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Share Name Share Symbol Market Type Share ISIN Share Description
Plant Health Care Plc LSE:PHC London Ordinary Share GB00B01JC540 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.05 0.29% 17.50 16.00 19.00 18.40 16.00 18.40 92,519 16:35:11
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Chemicals 4.9 -2.9 -1.5 - 30

Plant Health Care PLC Grant of Options

07/10/2020 7:00am

UK Regulatory (RNS & others)


Plant Health Care (LSE:PHC)
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TIDMPHC

RNS Number : 3024B

Plant Health Care PLC

07 October 2020

The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

Plant Health Care plc

("Plant Health Care" or "the Company")

Grant of Options

Director/PDMR shareholding s

Plant Health Care, a leading provider of novel patent-protected biological products to global agricultural markets, announce s that on 6 October 2020 the Company awarded options to executive directors and certain employees under the Company's 2017 Employee Share Option Plan (the ' Plan ').

The Company has awarded 6.5m options with an exercise price of 1p per share under the Plan (representing 2.58% of the Company's current issued share capital) that vest upon the earlier of: (a) the date of a Change of Control; or (b) upon satisfaction of the Performance-Based Requirement and in addition, for United States employees, the Service-Based Requirement.

Performance-Based Requirement:

(i) In respect of 70% of the options (rounded to the nearest whole number) no option may be exercised until the date on which the arithmetic mean closing price of the Company's shares over 30 consecutive trading dates after the date of grant has exceeded 15p per share; and

(ii) In respect of the balance of the options, no options may be exercised until the date on which the arithmetic mean closing price of the Company's shares over 30 consecutive trading days after the date of grant has exceeded 27p per share.

Service-Based Requirement: for all United States employees no option shall be exercised before the two-year anniversary of the date of grant.

Those options that have not vested will expire after five years from the date of grant. All options are also fully convertible at the discretion of the Remuneration Committee of the Company.

Of the options granted, the following awards have been made to the executive directors, being Chris Richards, Jeffrey Hovey and Jeffrey Tweedy.

 
 Name                    Position           Number o f s hares s ubject 
                                             t o t he Option 
                         Chief Executive 
 Christopher Richards     Officer             3,250,000 
                        =================  ============================ 
                         Chief Financial 
 Jeffrey Hovey            Officer             1,181,818 
                        =================  ============================ 
                         Chief Operating 
 Jeffrey Tweedy           Officer             1,181,818 
                        =================  ============================ 
 

Related Party Transactions

The award of the options to Chris Richards, Jeffrey Hovey and Jeffrey Tweedy , as set out above, constitute related party transactions pursuant to Rule 13 of the AIM Rules for Companies . The Independent Directors , being all Directors save for Chris Richards, Jeffrey Hovey and Jeffrey Tweedy , consider, having consulted with the Company's nominated adviser, Arden, that the award of the options to Chris Richards, Jeffrey Hovey and Jeffrey Tweedy are fair and reasonable insofar as the Company's shareholders are concerned.

Bill Lewis, Chair of the Remuneration Committee commented:

"PHC's management is unusually well qualified and experienced, as is frequently remarked to us by channel partners and competitors alike. Our new options scheme, linked to a sustained increase in the share price over the next two years, is intended to align senior management incentives more closely to shareholder value."

Enquiries

 
 Plant Health Care plc                       +1 919 926 1600 
 Chris Richards - CEO 
  Jeffrey Hovey - Chief Financial Officer 
 
 Arden Partners plc - Nomad and Broker 
  John Llewellyn-Lloyd / Dan Gee-Summons     +44 (0)20 7614 5900 
 
 

Company website: www.planthealthcare.com

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                                      Dr Christopher Richards 
     --------------------------------------------------------  ------------------------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Position/status                                           Chief Executive Officer 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Initial notification/Amendment                            Initial notification 
     --------------------------------------------------------  ------------------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                      Plant Health Care plc 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   LEI 
                                                                  213800KBQPJZ2FM8QH27 
     --------------------------------------------------------  ------------------------------------------------------- 
 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, type of          Options over Ordinary Shares of 1p each 
      instrument 
 
      Identification code                                        GB00B 01JC540 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Nature of the transaction                                 Grant of 1p options u nder the 2017 Employee Share 
                                                                Option Plan 
     --------------------------------------------------------  ------------------------------------------------------- 
 c)   Price(s) and volume(s)                                     Price(s)   Volume(s) 
                                                                   1p         3,250,000 
                                                                             ---------- 
     --------------------------------------------------------  ------------------------------------------------------- 
 d)   Aggregated information-  Aggregated volume 
       -  Price                                                   3,250,000 ordinary shares of 1p per share par value 
 
                                                                  As above 
     --------------------------------------------------------  ------------------------------------------------------- 
 e)   Date of the transaction                                   06.10. 2020 
     --------------------------------------------------------  ------------------------------------------------------- 
 f)   Place of the transaction                                  Outside a trading venue 
     --------------------------------------------------------  ------------------------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                                      Jeffrey Hovey 
     --------------------------------------------------------  ------------------------------------------------------- 
 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                                                      Plant Health Care plc 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   LEI 
                                                                  213800KBQPJZ2FM8QH27 
     --------------------------------------------------------  ------------------------------------------------------- 
 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, type of          Options over Ordinary Shares of 1p each 
      instrument 
 
      Identification code                                        GB00B 01JC540 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Nature of the transaction                                 Grant of 1p Options under the 2017 Employee Share 
                                                                Option Plan 
     --------------------------------------------------------  ------------------------------------------------------- 
 c)   Price(s) and volume(s)                                     Price(s)   Volume(s) 
                                                                   1p         1,181,818 
                                                                             ---------- 
     --------------------------------------------------------  ------------------------------------------------------- 
 d)   Aggregated information-  Aggregated volume 
       -  Price                                                   1,181,818 ordinary shares of 1p per share par value 
 
                                                                  As above 
     --------------------------------------------------------  ------------------------------------------------------- 
 e)   Date of the transaction                                   06.10. 2020 
     --------------------------------------------------------  ------------------------------------------------------- 
 f)   Place of the transaction                                  Outside a trading venue 
     --------------------------------------------------------  ------------------------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                                      Jeffrey Tweedy 
     --------------------------------------------------------  ------------------------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Position/status                                           Chief Operating Officer 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Initial notification/Amendment                            Initial notification 
     --------------------------------------------------------  ------------------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                      Plant Health Care plc 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   LEI 
                                                                  213800KBQPJZ2FM8QH27 
     --------------------------------------------------------  ------------------------------------------------------- 
 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, type of          Options over Ordinary Shares of 1p each 
      instrument 
 
      Identification code                                        GB00B 01JC540 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Nature of the transaction                                 Grant of 1p options under the 2017 Employee Share 
                                                                Option Plan 
     --------------------------------------------------------  ------------------------------------------------------- 
 c)   Price(s) and volume(s)                                     Price(s)   Volume(s) 
                                                                   1p         1,181,818 
                                                                             ---------- 
     --------------------------------------------------------  ------------------------------------------------------- 
 d)   Aggregated information-  Aggregated volume 
       -  Price                                                   1,181,818 ordinary shares of 1p per share par value 
 
                                                                  As above 
     --------------------------------------------------------  ------------------------------------------------------- 
 e)   Date of the transaction                                   06.10. 2020 
     --------------------------------------------------------  ------------------------------------------------------- 
 f)   Place of the transaction                                  Outside a trading venue 
     --------------------------------------------------------  ------------------------------------------------------- 
 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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October 07, 2020 02:00 ET (06:00 GMT)

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