Venture Life Group PLC 2018 LTIP and Grant of Options to PDMRs (8401I)

TIDMVLG

RNS Number : 8401I

Venture Life Group PLC

26 March 2018

Venture Life Group plc

("Venture Life" or the "Company")

2018 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 self-care market, announces that it has granted further nominal-cost share options ("Options") over ordinary shares of 0.3p each in Venture Life ("Shares") under the Venture Life Group plc 2016 Long Term Incentive Plan ("LTIP").

On 23 March 2018 (the "Date of Grant"), Venture Life granted Options over a total of 1,358,806 Shares to its four Executive Directors. Vesting of the Options is subject to continued employment and the Company 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 Options granted are subject to EPS performance and half subject to TSR performance.

This tranche of 1,358,806 Options will vest on 23 March 2021, subject to meeting the performance conditions set for the Company's EPS over the three financial years ending 31 December 2020 and TSR for the three years commencing 23 March 2018. The Options are exercisable at a price of 0.3p per Share.

 
                                                                            Total number 
                                       No. of LTIPS in     No. of LTIPS    of shares held 
  Director           Position               this issue           lapsed      under option 
                     Chief Executive 
  Jerry Randall       Officer                  448,548        (203,390)         2,436,252 
  Gianluca           Manufacturing 
   Braguti            Director                 360,650        (153,971)           863,124 
                     Commercial 
  Sharon Collins      Director                 299,032        (135,593)         2,074,575 
                     Chief Financial 
  Adrian Crockett     Officer                  250,576                0           416,101 
                                             1,358,806        (492,954)         5,790,052 
 

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

The lapsed options relate to options issued in 2015 that have now lapsed as the performance conditions attached to them were not met.

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 
                                   Adrian Crockett - 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 the          Ordinary Shares of 0.3p each in Venture 
       financial instrument,       Life Group plc 
       type of instrument 
---  --------------------------  ------------------------------------------- 
 b)   Identification code         GB00BFPM8908 
---  --------------------------  ------------------------------------------- 
 c)   Nature of the transaction   Grant of Options over Ordinary Shares 
                                   pursuant to the Venture Life Group 
                                   plc 2017 Long Term Incentive Plan 
---  --------------------------  ------------------------------------------- 
 d)   Price and volumes           Price - nil 
                                   Volumes: 
                                   Jerry Randall - 448,548 Ordinary Shares 
                                   Gianluca Braguti - 360,650 Ordinary 
                                   Shares 
                                   Sharon Collins - 299,032 Ordinary Shares 
                                   Adrian Crockett - 250,576 Ordinary 
                                   Shares 
---  --------------------------  ------------------------------------------- 
 d)   Aggregated information       N/a 
       - Aggregated volume 
       - Price 
---  --------------------------  ------------------------------------------- 
 e)   Date of the transaction     23 March 2017 
---  --------------------------  ------------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
---  --------------------------  ------------------------------------------- 
 

Name of authorised official of issuer responsible for making notification.

Peter Shepherd

Company Secretary to Venture Life Group plc

For further information please contact:

 
                                                                          [phone] 
 Venture Life Group PLC                                                                004 
 Jerry Randall, Chief Executive Officer 
 Adrian Crockett, Chief Financial Officer 
 Northland Capital Partners Limited (Nominated                             [phone] 
  Adviser and Joint Broker)                                                           6625 
 Matthew Johnson/Edward Hutton (Corporate Finance) 
 Bob Pountney (Corporate Broking) 
 
                                                                           [phone] 
 Turner Pope Investments (TPI) Ltd (Joint Broker)                                     4120 
 Andy Thacker 
 
 Walbrook PR                                             [e-mail] or +44 
                                                                          (0) 20 7933 8780 
 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

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March 26, 2018 02:00 ET (06:00 GMT)