LTIP Awards and Issue of Equity

RNS Number : 3952D

Creo Medical Group PLC

19 February 2020

 

Creo Medical Group plc

("Creo" the "Company" or the "Group")

LTIP Awards and Issue of Equity

Creo Medical Group plc (AIM: CREO), the medical device company focused on the emerging field of surgical endoscopy, announces that it is giving effect to the disclosure made in the Circular dated 4 December 2019, and has as of 18 February 2020, granted the following Directors ("Participants") an interest over 370,000 ordinary shares ("LTIP Shares") of 0.1 pence each in the capital of the Company ("Ordinary Shares"), representing approximately 0.2% of the enlarged issued share capital of the Company, pursuant to the Company's newly established Long Term Incentive Plan ("LTIP").

Director	Position	LTIP Shares
Craig Gulliford	Chief Executive Officer	140,000
Chris Hancock	Chief Technology Officer	115,000
Richard Rees	Chief Finance Officer	115,000

The Company has made an application for 7,000,000 new Ordinary Shares to be admitted to trading on AIM. These new Ordinary Shares will be held by the Company's Employee Benefit Trust ("EBT") and will be used to satisfy exercises of shares currently under option, as well as for future LTIP awards. The voting rights on these new Ordinary Shares will be exercisable by the trustee of the EBT ("Trustee") at its sole discretion.

The Participant and the Trustee jointly own the beneficial interest of the LTIP Shares. The Participant is entitled to any value above the Hurdle Price of £2.50 per share and the Trustee entitled to all value below the Hurdle Price. The Participant has also been granted an option to acquire the Trustee's beneficial interest in the LTIP shares, which vests three years after the acquisition date (subject to remaining in eligible employment) and the exercise of which is subject to a three-month holding period once vested.

Application will be made for 7,000,000 new Ordinary Shares to be admitted to trading on AIM. It is expected that admission will take place on 21 February 2020. Following the allotment and issue, the Company's issued share capital consists of 157,484,021 Ordinary Shares. The Company does not hold any shares in Treasury, as such the total number of shares in issue with voting rights is 157,484,021.

The above figure of 157,484,021 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.

Enquiries:

Creo Medical Group plc	investors.creomedical.com
Richard Rees (CFO)	[phone]
Cenkos Securities plc	[phone]
Stephen Keys / Cameron MacRitchie (NOMAD)
Michael Johnson / Russell Kerr (Sales)
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus / Lianne Cawthorne	Mob: [phone]

The following notifications are intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 (the Market Abuse Regulation).

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	1.  Craig Gulliford 2.  Chris Hancock 3.  Richard Rees
2	Reason for the notification
a)	Position/status	1.  Chief Executive Officer 2.  Chief Technology Officer 3.  Chief Finance Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Creo Medical Group plc
b)	LEI	213800H188ZDCWWXFA21
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	Ordinary shares of £0.001 each
	Identification code	GB00BZ1BLL44
b)	Nature of the transaction	Allocation of Ordinary Shares under the Creo Medical Group plc LTIP 2020
c)	Price(s) and volume(s)
			Price(s) pence	Volume(s)
			1.  nil 2.  nil 3.  nil	1.  140,000 2.  115,000 3.  115,000
d)	Aggregated information
	- Aggregated volume	N/A - single transaction
	- Price
e)	Date of the transaction	18 February 2020
f)	Place of the transaction	Outside a trading venue

 

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