Grant of Options

RNS Number : 6374E

Cambridge Cognition Holdings PLC

10 May 2017

 

Cambridge Cognition Holdings Plc

('Cambridge Cognition' or the 'Company')

Grant of Options

The neuroscience digital health company Cambridge Cognition Holdings PLC (Cambridge, UK - LSE: COG), which develops and markets software products to improve brain health, announces that on 9 May 2017, the Company granted options ("Options") over a total of 165,000 ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") pursuant to the Company's EMI option scheme and the Company's unapproved option scheme.

Of these Options:

-     45,000 were granted to Persons Discharging Managerial Responsibilities ("PDMRs") on behalf of the Company; and

-     120,000 were granted to other employees of the Company.

The 45,000 Options granted to PDMRs together with 80,000 of the 120,000 Options granted to other employees are exercisable at a price of 1 pence per Ordinary Share from three years following the date of award until the tenth anniversary of the date of award, subject to satisfying the following performance criteria:

-     55% of the Options granted will vest if the average closing mid-market price of an Ordinary Share for the final 10 trading days of 2018 is greater than 140 pence per Ordinary Share. A pro rata sliding scale will apply if the average closing mid-market price of an Ordinary Share for the final 10 trading days of 2018 is between 100 pence and 140 pence per Ordinary Share; and

-     45% of the Options granted will vest if the cumulative revenue of the Company reported in the audited accounts for the three financial years ended 31 December 2018 exceeds £23m.

The remaining 40,000 Options are exercisable at a price of 1 pence per Ordinary Share from two years following the date of award until the tenth anniversary of the date of award.  36,000 of these Options are granted over shares already in issue and held by Cambridge Cognition Trustees Limited on behalf of the Employee Benefit Trust.

Following the grant of Options, the total number of Options outstanding over unissued Ordinary Shares is 2,217,118, representing approximately 10.85% of the Company's issued share capital.

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	Jeremy Jones - Head of Sales Ricky Dolphin - Technical & Operations Director
2.	Reason for the Notification
a)	Position/status	See 1(a) above for positions - all classified as PDMRs of the Company
b)	Initial notification/ Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cambridge Cognition Holdings 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	In each case, the grant of Options over Ordinary Shares on 9 May 2017
	Identification code	GB00B8DV9647
b)	Nature of the transaction	Grant of Options over Ordinary Shares
c)	Price(s) and volume(s)	Price: n/a Volumes: Jeremy Jones - 20,000 Options Ricky Dolphin - 25,000 Options
d)	Aggregated information: ·      Aggregated volume ·      Price	n/a
e)	Date of the transaction	9 May 2017
f)	Place of the transaction	Outside a trading venue

Enquiries

Cambridge Cognition Holdings PLC
Steven Powell, Chief Executive Officer Noah Konig, Director of Product Marketing and Communications	Tel: [phone] [e-mail]
finnCap Ltd (NOMAD and Joint Broker)	Tel: [phone]
Geoff Nash / Simon Hicks	(Corporate Finance)
Alice Lane	(Corporate Broking)
Dowgate Capital Stockbrokers Limited (Joint Broker) David Poutney/ James Serjeant	Tel: [phone] (Corporate Broking)
IFC Advisory Limited (Financial PR and IR)	Tel: [phone]
Tim Metcalfe/ Graham Herring

 

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