 
 a)    Name                                   Midatech Pharma plc 
      -------------------------------------  ---------------------------------------------- 
 b)    LEI                                    549300GKR2G40H3QFY57 
      -------------------------------------  ---------------------------------------------- 
 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                     Options over Ordinary shares of 0.1 
        financial instrument,                  pence each in Midatech Pharma plc 
        type of instrument 
 
       Identification code                    GB00BKT14T00 
 
 b)    Nature of the transaction              Grant of Options over Ordinary shares 
      -------------------------------------  ---------------------------------------------- 
 c)    Price(s) and volume(s) 
                                              ---------------------  -------------------- 
                                               Price(s)               Volume(s) 
                                              ---------------------  -------------------- 
                                               20.2 p                 300,000 
                                              ---------------------  -------------------- 
 
 d)    Aggregated information 
 
  - Aggregated volume                    As above 
 
  - Price 
 
 e)    Date of the transaction                17 June 2020 
      -------------------------------------  ---------------------------------------------- 
 f)    Place of the transaction               Off market transaction 
      -------------------------------------  ---------------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                   Steve Damment 
      -------------------------------------  ------------------------------------------- 
 2     Reason for the notification 
      ---------------------------------------------------------------------------------- 
 a)    Position/status                        Executive Vice President, R&D 
      -------------------------------------  ------------------------------------------- 
 b)    Initial notification                   Initial notification 
        /Amendment 
      -------------------------------------  ------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ---------------------------------------------------------------------------------- 
 a)    Name                                   Midatech Pharma plc 
      -------------------------------------  ------------------------------------------- 
 b)    LEI                                    549300GKR2G40H3QFY57 
      -------------------------------------  ------------------------------------------- 
 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                     Options over Ordinary shares of 0.1 
        financial instrument,                  pence each in Midatech Pharma plc 
        type of instrument 
 
       Identification code                    GB00BKT14T00 
 
 b)    Nature of the transaction              Grant of Options over Ordinary shares 
      -------------------------------------  ------------------------------------------- 
 c)    Price(s) and volume(s) 
                                              -------------------  ------------------- 
                                               Price(s)             Volume(s) 
                                              -------------------  ------------------- 
                                               20.2 p               200,000 
                                              -------------------  ------------------- 
 
 d)    Aggregated information 
 
  - Aggregated volume                    As above 
 
  - Price 
 
 e)    Date of the transaction                17 June 2020 
      -------------------------------------  ------------------------------------------- 
 f)    Place of the transaction               Off market transaction 
      -------------------------------------  ------------------------------------------- 
 

For more information, please contact:

 
  Midatech Pharma PLC 
 Stephen Stamp, CEO, CFO 
 Tel: [phone] 
 www.midatechpharma.com 
 
 Panmure Gordon (UK) Limited (Nominated Adviser and Broker) 
 Freddy Crossley, Emma Earl (Corporate Finance) 
 James Stearns (Corporate Broking) 
 
 Turner Pope Investments (TPI) Limited (Joint Broker) 
 Andrew Thacker (Corporate Broking) 
 Tel: [phone] 
 IFC Advisory Limited (Financial PR and UK Investor Relations) 
 Tim Metcalfe / Graham Herring 
 Tel: [phone] 
 Email: [e-mail] 
 
 Edison Group (US Investor Relations) 
  Joseph Green/ Laine Yonker 
  Tel: [phone] 
  [e-mail]/ [e-mail] 
 
 

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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June 17, 2020 02:00 ET (06:00 GMT)