Source - RNS
RNS Number : 1354L
Venture Life Group PLC
29 September 2016
 

Venture Life Group plc

("Venture Life" or the "Company")

 

Venture Life Group plc 2016 Long Term Incentive Plan and Grant of Options to PDMRs

 

Venture Life (AIM: VLG), the international consumer self-care group focused on developing, manufacturing and commercialising products for the ageing population, announces that it has adopted a new Long Term Incentive Plan, the Venture Life Group plc 2016 Long Term Incentive Plan ("LTIP").  Initial grants of nominal-cost share options ("Options") over ordinary shares of 0.3p each in Venture Life Group plc ("Shares") pursuant to the LTIP were made on 28 September 2016.

 

Grant of Options

On 28 September 2016 (the "Date of Grant"), Venture Life granted Options over a total of 1,641,247 Shares to its four Executive Directors, all of whom are regarded as Persons Discharging Managerial Responsibilities ("PDMRs") for the Company.

 

Vesting of the Options is subject to continued employment and the Group meeting objective performance conditions, namely the Company's Earnings Per Share ("EPS") performance and relative Total Shareholder Return (share price performance plus dividends added back - "TSR"). Half of the Shares under an Option are subject to EPS performance conditions, and half of the Shares under an Option are subject to TSR performance conditions.

 

The first tranche of Options granted over a total of 611,598 Shares ("Grant 1") will ordinarily vest on 25 March 2018, subject to meeting the performance conditions set for the Company's EPS over the three financial years ending 31 December 2017 and TSR for the three years commencing 26 March 2015.

 

The second tranche of Options granted over a total of 1,029,649 Shares ("Grant 2") will ordinarily vest on the third anniversary of the Date of Grant, subject to meeting the performance conditions set for the Company's EPS over the three financial years ending 31 December 2018 and TSR for the three years commencing on the Date of Grant.  

 

The Options are exercisable at a price of 0.3p per Share.

 

Director

Position

No. of Shares under Option - Grant 1

No. of Shares under Option - Grant 2

Combined no. of Shares under Options

Total number of Shares under options held

Jerry Randall

Chief Executive Officer

203,390

                   340,183

543,573

1,894,793

Gianluca Braguti

Manufacturing Director

153,971

264,237

418,208

418,208

Sharon Collins

Commercial Director

135,593

                  226,789

362,382

1,713,602

James Hunter

Chief Financial Officer

118,644

198,440

317,084

917,084



611,598

1,029,649

1,641,247

4,943,687

 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

 

 

 

 

 

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

 

 1

 

Details of the person discharging managerial responsibilities / person closely associated 

a)

 

Names 

Jerry Randall - Chief Executive Officer

Gianluca Braguti - Manufacturing Director

Sharon Collins - Commercial Director

James Hunter - Chief Financial Officer

 

2

 

Reason for the notification

a)

 

Position/status

 

See 1(a) above for positions - all classified as PDMRs of Venture Life

b)

 

Initial notification /Amendment

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 

a)

 

Name

 

Venture Life Group plc

b)

 

LEI

 

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, type of instrument

 

Ordinary Shares of 0.3p each in Venture Life Group plc

b)

Identification code 

 

GB00BFPM8908

c)

 

Nature of the transaction 

 

Grant of Options over Ordinary Shares pursuant to the Venture Life Group plc 2016 Long Term Incentive Plan

 

d)

 

Price and volumes

Price - nil

Volumes:

Jerry Randall - 543,573 Ordinary Shares

Gianluca Braguti - 418,208 Ordinary Shares

Sharon Collins -  362,382 Ordinary Shares

James Hunter - 317,084 Ordinary Shares

d)

 

Aggregated information 

- Aggregated volume

- Price

 N/a

 

e)

 

Date of the transaction 

28 September 2016

f)

Place of the transaction

Outside a trading venue

 

Name of authorised official of issuer responsible for making notification.

James Hunter

Company Secretary to Venture Life Group plc

 

For further information please contact:

Venture Life Group PLC

+44 (0) 1344 742870

Jerry Randall, Chief Executive Officer

 

James Hunter, Chief Financial Officer   

 

 

 

Panmure Gordon (UK) Limited (Nominated Adviser and Joint Broker)

+44 (0) 20 7886 2500

Freddy Crossley/Peter Steel/Duncan Monteith (Corporate Finance)

 

Tom Salvesen (Corporate Broking)

 


 

Turner Pope Investments (TPI) Ltd (Joint Broker)

+44 (0) 20 3621 4120

James Pope/Ben Turner

 


 

Walbrook PR

[email protected] or +44 (0) 20 7933 8780

Paul McManus/Anna Dunphy

+44 (0) 7980 541 893 / +44 (0) 7876 741 001

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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