Midatech Pharma PLC Grant of Options (1648Q)
June 17 2020 - 2:00AM
UK Regulatory
TIDMMTPH
RNS Number : 1648Q
Midatech Pharma PLC
17 June 2020
17 June 2020
Midatech Pharma PLC
("Midatech" or the "Company")
Grant of Options
PDMR dealings
Midatech Pharma PLC (AIM: MTPH.L; Nasdaq: MTP), a drug delivery
technology company focused on improving the bio-delivery and
bio-distribution of medicines announces that options over a total
of 1,401,000 ordinary shares of 0.1 pence each in the capital
Company have been granted to employees under the 2014 Midatech
Pharma plc Enterprise Management Incentive Scheme ("Options").
Of these Options, 500,000 in aggregate have been granted to two
executives designated as PDMRs; Stephen Stamp, Chief Executive
Officer, Chief Financial Officer and director of the Company and
Steve Damment, Executive Vice President of R&D resulting in
them having the following interests in the Company:
Director Award of Options Resulting interest Current shareholding
in options in the Company
Stephen Stamp -
Chief Executive
Officer, Chief
Financial Officer 300,000 350,000 50,000
Steve Damment -
Executive Vice
President, R&D 200,000 222,890 2,000
The Options have an exercise price of 20.2 pence per share. The
Options will vest 25% upon the one year anniversary of grant, with
the remainder vesting in 12 equal tranches quarterly over the
following three years. Once vested, the options will be exercisable
until 16 June 2030.
The Options granted represent 3.6 per cent. of the issued share
capital.
In addition to the Options, in order to incentivise and retain
certain employees during the ongoing Strategic Review, the
Remuneration Committee has agreed that a cash bonus would become
payable upon the successful sale of the Company or a sale of all or
substantially all the assets of Midatech, or upon the solvent
winding up of the Company, based on the value of such exit
event.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Stephen Stamp
------------------------------------- ----------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer, Chief Financial
Officer
------------------------------------- ----------------------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------
a) Name Midatech Pharma plc
------------------------------------- ----------------------------------------------
b) LEI 549300GKR2G40H3QFY57
------------------------------------- ----------------------------------------------
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 Options over Ordinary shares of 0.1
financial instrument, pence each in Midatech Pharma plc
type of instrument
Identification code GB00BKT14T00
b) Nature of the transaction Grant of Options over Ordinary shares
------------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
--------------------- --------------------
Price(s) Volume(s)
--------------------- --------------------
20.2 p 300,000
--------------------- --------------------
d) Aggregated information
- Aggregated volume As above
- Price
e) Date of the transaction 17 June 2020
------------------------------------- ----------------------------------------------
f) Place of the transaction Off market transaction
------------------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Steve Damment
------------------------------------- -------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------
a) Position/status Executive Vice President, R&D
------------------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------
a) Name Midatech Pharma plc
------------------------------------- -------------------------------------------
b) LEI 549300GKR2G40H3QFY57
------------------------------------- -------------------------------------------
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 Options over Ordinary shares of 0.1
financial instrument, pence each in Midatech Pharma plc
type of instrument
Identification code GB00BKT14T00
b) Nature of the transaction Grant of Options over Ordinary shares
------------------------------------- -------------------------------------------
c) Price(s) and volume(s)
------------------- -------------------
Price(s) Volume(s)
------------------- -------------------
20.2 p 200,000
------------------- -------------------
d) Aggregated information
- Aggregated volume As above
- Price
e) Date of the transaction 17 June 2020
------------------------------------- -------------------------------------------
f) Place of the transaction Off market transaction
------------------------------------- -------------------------------------------
For more information, please contact:
Midatech Pharma PLC
Stephen Stamp, CEO, CFO
Tel: +44 (0)1235 888300
www.midatechpharma.com
Panmure Gordon (UK) Limited (Nominated Adviser and Broker)
Freddy Crossley, Emma Earl (Corporate Finance)
James Stearns (Corporate Broking)
Turner Pope Investments (TPI) Limited (Joint Broker)
Andrew Thacker (Corporate Broking)
Tel: +44(0)20 3657 0050
IFC Advisory Limited (Financial PR and UK Investor Relations)
Tim Metcalfe / Graham Herring
Tel: +44 (0)20 3934 6630
Email: midatech@investor-focus.co.uk
Edison Group (US Investor Relations)
Joseph Green/ Laine Yonker
Tel: (646) 653-7030/ 7035
jgreen@edisongroup.com/ lyonker@edisongroup.com
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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