Director/PDMR Shareholding

RNS Number : 2148H

Genedrive PLC

04 April 2022

 

Notification and public disclosure of transactions by persons discharging

managerial responsibilities and persons closely associated with them

genedrive plc (LSE: GDR) ("genedrive" or the "Company"), the near patient molecular diagnostics company, announces the following transaction by PDMRs.

The Company has granted share options ("Options") to Russell Shaw, CFO Designate and a PDMR, to acquire a total of 100,000 ordinary shares of 1.5p each ("Ordinary Shares") in the Company under the Company's Share Option Scheme.

The Options have been granted with an exercise price of 30p per share equating to the closing price on the day before the grant and vest after a period of three years, subject to certain performance criteria being met through achieving revenue targets, achieving cash targets and completing certain strategic projects in the year ending June 2024. The Options are exercisable over the period of 10 years from the date of grant.

In addition, Matthew Fowler, outgoing CFO and a PDMR, has today exercised 264,046 Options over Ordinary Shares at a price of 30.5p and following this exercise he subsequently sold 264,046 Ordinary Shares at a price of 36.5p per share. Following the above transaction Matthew Fowler has an interest in 52,500 Ordinary Shares.

Application has been made for 264,046 Ordinary Shares to be admitted to trading on AIM ("Admission").  Admission is expect to occur on 8 April 2022 and the Ordinary Shares will, on issue, rank pari passu in all respects with the Company's existing Ordinary Shares.

On Admission, the Company will have a total of 92,534,946 Ordinary Share in issue.  No Ordinary Shares are held in treasury.  The figure of 92,534,946 may be used by the Company's shareholders as the denominator in 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 information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	1.   Russell Shaw
2.	Reason for the notification
a.	Position/status	1.  CFO Designate
a.	Initial notification /Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	genedrive plc
b.	LEI	213800ZYODIRZ87Y4K14
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	Options over ordinary shares of 1.5 pence each GB00B1VKB244
b.	Nature of the transaction	Grant of options pursuant to and in accordance with the terms of the Company's Share Option Scheme dated 29 November 2017
c.	Price(s) and volume(s)	Option price(s) Volume(s) 30p 100,000
d.	Aggregated information Aggregated volume Price	N/A
e.	Date of the transaction	2022-04-04
f.	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	1.   Matthew Fowler
2.	Reason for the notification
a.	Position/status	1.  Outgoing CFO
a.	Initial notification /Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	genedrive plc
b.	LEI	213800ZYODIRZ87Y4K14
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	Exercise of Options over ordinary shares of 1.5 pence each and sale of ordinary shares of 1.5p each GB00B1VKB244
b.	Nature of the transaction	Exercise of options pursuant to and in accordance with the terms of the Company's Share Option Scheme dated 29 November 2017 and subsequent sale of ordinary shares
c.	Price(s) and volume(s)	Option exercise price No. of options exercised 30.5p 264,046 Sale price No. of ordinary shares sold 36.5p 264,046
d.	Aggregated information Aggregated volume Price	Gross proceeds realised of £96,376.79
e.	Date of the transaction	2022-04-04
f.	Place of the transaction	Outside a trading venue and Aim for the disposal

For further details please contact:

genedrive plc		[phone]
David Budd: CEO / Matthew Fowler: CFO
Peel Hunt LLP (Nominated Adviser and Joint Broker)		[phone]
James Steel
finnCap (Joint Broker)		[phone]
Geoff Nash / Kate Bannatyne / Alice Lane
Walbrook PR Ltd (Media Relations & Investor Relations)	[phone] or [e-mail]
Paul McManus / Anna Dunphy		[phone] / [phone]

 

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