Grant of Options

Genedrive PLC

20 December 2024

 

genedrive plc

("genedrive" or the "Company")

Notification and public disclosure of transactions by persons discharging

managerial responsibilities and persons closely associated with them

genedrive plc (AIM: GDR), the point of care pharmacogenetic testing company, announces that it has granted share options ("Options") to members of its senior management team to acquire a total of 8,900,000 new 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 equal to the close price on 19 December 2024, being 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 2026. The Options are exercisable over the period of 10 years from the date of grant.

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	Gino Miele  Chief Executive Officer Russell Shaw  Chief Financial Officer Patrick Breen  Chief Commercial Officer Jonathan Barber  Operations Director Shaun Ainsworth  Assay Development Director Grzegorz Zysko  Engineering Director Caroline Alexander  Director QA/RA
2.	Reason for the notification
a.	Position/status	See box 1a. above
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) Gino Miele 2.1p 3,500,000 Russell Shaw 2.1p 3,500,000 Patrick Breen 2.1p 600,000 Jonathan Barber  2.1p 400,000 Shaun Ainsworth 2.1p 400,000 Grzegorz Zysko 2.1p 400,000 Caroline Alexander 2.1p 100,000
d.	Aggregated information Aggregated volume Price	N/A
e.	Date of the transaction	2024-12-20
f.	Place of the transaction	Outside a trading venue - shares to be admitted to AIM market of London Stock Exchange plc on exercise of options

For further details please contact:

genedrive plc	[phone]
Gino Miele: CEO / Russ Shaw: CFO
Peel Hunt LLP (Nominated Adviser and Broker)	[phone]
James Steel / Patrick Birkholm
Walbrook PR Ltd (Media & Investor Relations)	[phone] or [e-mail]
Anna Dunphy	[phone]

About genedrive plc (http://www.genedriveplc.com)

genedrive plc is a pharmacogenetic testing company developing and commercialising a low cost, rapid, versatile and simple to use point of need pharmacogenetic platform for the diagnosis of genetic variants. This helps clinicians to quickly access key genetic information that will aid them make the right choices over the right medicine or dosage to use for an effective treatment, particularly important in time-critical emergency care healthcare paradigms. Based in the UK, the Company is at the forefront of Point of Care pharmacogenetic testing in emergency healthcare. Pharmacogenetics informs on how your individual genetics impact a medicines ability to work for you. Therefore, by using pharmacogenetics, medicine choices can be personalised, made safer and more effective. The Company has launched its two flagship products, the Genedrive® MT-RNR1 ID Kit and the Genedrive® CYP2C19 ID Kit, both developed and validated in collaboration with NHS partners and deployed on its point of care thermocycler platform. Both tests are single-use disposable cartridges which are ambient temperature stable, circumventing the requirement for cold chain logistics. The Directors believe the Genedrive® MT-RNR1 ID Kit is a worlds-first and allows clinicians to make a decision on antibiotic use in neonatal intensive care units within 26 minutes, ensuring vital care is delivered, avoiding adverse effects potentially otherwise encountered and with no negative impact on the patient care pathway. Its CYP2C19 ID Kit which has no comparably positioned competitor currently allows clinicians to make a decision on the use of Clopidogrel in stroke patients in 70 minutes, ensuring that patients who are unlikely to benefit from or suffer adverse effects from Clopidogrel receive an alternative antiplatelet therapeutic in a timely manner, ultimately improving outcomes. Both tests have undergone review by the National Institute for Health and Care Clinical Excellence ("NICE") and have been recommended for use in the UK NHS. 

The Company has a clear commercial strategy focused on accelerating growth through maximising in-market sales, geographic and portfolio expansion and strategic M&A, and operates out of its facilities in Manchester.

 

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