Allergy Therapeutics: Granting of Awards

RNS Number : 5901T

Allergy Therapeutics PLC

25 November 2021

 

Allergy Therapeutics plc

("Allergy Therapeutics" or the "Group")

Vesting and Granting of Awards under Long Term Incentive Plan

Allergy Therapeutics (AIM: AGY), the fully integrated pharmaceutical company specialising in allergy vaccines, announces that :

Vesting of Award

Performance conditions attaching to provisional awards ("Awards") made pursuant to the Company's Long Term Incentive Plan ("LTIP") for the three years ended 1 November 2021, details of which were announced on 1 November 2018, have been met in part.

Consequently, on 22 November 2021, Allergy Therapeutics granted certain of its director's options ("Options") over the Company's Ordinary Shares of 0.1 pence in replacement for the Awards made under the LTIP as follows:

Director	Percentage of Award Vested	Total number of Ordinary Shares over which Options granted	Exercise Price
M anuel Llobet	89.3%	803,700	0.1 pence
Nick Wykeman	89.3%	401,850	0.1 pence

In accordance with the rules of the LTIP, 50% of these Options are exercisable immediately and the remaining 50% are subject to a holding period of three years. The exercise period is ten years from date of grant.  

Granting of Award

Pursuant to the Company's Long Term Incentive Plan ("LTIP") t he following conditional awards of Ordinary Shares of 0.1 pence each were made to Executive Directors at a nominal cost of 0.1 pence each on 22 November 2021 ("New Awards").

Executive Director	Number of Conditional shares awarded (New Awards)
Manuel Llobet	900,000
Nick Wykeman	450,000

The New Awards have been granted in accordance with the LTIP rules and vesting is conditional on the satisfaction of performance conditions in respect of earnings growth and share price growth over three years. 

Following the above share transactions, the Executive Directors hold the following:

Director	Unvested LTIP Awards	Options	Interest in Ordinary Shares
Manuel Llobet	2,700,000	1,676,200	3,325,000
Nick Wykeman	1,350,000	838,100	300,000

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)	Name	Manuel Llobet
2	Reason for the notification
a)	Position/status	Chief Executive Office and PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ALLERGY THERAPEUTICS PLC
b)	LEI	LEIR97215202003301009534776
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	Conditional award of shares and grant of share options under the Company's Long Term Incentive Plan
b)	Identification code	GB00B02LCQ05
c)	Nature of the transaction	Grant of conditional Awards
d)	Price(s) and volume(s)	Awards   Price(s) Volume(s) Options New Awards 0.1  pence 0.1 pence 803,700 900,000
e)	Aggregated information	1,703,700 0.1  pence
f)	Date of the transaction	22 November 2021
g)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Nick Wykeman
2	Reason for the notification
a)	Position/status	Chief Financial Officer and PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ALLERGY THERAPEUTICS PLC
b)	LEI	LEIR97215202003301009534776
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	Conditional award of shares and grant of share options under the Company's Long Term Incentive Plan
b)	Identification code	GB00B02LCQ05
c)	Nature of the transaction	Grant of conditional awards
d)	Price(s) and volume(s)	Awards   Price(s)  Volume(s) Options New Awards 0.1  pence 0.1 pence 401,850 450,000
e)	Aggregated information	851,850 0.1 pence
f)	Date of the transaction	22 November 2021
g)	Place of the transaction	Outside a trading venue

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").

For further information, please contact:

Allergy Therapeutics

[phone]

Manuel Llobet, Chief Executive Officer

Nick Wykeman, Chief Financial Officer

Panmure Gordon

[phone]

Freddy Crossley, Emma Earl, Corporate Finance

Rupert Dearden, Corporate Broking

Consilium Strategic Communications

[phone]

Mary-Jane Elliott / David Daley / Davide Salvi

[e-mail]

Stern Investor Relations, Inc.

[phone]

Christina Tartaglia

[e-mail]

Notes for editors:

About Allergy Therapeutics

Allergy Therapeutics is an international specialty pharmaceutical group focussed on the treatment and diagnosis of allergic disorders, including immunotherapy vaccines, that have the potential to cure disease. The Group sells proprietary and third party products from its subsidiaries in nine major European countries and via distribution agreements in an additional ten countries. Its broad pipeline of products in clinical development include vaccines for grass, tree and house dust mite, and peanut allergy vaccine in pre-clinical development. Adjuvant systems to boost performance of vaccines outside allergy are also in development.

Formed in 1999 out of Smith Kline Beecham, Allergy Therapeutics is headquartered in Worthing, UK with more than 11,000m² of state-of-the-art MHRA-approved manufacturing facilities and laboratories.  The Group, which has achieved double digit compound annual growth since formation, employs c.600 employees and is listed on the London Stock Exchange (AIM:AGY). For more information, please see www.allergytherapeutics.com .

 

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