Share Options and LTIPs Granted

RNS Number : 2367X

Oxford Biomedica PLC

08 August 2018

 

Deferred Bonus Plan and Long Term Incentive Plan Option Grants

London, UK - 08 August 2018: Oxford BioMedica plc ("Oxford BioMedica" or the "Company") (LSE:OXB), a leading gene and cell therapy Group announces that on 07 August 2018 nil-cost share options over shares of 50 pence each in the Company were granted to the Senior Executive Team under the Oxford BioMedica 2015 Deferred Bonus Plan ("DBP") and the Oxford BioMedica 2015 Long Term Incentive Plan ("LTIP").

The grant of the share options comprises four types of award, which are: (i) the grant of the Chief Executive Officer's ("CEO") 2018 LTIP award; (ii) the grant of the 2018 LTIP awards to the remainder of the Senior Executive Team; (iii) the grant of the 2018 DBP awards; and (iv) the grant of an award to rectify an error in the 2017 LTIP award granted to the Chief Financial Officer ("CFO") on 25 September 2017.  

Name of individual	Title	Number of shares subject to the 2018 DBP award	Number of shares subject to the 2018 LTIP  award	Number of shares subject to the 2017 rectification award	Total shares over which options are held (notes 1,2)	Percentage of issued share capital under option
John Dawson	Chief Executive Officer	20,586	52,555	-	593,765	0.9%
Stuart Paynter	Chief Financial Officer	4,354	23,647	7,235	93,116	0.1%
James Miskin	Chief Technical Officer	5,156	21,022	-	163,272	0.2%
Kyriacos Mitrophanous	Chief Scientific Officer	5,156	21,022	-	164,332	0.2%
Lisa Giles	Chief Project & Development Officer	-	17,149	-	17,149	0.03%
Nick Page	Chief Operations Officer	-	22,682	-	22,682	0.03%
Helen Stephenson-Ellis	Chief People Officer	-	13,941	-	13,941	0.02%
Jason Slingsby	Chief Business Officer	-	24,894	-	68,929	0.1%

Notes:

1.          Includes the grant of awards as described above, including the grant of the 2017 rectification award to Stuart Paynter.

2.          Includes the 2014 DBP awards to be met by market purchased shares held by the Oxford BioMedica Employee Trust

Under the terms of the 2015 DBP, the DBP awards will become exercisable as to one third of the shares subject to each award on each of the first three anniversaries of the grant date.

The 2018 LTIP awards are subject to a three year performance period and become exercisable from the third anniversary of the grant date, subject to the satisfaction of a performance condition. The vesting criteria is based on the average closing share price over the five business days immediately preceding the grant date of 903.8p. No vesting will occur if, over the three year vesting period, the compound annual growth rate of the share price is below 10% pa growth (i.e. 33% over 3 years).

The vesting schedule of the CEO's 2018 LTIP award is such that for the achievement of 10% growth over three years, 20% of the award will vest and, if 17.5% pa growth is achieved over the three years (i.e. 63% over the 3 years), 100% of the award will vest, with a linear increment between 20% and 100%.

The vesting schedule of the remainder of the Senior Executive Team is such that, for the achievement of 10% growth over three years, 25% of the award will vest and, if 17.5% pa growth is achieved over the three years (i.e. 63% over the 3 years), 100% of the award will vest, with a linear increment between 25% and 100%.

There will also be a performance underpin, such that the awards would only vest to the extent that the Remuneration Committee considers that the overall performance of the business across the period justifies it. The share price at the third anniversary of the grant date will also be averaged across the three month period immediately preceding the end of the performance period to avoid rewarding for short term spikes in performance. Clawback and malus provisions will apply to the awards.

When calculating the number of share options to be awarded to the CFO upon his appointment in September 2017 an administrative error was made. This led to the CFO being granted with a smaller number of share options than he was in fact entitled to. In order to rectify this administrative error, 7,235 nil-cost share options will be granted to the CFO. These options are subject to the same terms as the original 2017 LTIP award.

The issued share capital of the Company is 65,752,788 ordinary shares of 50 pence each.

The Notification of Dealing Forms set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.

Notification of Dealing Form

1.	Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)	Name	John Dawson
2.	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/ amendment	Initial Notification
3.	Details of the Issuer
a)	Name	Oxford BioMedica plc
b)	LEI code	213800S1GVQNXQ15K851
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 Identification code	Ordinary Shares of 50 pence each ISIN: GB00BDFBVT43
b)	Nature of the transaction	Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards.
c)	Price(s) and volumes(s)	LTIP Award Price Volume Nil cost award 52,555 DBP Award Price Volume Nil cost award 20,586
d)	Aggregated information -   Aggregate volume -   Price	Awards granted over 73,141 shares in total N/A
e)	Date of the transaction	2018-08-07
f)	Place of the transaction	London Stock Exchange, Main Market (XLON)

1.	Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)	Name	Stuart Paynter
2.	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/ amendment	Initial Notification
3.	Details of the Issuer
a)	Name	Oxford BioMedica plc
b)	LEI code	213800S1GVQNXQ15K851
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 Identification code	Ordinary Shares of 50 pence each ISIN: GB00BDFBVT43
b)	Nature of the transaction	Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards.
c)	Price(s) and volumes(s)	2018 LTIP Award Price Volume Nil cost award 23,647 DBP Award Price Volume Nil cost award 4,354 2017 LTIP rectification Price Volume Nil cost award 7,235
d)	Aggregated information -   Aggregate volume -   Price	Awards granted over 35,236 shares in total N/A
e)	Date of the transaction	2018-08-07
f)	Place of the transaction	London Stock Exchange, Main Market (XLON)

1.	Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)	Name	James Miskin
2.	Reason for the notification
a)	Position/status	Chief Technical Officer
b)	Initial notification/ amendment	Initial Notification
3.	Details of the Issuer
a)	Name	Oxford BioMedica plc
b)	LEI code	213800S1GVQNXQ15K851
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 Identification code	Ordinary Shares of 50 pence each ISIN: GB00BDFBVT43
b)	Nature of the transaction	Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards.
c)	Price(s) and volumes(s)	DBP Award Price Volume Nil cost award 5,156 2018 LTIP Award Price Volume Nil cost award 21,022
d)	Aggregated information -   Aggregate volume -   Price	Awards granted over 26,178 shares in total N/A
e)	Date of the transaction	2018-08-07
f)	Place of the transaction	London Stock Exchange, Main Market (XLON)

1.	Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)	Name	Kyriacos Mitrophanous
2.	Reason for the notification
a)	Position/status	Chief Scientific Officer
b)	Initial notification/ amendment	Initial Notification
3.	Details of the Issuer
a)	Name	Oxford BioMedica plc
b)	LEI code	213800S1GVQNXQ15K851
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 Identification code	Ordinary Shares of 50 pence each ISIN: GB00BDFBVT43
b)	Nature of the transaction	Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan and Deferred Bonus Plan. No consideration was paid for the grant of awards.
c)	Price(s) and volumes(s)	DBP Award Price Volume Nil cost award 5,156 2018 LTIP Award Price Volume Nil cost award 21,022
d)	Aggregated information -   Aggregate volume -   Price	Awards granted over 26,178 shares in total N/A
e)	Date of the transaction	2018-08-07
f)	Place of the transaction	London Stock Exchange, Main Market (XLON)

1.	Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)	Name	Lisa Giles
2.	Reason for the notification
a)	Position/status	Chief Project & Development Officer
b)	Initial notification/ amendment	Initial Notification
3.	Details of the Issuer
a)	Name	Oxford BioMedica plc
b)	LEI code	213800S1GVQNXQ15K851
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 Identification code	Ordinary Shares of 50 pence each ISIN: GB00BDFBVT43
b)	Nature of the transaction	Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan. No consideration was paid for the grant of awards.
c)	Price(s) and volumes(s)	2018 LTIP Award Price Volume Nil cost award 17,149
d)	Aggregated information -   Aggregate volume -   Price	Awards granted over 17,149 shares in total N/A
e)	Date of the transaction	2018-08-07
f)	Place of the transaction	London Stock Exchange

1.	Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)	Name	Nick Page
2.	Reason for the notification
a)	Position/status	Chief Operations Officer
b)	Initial notification/ amendment	Initial Notification
3.	Details of the Issuer
a)	Name	Oxford BioMedica plc
b)	LEI code	213800S1GVQNXQ15K851
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 Identification code	Ordinary Shares of 50 pence each ISIN: GB00BDFBVT43
b)	Nature of the transaction	Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan. No consideration was paid for the grant of awards.
c)	Price(s) and volumes(s)	2018 LTIP Award Price Volume Nil cost award 22,682
d)	Aggregated information -   Aggregate volume -   Price	Awards granted over 22,682 shares in total N/A
e)	Date of the transaction	2018-08-07
f)	Place of the transaction	London Stock Exchange, Main Market (XLON)

1.	Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)	Name	Helen Stephenson-Ellis
2.	Reason for the notification
a)	Position/status	Chief People Officer
b)	Initial notification/ amendment	Initial Notification
3.	Details of the Issuer
a)	Name	Oxford BioMedica plc
b)	LEI code	213800S1GVQNXQ15K851
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 Identification code	Ordinary Shares of 50 pence each ISIN: GB00BDFBVT43
b)	Nature of the transaction	Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan. No consideration was paid for the grant of awards.
c)	Price(s) and volumes(s)	2018 LTIP Award Price Volume Nil cost award 13,941
d)	Aggregated information -   Aggregate volume -   Price	Awards granted over 13,941 shares in total N/A
e)	Date of the transaction	2018-08-07
f)	Place of the transaction	London Stock Exchange, Main Market (XLON)

1.	Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)	Name	Jason Slingsby
2.	Reason for the notification
a)	Position/status	Chief Business Officer
b)	Initial notification/ amendment	Initial Notification
3.	Details of the Issuer
a)	Name	Oxford BioMedica plc
b)	LEI code	213800S1GVQNXQ15K851
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 Identification code	Ordinary Shares of 50 pence each ISIN: GB00BDFBVT43
b)	Nature of the transaction	Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan. No consideration was paid for the grant of awards.
c)	Price(s) and volumes(s)	2018 LTIP Award Price Volume Nil cost award 24,894
d)	Aggregated information -   Aggregate volume -   Price	Awards granted over 24,894 shares in total N/A
e)	Date of the transaction	2018-08-07
f)	Place of the transaction	London Stock Exchange, Main Market (XLON)

- Ends -

For further information, please contact:

Oxford BioMedica plc:                                                            Tel: [phone]

John Dawson,  Chief Executive Officer

Stuart Paynter, Chief Financial Officer

Financial PR Enquiries:                                                           Tel: [phone]

Consilium Strategic Communications

Mary-Jane Elliott/Matthew Neal/Olivia Manser/Laura Thornton

Notes for editors

About Oxford BioMedica^®

Oxford BioMedica (LSE:OXB) is a leading gene and cell therapy group focused on developing life changing treatments for serious diseases. Oxford BioMedica and its subsidiaries (the "Group") have built a sector leading lentiviral vector delivery platform (LentiVector^®), which the Group leverages to develop in vivo and ex vivo products both in-house and with partners. The Group has created a valuable proprietary portfolio of gene and cell therapy product candidates in the areas of oncology, ophthalmology and CNS disorders. The Group has also entered into a number of partnerships, including with Novartis, Bioverativ, Sanofi, Axovant, Orchard Therapeutics, GC LabCell and Immune Design, through which it has long-term economic interests in other potential gene and cell therapy products. Oxford BioMedica is based across several locations in Oxfordshire, UK and employs more than 320 people. Further information is available at www.oxfordbiomedica.co.uk

 

END

 

 

DSHFKFDQNBKDBFK