Shield Therapeutics PLC Grant of share options to the CEO (2359J)
December 18 2020 - 12:21PM
UK Regulatory
TIDMSTX
RNS Number : 2359J
Shield Therapeutics PLC
18 December 2020
Shield Therapeutics plc
("Shield" or the "Group" or the "Company")
Grant of share options to the Chief Executive Officer
London, UK, 18 December 2020: Shield Therapeutics plc (LSE:
STX), a commercial stage, pharmaceutical company with a focus on
addressing iron deficiency with its lead product
Feraccru(R)/Accrufer(R) (ferric maltol), announces that on 18
December 2020 it granted share awards in the form of options over
ordinary shares in the capital of the Company ("Ordinary Shares")
under Shield Therapeutics Retention and Performance Share Plan
("RPSP").
In accordance with the requirements of the EU Market Abuse
Regulations the following options have been granted to PDMRs:
Name Option Plan Number of Ordinary Shares under Option Vesting Date
Tim Watts PDMR and CEO RPSP 625,000 Dependent on performance conditions
outlined below vesting can occur up
until 31 December
2021.
------------ --------------------------------------- --------------------------------------
These awards are subject to the following performance
conditions:
1) 60% of the options granted (375,000) will vest if the
Company's market capitalisation is at or above GBP175m for five (5)
consecutive trading days at any time during 2021. The Company's
current market capitalisation is c. GBP66.9m
2) The remaining 40% of the options granted (250,000) will vest
if the Company's market value is at or above GBP300m for five (5)
consecutive trading days at any time during 2021
Mr Watts currently holds 648,700 ordinary shares in the Company,
representing 0.55% of the Company's issued share capital.
1. Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated
with them ("PCA")
a) Name Tim Watts
---------------------------------------- -----------------------------------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
---------------------------------------- -----------------------------------------------------------------------
b) Initial notification/ Initial Notification
amendment
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3. Details of the Issuer
-----------------------------------------------------------------------------------------------------------------
a) Name Shield Therapeutics plc
---------------------------------------- -----------------------------------------------------------------------
b) LEI code 213800G74QWY15FC3W71
---------------------------------------- -----------------------------------------------------------------------
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 financial instrument Options over Ordinary Shares
Identification code
ISIN: GB00BYV81293
---------------------------------------- -----------------------------------------------------------------------
b) Nature of the transaction Grant of awards over Ordinary Shares under the Company's Retention and
Performance Share Plan.
---------------------------------------- -----------------------------------------------------------------------
c) Price(s) and volumes(s) 2020 RPSP Award
Price (GBP) Volume
0.015 625,000
--------
---------------------------------------- -----------------------------------------------------------------------
d) Aggregated information
* Aggregate volume Awards granted over 625,000 shares in total
1.5p exercise price
* Price
---------------------------------------- -----------------------------------------------------------------------
e) Date of the transaction 18 December 2020
---------------------------------------- -----------------------------------------------------------------------
f) Place of the transaction Outside of trading venue
---------------------------------------- -----------------------------------------------------------------------
For further information please contact:
Shield Therapeutics plc www.shieldtherapeutics.com
Tim Watts, CEO +44 (0)20 7186 8500
Lucy Huntington-Bailey, Company
Secretary and General Counsel +44 (0)19 1511 8500
Nominated Adviser and Joint
Broker
Peel Hunt LLP
James Steel/Dr Christopher
Golden +44 (0)20 7418 8900
Joint Broker
finnCap Ltd
Geoff Nash/Matt Radley/Alice
Lane +44 (0)20 7220 0500
Financial PR & IR Advisor
Walbrook PR +44 (0)20 7933 8780 or shield@walbrookpr.com
+44 (0)7980 541 893 / +44 (0)7584 391
Paul McManus/Lianne Cawthorne 303
About Shield Therapeutics plc
Shield is a de-risked, specialty pharmaceutical company focused
on commercialising its lead product, Feraccru(R)/Accrufer(R), a
novel, stable, non-salt based oral therapy for adults with iron
deficiency with or without anaemia. Feraccru(R)/Accrufer(R) has
been approved for use in the United States, European Union, UK and
Switzerland and has exclusive IP rights until the mid-2030s.
Feraccru is commercialised in the UK and Europe by Norgine B.V. and
the Company is currently in the process of selecting a
commercialisation partner for the US market. Shield also has an
exclusive licence agreement with Beijing Aosaikang Pharmaceutical
Co., Ltd., for the development and commercialisation of
Feraccru(R)/Accrufer(R) in China, Hong Kong, Macau and Taiwan.
For more information, please visit www.shieldtherapeutics.com .
Follow Shield on Twitter @ShieldTx
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END
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