Award of Shares under Share Incentive Plan

Creo Medical Group PLC

22 January 2024

 

 

Creo Medical Group plc

("Creo" the "Company" or the "Group")

Award of Shares under Share Incentive Plan, Director Dealings, Issue of Equity and TVR

Creo Medical Group plc (AIM: CREO), the medical device company focused on the emerging field of surgical endoscopy, implemented an HMRC approved Share Incentive Plan ("SIP") during 2020 which is available to all of the Company's UK based employees, including Directors.

Under the SIP, shares are acquired in four ways:

·    Partnership Shares where an employee can spend up to a £1,800 or 10% of their pre-tax income, whichever is the lower;

·    Matching Shares, where Creo can give up to two free Matching Shares for each Partnership Share bought.  The plan requires employees to remain in employment for three years to benefit from the Matching Shares;

·    Free Shares, where Creo can give up to £3,600 of free shares in any tax year; and

·    Dividend Shares where additional shares can be bought with any dividends paid.

The Company has been notified that Fiduchi Trustees (UK) Limited, the independent trustee of the SIP, acquired, in accordance with the SIP's rules and on behalf of SIP participants, 171,050 ordinary shares in the Company ("Ordinary Shares"), at a price of £0.435 per Ordinary Share on 15 January 2024 to meet its obligations under the SIP.  Under the terms of the SIP, the Company is required to issue to the SIP, two Ordinary Shares in the Company for each Partnership Share purchased, being 225,024 new Ordinary Shares (having taken into account 117,076 ordinary shares held by the Trust which were previously allocated to employees who ceased employment before the shares had vested).  These new Ordinary Shares will be held by Fiduchi Trustees (UK) Limited as trustee of the SIP. 

Craig Gulliford, Richard Rees and Christopher Hancock, executive directors of the Company (the "Participating Directors") have received Partnership Shares at a price of £0.435 per share and Matching Shares at a price of £0.001 per share in accordance with terms of the SIP (the "Transaction"). Following this the Participating Directors' shareholdings in the Company are as set out in the table below:

Director	Total number of Ordinary Shares purchased or awarded under SIP	Total number of Ordinary Shares held post Transaction
Craig Gulliford, CEO	6,207	1,644,527[1]
Richard Rees, CFO	6,207	2,819,963
Christopher Hancock, CTO	6,207	4,816,413

Accordingly, the Company announces that it has made an application for 225,024 new Ordinary Shares to be admitted to trading on AIM.  It is expected that admission will take place on 26 January 2024.  Following the allotment and issue, the Company's issued share capital consists of 361,476,442 Ordinary Shares. The Company does not hold any shares in Treasury. As such the total number of shares in issue with voting rights is 361,476,442.

Total Voting Rights (TVR)

The above figure of 361,476,442 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail in relation to the award of the SIP Shares to the Participating Directors.

[1] This figure includes 1,000,000 shares held by Mr Gulliford’s wife.

Enquiries:

Creo Medical Group plc	www.creomedical.com
Richard Rees (CFO)	[phone]
Cavendish Capital Markets Limited	[phone]
Stephen Keys / Camilla Hume (NOMAD)
Michael Johnson (Sales)
Deutsche Numis (Joint Broker) Freddie Barnfield / Duncan Monteith / Euan Brown	[phone]
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus / Sam Allen / Phillip Marriage	Mob: [phone]

About Creo Medical

Creo is a medical device company focused on the development and commercialisation of minimally invasive electrosurgical devices, bringing advanced energy to endoscopy.

The Company's vision is to improve patient outcomes through the development and commercialisation of a suite of electrosurgical medical devices, each enabled by CROMA, powered by Kamaptive. The Group has developed the CROMA powered by Kamaptive full-spectrum adaptive technology to optimise surgical capability and patient outcomes. Kamaptive is a seamless, intuitive integration of multi-modal energy sources, optimised to dynamically adapt to patient tissue during procedures such as resection, dissection, coagulation, and ablation of tissue. Kamaptive technology provides clinicians with increased flexibility, precision and controlled surgical solutions. CROMA currently delivers bipolar radiofrequency ("RF") energy for precise localised cutting and focused high frequency microwave ("MW") energy for controlled coagulation and ablation via a single accessory port. This technology, combined with the Group's range of patented electrosurgical devices, is designed to provide clinicians with flexible, accurate and controlled clinical solutions. The Directors believe the Company's technology can impact the landscape of surgery and endoscopy by providing a safer, less invasive and more cost-efficient option for procedures.

For more information, please refer to the website www.creomedical.com

1. Details of PDMR
a)	Name	Craig Gulliford
b)	Position / status	CEO
c)	Initial notification / amendment	Initial notification
2. 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	Ordinary Shares
b)	Nature of the transaction	Purchase of Ordinary Shares under Share Incentive Plan
c)	Price(s) and volume(s)	Prices Volume(s) £0.435 2,069
d)	Aggregated information Aggregated volume Price	N/A - Single transaction
e)	Date of the transaction	2024-01-19 GMT
f)	Place of the transaction	London Stock Exchange

1. Details of PDMR
a)	Name	Craig Gulliford
b)	Position / status	CEO
c)	Initial notification / amendment	Initial notification
2. 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	Ordinary Shares
b)	Nature of the transaction	Award of Ordinary Shares under Share Incentive Plan
c)	Price(s) and volume(s)	Prices Volume(s) £0.001 4,138
d)	Aggregated information Aggregated volume Price	N/A - Single transaction
e)	Date of the transaction	2024-01-19 GMT
f)	Place of the transaction	London Stock Exchange

1. Details of PDMR
a)	Name	Richard Rees
b)	Position / status	CFO
c)	Initial notification / amendment	Initial notification
2. 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	Ordinary Shares
b)	Nature of the transaction	Purchase of Ordinary Shares under Share Incentive Plan
c)	Price(s) and volume(s)	Prices Volume(s) £0.435 2,069
d)	Aggregated information Aggregated volume Price	N/A - Single transaction
e)	Date of the transaction	2024-01-19 GMT
f)	Place of the transaction	London Stock Exchange

1. Details of PDMR
a)	Name	Richard Rees
b)	Position / status	CFO
c)	Initial notification / amendment	Initial notification
2. 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	Ordinary Shares
b)	Nature of the transaction	Award of Ordinary Shares under Share Incentive Plan
c)	Price(s) and volume(s)	Prices Volume(s) £0.001 4,138
d)	Aggregated information Aggregated volume Price	N/A - Single transaction
e)	Date of the transaction	2024-01-19 GMT
f)	Place of the transaction	London Stock Exchange

1. Details of PDMR
a)	Name	Christopher Hancock
b)	Position / status	CTO
c)	Initial notification / amendment	Initial notification
2. 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	Ordinary Shares
b)	Nature of the transaction	Purchase of Ordinary Shares under Share Incentive Plan
c)	Price(s) and volume(s)	Prices Volume(s) £0.435 2,069
d)	Aggregated information Aggregated volume Price	N/A - Single transaction
e)	Date of the transaction	2024-01-19 GMT
f)	Place of the transaction	London Stock Exchange

1. Details of PDMR
a)	Name	Christopher Hancock
b)	Position / status	CTO
c)	Initial notification / amendment	Initial notification
2. 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	Ordinary Shares
b)	Nature of the transaction	Award of Ordinary Shares under Share Incentive Plan
c)	Price(s) and volume(s)	Prices Volume(s) £0.001 4,138
d)	Aggregated information Aggregated volume Price	N/A - Single transaction
e)	Date of the transaction	2024-01-19 GMT
f)	Place of the transaction	London Stock Exchange

 

END