PureTech Health PLC PDMR Notification RSU Vesting (5702Q)
June 22 2020 - 2:00AM
UK Regulatory
TIDMPRTC
RNS Number : 5702Q
PureTech Health PLC
22 June 2020
PureTech Health plc
22 June 2020
PureTech Health plc
PDMR Notifications
PureTech Health plc (LSE: PRTC) ("PureTech" or the "Company"), a
clinical-stage biotherapeutics company dedicated to discovering,
developing and commercialising highly differentiated medicines for
devastating diseases , announces that awards of restricted share
units ("RSUs") granted by PureTech on 19 May 2017 to certain
directors and other persons discharging managerial responsibilities
("PDMRs") pursuant to its Performance Share Plan ("PSP") vested in
full on 27 February 2020 following satisfaction of all of the
performance conditions measured over the three year period to 31
December 2019.
The vesting would have resulted in the award of ordinary shares
in the Company (subject to deduction of payroll taxes) in
accordance with the following table:
Director/PDMR Ordinary Share Award
Daphne Zohar 1,362,393
---------------------
Bharatt Chowrira 1,010,495
---------------------
Joseph Bolen 455,039
---------------------
Eric Elenko 455,039
---------------------
Stephen Muniz 455,039
---------------------
The Company's Remuneration Committee decided to exercise its
discretion in accordance with the Company's revised remuneration
policy adopted by the Company on 11 June 2020 and the rules of the
PSP and took the decision to cash settle the vested shares in full,
resulting in the PDMRs receiving cash payments (after deduction of
payroll taxes) and not ordinary shares in the Company.
The market price per ordinary share in the Company used to
calculate the amount payable to the PDMRs was 268 pence, being the
average closing price of the Company's shares over the three
trading day period immediately preceding the settlement, and the
exchange rate used to calculate the cash payment was
GBP1:$1.25.
The Company's total issued ordinary share capital is 285,497,461
shares, which is unchanged by the above transactions.
PDMR Notification
The information contained in the below notification is disclosed
in accordance with Article 19 of the EU Market Abuse
Regulation.
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Daphne Zohar
Bharatt Chowrira
Joseph Bolen
Eric Elenko
Stephen Muniz
------------------------------------------- --------------------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Daphne Zohar - Chief Executive Officer
Bharatt Chowrira - President and Chief of Business and Strategy
Joseph Bolen - Chief Scientific
Officer
Eric Elenko - Chief Innovation Officer
Stephen Muniz - Chief Operating Officer
------------------------------------------- --------------------------------------------------------------------
b) Initial notification/Amendment Initial Notification
------------------------------------------- --------------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name PureTech Health plc
------------------------------------------- --------------------------------------------------------------------
b) LEI 213800LVPDNO2Z9T9I39
------------------------------------------- --------------------------------------------------------------------
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 PureTech Health
the financial plc
instrument, type ISIN GB00BY2Z0H74
of instrument
------------------------------------------- --------------------------------------------------------------------
b) Nature of the Cash settlement by PureTech Health plc of an amount equivalent to
transaction the value of Ordinary Shares
on the vesting of RSU's under the Puretech Health Performance Share
Plan, after the deduction
of payroll taxes
------------------------------------------- --------------------------------------------------------------------
c) Price(s) and Recipient Amount
volume(s) Daphne Zohar $2,606,837
-----------
Bharatt Chowrira $1,921,150
-----------
Joseph Bolen $887,208
-----------
Eric Elenko $887,208
-----------
Stephen Muniz $887,208
-----------
------------------------------------------- --------------------------------------------------------------------
d) Aggregated information- Aggregated volume Price Aggregate Volume
n/a n/a
- Price -----------------
------------------------------------------- --------------------------------------------------------------------
e) Date of the transaction 18 June 2020
------------------------------------------- --------------------------------------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------------------------- --------------------------------------------------------------------
About PureTech Health
PureTech is a clinical-stage biotherapeutics company dedicated
to discovering, developing and commercialising highly
differentiated medicines for devastating diseases, including
intractable cancers, lymphatic and gastrointestinal diseases,
central nervous system disorders and inflammatory and immunological
diseases, among others. The Company has created a broad and deep
pipeline through the expertise of its experienced research and
development team and its extensive network of scientists,
clinicians and industry leaders. This pipeline, which is being
advanced both internally and through PureTech's Founded Entities,
is comprised of 24 products and product candidates, including two
that have been cleared by the US Food and Drug Administration
(FDA). All of the underlying programmes and platforms that resulted
in this pipeline of product candidates were initially identified or
discovered and then advanced by the PureTech team through key
validation points based on the Company's unique insights into the
biology of the brain, immune and gut, or BIG, systems and the
interface between those systems, referred to as the BIG Axis.
For more information, visit www.puretechhealth.com or connect
with us on Twitter @puretechh.
Contact:
Investors EU media
Allison Mead Talbot Ben Atwell, Rob Winder
+1 617 651 3156 +44 (0) 20 3727 1000
amt@puretechhealth.com ben.atwell@FTIconsulting.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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