Cambridge Cognition Holdings PLC Grant of Options (3877W)
April 17 2019 - 2:00AM
UK Regulatory
TIDMCOG
RNS Number : 3877W
Cambridge Cognition Holdings PLC
17 April 2019
Cambridge Cognition Holdings Plc
('Cambridge Cognition' or the 'Company')
Grant of Options
The neuroscience technology company Cambridge Cognition Holdings
plc (AIM: COG), which develops and markets neuroscience
technologies to assess brain health, announces that on 16 April
2019, the Company granted options ("Options") over a total of
189,000 ordinary shares of 1 pence each in the capital of the
Company ("Ordinary Shares") pursuant to the Company's EMI option
scheme and the Company's unapproved option scheme.
Of these Options:
- 63,000 were granted to Persons Discharging Managerial
Responsibilities ("PDMRs") on behalf of the Company; and
- 126,000 were granted to other employees of the Company.
60,000 of the Options granted to PDMRs together with 105,000 of
the 126,000 Options granted to other employees are exercisable at a
price of 72 pence per Ordinary Share from three years following the
date of award until the tenth anniversary of the date of award,
subject to satisfying the following performance criteria:
- 55% of the Options granted will vest if the average closing
mid-market price of an Ordinary Share for the final 10 trading days
of 2020 is greater than 150 pence per Ordinary Share. A pro rata
sliding scale will apply if the average closing mid-market price of
an Ordinary Share for the final 10 trading days of 2020 is between
110 pence and 150 pence per Ordinary Share; and
- 45% of the Options granted will vest if the profit after tax
as reported in the audited statutory accounts of the Group for the
two financial years ended 31 December 2019 and 31 December 2020
when added together is greater than GBPnil. Should this requirement
not be met, 20% of the total shares granted will vest if the profit
after tax as reported in the audited statutory accounts of the
Group for the financial year ended 2020 is greater than GBPnil.
The remaining 24,000 Options (including 3,000 awarded to PDMRs)
are exercisable at a price of 1 pence per Ordinary Share from two
years following the date of award until the tenth anniversary of
the date of award. All of these Options are granted over shares
already in issue and held by Cambridge Cognition Trustees Limited
on behalf of the Employee Benefit Trust.
Following the grant of Options, the total number of Options
outstanding over unissued Ordinary Shares is 973,406, representing
approximately 4.03% of the Company's issued share capital.
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 Jennifer Barnett - Chief Scientific
Officer
Ricky Dolphin - Chief Technology Officer
Malcolm Gates - Director of Group
Finance
Mark Miller-Holliday - Director of
International Sales and Business Development
-------------------------- ----------------------------------------------
2. Reason for the Notification
--------------------------------------------------------------------------
a) Position/status See 1(a) above for positions - all
classified as PDMRs of the Company
-------------------------- ----------------------------------------------
b) Initial notification/ Initial Notification
Amendment
-------------------------- ----------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Cambridge Cognition Holdings Plc
-------------------------- ----------------------------------------------
b) LEI 213800SZKDIN122EPA96
-------------------------- ----------------------------------------------
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 In each case, the grant of Options
Financial instrument, over Ordinary Shares on 16 April 2019
type of instrument
Identification code GB00B8DV9647
-------------------------- ----------------------------------------------
b) Nature of the transaction Grant of Options over Ordinary Shares
-------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price: n/a
Volumes:
Jennifer Barnett - 25,000 Options
Ricky Dolphin - 10,000 Options
Malcolm Gates - 26,500 Options
Mark Miller-Holliday - 1,500 Options
-------------------------- ----------------------------------------------
d) Aggregated information: n/a
* Aggregated volume
* Price
-------------------------- ----------------------------------------------
e) Date of the transaction 16 April 2019
-------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- ----------------------------------------------
The information communicated in this announcement is inside
information for the purposes of Article 7 of EU Regulation
596/2014
Enquiries
Cambridge Cognition Holdings PLC
Steven Powell, Chief Executive Officer Tel: 01223 810 700
Nick Walters, Chief Financial Officer
finnCap Ltd (NOMAD and Joint Broker) Tel: 020 7220 0500
Geoff Nash / Simon Hicks (Corporate Finance)
Alice Lane/ Manasa Patil (ECM)
Dowgate Capital Limited (Joint Broker) Tel: 020 3903 7715
David Poutney/ James Serjeant (Corporate Broking)
IFC Advisory Limited (Financial PR and IR) Tel: 020 3934 6630
Graham Herring/ Miles Nolan/ Zach Cohen
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.
END
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