Venn Life Sciences Holdings PLC Grant of Stock Options (8182Q)
September 14 2017 - 12:19PM
UK Regulatory
TIDMVENN
RNS Number : 8182Q
Venn Life Sciences Holdings PLC
14 September 2017
Venn Life Sciences Holdings Plc
("Venn" or the "Company" or the "Group")
Grant of Stock Options to Directors and Management
Venn Life Sciences (AIM: VENN), a growing Contract Research
Organisation providing drug development, clinical trial management
and resourcing solutions to pharmaceutical, biotechnology and
medical device clients, announces that it has granted stock options
to directors and senior management of the Company.
The stock options were granted on the 14 September 2017 over a
total of 4,310,000 common shares representing 7.1% of the issued
share capital of the Company at an exercise price of 13 pence
representing the closing price on 13 September. The options vest in
three equal instalments when the Company's share price trades at
25p, 35p and 45p for twenty consecutive days.
Of the 4,310,000 stock options 4,060,000 were issued to
directors and 250,000 were issued to senior management. Following
this award of options, the total number of shares under option to
directors and management is 8,020,000 representing 13.3% of the
Company's issued share capital. Existing share options of 3,710,000
are amended so as to be exercisable at the same price and with the
same vesting criteria as the new options.
The allocation of stock options to Persons Discharging
Managerial Responsibilities was as follows:
Director Position New Options Total Current Current
Issued Options Shareholding shareholding
Held in Venn as a
Life percentage
Sciences of current
issued
share
capital
----------------- ----------------- ------------ ---------- -------------- --------------
Chief Executive
Tony Richardson Officer 2,340,000 3,250,000 621,667 1.03%
----------------- ----------------- ------------ ---------- -------------- --------------
Christina Chief Operating
Mila Officer 770,000 770,000 Nil -
----------------- ----------------- ------------ ---------- -------------- --------------
Allan Wood Chairman 550,000 550,000 230,000 0.38%
----------------- ----------------- ------------ ---------- -------------- --------------
Non-Executive
Mike Ryan Director 200,000 200,000 273,258 0.45%
----------------- ----------------- ------------ ---------- -------------- --------------
Non-Executive
Mary Sheahan Director 200,000 200,000 Nil ` -
----------------- ----------------- ------------ ---------- -------------- --------------
Enquiries:
Venn Life Sciences Holdings www.vennlifesciences.com
Plc
Allan Wood, Non-Executive Chairman Tel: +44 (0)7785 325
898
Tony Richardson, Chief Executive Tel: +353 154 99 341
Officer
Davy (Nominated Adviser, ESM
Adviser and Joint Broker)
Fergal Meegan / Matthew de Vere Tel: +353 1 679 6363
White (Corporate Finance)
Hybridan LLP (Co-Broker)
Claire Louise Noyce Tel: +44(0) 20 3764
2341
Walbrook PR Ltd Tel: +44(0)20 7933 8787
or venn@walbrookpr.com
Paul McManus Mob: +44(0) 7980 541
893
Lianne Cawthorne Mob: +44(0) 7584 391
303
About Venn Life Sciences:
Venn Life Sciences is a European Contract Research Organisation
providing drug development, clinical trial management and
resourcing solutions to pharmaceutical, biotechnology, academic and
medical device organisations. With dedicated operations in France,
Germany, the Netherlands, the UK, Ireland and Europe wide
representation - Venn specialises in tailored end to end drug
development consultancy and clinical trial management services.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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