TIDMGDR

RNS Number : 2148H

Genedrive PLC

04 April 2022

Notification and public disclosure of transactions by persons discharging

managerial responsibilities and persons closely associated with them

genedrive plc (LSE: GDR) ("genedrive" or the "Company"), the near patient molecular diagnostics company, announces the following transaction by PDMRs.

The Company has granted share options ("Options") to Russell Shaw, CFO Designate and a PDMR, to acquire a total of 100,000 ordinary shares of 1.5p each ("Ordinary Shares") in the Company under the Company's Share Option Scheme.

The Options have been granted with an exercise price of 30p per share equating to the closing price on the day before the grant and vest after a period of three years, subject to certain performance criteria being met through achieving revenue targets, achieving cash targets and completing certain strategic projects in the year ending June 2024. The Options are exercisable over the period of 10 years from the date of grant.

In addition, Matthew Fowler, outgoing CFO and a PDMR, has today exercised 264,046 Options over Ordinary Shares at a price of 30.5p and following this exercise he subsequently sold 264,046 Ordinary Shares at a price of 36.5p per share. Following the above transaction Matthew Fowler has an interest in 52,500 Ordinary Shares.

Application has been made for 264,046 Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expect to occur on 8 April 2022 and the Ordinary Shares will, on issue, rank pari passu in all respects with the Company's existing Ordinary Shares.

On Admission, the Company will have a total of 92,534,946 Ordinary Share in issue. No Ordinary Shares are held in treasury. The figure of 92,534,946 may be used by the Company's shareholders as the denominator in the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure, Guidance and Transparency Rules.

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a.   Name                                1. Russell Shaw 
     -----------------------  ----------------------------------------------- 
 2.   Reason for the notification 
     ------------------------------------------------------------------------ 
 a.   Position/status               1. CFO Designate 
     -----------------------  ----------------------------------------------- 
 a.   Initial notification     Initial notification 
       /Amendment 
     -----------------------  ----------------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------ 
 a.   Name                     genedrive plc 
     -----------------------  ----------------------------------------------- 
 b.   LEI                      213800ZYODIRZ87Y4K14 
     -----------------------  ----------------------------------------------- 
 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              Options over ordinary shares of 1.5 pence 
       of the                   each 
       Financial instrument, 
       type 
       of instrument 
       Identification           GB00B1VKB244 
       code 
     -----------------------  ----------------------------------------------- 
 b.   Nature of the            Grant of options pursuant to and in accordance 
       transaction              with the terms of the Company's Share Option 
                                Scheme dated 29 November 2017 
     -----------------------  ----------------------------------------------- 
 c.   Price(s) and 
       volume(s) 
 
 
                                  Option price(s)   Volume(s) 
                                  30p               100,000 
                                                   ---------- 
     -----------------------  ----------------------------------------------- 
 d.        Aggregated 
            information          N/A 
            Aggregated 
            volume 
            Price 
     -----------------------  ----------------------------------------------- 
 e.   Date of the              2022-04-04 
       transaction 
     -----------------------  ----------------------------------------------- 
 f.   Place of the             Outside a trading venue 
       transaction 
     -----------------------  ----------------------------------------------- 
 
 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a.   Name                                1. Matthew Fowler 
     -----------------------  ---------------------------------------------------- 
 2.   Reason for the notification 
     ----------------------------------------------------------------------------- 
 a.   Position/status               1. Outgoing CFO 
     -----------------------  ---------------------------------------------------- 
 a.   Initial notification     Initial notification 
       /Amendment 
     -----------------------  ---------------------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------------- 
 a.   Name                     genedrive plc 
     -----------------------  ---------------------------------------------------- 
 b.   LEI                      213800ZYODIRZ87Y4K14 
     -----------------------  ---------------------------------------------------- 
 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              Exercise of Options over ordinary shares 
       of the                   of 1.5 pence each and sale of ordinary shares 
       Financial instrument,    of 1.5p each 
       type 
       of instrument 
       Identification 
       code                     GB00B1VKB244 
     -----------------------  ---------------------------------------------------- 
 b.   Nature of the            Exercise of options pursuant to and in accordance 
       transaction              with the terms of the Company's Share Option 
                                Scheme dated 29 November 2017 and subsequent 
                                sale of ordinary shares 
     -----------------------  ---------------------------------------------------- 
 c.   Price(s) and 
       volume(s) 
 
                                  Option exercise price   No. of options exercised 
                                  30.5p                   264,046 
                                                         ------------------------- 
 
 
                                  Sale price   No. of ordinary shares 
                                                sold 
                                  36.5p        264,046 
                                              ----------------------- 
     -----------------------  ---------------------------------------------------- 
 d.        Aggregated 
            information          Gross proceeds realised of GBP96,376.79 
            Aggregated 
            volume 
            Price 
     -----------------------  ---------------------------------------------------- 
 e.   Date of the              2022-04-04 
       transaction 
     -----------------------  ---------------------------------------------------- 
 f.   Place of the             Outside a trading venue and Aim for the 
       transaction              disposal 
     -----------------------  ---------------------------------------------------- 
 

For further details please contact:

 
 genedrive plc                                                          +44 (0)161 989 0245 
 David Budd: CEO / Matthew Fowler: CFO 
 
 
 Peel Hunt LLP (Nominated Adviser and 
  Joint Broker)                                                         +44 (0)20 7418 8900 
 James Steel 
 
 
 finnCap (Joint Broker)                                                  +44 (0)20 7220 500 
 Geoff Nash / Kate Bannatyne / Alice 
  Lane 
 
 
 Walbrook PR Ltd (Media Relations &         +44 (0)20 7933 8780 or genedrive@walbrookpr.com 
  Investor Relations) 
                                                          +44 (0)7980 541 893 / +44 (0)7876 
 Paul McManus / Anna Dunphy                                                         741 001 
 
 
 

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