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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Omega Diagnostics Group Plc | LSE:ODX | London | Ordinary Share | GB00B1VCP282 | ORD 4P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.20 | 2.00 | 2.40 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMODX
RNS Number : 4084O
Omega Diagnostics Group PLC
10 June 2022
OMEGA DIAGNOSTICS GROUP PLC
("Omega" or the "Company" or the "Group")
Grant of share incentive awards to Directors and senior managers
1. Establishment and operation of the Company's new Long Term Incentive Plan
Omega (AIM: ODX), the specialist medical diagnostics company focused on industry-leading Health & Nutrition and Global Health products, announces that, on 8 June 2022, it granted awards ("Awards") over ordinary shares of 4 pence each in the capital of the Company ("Ordinary Shares") to Executive Directors pursuant to the terms of its newly established Long Term Incentive Plan (the "LTIP"), details of which are set out below:
Director Board Position Number of Number of Total number Ordinary Shares Ordinary Shares of Ordinary over which over which Shares over "Performance "Retention which Awards Awards" granted Awards" granted granted Jag Grewal CEO 4,700,715 1,200,000 5,900,715 ---------------- ----------------- ----------------- -------------- Chris Lea CFO 4,339,121 1,000,000 5,339,121 ---------------- ----------------- ----------------- --------------
The LTIP has been established in order to incentivise Executive Directors and certain senior managers to deliver long term value for shareholders, align their interests with the various stakeholders and retain these key individuals within the business. No consideration was paid for the grant of the Awards, which have been structured as "nil cost" options.
The Performance Awards detailed in the above table will normally vest on the third anniversary of grant but only if, at that time, the Company's share price (averaged over a 90day period) is equal to or greater than 12 pence per Ordinary Share. Vesting will normally be dependent on the continued employment of the participant within the Group.
The vesting of the Retention Awards is dependent solely on continued employment over the period of three years from grant (or, in the case of Chris Lea, the period of three years from 30 August 2021, being the date on which he was originally appointed as an Executive Director).
Once the Awards have vested, they will generally be available to be exercised until the tenth anniversary of their original grant.
In addition, Awards over an aggregate of 3,000,000 Ordinary Shares were also granted on 8 June 2022 to certain other senior managers in the business. These Awards are all Performance Awards with the same vesting criteria as detailed above.
Further information in relation to the LTIP will be included in Omega's next annual report and financial statements.
2. Grant of stand-alone option to Chairman
Omega also announces that, on 9 June 2022, it granted the following conditional option over Ordinary Shares (with an exercise price of 4 pence per share) to the Company's Chairman:
Director Board Position Number of Ordinary Shares over which conditional option granted Simon Douglas Non-Executive Chairman 200,000 ------------------------ --------------------
The terms of the above option are set out in a stand-alone agreement entered into between the Company and Simon Douglas. Subject to continued appointment as a Director, it will normally vest and become exercisable on the third anniversary of its grant. For the avoidance of doubt, no consideration was paid for the grant of this option.
3. Release of previous options
In advance of the grant of the Awards and options detailed above, both Jag Grewal and Simon Douglas released all existing rights to acquire Ordinary Shares that had previously been granted to them under Omega's various share incentive arrangements.
4. Overview of options held by Omega's Directors
Following the transactions described above, the position of those directors being granted options can be summarised as follows:
Director Board Position Previous Current Combined number of number of interest Ordinary Ordinary Ordinary of equity shares Shares subject Shares subject held and held to Awards to Awards options / options / options as a percentage of issued share capital Non-Executive Simon Douglas Chairman 500,000 200,000 200,000 0.3% ---------------- ----------- ---------------- ---------------- ----------------- Jag Grewal CEO 735,746 1,200,000 5,900,715 2.8% ---------------- ----------- ---------------- ---------------- ----------------- Chris Lea CFO 500,000 0 5,339,121 2.4% ---------------- ----------- ---------------- ---------------- -----------------
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
Contacts:
Omega Diagnostics Group PLC www.omegadx.com Jag Grewal, Chief Executive Officer via Walbrook PR Chris Lea, Chief Financial Officer finnCap Ltd Tel: 020 7220 0500 Geoff Nash/Edward Whiley/George Dollemore (Corporate Finance) Alice Lane/ Harriet Ward (ECM) Walbrook PR Limited Tel: 020 7933 8780 or omega@walbrookpr.com Paul McManus Mob: 07980 541 893 Lianne Applegarth Mob: 07584 391 303 Sam Allen Mob: 07502 558 258
About Omega Diagnostics Group PLC
Omega manufactures and distributes high quality in-vitro diagnostic products for use in hospitals, clinics, laboratories and healthcare practitioners in over 70 countries and specialise in the areas of health and nutrition and global health.
www.omegadx.com
Notification of transactions of persons discharging managerial responsibilities and persons closely associated with them
Details of the person discharging managerial responsibilities 1 / person closely associated a) Name Jag Grewal --------------------- ---------------------------------------------------- Reason for the notification 2 --------------------------------------------------------------------------- a) Position/status Chief Executive Officer --------------------- ---------------------------------------------------- b) Initial notification Initial Notification /Amendment --------------------- ---------------------------------------------------- Details of the issuer, emission allowance market participant, 3 auction platform, auctioneer or auction monitor --------------------------------------------------------------------------- a) Name Omega Diagnostics Group PLC --------------------- ---------------------------------------------------- b) LEI 2138007U9P4BTZTYIR92 --------------------- ---------------------------------------------------- Details of the transaction(s): section to be repeated for 4 (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 4 pence each ("Ordinary Shares") of the financial instrument, type of instrument ISIN: GB00B1VCP282 Identification code --------------------- ---------------------------------------------------- b) Nature of Grant of "Retention Award" (in the form of a the transaction nil cost option) over Ordinary Shares pursuant to the Omega Diagnostics Group PLC Long Term Incentive Plan --------------------- ---------------------------------------------------- c) Price(s) and Price(s) Volume(s) volume(s) ---------- Nil (exercise price) 1,200,000 ---------------------- ---------- --------------------- ---------------------------------------------------- d) Aggregated Not applicable information -Aggregated volume - Price --------------------- ---------------------------------------------------- e) Date of the 8 June 2022 transaction --------------------- ----------------------------------------------------
f) Place of the Outside a trading venue transaction --------------------- ---------------------------------------------------- Details of the transaction(s): section to be repeated for 4 (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 4 pence each ("Ordinary Shares") of the financial instrument, type of instrument ISIN: GB00B1VCP282 Identification code --------------------- ---------------------------------------------------- b) Nature of Grant of "Performance Award" (in the form of the transaction a nil cost option) over Ordinary Shares pursuant to the Omega Diagnostics Group PLC Long Term Incentive Plan --------------------- ---------------------------------------------------- c) Price(s) and Price(s) Volume(s) volume(s) ---------- Nil (exercise price) 4,700,715 ---------------------- ---------- --------------------- ---------------------------------------------------- d) Aggregated Not applicable information -Aggregated volume - Price --------------------- ---------------------------------------------------- e) Date of the 8 June 2022 transaction --------------------- ---------------------------------------------------- f) Place of the Outside a trading venue transaction --------------------- ---------------------------------------------------- Details of the transaction(s): section to be repeated for 4 (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 4 pence each ("Ordinary Shares") of the financial instrument, type of instrument ISIN: GB00B1VCP282 Identification code --------------------- ---------------------------------------------------- b) Nature of Release of option over Ordinary Shares originally the transaction granted on 5 July 2012 pursuant to the Omega Diagnostics Group PLC EMI Option Scheme --------------------- ---------------------------------------------------- c) Price(s) and Price(s) Volume(s) volume(s) ---------- 14.5p (exercise price) 90,000 ------------------------ ---------- --------------------- ---------------------------------------------------- d) Aggregated Not applicable information -Aggregated volume - Price --------------------- ---------------------------------------------------- e) Date of the 7 June 2022 transaction --------------------- ---------------------------------------------------- f) Place of the Outside a trading venue transaction --------------------- ---------------------------------------------------- Details of the transaction(s): section to be repeated for 4 (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 4 pence each ("Ordinary Shares") of the financial instrument, type of instrument ISIN: GB00B1VCP282 Identification code --------------------- ---------------------------------------------------- b) Nature of Release of option over Ordinary Shares originally the transaction granted on 25 February 2014 pursuant to the Omega Diagnostics Group PLC EMI Option Scheme --------------------- ---------------------------------------------------- c) Price(s) and Price(s) Volume(s) volume(s) ---------- 30.5p (exercise price) 610,000 ------------------------ ---------- --------------------- ---------------------------------------------------- d) Aggregated Not applicable information -Aggregated volume - Price --------------------- ---------------------------------------------------- e) Date of the 7 June 2022 transaction --------------------- ---------------------------------------------------- f) Place of the Outside a trading venue transaction --------------------- ---------------------------------------------------- Details of the transaction(s): section to be repeated for 4 (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 4 pence each ("Ordinary Shares") of the financial instrument, type of instrument ISIN: GB00B1VCP282 Identification code --------------------- ---------------------------------------------------- b) Nature of Release of option over Ordinary Shares originally the transaction granted on 23 January 2020 pursuant to the Omega EMI Plan 2020 --------------------- ---------------------------------------------------- c) Price(s) and Price(s) Volume(s) volume(s) ---------- 15.4p (exercise price) 500,000 ------------------------ ---------- --------------------- ---------------------------------------------------- d) Aggregated Not applicable information -Aggregated volume - Price --------------------- ---------------------------------------------------- e) Date of the 7 June 2022 transaction --------------------- ---------------------------------------------------- f) Place of the Outside a trading venue transaction --------------------- ---------------------------------------------------- Details of the person discharging managerial responsibilities 1 / person closely associated a) Name Chris Lea --------------------- ---------------------------------------------------- Reason for the notification 2 --------------------------------------------------------------------------- a) Position/status Chief Financial Officer --------------------- ---------------------------------------------------- b) Initial notification Initial Notification /Amendment --------------------- ---------------------------------------------------- Details of the issuer, emission allowance market participant, 3 auction platform, auctioneer or auction monitor --------------------------------------------------------------------------- a) Name Omega Diagnostics Group PLC --------------------- ---------------------------------------------------- b) LEI 2138007U9P4BTZTYIR92 --------------------- ---------------------------------------------------- Details of the transaction(s): section to be repeated for 4 (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 4 pence each ("Ordinary Shares") of the financial instrument, type of instrument ISIN: GB00B1VCP282 Identification code --------------------- ---------------------------------------------------- b) Nature of Grant of "Retention Award" (in the form of a the transaction nil cost option) over Ordinary Shares pursuant to the Omega Diagnostics Group PLC Long Term Incentive Plan --------------------- ---------------------------------------------------- c) Price(s) and Price(s) Volume(s) volume(s) ---------- Nil (exercise price) 1,000,000 ---------------------- ---------- --------------------- ---------------------------------------------------- d) Aggregated Not applicable information -Aggregated volume - Price --------------------- ---------------------------------------------------- e) Date of the 8 June 2022 transaction --------------------- ----------------------------------------------------
f) Place of the Outside a trading venue transaction --------------------- ---------------------------------------------------- Details of the transaction(s): section to be repeated for 4 (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 4 pence each ("Ordinary Shares") of the financial instrument, type of instrument ISIN: GB00B1VCP282 Identification code --------------------- ---------------------------------------------------- b) Nature of Grant of "Performance Award" (in the form of the transaction a nil cost option) over Ordinary Shares pursuant to the Omega Diagnostics Group PLC Long Term Incentive Plan --------------------- ---------------------------------------------------- c) Price(s) and Price(s) Volume(s) volume(s) ---------- Nil (exercise price) 4,339,121 ---------------------- ---------- --------------------- ---------------------------------------------------- d) Aggregated Not applicable information -Aggregated volume - Price --------------------- ---------------------------------------------------- e) Date of the 8 June 2022 transaction --------------------- ---------------------------------------------------- f) Place of the Outside a trading venue transaction --------------------- ---------------------------------------------------- Details of the person discharging managerial responsibilities 1 / person closely associated a) Name Simon Douglas --------------------- ---------------------------------------------------- Reason for the notification 2 --------------------------------------------------------------------------- a) Position/status Non-Executive Chairman --------------------- ---------------------------------------------------- b) Initial notification Initial Notification /Amendment --------------------- ---------------------------------------------------- Details of the issuer, emission allowance market participant, 3 auction platform, auctioneer or auction monitor --------------------------------------------------------------------------- a) Name Omega Diagnostics Group PLC --------------------- ---------------------------------------------------- b) LEI 2138007U9P4BTZTYIR92 --------------------- ---------------------------------------------------- Details of the transaction(s): section to be repeated for 4 (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 4 pence each ("Ordinary Shares") of the financial instrument, type of instrument ISIN: GB00B1VCP282 Identification code --------------------- ---------------------------------------------------- b) Nature of Grant of option over Ordinary Shares the transaction --------------------- ---------------------------------------------------- c) Price(s) and Price(s) Volume(s) volume(s) ---------- 4p (exercise price) 200,000 --------------------- ---------- --------------------- ---------------------------------------------------- d) Aggregated Not applicable information -Aggregated volume - Price --------------------- ---------------------------------------------------- e) Date of the 9 June 2022 transaction --------------------- ---------------------------------------------------- f) Place of the Outside a trading venue transaction --------------------- ---------------------------------------------------- Details of the transaction(s): section to be repeated for 4 (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 4 pence each ("Ordinary Shares") of the financial instrument, type of instrument ISIN: GB00B1VCP282 Identification code --------------------- ---------------------------------------------------- b) Nature of Release of option over Ordinary Shares originally the transaction granted on 5 March 2021 pursuant to the Omega Diagnostics Group PLC Third Unapproved Option Scheme --------------------- ---------------------------------------------------- c) Price(s) and Price(s) Volume(s) volume(s) ---------- 89p (exercise price) 200,000 ---------------------- ---------- --------------------- ---------------------------------------------------- d) Aggregated Not applicable information -Aggregated volume - Price --------------------- ---------------------------------------------------- e) Date of the 8 June 2022 transaction --------------------- ---------------------------------------------------- f) Place of the Outside a trading venue transaction --------------------- ----------------------------------------------------
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END
DSHUKRORUVUNRUR
(END) Dow Jones Newswires
June 10, 2022 02:01 ET (06:01 GMT)
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