Grant of share options to the CEO

RNS Number : 2359J

Shield Therapeutics PLC

18 December 2020

 

Shield Therapeutics plc

("Shield" or the "Group" or the "Company")

Grant of share options to the Chief Executive Officer

London, UK, 18 December 2020:  Shield Therapeutics plc (LSE: STX), a commercial stage, pharmaceutical company with a focus on addressing iron deficiency with its lead product Feraccru®/Accrufer® (ferric maltol), announces that on 18 December 2020 it granted share awards in the form of options over ordinary shares in the capital of the Company ("Ordinary Shares") under Shield Therapeutics Retention and Performance Share Plan ("RPSP"). 

In accordance with the requirements of the EU Market Abuse Regulations the following options have been granted to PDMRs:

Name	Option Plan	Number of Ordinary Shares under Option	Vesting Date
Tim Watts PDMR and CEO	RPSP	625,000	Dependent on performance conditions outlined below vesting can occur up until 31 December 2021.

These awards are subject to the following performance conditions:

1)  60% of the options granted (375,000) will vest if the Company's market capitalisation is at or above £175m for five (5) consecutive trading days at any time during 2021.  The Company's current market capitalisation is c. £66.9m

2)  The remaining 40% of the options granted (250,000) will vest if the Company's market value is at or above £300m for five (5) consecutive trading days at any time during 2021

Mr Watts currently holds 648,700 ordinary shares in the Company, representing 0.55% of the Company's issued share capital.

1.	Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)	Name	Tim Watts
2.	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/ amendment	Initial Notification
3.	Details of the Issuer
a)	Name	Shield Therapeutics plc
b)	LEI code	213800G74QWY15FC3W71
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 Identification code	Options over Ordinary Shares ISIN: GB00BYV81293
b)	Nature of the transaction	Grant of awards over Ordinary Shares under the Company's Retention and Performance Share Plan.
c)	Price(s) and volumes(s)	2020 RPSP Award Price (£) Volume 0.015 625,000
d)	Aggregated information -  Aggregate volume -  Price	Awards granted over 625,000 shares in total 1.5p exercise price
e)	Date of the transaction	18 December 2020
f)	Place of the transaction	Outside of trading venue

For further information please contact:

Shield Therapeutics plc	www.shieldtherapeutics.com
Tim Watts, CEO	[phone]
Lucy Huntington-Bailey, Company Secretary and General Counsel	[phone]
Nominated Adviser and Joint Broker
Peel Hunt LLP
James Steel/Dr Christopher Golden	[phone]
Joint Broker finnCap Ltd  Geoff Nash/Matt Radley/Alice Lane	[phone]
Financial PR & IR Advisor
Walbrook PR	[phone] or  [e-mail]
Paul McManus/Lianne Cawthorne	[phone] / [phone]

About Shield Therapeutics plc

Shield is a de-risked, specialty pharmaceutical company focused on commercialising its lead product, Feraccru®/Accrufer®, a novel, stable, non-salt based oral therapy for adults with iron deficiency with or without anaemia. Feraccru®/Accrufer® has been approved for use in the United States, European Union, UK and Switzerland and has exclusive IP rights until the mid-2030s. Feraccru is commercialised in the UK and Europe by Norgine B.V. and the Company is currently in the process of selecting a commercialisation partner for the US market.  Shield also has an exclusive licence agreement with Beijing Aosaikang Pharmaceutical Co., Ltd., for the development and commercialisation of Feraccru®/Accrufer® in China, Hong Kong, Macau and Taiwan. 

For more information, please visit www.shieldtherapeutics.com . Follow Shield on Twitter @ShieldTx

 

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