Grant of Stock Options

RNS Number : 8182Q

Venn Life Sciences Holdings PLC

14 September 2017

 

Venn Life Sciences Holdings Plc

("Venn" or the "Company" or the "Group")

Grant of Stock Options to Directors and Management

Venn Life Sciences (AIM: VENN), a growing Contract Research Organisation providing drug development, clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device clients, announces that it has granted stock options to directors and senior management of the Company.

The stock options were granted on the 14 September 2017 over a total of 4,310,000 common shares representing 7.1% of the issued share capital of the Company at an exercise price of 13 pence representing the closing price on 13 September. The options vest in three equal instalments when the Company's share price trades at 25p, 35p and 45p for twenty consecutive days.

Of the 4,310,000 stock options 4,060,000 were issued to directors and 250,000 were issued to senior management. Following this award of options, the total number of shares under option to directors and management is 8,020,000 representing 13.3% of the Company's issued share capital. Existing share options of 3,710,000 are amended so as to be exercisable at the same price and with the same vesting criteria as the new options.

The allocation of stock options to Persons Discharging Managerial Responsibilities was as follows:

Director	Position	New Options Issued	Total Options Held	Current Shareholding in Venn Life Sciences	Current shareholding as a percentage of current issued share capital
Tony Richardson	Chief Executive Officer	2,340,000	3,250,000	621,667	1.03%
Christina Mila	Chief Operating Officer	770,000	770,000	Nil	-
Allan Wood	Chairman	550,000	550,000	230,000	0.38%
Mike Ryan	Non-Executive Director	200,000	200,000	273,258	0.45%
Mary Sheahan	Non-Executive Director	200,000	200,000	Nil `	-

Enquiries:

Venn Life Sciences Holdings Plc		www.vennlifesciences.com
Allan Wood, Non-Executive Chairman		Tel: [phone]
Tony Richardson, Chief Executive Officer		Tel: [phone]
Davy (Nominated Adviser, ESM Adviser and Joint Broker)
Fergal Meegan / Matthew de Vere White (Corporate Finance)			Tel: [phone]
Hybridan LLP (Co-Broker)
Claire Louise Noyce		Tel: [phone]
Walbrook PR Ltd	Tel: [phone]                        or [e-mail]
Paul McManus		Mob: [phone]
Lianne Cawthorne		Mob: [phone]

About Venn Life Sciences:

Venn Life Sciences is a European Contract Research Organisation providing drug development, clinical trial management and resourcing solutions to pharmaceutical, biotechnology, academic and medical device organisations. With dedicated operations in France, Germany, the Netherlands, the UK, Ireland and Europe wide representation - Venn specialises in tailored end to end drug development consultancy and clinical trial management services.

 

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