PureTech Health PLC Director/PDMR Shareholding (9204Y)
May 20 2016 - 11:12AM
UK Regulatory
TIDMPRTC
RNS Number : 9204Y
PureTech Health PLC
20 May 2016
PureTech Health plc
Performance Share Plan
PureTech Health plc ("PureTech") announces that awards of
restricted share units ("RSUs") were granted by PureTech to certain
directors and other persons discharging managerial responsibilities
("PDMRs") pursuant to its Performance Share Plan ("PSP") on 20 May
2016. Each RSU entitles the holder to one ordinary share of par
value one pence each in PureTech ("Ordinary Share") on vesting. The
RSUs were granted for nil consideration. Following vesting, each
recipient will be required to make a payment of one pence per
Ordinary Share on settlement of the RSUs.
The RSUs have been made to the directors and PDMRs in respect of
a total of 2,592,863 Ordinary Shares (representing approximately
1.09 per cent. of the issued ordinary share capital of PureTech) as
follows:
Director/PDMR Number of Percentage Total maximum Percentage
Ordinary of issued number of of issued
Shares in ordinary Ordinary ordinary
respect of share capital Shares subject share capital
RSUs granted to outstanding
on 20 May awards under
2016 the PSP following
the awards
notified
in this announcement
Daphne Zohar 1,109,959 0.47 1,109,959 0.47
Stephen
Muniz 370,726 0.16 370,726 0.16
Michael
MacLean(1) 370,726 0.16 370,726 0.16
David Steinberg 370,726 0.16 370,726 0.16
Eric Elenko 370,726 0.16 370,726 0.16
Vesting of the RSUs is subject to the satisfaction of
performance conditions. The number of Ordinary Shares stated in the
table above is the maximum number that could be issued to each
director or PDMR upon full satisfaction of the performance
conditions attaching to the RSUs.
The performance conditions attaching to the RSUs are based on
the achievement of Total Shareholder Return targets (50 per cent.
of the awards), Net Asset Value growth targets (25 per cent. of the
awards) and targets based on strategic measures (25 per cent. of
the awards), measured over the three year period to 31 December
2018 ("Performance Period"), as further described in the Directors'
Remuneration Report of PureTech's 2015 Annual Report and Accounts.
PureTech's Remuneration Policy and Annual Remuneration Report were
recently approved by PureTech's shareholders at its Annual General
Meeting held on 9 May 2016.
The awards will generally vest following the end of the
Performance Period on determination of the extent to which the
performance conditions have been satisfied. No award can vest
before 1 January 2019. Any awards made will be subject to recovery
and withholding provisions.
As of the date of this announcement, awards over a total of
3,504,353 Ordinary Shares (representing 1.47 per cent. of the
issued ordinary share capital of PureTech) have been awarded and
are outstanding to directors, PDMRs, and employees of and other
service providers to PureTech pursuant to the PSP. PureTech
currently has 237,387,951 Ordinary Shares in issue.
This announcement is made in accordance with Rule 3.1.4(1)(a) R
of the Disclosure and Transparency Rules.
1. Mr. MacLean also holds an option to purchase 159,344 Ordinary
Shares pursuant to the PSP which was granted to him on 29 September
2015.
About PureTech Health
PureTech Health (PureTech Health plc, PRTC.L) is a
cross-disciplinary healthcare company developing innovative
products that could improve the lives of billions of patients.
PureTech is focused on areas of growing scientific and technical
insights that it believes are at an important inflection point,
including the central nervous, gastro-intestinal and immune
systems, and the interactions and signaling between them. PureTech
has a pipeline of more than 30 programs and has approximately 20
clinical studies across its pipeline, targeting multi-billion
dollar market opportunities. PureTech's advanced programs include
five with human proof-of-concept and multiple with pivotal or
registration study readouts in the next two years. PureTech has
over 220 patents and patent applications. PureTech's leading team
and board, along with an advisory network of more than 60 expert
founder-scientists and advisors across multiple disciplines, gives
PureTech access to potentially ground-breaking science and
technological innovation. With healthcare undergoing major
transformation, PureTech believes it is well positioned to develop
and launch medicines for the 21st century. For more information,
visit www.puretechhealth.com and connect with us on Twitter.
For more information, please contact:
PureTech
Allison Mead, Associate Director,
Communications and Investor Relations +1 617 651 3156
FTI Consulting (Communications
adviser to PureTech) +44 (0)20 3727
Ben Atwell / Matthew Cole 1000
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHEBLFLQEFFBBB
(END) Dow Jones Newswires
May 20, 2016 11:12 ET (15:12 GMT)
Puretech Health (LSE:PRTC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Puretech Health (LSE:PRTC)
Historical Stock Chart
From Jul 2023 to Jul 2024