TIDMMEDG TIDMMEDU
RNS Number : 3265Z
Medgenics Inc
12 January 2011
Medgenics, Inc.
(the "Company")
Issue of Options to Non-Executive Directors
12 January 2011
Medgenics, Inc. (AIM: MEDG, MEDU), the company that has
developed a novel technology for the manufacture and delivery of
therapeutic proteins continuously in patients using their own
tissue, announces that on 11 January 2011 it granted options to
subscribe for 450,000 common shares of par value US$0.0001 each in
the Company ("Common Shares") to each of Joel Kanter, Stephen
McMurray, Gary Brukardt and Alastair Clemow all non-executive
directors of the Company, as part of their remuneration for the
year.
All of these options are for a term of 10 years commencing on 2
January 2011 (the "Reference Date"), vest in equal instalments on
each of the first three anniversaries of the Reference Date and
have an exercise price of US$0.187 or, based on an exchange rate of
GBP1=US$1.547704, 12 pence per Common Share, being the average of
the MEDU.LN closing price for the ten trading days prior to the
Reference Date.
These option grants were granted in accordance with the Board
approved, non-executive director compensation program, adopted in
March 2010, which provides for each non-executive director: an
annual grant of options to purchase 450,000 Common Shares; an
annual cash retainer fee of $5,000; and meeting fees ranging from
$750 to $2,000 per meeting, depending on the location and type of
meeting. In addition, committee chairmen are entitled to an annual
cash fee of $1,500.
Following the grant of these options, the interests of the
directors of the Company and their related parties in the Common
Shares will be as follows:
% of % of
Issued Issued
Common Share Expiry Exercise Total Share
Name Shares Capital Instrument Number Date Price interests Capital
The Executors
of Lord
Leonard
Steinberg's
estate &
Steinberg
family 19,040,957 Warrant 1,145,964 31/5/2012 $0.164
Warrant 763,997 12/04/2012 $0.164
Warrant 832,423 12/04/2012 $0.194
Warrant 450,000 30/1/2012 $0.25
2009
Debentures 1,416,667 $0.12*
2009
Debentures 495,833 $0.132*
----------- -------- ----------- ----------- ----------- ----------- ----------- --------
Total 19,040,957 10.3% 5,104,884 24,145,841 13.0%
River
Charitable
Remainder
Unitrust
f/b/o Isaac 2010
Blech - Debentures 10,750,000 $0.20*
Warrant 8,062,500 22/9/2015 16p
----------- -------- ----------- ----------- ----------- ----------- ----------- --------
Total - 0.0% 18,812,500 18,812,500 10.1%
CIBC Trust
Company
(Bahamas)
Limited, as
Trustee of 2009
T-555 10,665,177 Debentures 333,333 $0.12*
2009
Debentures 116,667 $0.132*
2010
Debentures 500,000 $0.20*
Warrant 375,000 22/9/2015 16p
----------- -------- ----------- ----------- ----------- ----------- ----------- --------
Total 10,665,177 5.8% 1,775,000 12,440,177 6.7%
Alta Partners 7,482,981 4.0% 7,482,981 4.0%
UK Private
Healthcare
Limited 7,000,000 3.8% 7,000,000 3.8%
Platinum
Montaur Life
Sciences I
LLC 7,190,208 Warrant 1,604,362 13/8/2012 $0.164
Warrant 1,604,362 12/04/2012 $0.164
----------- -------- ----------- ----------- ----------- ----------- ----------- --------
Total 7,190,208 3.9% 3,208,724 10,398,932 5.6%
Vision
Opportunity
Master Fund,
Ltd. 7,094,851 Warrant 7,059,192 31/3/2011 $0.071
Warrant 2,673,936 23/10/2011 $0.117
----------- -------- ----------- ----------- ----------- ----------- ----------- --------
7,094,851 3.8% 9,733,128 16,827,979 9.1%
Eugene A.
Bauer
(Director) 6,664,640 Option 2,881,434 13/11/2012 $0.21
Option 1,000,000 13/9/2020 $0.234
----------- -------- ----------- ----------- ----------- ----------- ----------- --------
Total 6,664,640 3.6% 3,881,434 10,546,074 5.7%
Chicago
Investments,
Inc. 20,933,116 Warrant 187,500 22/9/2015 16p
2009
Debentures 541,667 $0.12*
2009
Debentures 189,583 $0.132*
2010
Debentures 250,000 $0.20*
----------- -------- ----------- ----------- ----------- ----------- ----------- --------
Total 20,933,116 11.3% 1,168,750 22,101,866 11.9%
Stephen D.
McMurray 2009
(Director) 2,484,849 Debentures 41,667 $0.12*
2009
Debentures 14,583 $0.132*
Options 1,156,830 14/11/2012 $0.21
Options 1,000,000 13/9/2020 $0.234
Options 450,000 5/1/2021 $0.187
----------- -------- ----------- ----------- ----------- ----------- ----------- --------
Total 2,484,849 1.3% 2,663,080 5,147,929 2.8%
Joel S.
Kanter
(Director) &
related 2009
interests 36,008,688 Debentures 1,000,000 $0.12*
2010
Debentures 1,250,000 $0.20*
2009
Debentures 350,000 $0.132*
Warrants 937,500 22/9/2015 16 pence
Warrants 450,000 30/1/2012 $0.25
Warrants 96,413 13/2/2012 $0.25
Options 1,708,110 14/11/2012 $0.21
Options 1,000,000 13/9/2020 $0.234
Options 450,000 5/1/2021 $0.187
----------- -------- ----------- ----------- ----------- ----------- ----------- --------
Total 36,008,688 19.4% 7,242,023 43,250,711 23.3%
Andrew L.
Pearlman
(Director) &
related
interests 1,238,185 Warrants 31,681,652 31/3/2016 $0.071
Warrants 1,257,285 31/3/2016 $0.0000047
Options 6,398,216 31/3/2016 $0.071
Options 3,199,097 14/11/2012 $0.21
----------- -------- ----------- ----------- ----------- ----------- ----------- --------
Total 1,238,185 0.7% 42,536,250 43,774,435 23.6%
Gary Brukardt
(Director) 1,106,416 Warrants 2,117,758 21/6/2011 $0.071
Options 1,599,549 18/9/2011 $0.071
Options 934,680 14/11/2012 $0.21
Options 1,000,000 13/9/2020 $0.234
Options 450,000 5/1/2021 $0.187
----------- -------- ----------- ----------- ----------- ----------- ----------- --------
Total 1,106,416 0.6% 6,101,987 7,208,403 3.9%
Alastair
Clemow
(Director) - Options 450,000 13/9/2020 $0.234
Options 450,000 5/1/2021 $0.187
----------- -------- ----------- ----------- ----------- ----------- ----------- --------
Total - 0.0% 900,000 900,000 0.5%
Notes
1 Based on estimated conversion price of US $0.12 per Common
Share
2 Based on estimated conversion price of US $0.20 per Common
Share
3 For the purpose of the AIM Rules, also included within the
interests of Joel Kanter (Director)
4 Included within the interests of Joel Kanter are his interests
in:
i. 2,497,233 Common Shares held by the Kanter Family Foundation,
an Illinois not-for-profit corporation of which Mr. Kanter is the
President and is a Director;
ii. 10,665,177 Common Shares held by CIBC Trust Company
(Bahamas) Limited ("CIBC"). CIBC is the trustee of Settlement T-555
(the "CIBC Trust"). The CIBC Trust was established for the benefit
of various descendants of (i) Helen and Henry Krakow, and (ii)
Beatrice and Morris Kanter. Mr. Kanter is a discretionary
beneficiary of the CIBC Trust. Sole voting and investment control
of the Common Shares owned by the CIBC Trust is vested in CIBC as
trustee of the CIBC Trust;
iii. 5,782,807 Common Shares held by Chicago Investments, Inc.
("CII"). CII is a majority-owned subsidiary of Chicago Holdings,
Inc. ("CHI"). CHI is majority owned by various trusts (together the
"Kanter Trusts") established for the benefit of various descendants
of (i) Helen and Henry Krakow, and (ii) Beatrice and Morris Kanter.
Joel Kanter is a discretionary beneficiary of some, but not all, of
the Kanter Trusts. Sole voting and investment control of the Common
Shares owned by CII is vested in Mr. Kanter's brother, Joshua
Kanter, as President of CII; and
iv. 15,390,774 Common Shares held by Chicago Private
Investments, Inc ("CPI"). CPI is a wholly owned subsidiary of The
Holding Company ("THC"). THC is owned by Kanter Trusts. Sole voting
and investment control of the shares of the Company owned by CPI is
vested in Mr. Kanter's brother, Joshua Kanter, as President of
CPI.
For the purposes of applicable US Securities Laws and
regulations, Mr. Kanter disclaims all beneficial and pecuniary
interest to the Common Shares held by CII and CPI and the CIBC
Trust. Such disclaimer does not affect Mr. Kanter's status as a
discretionary beneficiary under the Kanter Trusts or the CIBC
Trust.
5 Including interests in 3,316 Common shares held by family
members and 60,174 Common Shares held by ADP Holdings LLC, a
company in which Andrew Pearlman is interested.
* Estimated for the purpose of these calculations
For further information, contact:
Medgenics, Inc. Phone: +972 4 902 8900
Dr. Andrew L. Pearlman
------------------------------------- ------------------------
Religare Capital Markets (Nominated Phone: +44 20 7444 0800
Adviser)
James Pinner
Derek Crowhurst
------------------------------------- ------------------------
SVS Securities plc (Joint Broker) Phone: +44 20 7638 5600
Ian Callaway
------------------------------------- ------------------------
Nomura Code Securities PLC (Joint Phone: +44 20 7776 1219
Broker)
Jon Senior
------------------------------------- ------------------------
De Facto Communications Phone: +44 20 7861 3838
Mike Wort
Anna Dunphy
------------------------------------- ------------------------
Grayling (Investment Relations - US) Phone: +1 646 284 9472
Leslie Wolf-Creutzfeldt
------------------------------------- ------------------------
<ENDS>
This information is provided by RNS
The company news service from the London Stock Exchange
END
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