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06 June 2024
Cambridge Nutritional Sciences PLC
("CNSL" or the "Company")
Grant of Options
CNSL, (AIM:CNSL) the specialist medical diagnostics company focused on promoting a personalised and functional approach to health and nutrition, announces that on 6 June 2024 the Board granted share options (the "Options") over its ordinary shares of 4.0 pence each ("Ordinary Shares") to the Chair, Carolyn Rand, Non-Executive Director, and to Jeremy Millard, Non-Executive Director.
Following this grant of Options, the Company has options in issue over 18,184,049 Ordinary Shares, representing approximately 8% per cent. of the Company's total issued share capital.
|
Director |
Number of Options granted on |
Exercise Price |
Total options held |
|
|
9,930,000 |
4.0p |
9,930,000 |
|
Jeremy Millard |
450,000 |
4.0p |
783,334 |
Grant of Options
The Company has granted the Options to incentivise non-executive director ("NED") performance for the benefit of all Shareholders and to more effectively reward active NED engagement.
The Options are subject to time conditions (as set out below); good/bad leaver provisions; and being a director of the Company on the date of vesting.
Vesting criteria for Options are subject to time conditions as follows:
|
Amount Vesting |
Time Condition |
|
34 per cent. ("Tranche One") |
On the first anniversary of 6 June 2024 |
|
33 per cent. ("Tranche Two") |
On the second anniversary of 6 June 2024 |
|
33 per cent. ("Tranche Three") |
On the third anniversary of 6 June 2024 |
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).
For further information, please contact:
|
Cambridge Nutritional Sciences Plc Jag Grewal, Chief Executive Officer
|
|
|
Cavendish Capital Markets Limited Geoff Nash / Edward Whiley / George Dollemore (Corporate Finance) Nigel Birks / Harriet Ward (ECM) |
Tel: 020 7220 0500 |
About Cambridge Nutritional Sciences Plc
Cambridge Nutritional Sciences Plc (AIM: CNSL) is the specialist medical diagnostics company focused on promoting a personalised and functional approach to health and nutrition.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name |
Carolyn Rand |
||||
|
2. |
Reason for the notification |
|||||
|
a) |
Position/status |
Chair, Non-Executive Chair |
||||
|
b) |
Initial notification/ |
Initial Notification |
||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Cambridge Nutritional Sciences plc |
||||
|
b) |
LEI |
2138007U9P4BTZTYIR92 |
||||
|
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 |
Options over Ordinary Shares of 4.0p each |
||||
|
Identification code |
ISIN: GB00B1VCP282 |
|||||
|
b) |
Nature of |
Grant of Options |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
n/a |
||||
|
e) |
Date of the |
6 June 2024 |
||||
|
f) |
Place of the transactions |
Outside a trading venue |
||||
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name |
Jeremy Millard |
||||
|
2. |
Reason for the notification |
|||||
|
a) |
Position/status |
Non-Executive Director |
||||
|
b) |
Initial notification/ |
Initial Notification |
||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Cambridge Nutritional Sciences plc |
||||
|
b) |
LEI |
2138007U9P4BTZTYIR92 |
||||
|
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 |
Options over Ordinary Shares of 4.0p each |
||||
|
Identification code |
ISIN: GB00B1VCP282 |
|||||
|
b) |
Nature of |
Grant of Options |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
n/a |
||||
|
e) |
Date of the |
6 June 2024 |
||||
|
f) |
Place of the transactions |
Outside a trading venue |
||||
Cambridge Nutritional Sciences PLC (CNSL) announced on 6 June 2024 the grant of share options to its Chair, Carolyn Rand, and Non-Executive Director, Jeremy Millard. Carolyn Rand received 9,930,000 options and Jeremy Millard received 450,000 options, both with an exercise price of 4.0 pence per share. Following this grant, CNSL has 18,184,049 options in issue, representing approximately 8% of its total issued share capital, with vesting subject to time conditions over three years.
| Date | 6 Jun 2024 |
| Time | 16:26:24 |
| Category | Director/PDMR dealings |
| ID | 4766R |