Grant of share options

RNS Number : 5263J

Intelligent Ultrasound Group PLC

22 December 2020

 

Intelligent Ultrasound Group plc

("the Company")

Grant of Share Options

 Intelligent Ultrasound Group plc (AIM: IUG), the ultrasound artificial intelligence (AI) software and simulation company, announces the grant of 3,608,264 share options to the Directors and 4,523,245 share options to other management and employees (together the "options") on 21 December 2020 at a price of 15.25 pence per share, representing the closing mid-market price on the date of approval by the Remuneration committee.

Individual Director option grants

Director	New grant	Type
Stuart Gall	1,087,498	Non-EMI
Nicholas Sleep	1,033,711	Non-EMI
Ian Whittaker	728,289	Non-EMI
Ian Whittaker	96,500	EMI
Helen Jones	662,266	EMI
	3,608,264

Following the option grants above, the Directors hold the total number of share options as shown below:

Director	Number of options held
Stuart Gall	4,116,498
Nicholas Sleep	3,166,711
Ian Whittaker	2,024,789
Helen Jones	1,662,266
	10,970,264
% of share capital on fully diluted basis	3.7%

Vesting criteria

The options vest over a period of 36 months from date of grant as shown below and will remain exercisable at any point up until the tenth anniversary of the date of grant.

Number of shares in respect of which the Option shall vest

12/36 vest after 12 months

1/36 vest per month for 24 months

Management and employee options

A total of 4,523,245 options have been issued to other management and employees. Each award (regardless of whether it was granted as an EMI award or a non-EMI advantaged award) will ordinarily become exercisable on the third anniversary of grant, subject to the grantee's continued service with the Group and will remain exercisable at any point up until the tenth anniversary of the date of grant.

These option grants are under the Company's EMI scheme where the individual and the grant meets EMI criteria. Grants which do not qualify are under the same rules as the EMI scheme but will not benefit from EMI tax status.

The notification in Appendix 1 to this announcement, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

For further information, please contact:

Intelligent Ultrasound Group plc			www. intelligentultrasound.com
Stuart Gall, CEO  Helen Jones, CFO			Tel: [phone]
Cenkos Securities - Nominated Advisor and Broker				Tel:  [phone]
Giles Balleny / Cameron MacRitchie (Corporate Finance)
Michael Johnson / Julian Morse (Sales)
Walbrook PR	Tel: [phone] or [e-mail]
Anna Dunphy / Paul McManus		Mob: [phone] / Mob: [phone]

About Intelligent Ultrasound Group

Intelligent Ultrasound (AIM: IUG) develops artificial intelligence-based clinical image analysis software tools for the diagnostic medical ultrasound market and hi-fidelity virtual reality simulators for the ultrasound training market. Based in Cardiff in the UK and Atlanta in the US, the Group operates two divisions:

Clinical AI Division

Focusses on developing deep learning-based algorithms to make ultrasound machines smarter and more accessible. Products in the market include ScanNav Assist, which uses machine-learning based algorithms to automatically identify and grade ultrasound images. GE Healthcare's SonoLyst software on their Voluson SWIFT ultrasound machine incorporates the ScanNav Assist AI technology and has received 510(k) clearance from the FDA for sale in the USA. SonoLyst is the world's first fully integrated AI tool that recognises the 20 views recommended by the International Society of Ultrasound in Obstetrics and Gynaecology mid-trimester practice guidelines for fetal imaging.

Products in development include ScanNav Anatomy PNB, which aims to simplify ultrasound-guided needling by providing the user with real-time AI-based anatomy highlighting software for a range of medical procedures. ScanNav Anatomy has been submitted for CE and FDA regulatory approval.

Simulation Division 

Focusses on hi-fidelity ultrasound education and training through simulation.  Its three main products are the ScanTrainer OBGYN training simulator, the HeartWorks echocardiography training simulator and the BodyWorks Eve Point of Care and Emergency Medicine training simulator. To date almost 1,000 simulators have been sold to over 600 medical institutions around the world.

www.intelligentultrasound.com

Appendix 1

The Company makes the following disclosures in accordance with article 19(3) of the Market Abuse Regulation:

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stuart Gall
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Full name of the entity	Intelligent Ultrasound Group plc
b)	Legal entity identifier code	213800K4ZVWL4ZYQAZ70
4	Details of the transaction(s)
a)	Description of the financial instrument, type of instrument	Options over ordinary shares in Intelligent Ultrasound Group plc with a nominal value of 1 pence each
b)	Identification Code	ISIN: GB00BN791Q39
c)	Nature of the transaction	Grant of options over Ordinary Shares
d)	Currency	GBP - British pound
e)	Price(s) and Volume(s)	Price - 15,25 pence Volume - 1,087,498
f)	Aggregated information -  Price -  Volume -  Total	N/A
g)	Date of transaction	21 December 2020
h)	Place of transaction	Off market

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Nicholas Sleep
2	Reason for the notification
a)	Position/status	Chief Technical Officer
b)	Initial notification/amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Full name of the entity	Intelligent Ultrasound Group plc
b)	Legal entity identifier code	213800K4ZVWL4ZYQAZ70
4	Details of the transaction(s)
a)	Description of the financial instrument, type of instrument	Options over ordinary shares in Intelligent Ultrasound Group plc with a nominal value of 1 pence each
b)	Identification Code	ISIN: GB00BN791Q39
c)	Nature of the transaction	Grant of options over Ordinary Shares
d)	Currency	GBP - British pound
e)	Price(s) and Volume(s)	Price - 15.25 pence Volume - 1,033,711
f)	Aggregated information -  Price -  Volume -  Total	N/A
g)	Date of transaction	21 December 2020
h)	Place of transaction	Off market

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ian Whittaker
2	Reason for the notification
a)	Position/status	Chief Operating Officer
b)	Initial notification/amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Full name of the entity	Intelligent Ultrasound Group plc
b)	Legal entity identifier code	213800K4ZVWL4ZYQAZ70
4	Details of the transaction(s)
a)	Description of the financial instrument, type of instrument	Options over ordinary shares in Intelligent Ultrasound Group plc with a nominal value of 1 pence each
b)	Identification Code	ISIN: GB00BN791Q39
c)	Nature of the transaction	Grant of options over Ordinary Shares
d)	Currency	GBP - British pound
e)	Price(s) and Volume(s)	Price - 15.25 pence Volume - 824,789
f)	Aggregated information -  Price -  Volume -  Total	N/A
g)	Date of transaction	21 December 2020
h)	Place of transaction	Off market

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Helen Jones
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Full name of the entity	Intelligent Ultrasound Group plc
b)	Legal entity identifier code	213800K4ZVWL4ZYQAZ70
4	Details of the transaction(s)
a)	Description of the financial instrument, type of instrument	Options over ordinary shares in Intelligent Ultrasound Group plc with a nominal value of 1 pence each
b)	Identification Code	ISIN: GB00BN791Q39
c)	Nature of the transaction	Grant of options over Ordinary Shares
d)	Currency	GBP - British pound
e)	Price(s) and Volume(s)	Price - 15.25 pence Volume - 662,266
f)	Aggregated information -  Price -  Volume -  Total	N/A
g)	Date of transaction	21 December 2020
h)	Place of transaction	Off market

 

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