Venn Life Sciences Holdings PLC Grant of Stock Options (8182Q)

TIDMVENN

RNS Number : 8182Q

Venn Life Sciences Holdings PLC

14 September 2017

Venn Life Sciences Holdings Plc

("Venn" or the "Company" or the "Group")

Grant of Stock Options to Directors and Management

Venn Life Sciences (AIM: VENN), a growing Contract Research Organisation providing drug development, clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device clients, announces that it has granted stock options to directors and senior management of the Company.

The stock options were granted on the 14 September 2017 over a total of 4,310,000 common shares representing 7.1% of the issued share capital of the Company at an exercise price of 13 pence representing the closing price on 13 September. The options vest in three equal instalments when the Company's share price trades at 25p, 35p and 45p for twenty consecutive days.

Of the 4,310,000 stock options 4,060,000 were issued to directors and 250,000 were issued to senior management. Following this award of options, the total number of shares under option to directors and management is 8,020,000 representing 13.3% of the Company's issued share capital. Existing share options of 3,710,000 are amended so as to be exercisable at the same price and with the same vesting criteria as the new options.

The allocation of stock options to Persons Discharging Managerial Responsibilities was as follows:

 
     Director           Position       New Options       Total         Current         Current 
                                            Issued     Options    Shareholding    shareholding 
                                                          Held         in Venn            as a 
                                                                          Life      percentage 
                                                                      Sciences      of current 
                                                                                        issued 
                                                                                         share 
                                                                                       capital 
-----------------  -----------------  ------------  ----------  --------------  -------------- 
                    Chief Executive 
 Tony Richardson     Officer             2,340,000   3,250,000         621,667           1.03% 
-----------------  -----------------  ------------  ----------  --------------  -------------- 
 Christina          Chief Operating 
  Mila               Officer               770,000     770,000             Nil               - 
-----------------  -----------------  ------------  ----------  --------------  -------------- 
 Allan Wood         Chairman               550,000     550,000         230,000           0.38% 
-----------------  -----------------  ------------  ----------  --------------  -------------- 
                    Non-Executive 
 Mike Ryan           Director              200,000     200,000         273,258           0.45% 
-----------------  -----------------  ------------  ----------  --------------  -------------- 
                    Non-Executive 
 Mary Sheahan        Director              200,000     200,000           Nil `               - 
-----------------  -----------------  ------------  ----------  --------------  -------------- 
 

Enquiries:

 
  Venn Life Sciences Holdings                       www.vennlifesciences.com 
   Plc 
  Allan Wood, Non-Executive Chairman                    Tel: [phone] 
                                                                         898 
  Tony Richardson, Chief Executive                      Tel: [phone] 
   Officer 
 
  Davy (Nominated Adviser, ESM 
   Adviser and Joint Broker) 
  Fergal Meegan / Matthew de Vere                       Tel: [phone] 
   White (Corporate Finance) 
 
 
  Hybridan LLP (Co-Broker) 
  Claire Louise Noyce                                    Tel: [phone] 
                                                                        2341 
 
  Walbrook PR Ltd                                    Tel: [phone] 
                                                      or [e-mail] 
  Paul McManus                                          Mob: [phone] 
                                                                         893 
  Lianne Cawthorne                                      Mob: [phone] 
                                                                         303 
 
 

About Venn Life Sciences:

Venn Life Sciences is a European Contract Research Organisation providing drug development, clinical trial management and resourcing solutions to pharmaceutical, biotechnology, academic and medical device organisations. With dedicated operations in France, Germany, the Netherlands, the UK, Ireland and Europe wide representation - Venn specialises in tailored end to end drug development consultancy and clinical trial management services.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 14, 2017 12:19 ET (16:19 GMT)