Venture Life Group PLC 2016 LTIP adopted & Grant of Options (1354L)

TIDMVLG

RNS Number : 1354L

Venture Life Group PLC

29 September 2016

Venture Life Group plc

("Venture Life" or the "Company")

Venture Life Group plc 2016 Long Term Incentive Plan and Grant of Options to PDMRs

Venture Life (AIM: VLG), the international consumer self-care group focused on developing, manufacturing and commercialising products for the ageing population, announces that it has adopted a new Long Term Incentive Plan, the Venture Life Group plc 2016 Long Term Incentive Plan ("LTIP"). Initial grants of nominal-cost share options ("Options") over ordinary shares of 0.3p each in Venture Life Group plc ("Shares") pursuant to the LTIP were made on 28 September 2016.

Grant of Options

On 28 September 2016 (the "Date of Grant"), Venture Life granted Options over a total of 1,641,247 Shares to its four Executive Directors, all of whom are regarded as Persons Discharging Managerial Responsibilities ("PDMRs") for the Company.

Vesting of the Options is subject to continued employment and the Group meeting objective performance conditions, namely the Company's Earnings Per Share ("EPS") performance and relative Total Shareholder Return (share price performance plus dividends added back - "TSR"). Half of the Shares under an Option are subject to EPS performance conditions, and half of the Shares under an Option are subject to TSR performance conditions.

The first tranche of Options granted over a total of 611,598 Shares ("Grant 1") will ordinarily vest on 25 March 2018, subject to meeting the performance conditions set for the Company's EPS over the three financial years ending 31 December 2017 and TSR for the three years commencing 26 March 2015.

The second tranche of Options granted over a total of 1,029,649 Shares ("Grant 2") will ordinarily vest on the third anniversary of the Date of Grant, subject to meeting the performance conditions set for the Company's EPS over the three financial years ending 31 December 2018 and TSR for the three years commencing on the Date of Grant.

The Options are exercisable at a price of 0.3p per Share.

 
Director        Position                 No. of              No. of Shares        Combined      Total number 
                                         Shares               under Option   no. of Shares   of Shares under 
                                   under Option                    - Grant   under Options      options held 
                                        - Grant                          2 
                                              1 
                Chief Executive 
Jerry Randall    Officer                203,390                    340,183         543,573         1,894,793 
Gianluca        Manufacturing 
 Braguti         Director               153,971                    264,237         418,208           418,208 
Sharon          Commercial 
 Collins         Director               135,593                    226,789         362,382         1,713,602 
                Chief Financial 
James Hunter     Officer                118,644                    198,440         317,084           917,084 
                                  -------------  -------------------------  --------------  ---------------- 
                                        611,598                  1,029,649       1,641,247         4,943,687 
 
 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

 
  1   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ------------------------------------------------------------- 
 a)   Names                     Jerry Randall - Chief Executive 
                                 Officer 
                                 Gianluca Braguti - Manufacturing 
                                 Director 
                                 Sharon Collins - Commercial 
                                 Director 
                                 James Hunter - Chief Financial 
                                 Officer 
---  ------------------------  ----------------------------------- 
 2    Reason for the notification 
---  ------------------------------------------------------------- 
 a)   Position/status           See 1(a) above for positions 
                                 - all classified as PDMRs of 
                                 Venture Life 
---  ------------------------  ----------------------------------- 
 b)   Initial notification      Initial Notification 
       /Amendment 
---  ------------------------  ----------------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------------- 
 a)   Name                      Venture Life Group plc 
---  ------------------------  ----------------------------------- 
 b)   LEI 
---  ------------------------  ----------------------------------- 
 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 0.3p each 
       the financial             in Venture Life Group plc 
       instrument, type 
       of instrument 
---  ------------------------  ----------------------------------- 
 b)   Identification            GB00BFPM8908 
       code 
---  ------------------------  ----------------------------------- 
 c)   Nature of the             Grant of Options over Ordinary 
       transaction               Shares pursuant to the Venture 
                                 Life Group plc 2016 Long Term 
                                 Incentive Plan 
---  ------------------------  ----------------------------------- 
 d)   Price and volumes         Price - nil 
                                 Volumes: 
                                 Jerry Randall - 543,573 Ordinary 
                                 Shares 
                                 Gianluca Braguti - 418,208 
                                 Ordinary Shares 
                                 Sharon Collins - 362,382 Ordinary 
                                 Shares 
                                 James Hunter - 317,084 Ordinary 
                                 Shares 
---  ------------------------  ----------------------------------- 
 d)   Aggregated information     N/a 
       - Aggregated 
       volume 
       - Price 
---  ------------------------  ----------------------------------- 
 e)   Date of the transaction   28 September 2016 
---  ------------------------  ----------------------------------- 
 f)   Place of the              Outside a trading venue 
       transaction 
---  ------------------------  ----------------------------------- 
 

Name of authorised official of issuer responsible for making notification.

James Hunter

Company Secretary to Venture Life Group plc

For further information please contact:

 
 Venture Life Group PLC                            [phone] 
 Jerry Randall, Chief Executive 
  Officer 
 James Hunter, Chief Financial Officer 
 
 Panmure Gordon (UK) Limited (Nominated                [phone] 
  Adviser and Joint Broker)                                       2500 
 Freddy Crossley/Peter Steel/Duncan 
  Monteith (Corporate Finance) 
 Tom Salvesen (Corporate Broking) 
 
 Turner Pope Investments (TPI) Ltd                     [phone] 
  (Joint Broker)                                                  4120 
 James Pope/Ben Turner 
 
 Walbrook PR                                [e-mail] 
                                               or [phone] 
 Paul McManus/Anna Dunphy                   [phone] / +44 
                                                      (0) 7876 741 001 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 29, 2016 02:01 ET (06:01 GMT)