Eden Research plc Grant of Awards under Long-Term Incentive Plan (2102U)
April 01 2021 - 2:00AM
UK Regulatory
TIDMEDEN
RNS Number : 2102U
Eden Research plc
01 April 2021
1 April 2021
Eden Research plc
("Eden" or "Company)
Grant of Awards under Long-Term Incentive Plan
Eden Research plc (AIM: EDEN), the AIM-quoted company focused on
sustainable biopesticides and plastic-free formulation technology
for use in global crop protection, animal health and consumer
products industries, confirms the grant of awards under the
Company's revised Long Term Incentive Plan ("LTIP") to Sean Smith,
Chief Executive Officer, and Alex Abrey, Chief Finance Officer
(together the "Executives"), as follows:
In the announcement of the Company's fundraising on 28 February
2020, the Company stated that it would implement a new Long-Term
Incentive Plan (LTIP) and replace options granted under the
previous LTIP that are deemed a more appropriate scheme to
incentivise management given the Company's stage of development. In
line with that announcement, the Company has now granted
replacement options over 10.5 million new Ordinary Shares in Eden,
at a strike price of 6p each (being the placing price of the 2020
fundraise), in the amounts of 6 million awarded to Sean Smith and
4.5 million awarded to Alex Abrey.
As announced on 28 February 2020, the options will vest
immediately and will lapse in three equal tranches in June 2022,
June 2023 and June 2024. For the first five years following the
grant of options, no shares arising from the exercise of these
options may be sold unless the Company's prevailing share price is
equal to or in excess of 10p.
The notifications below, made in accordance with the
requirements of the EU Market Abuse Regulation, provide further
detail.
For further information contact:
www.edenresearch.com
Eden Research plc
Sean Smith
Alex Abrey 01285 359 555
Cenkos Securities plc (Nominated advisor
and broker)
Giles Balleny / Camilla Hume/ Mark Connelly
(corporate finance)
Michael Johnson (sales) 020 7397 8900
Hawthorn Advisors (Financial PR)
Lorna Cobbett / Victoria Ainsworth eden@hawthornadvisors.com
1 Details of the person discharging managerial responsibilities / person closely associated
--- -----------------------------------------------------------------------------------------------
a) Name Sean Smith
--- ------------------------------------------------------------- --------------------------------
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 Eden Research plc
--- ------------------------------------------------------------- --------------------------------
b) LEI 213800ZWTYTVQQSM3J85
--- ------------------------------------------------------------- --------------------------------
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 instrument Ordinary shares of 1 pence each
Identification code
GB0001646941
--- ------------------------------------------------------------- --------------------------------
b) Nature of the transaction Grant of options
--- ------------------------------------------------------------- --------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- ----------
6p 6,000,000
--------- ----------
--- ------------------------------------------------------------- --------------------------------
d) Aggregated information
- Aggregated volume
- Price N/A
--- ------------------------------------------------------------- --------------------------------
e) Date of the transaction 31 March 2021
--- ------------------------------------------------------------- --------------------------------
f) Place of the transaction Outside of trading venue
--- ------------------------------------------------------------- --------------------------------
1 Details of the person discharging managerial responsibilities / person closely associated
--- -----------------------------------------------------------------------------------------------
a) Name Alex Abrey
--- ------------------------------------------------------------- --------------------------------
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 Eden Research plc
--- ------------------------------------------------------------- --------------------------------
b) LEI 213800ZWTYTVQQSM3J85
--- ------------------------------------------------------------- --------------------------------
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 instrument Ordinary shares of 1 pence each
Identification code
GB0001646941
--- ------------------------------------------------------------- --------------------------------
b) Nature of the transaction Grant of options
--- ------------------------------------------------------------- --------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- ----------
6p 4,500,000
--------- ----------
--- ------------------------------------------------------------- --------------------------------
d) Aggregated information
- Aggregated volume
- Price N/A
--- ------------------------------------------------------------- --------------------------------
e) Date of the transaction 31 March 2021
--- ------------------------------------------------------------- --------------------------------
f) Place of the transaction Outside of trading venue
--- ------------------------------------------------------------- --------------------------------
Notes to Editors:
Eden Research is an AIM quoted company that develops and
supplies breakthrough biopesticide products and natural,
plastic-free microencapsulation technologies to the global crop
protection, animal health and consumer products industries.
Eden's Sustaine(R) encapsulation technology is used to harness
the biocidal efficacy of naturally occurring chemicals produced by
plants (terpenes) and can also be used with both natural and
synthetic compounds to enhance their performance and ease-of-use.
Sustaine microcapsules are naturally derived, plastic-free,
biodegradable micro-spheres derived from yeast extract. It is one
of the only viable, proven and immediately registerable solutions
to the microplastics problem in formulations requiring
encapsulation.
Eden has numerous patents and a pipeline of products at
differing stages of development targeting specific areas of the
global agrochemicals industry. Eden was admitted to trading on AIM
in May 2012.
For more information about Eden, please visit:
www.edenresearch.com.
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