Creo Medical Group plc
("Creo" or the "Company")
Award of Shares under Share Incentive Plan, Director Dealings, Issue of Equity and TVR
The Company implemented an HMRC approved Share Incentive Plan ("SIP") during 2020 which is available to all of the Company's UK based employees, including Directors.
Under the SIP, shares are acquired in four ways:
· Partnership Shares where an employee can spend up to a £1,800 or 10% of their pre-tax income, whichever is the lower;
· Matching Shares, where Creo can give up to two free Matching Shares for each Partnership Share bought. The plan requires employees to remain in employment for three years to benefit from the Matching Shares;
· Free Shares, where Creo can give up to £3,600 of free shares in any tax year; and
· Dividend Shares where additional shares can be bought with any dividends paid.
The Company has been notified that Yorkshire Building Society, the independent trustee of the SIP, acquired, in accordance with the SIP's rules and on behalf of SIP participants, 111,211 ordinary shares in the Company ("Ordinary Shares"), at a price of £0.765 per Ordinary Share on 29th July 2022 to meet its obligations under the SIP. Under the terms of the SIP, the Company is required to issue to the SIP, two Ordinary Shares in the Company for each Partnership Share purchased, being 216,942 new Ordinary Shares (having taken into account 5,480 ordinary shares held by the Trust which were previously allocated to employees who ceased employment before the shares had vested). These new Ordinary Shares will be held by Yorkshire Building Society as trustee of the SIP.
Craig Gulliford, Richard Rees and Christopher Hancock, executive directors of the Company (the "Participating Directors") have received Partnership Shares at a price of £0.765 per share and Matching Shares at a price of £0.001 per share in accordance with terms of the SIP (the "Transaction"). Following this the Participating Directors' shareholdings in the Company are as set out in the table below:
| Director | Total number of Ordinary Shares purchased or awarded under SIP | Total number of Ordinary Shares held post Transaction |
| Craig Gulliford, CEO | 3,531 | 617,032 |
| Richard Rees, CFO | 3,531 | 77,146 |
| Christopher Hancock, CTO | 3,531 | 4,405,741 |
Accordingly, the Company announces that it has made an application for 216,942 new Ordinary Shares to be admitted to trading on AIM. It is expected that admission will take place on 8 August 2022. Following the allotment and issue, the Company's issued share capital consists of 181,421,938 Ordinary Shares. The Company does not hold any shares in Treasury. As such the total number of shares in issue with voting rights is 181,421,938.
Total Voting Rights (TVR)
The above figure of 181,421,938 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail in relation to the award of the SIP Shares to the Participating Directors.
Enquiries:
| Creo Medical Group plc | |
| Richard Rees (CFO) | +44 (0)1291 606 005 |
| | |
| Cenkos Securities plc | +44 (0)20 7397 8900 |
| Stephen Keys / Camilla Hume (NOMAD) | |
| Michael Johnson / Russell Kerr (Sales) | |
| | |
| Numis Securities Limited (Joint Broker) Freddie Barnfield / James Black / Duncan Monteith | +44 (0)20 7260 1000 |
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| Walbrook PR Ltd | Tel: +44 (0)20 7933 8780 or creo@walbrookpr.com |
| Paul McManus / Sam Allen / Phillip Marriage | Mob: +44 (0)7980 541 893 / +44 (0)7502 558 258 / +44 (0)7867 984 082 |
About Creo Medical
Creo Medical is a medical device company focused on the development and commercialisation of minimally invasive electrosurgical devices, bringing advanced energy to endoscopy.
The Company's vision is to improve patient outcomes through the development and commercialisation of a suite of electrosurgical medical devices, each enabled by CROMA, powered by Kamaptive. The Group has developed the CROMA powered by Kamaptive full-spectrum adaptive technology to optimise surgical capability and patient outcomes. Kamaptive is a seamless, intuitive integration of multi-modal energy sources, optimised to dynamically adapt to patient tissue during procedures such as resection, dissection, coagulation and ablation of tissue. Kamaptive technology provides clinicians with increased flexibility, precision and controlled surgical solutions. CROMA currently delivers bipolar radiofrequency ("RF") energy for precise localised cutting and focused high frequency microwave ("MW") energy for controlled coagulation and ablation via a single accessory port. This technology, combined with the Group's range of patented electrosurgical devices, is designed to provide clinicians with flexible, accurate and controlled clinical solutions. The Directors believe the Company's technology can impact the landscape of surgery and endoscopy by providing a safer, less-invasive and more cost-efficient option for procedures.
For more information, please refer to the website www.creomedical.com
| 1. Details of PDMR | ||||||
| a) | Name | Craig Gulliford | ||||
| b) | Position / status | CEO | ||||
| c) | Initial notification / amendment | Initial notification | ||||
| 2. 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 | Ordinary Shares | ||||
| b) | Nature of the transaction | Purchase of Ordinary Shares under Share Incentive Plan
| ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information
Aggregated volume Price | N/A - Single transaction
| ||||
| e) | Date of the transaction | 2022-07-29 GMT | ||||
| f) | Place of the transaction | London Stock Exchange | ||||
| 1. Details of PDMR | ||||||
| a) | Name | Craig Gulliford | ||||
| b) | Position / status | CEO | ||||
| c) | Initial notification / amendment | Initial notification | ||||
| 2. 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 | Ordinary Shares | ||||
| b) | Nature of the transaction | Award of Ordinary Shares under Share Incentive Plan
| ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information
Aggregated volume Price | N/A - Single transaction
| ||||
| e) | Date of the transaction | 2022-08-01 GMT | ||||
| f) | Place of the transaction | London Stock Exchange | ||||
| 1. Details of PDMR | ||||||
| a) | Name | Richard Rees | ||||
| b) | Position / status | CFO | ||||
| c) | Initial notification / amendment | Initial notification | ||||
| 2. 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 | Ordinary Shares | ||||
| b) | Nature of the transaction | Purchase of Ordinary Shares under Share Incentive Plan
| ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information
Aggregated volume Price | N/A - Single transaction
| ||||
| e) | Date of the transaction | 2022-07-29 GMT | ||||
| f) | Place of the transaction | London Stock Exchange | ||||
| 1. Details of PDMR | ||||||
| a) | Name | Richard Rees | ||||
| b) | Position / status | CFO | ||||
| c) | Initial notification / amendment | Initial notification | ||||
| 2. 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 | Ordinary Shares | ||||
| b) | Nature of the transaction | Award of Ordinary Shares under Share Incentive Plan
| ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information
Aggregated volume Price | N/A - Single transaction
| ||||
| e) | Date of the transaction | 2022-08-01 GMT | ||||
| f) | Place of the transaction | London Stock Exchange | ||||
| 1. Details of PDMR | ||||||
| a) | Name | Christopher Hancock | ||||
| b) | Position / status | CTO | ||||
| c) | Initial notification / amendment | Initial notification | ||||
| 2. 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 | Ordinary Shares | ||||
| b) | Nature of the transaction | Purchase of Ordinary Shares under Share Incentive Plan
| ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information
Aggregated volume Price | N/A - Single transaction
| ||||
| e) | Date of the transaction | 2022-07-29 GMT | ||||
| f) | Place of the transaction | London Stock Exchange | ||||
| 1. Details of PDMR | ||||||
| a) | Name | Christopher Hancock | ||||
| b) | Position / status | CTO | ||||
| c) | Initial notification / amendment | Initial notification | ||||
| 2. 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 | Ordinary Shares | ||||
| b) | Nature of the transaction | Award of Ordinary Shares under Share Incentive Plan
| ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information
Aggregated volume Price | N/A - Single transaction
| ||||
| e) | Date of the transaction | 2022-08-01 GMT | ||||
| f) | Place of the transaction | London Stock Exchange | ||||
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