Grant of Awards under Long Term Incentive Plan

RNS Number : 0593G

Allergy Therapeutics PLC

20 November 2020

 

Allergy Therapeutics plc

("Allergy Therapeutics" or the "Group")

Grant of Awards under Long Term Incentive Plan

Allergy Therapeutics (AIM:AGY), the fully integrated pharmaceutical company specialising in allergy vaccines, announces that, o n 20 November 2020, pursuant to the Company's Long Term Incentive Plan ("LTIP") t he following conditional awards of shares of 0.1 pence each were made to Executive Directors at a nominal cost of 0.1 pence each (the "Awards").

Executive Director	Number of Conditional shares awarded
Manuel Llobet	900,000
Nick Wykeman	450,000

The Awards have been granted in accordance with the LTIP rules and vesting is conditional on the satisfaction of two performance measures over a three-year period:

Measure:	Target Range:
Compounded annual earnings growth rate (EBITDA) pre R&D spend	7.5% - 17.5%
Compounded annual share price growth	15% - 40%

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

Director	Unvested LTIP Awards	Low cost Share Options	Interest in Ordinary Shares
Manuel Llobet	3,600,000	211,250	3,325,000
Nicolas Wykeman	1,800,000	211,250	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	Manuel Llobet - 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 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)	Award Price(s) Volume(s) Conditional Shares £0.001 900,000
e)	Aggregated information	n/a
f)	Date of the transaction	19 November 2020
g)	Place of the transaction	Outside a trading venue

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	Nick Wykeman
2	Reason for the notification
a)	Position/status	Nick Wykeman - 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 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)	Award Price(s) Volume(s) Conditional Shares £0.001 450,000
e)	Aggregated information	n/a
f)	Date of the transaction	19 November 2020
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

Erik Anderson, Corporate Broking

Consilium Strategic Communications

[phone]

Mary-Jane Elliott / David Daley / Nicholas Brown / Olivia Manser

[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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