28 May 2021
Biome Technologies plc
("Biome", "the Company" or "the Group")
Award under 2017 Long Term Incentive Plan ("2017 LTIP")
Biome announces that it has granted share options over a maximum of 37,349 ordinary shares in the Company under its previously announced 2017 LTIP. These share options have been granted to Biome's Group Chief Financial Officer, Robert Smith, and this award is intended to closer align Mr Smith's rewards with those of the Company's shareholders.
The performance award will follow the criteria disclosed in the announcement regarding the set-up of the 2017 LTIP released on 21 December 2017, with the exception of the following changes:
· The exercise price will be 390 pence per ordinary share, the mid-market share price at the close of 26 May 2021; and
· The value pool for these options will commence only when the Company's average closing share price, taken over a 56 day period commencing 63 days before the relevant vesting date, exceeds 390 pence per ordinary share.
The time criterion that restricts the value pool is as per the following vesting profile:
· 10 June 2021: 90% of the value pool
· 10 December 2021: 100% of the value pool (less any amounts awarded under previous vestings)
All vested share options must be exercised by 19 December 2022 under the rules of the 2017 LTIP.
The FCA notification regarding transactions by persons discharging managerial responsibilities made in accordance with the requirements of the EU Market Abuse Regulation which forms part of Domestic UK Law pursuant to the European Union (Withdrawal) Act 2018, is appended below.
For further information please contact:
Biome Technologies plc
Paul Mines, Chief Executive Officer
Rob Smith, Chief Financial Officer
info@biometechnologiesplc.co.uk
Tel: +44 (0) 2380 867 100
Allenby Capital
David Hart/Alex Brearley (Nominated Adviser)
Kelly Gardiner (Sales and Corporate Broking)
Tel: +44 (0) 20 3328 5656
About Biome
Biome Technologies plc is an AIM listed, growth-orientated, commercially driven technology group. Our strategy is founded on building market-leading positions based on patented technology and serving international customers in valuable market sectors. We have chosen to do this by developing products in application areas where the value-added pricing can be justified and are not reliant on government legislation. These products are driven by customer requirements and are compatible with existing manufacturing processes. They are market rather than technology-led.
The Group comprises two divisions, Biome Bioplastics Limited and Stanelco RF Technologies Limited.
Biome Bioplastics is a leading developer of highly-functional, bio-based and biodegradable plastics. The company's mission is to produce bioplastics that challenge the dominance of oil-based polymers.
Stanelco RF Technologies designs, builds and services advanced radio frequency (RF) systems. Dielectric and induction heating products are at the core of a product offering that ranges from portable sealing devices to large furnaces for the fibre optics markets.
www.biomebioplastics.com and www.thinkbioplastic.com
www.stanelcorftechnologies.com
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Robert St John Smith | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Director - Group Chief Financial Officer | ||||
| b) | Initial notification /Amendment | Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Biome Technologies plc | ||||
| b) | LEI | 213800B9QI14B12TAO51 | ||||
| 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 Identification code | Ordinary shares of 5p in Biome Technologies plc. Identification code (ISIN) for Biome Technologies plc ordinary shares: GB00B9Z1M820 | ||||
| b) | Nature of the transaction | Grant of options over ordinary shares of 5p in Biome Technologies plc, pursuant to the Company's 2017 Long Term Incentive Plan | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
Single transaction as in 4 c) above. An option to acquire a maximum of 37,349 shares in Biome Technologies plc at 390 pence per share was granted pursuant to the Company's 2017 Long Term Incentive Plan. | ||||
| e) | Date of the transaction | 27 May 2021 | ||||
| f) | Place of the transaction | Outside of a trading venue | ||||
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