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Eden Research plc granted a total of 11,918,901 options under its Long Term Incentive Plan on July 4, 2024. Chief Executive Officer Sean Smith received 6,805,852 options and Chief Finance Officer Alex Abrey received 5,113,049 options, both at a strike price of 6.5p per share. These options, representing a 48% premium to the current share price, expire on June 30, 2028, and vest in three equal tranches over 36 months from the grant date.
| Date | 5 Jul 2024 |
| Time | 07:00:07 |
| Category | Director/PDMR dealings |
| ID | 2402V |
05 July 2024
Eden Research plc
("Eden" or "Company)
Grant of Awards Under Long-Term Incentive Plan
Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable biopesticides and plastic-free formulation technology for use in global crop protection, animal health and consumer products industries, confirms the grant of options under the Company's Long Term Incentive Plan ("LTIP") to Sean Smith, Chief Executive Officer, and Alex Abrey, Chief Finance Officer (together the "Executives"), as follows:
The Company has made a grant to the Executives, in respect of 2023 in order to ensure continuity of long term incentive, of options over 11,918,901 new Ordinary Shares in Eden ("the Options"), at a strike price of 6.5p each, representing a premium of 48% to the current share price, in the amounts of 6,805,852 awarded to Sean Smith and 5,113,049 awarded to Alex Abrey.
The Options expire on 30 June 2028 and vest as follows:
1/3 12 months from the date of grant
1/3 24 months from the date of grant
1/3 36 months from the date of grant
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail.
For further information contact:
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Eden Research plc |
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Sean Smith
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01285 359 555 |
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Cavendish Capital Markets Limited (Nominated advisor and broker) |
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Giles Balleny / George Lawson (corporate finance)
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020 7397 8900 |
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Hawthorn Advisors (Financial PR) |
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Victoria Ainsworth
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name |
Sean Smith |
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2
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Reason for the notification
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a)
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Position/status
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Chief Executive Officer |
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b)
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Initial notification /Amendment
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Initial Notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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Eden Research plc |
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b)
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LEI
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213800ZWTYTVQQSM3J85 |
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4
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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 |
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a)
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Description of the financial instrument, type of instrument Identification code
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Options over ordinary shares of 1 pence each
GB0001646941 |
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b)
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Nature of the transaction
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Grant of options |
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c)
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Price(s) and volume(s)
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d)
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Aggregated information - Aggregated volume - Price
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N/A |
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e)
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Date of the transaction
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4 July 2024 |
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f)
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Place of the transaction
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Outside of trading venue |
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name |
Alex Abrey |
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2
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Reason for the notification
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a)
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Position/status
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Chief Financial Officer |
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b)
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Initial notification /Amendment
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Initial Notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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Eden Research plc |
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b)
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LEI
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213800ZWTYTVQQSM3J85 |
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4
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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 |
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a)
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Description of the financial instrument, type of instrument Identification code
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Options over ordinary shares of 1 pence each
GB0001646941 |
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b)
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Nature of the transaction
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Grant of options |
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c)
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Price(s) and volume(s)
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|
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d)
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Aggregated information - Aggregated volume - Price
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N/A |
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e)
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Date of the transaction
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4 July 2024 |
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f)
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Place of the transaction
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Outside of trading venue |
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