OKYO Pharma Limited Grant of options -- Director dealings (7629W)

TIDMOKYO

RNS Number : 7629W

OKYO Pharma Limited

21 August 2020

OKYO Pharma Limited

("OKYO" or the "Company")

Grant of options - Director dealings

London, 21 August, 2020 - OKYO Pharma Limited (LSE: OKYO) ("OKYO" or the "Company"), the life sciences and biotechnology company, focused on the discovery and development of novel molecules to treat inflammatory dry eye diseases and chronic pain, is pleased to announce, announces that the board of directors of the Company (the "Board" or "Directors"), with Mr Brancaccio absenting himself on grounds of interest, has awarded the following options on 20 August 2020.

(a) Keeren Shah

Ms Shah has been awarded options to acquire 300,000 ordinary shares in the capital of the Company. The options are exercisable at a price of 15.5 pence per share (being the mid-market closing price of the Company's shares traded on the LSE on 20 August 2020). The options will vest in equal tranches over four years beginning on the date of grant.

(b) John Brancaccio

Mr Brancaccio has been awarded options to acquire 450,000 ordinary shares in the capital of the Company. The options are exercisable at a price of 15.5 pence per share (being the mid-market closing price of the Company's shares traded on the LSE on 20 August 2020). The options will vest in equal tranches over four years beginning on the date of grant, subject to attainment of the criteria set out below. Mr Brancaccio has no existing interests in ordinary shares in the capital of the Company.

The options would vest over 4 years and in tranches so that each tranche would vest on a standalone or aggregated basis should the total shareholder return in each financial year be equal to, or exceed, 10%, as reported in the annual report and accounts for the Company for the relevant financial year and the first measurement period being in respect of the financial year ended 31 March 2021, with the decision as whether vesting had occurred to be taken on the business day following the publication of the relevant financial results.

The criteria for vesting are designed to align with shareholder interests and only to vest if shareholders benefit from enhanced value creation. The criteria of total shareholder return has been used as a performance benchmark on the basis that it is a figure which is independently audited annually.

This information set out below is provided in accordance with Article 19(3) of EU Regulation 596/2014.

 
 1.   Details of PDMR / person closely associated 
 a)   Name                (i) Keeren Shah 
                           (ii) John Brancaccio 
     ------------------  -------------------------------------------- 
 2.   Reason for the notification 
     ---------------------------------------------------------------- 
 a)   Position            (i) Finance Director 
       / status            (ii) Non-Executive 
     ------------------  -------------------------------------------- 
 b)   Initial             Initial notification 
       notification 
       /amendment 
     ------------------  -------------------------------------------- 
 3.   Details of the issuer 
     ---------------------------------------------------------------- 
 a)   Name                OKYO Pharma Limited 
     ------------------  -------------------------------------------- 
 b)   LEI                 213800VVN5CB56Y15A05 
     ------------------  -------------------------------------------- 
 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         Ordinary Shares of no par value 
       of the 
       financial 
       instrument 
     ------------------  -------------------------------------------- 
 b)   Identification      ISIN for OKYO Pharma Limited: GG00BD3FV870 
       code of 
       the Financial 
       Instrument 
     ------------------  -------------------------------------------- 
 c)   Nature              Grant of options 
       of the 
       transaction 
     ------------------  -------------------------------------------- 
 d)   Price(s)            Price       Volume 
       and volume(s)       (i) 15.5p   (i) 300,000 
                           (ii) 15.5p  (ii) 450,000 
     ------------------  -------------------------------------------- 
 f)   Date of             20 August 2020 
       the transaction 
     ------------------  -------------------------------------------- 
 
 g)   Place of            XLON 
       the transaction 
     ------------------  -------------------------------------------- 
 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

OKYO Pharma Limited (LSE: OKYO) is a life sciences and biotechnology company admitted to listing on the standard segment of the Official List of the UK Financial Conduct Authority and to trading on the Main Market for listed securities of the London Stock Exchange plc. OKYO is focusing on the discovery and development of novel molecules to treat inflammatory dry eye diseases and chronic pain.

Enquiries:

 
OKYO Pharma Limited         Willy Simon         [phone] 
Optiva Securities Limited 
 Investors:                 Robert Emmet        + 44 (0)20 3981 4173 
Dave Gentry                 RedChip Companies 
 [e-mail]            Inc.               [phone] 
 

For further information, please visit the Company's website at www.okyopharma.com .

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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August 21, 2020 02:00 ET (06:00 GMT)