Award of Options

RNS Number : 8124L

Microsaic Systems plc

14 January 2016

 

Microsaic Systems plc

("Microsaic", "Microsaic Systems" or the "Company")

Grant of Share Options

14 January 2016

Microsaic Systems plc (AIM: MSYS), the developer of miniaturised chip-based scientific instruments, announces that share options were granted on 13 January 2016 over 995,000 ordinary shares of 0.25 pence, representing approximately 1.4% of the share capital of the Company.

The allocation to Directors is as follows:

Director	Position	Options Granted	Total Options Held
Jim Ramage	Chief Executive Officer	500,000	500,000
Glenn Tracey	Chief Operating Officer	200,000	300,000
Bevan Metcalf	Finance Director	120,000	120,000

These share options were granted under the Microsaic Systems Enterprise Management Incentive Scheme with an exercise price of 23.5 pence per ordinary share, being the closing mid-market price of the Company's shares on 12 January 2016. The options granted to Mr Ramage will vest on 1 January 2017. The options granted to Mr Tracey and Mr Metcalf will vest on the third anniversary of the date of grant.

A total of 175,000 share options were granted to other employees and a consultant of the Company. 100,000 of these share options were granted under the Microsaic Systems Enterprise Management Incentive Scheme with an exercise price of 23.5 pence per ordinary share, being the closing mid-market price of the Company's shares on 12 January 2016. These options vest on the third anniversary of the date of grant. The remaining 75,000 share options were issued to a consultant of the Company under the Microsaic Systems Unapproved Share Option Scheme with an exercise price of 23.5 pence per ordinary share, being the closing mid-market price for the Company's shares on 12 January 2016 and vest on 1 January 2017.

The options granted are not subject to performance criteria.

Contacts

Microsaic Systems Colin Nicholl, Chairman Jim Ramage, CEO	Via Citigate Dewe Rogerson
Numis Securities Limited Stuart Skinner (Nominated Adviser) James Serjeant (Broker)	[phone]
Citigate Dewe Rogerson Mark Swallow, Marine Perrier	[phone]/1068

About Microsaic Systems

Microsaic Systems plc is a high technology company developing and marketing next generation mass spectrometry (MS) instruments for the analysis of gaseous, liquid and solid samples. Microsaic has successfully miniaturised mass spectrometry into a desktop instrument by integrating the key MS components onto patented chip technologies (called ionchip®, spraychip® and vac-chip™). Microsaic's MS products retain the functionality of larger, conventional MS systems but are substantially smaller, lighter, consume less energy and have lower running costs. The Microsaic 4000 MiD® is the world's smallest MS system.

Mass spectrometry is a 'gold-standard' analytical technique used across many industry sectors, including pharmaceutical, diagnostics and healthcare, government, energy, utilities, environmental, food and drink, security and defence, and industrial chemicals - a combined market estimated to grow to $2.5 billion by 2017. Microsaic aims to introduce compact, deployable MS products, based on its core technology, into a series of these target markets.

Microsaic Systems was established in 2001 by a team including founders from Imperial College London, and was admitted to AIM in April 2011 under the symbol MSYS.

www.microsaic.com

 

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