Oxford Biomedica PLC Long Term Incentive Plan Option Grant (3320M)
September 13 2019 - 9:57AM
UK Regulatory
TIDMOXB
RNS Number : 3320M
Oxford Biomedica PLC
13 September 2019
Long Term Incentive Plan Option Grant
London, UK - 13 September 2019: Oxford Biomedica plc ("Oxford
Biomedica" or the "Company") (LSE:OXB), a leading gene and cell
therapy Group announces that on 12 September 2019 nil-cost share
options over shares of 50 pence each in the Company were granted to
Dmitry Zamoryakhin, who has joined the Senior Executive Team as
Chief Medical Officer, under the Oxford Biomedica 2015 Long Term
Incentive Plan ("LTIP").
Name of individual Title Number of Total shares Percentage of issued
shares subject over which share capital under
LTIP grant options are option
held
Chief Medical
Dmitry Zamoryakhin Officer 30,751 30,751 0.04%
--------------- ---------------- ------------- ---------------------
The LTIP awards are subject to a three year performance period
and become exercisable from the third anniversary of the grant
date, subject to the satisfaction of a performance condition.
The Award shall Vest by reference to an equal weight between the
compounded annual growth rate of the Company's Share Price,
calculated by comparing the average closing share price over the
five Dealing Days immediately preceding the start of the
Performance Period of 617.86p with the average share price of the
Company over the three months immediately preceding the end of the
Performance Period, in accordance with the TSR table below, and the
compounded annual growth rate of the Company's Revenues calculated
by comparing the audited Revenue figure as of 31 December 2018
preceding the start of the Performance period of GBP66.8m, with the
audited Revenue figure as of 31 December 2021, in accordance with
the Revenue table below.
TSR Table
Compound annual growth rate Extent to which Performance
of the Company's share price Condition is satisfied
over the three year Performance
Period
Less than 10% per annum 0%
----------------------------
10% per annum (i.e. 33% over
3 years) 25%
----------------------------
Between 10% per annum and 17.5% On a straight line basis
per annum between 25% and 100%
----------------------------
17.5% per annum or above(i.e.
63% over three years) 100%
----------------------------
Revenue Table
Compound annual growth rate Extent to which Performance
of the Company's revenue over Condition is satisfied
the three year Performance Period
Less than 15% per annum 0%
----------------------------
15% per annum (i.e. 52.1% over
3 years) 25%
----------------------------
Between 15% per annum and 24% On a straight line basis
per annum between 25% and 100%
----------------------------
24% per annum or above (i.e.
90.7% over three years) 100%
----------------------------
There will also be a performance underpin, such that the awards
would only vest to the extent that the Remuneration Committee
considers that the overall performance of the business across the
period justifies it. The share price at the third anniversary of
the grant date will also be averaged across the three month period
immediately preceding the end of the performance period to avoid
rewarding for short term spikes in performance. Clawback and malus
provisions will apply to the awards.
The issued share capital of the Company is 76,767,971 ordinary
shares of 50 pence each.
The Notification of Dealing Forms set out below are provided in
accordance with the requirements of the EU Market Abuse
Regulation.
Notification of Dealing Form
1. Details of the Person Discharging Managerial Responsibility
("PDMR")/person closely associated with them ("PCA")
a) Name Dmitry Zamoryakhin
------------------------- -----------------------------------------
2. Reason for the notification
--------------------------------------------------------------------
a) Position/status Chief Medical Officer
------------------------- -----------------------------------------
b) Initial notification/ Initial Notification
amendment
------------------------- -----------------------------------------
3. Details of the Issuer
--------------------------------------------------------------------
a) Name Oxford Biomedica plc
------------------------- -----------------------------------------
b) LEI code 213800S1GVQNXQ15K851
------------------------- -----------------------------------------
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 Ordinary Shares of 50 pence each
the financial ISIN: GB00BDFBVT43
instrument
Identification
code
------------------------- -----------------------------------------
b) Nature of the Grant of awards over Ordinary Shares
transaction under the Company's Long Term Incentive
Plan Plan. No consideration was paid
for the grant of awards.
------------------------- -----------------------------------------
c) Price(s) and volumes(s) LTIP Award
Price Volume
Nil cost award 30,751
-------
------------------------- -----------------------------------------
d) Aggregated information Awards granted over 30,751 shares in
- Aggregate volume total
- Price N/A
------------------------- -----------------------------------------
e) Date of the transaction 09-12-2019
------------------------- -----------------------------------------
f) Place of the transaction Outside of trading venue
------------------------- -----------------------------------------
-Ends-
For further information, please contact:
Oxford Biomedica plc: Tel: +44 (0)1865 783 000
Natalie Walter, Company Secretary
About Oxford Biomedica
Oxford Biomedica (LSE:OXB) is a leading gene and cell therapy
group focused on developing life changing treatments for serious
diseases. Oxford Biomedica and its subsidiaries (the "Group") have
built a sector leading lentiviral vector delivery platform
(LentiVector(R) ), which the Group leverages to develop in vivo and
ex vivo products both in-house and with partners. The Group has
created a valuable proprietary portfolio of gene and cell therapy
product candidates in the areas of oncology, ophthalmology and CNS
disorders. The Group has also entered into a number of
partnerships, including with Novartis, Sanofi, Axovant Gene
Therapies, Orchard Therapeutics, Santen, Boehringer Ingelheim, the
UK Cystic Fibrosis Gene Therapy Consortium and Imperial
Innovations, through which it has long-term economic interests in
other potential gene and cell therapy products. Oxford Biomedica is
based across several locations in Oxfordshire, UK and employs more
than 480 people. Further information is available at
www.oxb.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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