Share Name Share Symbol Market Type Share ISIN Share Description
Oxford Biomedica Plc LSE:OXB London Ordinary Share GB00BDFBVT43 ORD 50P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +6.00p +1.13% 538.00p 538.00p 541.00p 542.00p 525.00p 525.00p 78,055 16:29:39
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 66.8 5.0 11.6 46.5 413

Oxford Biomedica PLC Long Term Incentive Plan Option Grant

13/09/2019 2:57pm

UK Regulatory (RNS & others)


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RNS Number : 3320M

Oxford Biomedica PLC

13 September 2019

Long Term Incentive Plan Option Grant

London, UK - 13 September 2019: Oxford Biomedica plc ("Oxford Biomedica" or the "Company") (LSE:OXB), a leading gene and cell therapy Group announces that on 12 September 2019 nil-cost share options over shares of 50 pence each in the Company were granted to Dmitry Zamoryakhin, who has joined the Senior Executive Team as Chief Medical Officer, under the Oxford Biomedica 2015 Long Term Incentive Plan ("LTIP").

 
 Name of individual        Title           Number of      Total shares   Percentage of issued 
                                         shares subject    over which     share capital under 
                                           LTIP grant      options are          option 
                                                              held 
                       Chief Medical 
 Dmitry Zamoryakhin        Officer          30,751           30,751             0.04% 
                      ---------------  ----------------  -------------  --------------------- 
 

The LTIP awards are subject to a three year performance period and become exercisable from the third anniversary of the grant date, subject to the satisfaction of a performance condition.

The Award shall Vest by reference to an equal weight between the compounded annual growth rate of the Company's Share Price, calculated by comparing the average closing share price over the five Dealing Days immediately preceding the start of the Performance Period of 617.86p with the average share price of the Company over the three months immediately preceding the end of the Performance Period, in accordance with the TSR table below, and the compounded annual growth rate of the Company's Revenues calculated by comparing the audited Revenue figure as of 31 December 2018 preceding the start of the Performance period of GBP66.8m, with the audited Revenue figure as of 31 December 2021, in accordance with the Revenue table below.

TSR Table

 
    Compound annual growth rate      Extent to which Performance 
    of the Company's share price        Condition is satisfied 
  over the three year Performance 
               Period 
 Less than 10% per annum             0% 
                                    ---------------------------- 
 10% per annum (i.e. 33% over 
  3 years)                           25% 
                                    ---------------------------- 
 Between 10% per annum and 17.5%     On a straight line basis 
  per annum                           between 25% and 100% 
                                    ---------------------------- 
 17.5% per annum or above(i.e. 
  63% over three years)              100% 
                                    ---------------------------- 
 

Revenue Table

 
     Compound annual growth rate       Extent to which Performance 
    of the Company's revenue over         Condition is satisfied 
  the three year Performance Period 
 Less than 15% per annum               0% 
                                      ---------------------------- 
 15% per annum (i.e. 52.1% over 
  3 years)                             25% 
                                      ---------------------------- 
 Between 15% per annum and 24%         On a straight line basis 
  per annum                             between 25% and 100% 
                                      ---------------------------- 
 24% per annum or above (i.e. 
  90.7% over three years)              100% 
                                      ---------------------------- 
 

There will also be a performance underpin, such that the awards would only vest to the extent that the Remuneration Committee considers that the overall performance of the business across the period justifies it. The share price at the third anniversary of the grant date will also be averaged across the three month period immediately preceding the end of the performance period to avoid rewarding for short term spikes in performance. Clawback and malus provisions will apply to the awards.

The issued share capital of the Company is 76,767,971 ordinary shares of 50 pence each.

The Notification of Dealing Forms set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.

Notification of Dealing Form

 
 1.   Details of the Person Discharging Managerial Responsibility 
       ("PDMR")/person closely associated with them ("PCA") 
 a)   Name                       Dmitry Zamoryakhin 
     -------------------------  ----------------------------------------- 
 2.   Reason for the notification 
     -------------------------------------------------------------------- 
 a)   Position/status            Chief Medical Officer 
     -------------------------  ----------------------------------------- 
 b)   Initial notification/      Initial Notification 
       amendment 
     -------------------------  ----------------------------------------- 
 3.   Details of the Issuer 
     -------------------------------------------------------------------- 
 a)   Name                       Oxford Biomedica plc 
     -------------------------  ----------------------------------------- 
 b)   LEI code                   213800S1GVQNXQ15K851 
     -------------------------  ----------------------------------------- 
 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             Ordinary Shares of 50 pence each 
       the financial              ISIN: GB00BDFBVT43 
       instrument 
       Identification 
       code 
     -------------------------  ----------------------------------------- 
 b)   Nature of the              Grant of awards over Ordinary Shares 
       transaction                under the Company's Long Term Incentive 
                                  Plan Plan. No consideration was paid 
                                  for the grant of awards. 
     -------------------------  ----------------------------------------- 
 c)   Price(s) and volumes(s)    LTIP Award 
                                   Price             Volume 
                                   Nil cost award    30,751 
                                                    ------- 
     -------------------------  ----------------------------------------- 
 d)   Aggregated information      Awards granted over 30,751 shares in 
       - Aggregate volume          total 
       - Price                     N/A 
     -------------------------  ----------------------------------------- 
 e)   Date of the transaction    09-12-2019 
     -------------------------  ----------------------------------------- 
 f)   Place of the transaction   Outside of trading venue 
     -------------------------  ----------------------------------------- 
 

-Ends-

 
 For further information, please contact: 
  Oxford Biomedica plc:                      Tel: +44 (0)1865 783 000 
   Natalie Walter, Company Secretary 
 

About Oxford Biomedica

Oxford Biomedica (LSE:OXB) is a leading gene and cell therapy group focused on developing life changing treatments for serious diseases. Oxford Biomedica and its subsidiaries (the "Group") have built a sector leading lentiviral vector delivery platform (LentiVector(R) ), which the Group leverages to develop in vivo and ex vivo products both in-house and with partners. The Group has created a valuable proprietary portfolio of gene and cell therapy product candidates in the areas of oncology, ophthalmology and CNS disorders. The Group has also entered into a number of partnerships, including with Novartis, Sanofi, Axovant Gene Therapies, Orchard Therapeutics, Santen, Boehringer Ingelheim, the UK Cystic Fibrosis Gene Therapy Consortium and Imperial Innovations, through which it has long-term economic interests in other potential gene and cell therapy products. Oxford Biomedica is based across several locations in Oxfordshire, UK and employs more than 480 people. Further information is available at www.oxb.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 rns@lseg.com or visit www.rns.com.

END

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