ISSUE OF SHARE OPTIONS

RNS Number : 2366Q

Angle PLC

28 November 2016

 

For immediate release

28 November 2016

ANGLE plc

("ANGLE" or the "Company")

ISSUE OF SHARE OPTIONS

ANGLE plc (AIM: AGL; OTCQX: ANPCY), the specialist medtech company, announces that under the shareholder approved Remuneration Policy the Remuneration Committee has approved the issue of 1,500,000 share options to the Company's executive directors.  The Remuneration Committee has also approved the issue of 1,805,000 share options to certain staff. 

Following the issue of these share options, the Company will have outstanding options over a total of 10,365,806 ordinary shares of £0.10, representing approximately 11.6% of its issued and to be issued share capital.  This leaves approximately 3.9 million options unallocated within the approved limit of up to 16% of the issued and to be issued share capital from time to time.

The exercise price for the new share options is 64.50 pence per share, representing the Company's closing mid-market share price on 25 November 2016, being the latest practicable date prior to this announcement. The options are subject to service and/or performance conditions.

The new share options granted to the executive directors have a term of ten years and are subject to the performance condition that the share price has risen by at least 100% from the share price when the option is issued.

Following the issue of the new share options, the total number of share options held by the executive directors of the Company will be: 

	Options issued	Total options held following issue
Andrew Newland, Chief Executive	1,000,000	4,023,826
Ian Griffiths, Finance Director	500,000	2,046,980

The non-executive directors do not hold share options.

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

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Andrew Newland
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ANGLE plc
b)	LEI	N/A
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 10p each ISIN:     GB0034330679
b)	Nature of the transaction	Grant of options over ordinary shares at an exercise price of 64.5p per share
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 1,000,000
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	28 November 2016
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ian Griffiths
2	Reason for the notification
a)	Position/status	Finance Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ANGLE plc
b)	LEI	N/A
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 10p each ISIN:     GB0034330679
b)	Nature of the transaction	Grant of options over ordinary shares at an exercise price of 64.5p per share
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 500,000
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	28 November 2016
f)	Place of the transaction	Outside a trading venue

For further information:

ANGLE plc	01483 685830
Andrew Newland, Chief Executive Ian Griffiths, Finance Director
Cenkos Securities Stephen Keys (Nominated adviser) Russell Kerr, Olly Baxendale (Sales)	020 7397 8900
FTI Consulting Simon Conway, Mo Noonan, Stephanie Cuthbert Kimberley Ha (US)	020 3727 1000 001 212 850 5612

For Frequently Used Terms, please see the Company's website on http://www.angleplc.com/the-parsortix-system/glossary/

Notes for editors

About ANGLE plc     www.angleplc.com 

ANGLE is a specialist medtech company commercialising a disruptive platform technology that can capture cells circulating in blood, such as cancer cells, even when they are as rare in number as one cell in one billion blood cells, and harvest the cells for analysis.

ANGLE's cell separation technology is called the Parsortix^TM system and it enables a liquid biopsy (simple blood test) to be used to provide the cells of interest. Parsortix is the subject of granted patents in Europe, the United States, Canada, China and Australia and three extensive families of patents are being progressed worldwide. The system is based on a microfluidic device that captures live cells based on a combination of their size and compressibility. Parsortix has a CE Mark for Europe and FDA authorisation is in process for the United States. 

ANGLE has established formal collaborations with world-class cancer centres.  These Key Opinion Leaders are working to identify applications with medical utility (clear benefit to patients), and to secure clinical data that demonstrates that utility in patient studies.  Details are available here http://www.angleplc.com/the-company/collaborators/ 

The analysis of the cells that can be harvested from patient blood with ANGLE's Parsortix system has the potential to help deliver personalised cancer care offering profound improvements in clinical and health economic outcomes in the treatment and diagnosis of various forms of cancer.

The global increase in cancer to a 1 in 3 lifetime incidence is set to drive a multi-billion dollar clinical market. The Parsortix system is designed to be compatible with existing major medtech analytical platforms and to act as a companion diagnostic for major pharma in helping to identify patients that will benefit from a particular drug and then monitoring the drug's effectiveness.

As well as cancer, the Parsortix technology has the potential for deployment with several other important cell types in the future.

ANGLE stock trades on the AIM market of the London Stock Exchange under the ticker symbol AGL and in New York on the OTC-QX under the ticker symbol ANPCY. For further information please visit: www.angleplc.com

 

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