Grant of share options

RNS Number : 4590V

Shield Therapeutics PLC

09 August 2022

 

Shield Therapeutics plc

("Shield" or the "Company" or the "Group")

Grant of share options

London, UK, 09 August 2022:  Shield Therapeutics plc (LSE: STX), a commercial stage, pharmaceutical company with a focus on addressing iron deficiency with its lead product Accrufer®/Feraccru® (ferric maltol), announces that on 08 August 2022 it granted share awards in the form of options over ordinary shares in the capital of the Company ("Ordinary Shares") under Shield Therapeutics' Retention and Performance Share Plan ("RPSP") to the Group CEO and all employees. 

"We are at an important time in the evolution of Shield. Our business in the US has progressed substantially with increasing prescriptions, expanded market access and growing awareness and recognition of the benefits of Accrufer® as a treatment for iron deficiency. Critical to our success is the continued outstanding commitment of our employees, led by our CEO. We want to align the objectives of this year with our annual equity grant process to further incentivise the team working on making Accrufer® the oral iron of choice and ensuring retention of our valued employees:" stated Hans Peter Hasler, Non-Executive Chairman of the Board of Shield.

The following options have been granted to Greg Madison, Chief Executive Officer, who is deemed a PDMR:

Name	Option Plan	Number of Ordinary Shares under Option	Vesting Date
Greg Madison	RPSP	2,596,058	Three years from date of grant, subject to Mr Madison remaining in office as at the date of vesting.
Greg Madison	RPSP	2,596,058	Twelve months from date of grant, subject to Mr Madison remaining in office as at the date of vesting.

The proportion of total option awards to Greg Madison is approximately 26% of the total options granted at this time. Greg Madison does not currently hold any ordinary shares in the Company.

1.	Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA")
a)	Name	Greg Madison
2.	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/ amendment	Initial Notification
3.	Details of the Issuer
a)	Name	Shield Therapeutics plc
b)	LEI code	213800G74QWY15FC3W71
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	Options over new Ordinary Shares ISIN: GB00BYV81293
b)	Nature of the transaction	Grant of awards over new Ordinary Shares under the Company's Retention and Performance Share Plan.
c)	Price(s) and volumes(s)	2022 RPSP Award Price (£) Volume 0.072 5,192,116
d)	Aggregated information - Aggregate volume - Price	Awards granted over 5,192,116 shares in total 7.2p exercise price
e)	Date of the transaction	08 August 2022
f)	Place of the transaction	Outside of trading venue

For further information please contact:

Shield Therapeutics plc	www.shieldtherapeutics.com
Greg Madison, CEO	[phone]
Hans-Peter Rudolf, CFO
Nominated Adviser and Joint Broker
Peel Hunt LLP
James Steel/Christopher Golden	[phone]
Joint Broker finnCap Ltd  Geoff Nash/ George Dollemore/Alice Lane/Nigel Birks	[phone]
Financial PR & IR Advisor
Walbrook PR
Lianne Applegarth/Alice Woodings	[phone] or  [e-mail]
Investor Contact (US Advisor) LifeSci Advisors, LLC John Mullaly	[phone] or [e-mail]

About Accrufer®/Feraccru®

Accrufer®/Feraccru® (ferric maltol) is a novel, stable, non-salt based oral therapy for adults with iron deficiency, with or without anemia. Accrufer®/Feraccru® has a novel mechanism of absorption compared to other oral iron therapies and has been shown to be an efficacious and well-tolerated therapy in a range of clinical trials. More information about Accrufer®/Feraccru®, including the product label, can be found at: www.accrufer.com and www.feraccru.com

About Shield Therapeutics plc

Shield is a commercial stage specialty pharmaceutical company with a focus on addressing iron deficiency with its lead product Accrufer®/Feraccru® (ferric maltol). The Group has launched Accrufer® in the US and Feraccru® is commercialized in the UK and European Union by Norgine B.V., who also have the marketing rights in Australia and New Zealand. Shield also has an exclusive license agreement with Beijing Aosaikang Pharmaceutical Co., Ltd., for the development and commercialization of Accrufer® / Feraccru® in China, Hong Kong, Macau and Taiwan, with Korea Pharma Co., Ltd. in the Republic of Korea, and with KYE Pharmaceuticals Inc. in Canada.

Accrufer®/Feraccru® has patent coverage until the mid-2030s

Accrufer®/Feraccru® are registered trademarks of the Shield Group

 

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