2016 LTIP adopted & Grant of Options

RNS Number : 1354L

Venture Life Group PLC

29 September 2016

 

Venture Life Group plc

("Venture Life" or the "Company")

Venture Life Group plc 2016 Long Term Incentive Plan and Grant of Options to PDMRs

Venture Life (AIM: VLG), the international consumer self-care group focused on developing, manufacturing and commercialising products for the ageing population, announces that it has adopted a new Long Term Incentive Plan, the Venture Life Group plc 2016 Long Term Incentive Plan ("LTIP").  Initial grants of nominal-cost share options ("Options") over ordinary shares of 0.3p each in Venture Life Group plc ("Shares") pursuant to the LTIP were made on 28 September 2016.

Grant of Options

On 28 September 2016 (the "Date of Grant"), Venture Life granted Options over a total of 1,641,247 Shares to its four Executive Directors, all of whom are regarded as Persons Discharging Managerial Responsibilities ("PDMRs") for the Company.

Vesting of the Options is subject to continued employment and the Group meeting objective performance conditions, namely the Company's Earnings Per Share ("EPS") performance and relative Total Shareholder Return (share price performance plus dividends added back - "TSR"). Half of the Shares under an Option are subject to EPS performance conditions, and half of the Shares under an Option are subject to TSR performance conditions.

The first tranche of Options granted over a total of 611,598 Shares ("Grant 1") will ordinarily vest on 25 March 2018, subject to meeting the performance conditions set for the Company's EPS over the three financial years ending 31 December 2017 and TSR for the three years commencing 26 March 2015.

The second tranche of Options granted over a total of 1,029,649 Shares ("Grant 2") will ordinarily vest on the third anniversary of the Date of Grant, subject to meeting the performance conditions set for the Company's EPS over the three financial years ending 31 December 2018 and TSR for the three years commencing on the Date of Grant.  

The Options are exercisable at a price of 0.3p per Share.

Director	Position	No. of Shares under Option - Grant 1	No. of Shares under Option - Grant 2		Combined no. of Shares under Options	Total number of Shares under options held
Jerry Randall	Chief Executive Officer	203,390		340,183	543,573	1,894,793
Gianluca Braguti	Manufacturing Director	153,971		264,237	418,208	418,208
Sharon Collins	Commercial Director	135,593		226,789	362,382	1,713,602
James Hunter	Chief Financial Officer	118,644		198,440	317,084	917,084
		611,598		1,029,649	1,641,247	4,943,687

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Names	Jerry Randall - Chief Executive Officer Gianluca Braguti - Manufacturing Director Sharon Collins - Commercial Director James Hunter - Chief Financial Officer
2	Reason for the notification
a)	Position/status	See 1(a) above for positions - all classified as PDMRs of Venture Life
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Venture Life Group plc
b)	LEI
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	Ordinary Shares of 0.3p each in Venture Life Group plc
b)	Identification code	GB00BFPM8908
c)	Nature of the transaction	Grant of Options over Ordinary Shares pursuant to the Venture Life Group plc 2016 Long Term Incentive Plan
d)	Price and volumes	Price - nil Volumes: Jerry Randall - 543,573 Ordinary Shares Gianluca Braguti - 418,208 Ordinary Shares Sharon Collins -  362,382 Ordinary Shares James Hunter - 317,084 Ordinary Shares
d)	Aggregated information  - Aggregated volume - Price	N/a
e)	Date of the transaction	28 September 2016
f)	Place of the transaction	Outside a trading venue

Name of authorised official of issuer responsible for making notification.

James Hunter

Company Secretary to Venture Life Group plc

For further information please contact:

Venture Life Group PLC		[phone]
Jerry Randall, Chief Executive Officer
James Hunter, Chief Financial Officer
Panmure Gordon (UK) Limited (Nominated Adviser and Joint Broker)		[phone]
Freddy Crossley/Peter Steel/Duncan Monteith (Corporate Finance)
Tom Salvesen (Corporate Broking)
Turner Pope Investments (TPI) Ltd (Joint Broker)		[phone]
James Pope/Ben Turner
Walbrook PR	[e-mail] or [phone]
Paul McManus/Anna Dunphy	[phone] / [phone]

 

END

 

 

DSHLLFFRAIITFIR