Grant of Options

RNS Number : 9873D

Cambridge Cognition Holdings PLC

02 November 2020

 

Cambridge Cognition Holdings Plc

(" Cambridge Cognition"   or the "Company")

Grant of Options

Cambridge Cognition Holdings plc (AIM: COG), which develops and markets digital solutions to assess brain health, announces that on 2 November 2020, the Company granted options ("Options") over a total of 246,774 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:

-  183,774 were granted to Persons Discharging Managerial Responsibilities ("PDMRs") on behalf of the Company;

Name	Role	Number of Options Granted	Total number of Options held following Grant	Total number of Ordinary Shares	Percentage of Current Issued Share Capital Held
Matthew Stork	Chief Executive Officer	103,774	693,061	125,000	0.40%
Fiona Cree	Chief Operating Officer	20,000	176,857	-	-
Richard Cooper	Chief Commercial Officer	60,000	171,786	-	-

-  63,000 were granted to other employees of the Company.

All the Options granted to PDMRs are exercisable at a price of 53 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:

o  50% of the Options granted will vest if the average closing mid-market price of an Ordinary Share for any three month period exceeds 90 pence, with the price on the last day of that period being at least 80 pence, and the last day of this period being no later than 31 October 2023; and

o  50% of the Options granted will vest if the average closing mid-market price of an Ordinary Share for any three month period exceeds 130 pence, with the price on the last day of that period being at least 115 pence, and the last day of this period being no later than 31 October 2023.

Of the options granted to other employees of the Company:

1.  60,000 are exercisable at a price of 53 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:

o  50% of the Options granted will vest if the average closing mid-market price of an Ordinary Share for any three month period exceeds 90 pence, with the price on the last day of that period being at least 80 pence, and the last day of this period being no later than 31 October 2023; and

o  50% of the Options granted will vest if the average closing mid-market price of an Ordinary Share for any three month period exceeds 130 pence, with the price on the last day of that period being at least 115 pence, and the last day of this period being no later than 31 October 2023.

2.  The remaining 3,000 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. All 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 2,476,636 representing approximately 7.95% 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	Matthew Stork - Chief Executive Officer Fiona Cree - Chief Operating Officer Richard Cooper - Chief Commercial Officer
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	213800SZKDIN122EPA96
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 2 November 2020
	Identification code	GB00B8DV9647
b)	Nature of the transaction	Grant of Options over Ordinary Shares
c)	Price(s) and volume(s)	Price: n/a Volumes: Matthew Stork - 103,774 Options Fiona Cree - 20,000 options Richard Cooper - 60,000 Options
d)	Aggregated information: · Aggregated volume · Price	n/a
e)	Date of the transaction	2 November 2020
f)	Place of the transaction	Outside a trading venue

The information communicated in this announcement is inside information for the purposes of Article 7 of EU Regulation 596/2014

Enquiries

Cambridge Cognition Holdings PLC
Matthew Stork, Chief Executive Officer Nick Walters, Chief Financial Officer	Tel: [phone] [e-mail]
finnCap Ltd (NOMAD and Joint Broker)	Tel: [phone]
Geoff Nash / Simon Hicks	(Corporate Finance)
Alice Lane/ Manasa Patil	(Corporate Broking)
Dowgate Capital Limited (Joint Broker) David Poutney/ James Serjeant	Tel: [phone] (Corporate Broking)
IFC Advisory Limited (Financial PR and IR)	Tel: [phone]
Tim Metcalfe/ Graham Herring/ Zach Cohen

 

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