Grant of Options under Long Term Incentive Plan

RNS Number : 9019R

Allergy Therapeutics PLC

11 March 2016

 

11 March 2015

Allergy Therapeutics plc

("Allergy Therapeutics" or the "Company")

Grant of Options under Long Term Incentive Plan

Allergy Therapeutics, the fully integrated specialty pharmaceutical company specialising in allergy vaccines, today confirms that certain performance conditions attaching to provisional awards ("Awards") made pursuant to the Company's Long Term Incentive Plan ("LTIP") for the three years ended  8 March 2015, details of which were announced on 15 May 2013, have been met. Consequently, Allergy Therapeutics has today granted certain of its directors low cost options ("Options") over the Company's ordinary shares of 0.1 pence each ("Ordinary Shares") in replacement for the Awards made under the LTIP as follows:

Director	Number of Ordinary Shares over which Options granted	Total number of Ordinary Shares over which Options granted	Total remaining number of Ordinary Shares provisionally  awarded under LTIPs
Manuel Llobet, Chief Executive Officer	905,000	1,529,024	1,690,000
Ian Postlethwaite, Finance Director	452,500	928,012	845,000

The Options have been granted in accordance with the LTIP rules and can be exercisable between 11 March 2016 and 11 March 2026 at an exercise price of 0.1p per Ordinary Share.

For further information please contact:

Allergy Therapeutics

[phone]

Manuel Llobet, Chief Executive Officer

Ian Postlethwaite, Finance Director

Panmure Gordon

[phone]

Freddy Crossley / Duncan Monteith, Corporate Finance

Tom Salvesen, Corporate Broking

Consilium Strategic Communications

[phone]

Mary-Jane Elliott / Ivar Milligan / Matthew Neal / Laura Thornton

[e-mail]

Note to editors:

About Allergy Therapeutics

Allergy Therapeutics is an international specialty pharmaceutical company focussed on the treatment and diagnosis of allergic disorders including immunotherapy vaccines that cure disease.  The Company sells proprietary products and third party products from its subsidiaries in nine major European countries and via distribution agreements in an additional ten countries.

Formed in 1999 out of Smith Kline Beecham, Allergy Therapeutics is headquartered in Worthing, UK with MHRA-approved manufacturing facilities.  The Company employs c.420 employees and is listed on the London Stock Exchange (AIM:AGY). For more information please see www.allergytherapeutics.com.

 

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