Vesting of Awards under Long Term Incentive Plan

RNS Number : 0997U

Allergy Therapeutics PLC

31 March 2021

 

Allergy Therapeutics plc

("Allergy Therapeutics" or the "Group")

Vesting of Awards under Long Term Incentive Plan,

Increase to Block Listing

and

 Total Voting Rights

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 15 March 2021, details of which were announced on 16 March 2018, have been met in part.

Consequently, on 30 March 2021, Allergy Therapeutics granted certain of its director's options ("Options") over the Company's Ordinary Shares 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	50%	450,000	0.1 pence
Nicolas Wykeman	50%	225,000	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.  

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	872,500	3,325,000
Nicolas Wykeman	1,350,000	436,250	300,000

Increase to Block Listing

Allergy Therapeutics announces that application has been made for admission to trading on AIM in respect of an additional block listing of 7,000,000 Ordinary Shares to become effective on 7 April 2021.

The Ordinary Shares may be issued pursuant to the exercise of share options under the Company's LTIP and will, upon issue, rank pari passu in all respects with the Company's existing Ordinary Shares. Following this increase, the total Block Listing will consist of 10,177,235 Ordinary Shares.

Total Voting Rights

Allergy Therapeutics also announces that pursuant to its block admission facility, details of which were announced on 20 November 2017, it has recently issued 148,369 Ordinary Shares in satisfaction of the exercise of share options. The new Ordinary Shares rank pari passu with the Company's existing shares.

In accordance with DTR 5.6.1 of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, as at 30 March 2021, the Company has 640,940,533 Ordinary Shares in issue. There are no shares held in treasury. The total number of voting rights in the Company is therefore 640,940,533.

The above figure of 640,940,533 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

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 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 0.1 pence 450,000
e)	Aggregated information	n/a
f)	Date of the transaction	30 March 2021
g)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Nicolas Wykeman
2	Reason for the notification
a)	Position/status	Nicolas 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 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 0.1 pence 225,000
e)	Aggregated information	n/a
f)	Date of the transaction	30 March 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 / Ashley Tapp / 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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