Employee SAYE Share Plan

RNS Number : 6905N

Tissue Regenix Group PLC

20 May 2015

 

Tissue Regenix Group Plc

("Tissue Regenix" or "the Company")

Employee SAYE Share Plan

The Company has established a H.M. Revenue and Customs "HMRC" approved Save As You Earn option scheme (the "Scheme"), effective over a three year period from 10 June 2015, at a fixed price of 16.34p per share.

All employees, including the Directors of the Company, will be entitled to participate in the Scheme under the same terms. Current HMRC rules allow employees to invest up to a maximum of £500 per month. Should an employee choose to invest the maximum amount it would result in them being entitled to buy 110,159 shares at the end of the three year period.  However, participants may opt to withdraw from the Scheme, recovering any funds that they may have paid into the scheme.

It is envisaged that Antony Odell, Chief Executive Officer and Ian Jefferson, Chief Financial Officer will participate in the scheme. This notification is therefore made due to the potential beneficial interest of these Directors.

For Further Information

Tissue Regenix Group Plc:                                                           [phone]

Antony Odell

Ian Jefferson

Jefferies International Ltd:                                                         [phone]

Simon Hardy

Harry Nicholas

Tulchan Communications:                                                           [phone]

Tom Buchanan                                                                                 

Victoria Huxster                                                                              

About Tissue Regenix

Tissue Regenix is a leading medical devices company in the field of regenerative medicine. The company's patented decellularisation ('dCELL®') technology removes DNA and other cellular material from animal and human tissue leaving an acellular tissue scaffold which is not rejected by the patient's body which can then be used to repair diseased or worn out body parts. The potential applications of this process are diverse and address many critical clinical needs such as vascular disease, heart valve replacement and knee repair.

 

Tissue Regenix was formed in 2006 when it was spun-out from the University of Leeds. The company commercialises academic research conducted by our partners around the World.

In November 2012 Tissue Regenix Group plc set up a subsidiary company in the United States- 'Tissue Regenix Wound Care Inc.', as part of its commercialisation strategy for its dCELL® technology platform.

 

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