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| Date | 26 Jan 2024 |
| Time | 07:00:06 |
| Category | Director/PDMR dealings |
| ID | 9759A |
26 January 2024
ONDINE BIOMEDICAL INC.
("Ondine Biomedical", "Ondine" or the "Company")
Grant of Share Options
Canadian life sciences company, Ondine Biomedical Inc., (AIM: OBI) announces that on 25 January 2024 ("Grant Date") it awarded a total of 11,950,000 stock options ("Options") to subscribe for new common shares in the Company. This strategic move aligns with the Company's Option Plan, emphasizing the commitment to attracting, retaining, and inspiring key talent within its workforce, including employees, directors, advisory board members, and key consultants.
In the period since 30 June 2023, 4,355,000 options have naturally expired or been forfeited. Following the above grant of Options, Ondine Biomedical now has a total of 15,640,000 outstanding Options in issue, equivalent to 6.9% of the Company's current issued share capital.
The distribution of Options to Persons Discharging Managerial Responsibilities ("PDMR") is as follows:
|
PDMR |
Position |
Options granted |
Exercise price |
Total options now held |
|
Carolyn Cross |
Executive Director |
2,000,000 |
9p |
2,075,000 |
|
Nicolas Loebel |
Executive Director |
3,500,000 |
9p |
3,575,000 |
|
Joseph P. Errico |
Chief Financial Officer |
3,000,000 |
9p |
3,000,000 |
|
Jean Charest |
Chairman |
40,000 |
9p |
140,000 |
|
Craig Tooman |
Non-Executive Director |
25,000 |
9p |
175,000 |
|
Michael Farrar |
Non-Executive Director |
25,000 |
9p |
175,000 |
|
Jean Duvall |
Non-Executive Director |
25,000 |
9p |
75,000 |
|
Simon Sinclair |
Chief Medical Officer |
150,000 |
9p |
200,000 |
|
Junaid Bajwa |
Non-Executive Director |
25,000 |
9p |
75,000 |
The Options have an exercise price of 9p, being the share price at which new common shares were issued in connection with the Company's fundraising announced on 30 November 2023. The Options vest evenly over a period of 3 years from the Grant Date, with a third vesting on each of the three successive anniversaries of the Grant Date, and can be exercised for a period of five years from the Grant Date.
The FCA notifications in respect of the above Option grants, made in accordance with the requirements of the UK Market Abuse Regulation, are appended below.
Enquiries:
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Ondine Biomedical Inc. |
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Angelika Vance, Corporate Communications |
+001 (604) 838 2702 |
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Singer Capital Markets (Nominated Adviser and Joint Broker) |
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Aubrey Powell, Asha Chotai, Sam Butcher |
+44 (0)20 7496 3000 |
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RBC Capital Markets (Joint Broker) |
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Rupert Walford, Kathryn Deegan |
+44 (0)20 7653 4000 |
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Vane Percy & Roberts (Media Contact) |
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Simon Vane Percy, Amanda Bernard |
+44 (0)77 1000 5910 |
About Ondine Biomedical Inc.
Ondine Biomedical Inc. is a Canadian life science company innovating in the field of photodisinfection therapies. Ondine has a pipeline of investigational products, based on its proprietary photodisinfection platform, in various stages of development. Ondine's nasal photodisinfection technology is approved in several jurisdictions under the brand name Steriwave®. It has been awarded the CE mark and, in the US, has been granted Qualified Infectious Disease Product designation and Fast Track status by the FDA. Products beyond nasal photodisinfection include therapies for a variety of medical indications such as chronic sinusitis, ventilator-associated pneumonia, burns, and other indications.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
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1. |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
1. Carolyn Cross 2. Nicolas Loebel 3. Joseph P. Errico 4. Jean Charest 5. Craig Tooman 6. Mike Farrar 7. Jean Duvall 8. Simon Sinclair 9. Junaid Bajwa |
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2. |
Reason for the Notification |
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a) |
Position/status |
1. CEO (PDMR) 2. President (PDMR) 3. CFO (PDMR) 4. Non-executive Chair (PDMR) 5. Non-executive Director (PDMR) 6. Non-executive Director (PDMR) 7. Non-executive Director (PDMR) 8. Chief Medical Officer (PDMR) 9. Non-executive Director (PDMR) |
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b) |
Initial notification/Amendment |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Ondine Biomedical Inc. |
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b) |
LEI |
9845005B69E07CGF4A56 |
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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 |
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a) |
Description of the Financial instrument, type of instrument
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Options to subscribe for Common Shares |
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Identification code |
ISIN: CA68234M2058 |
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b) |
Nature of the transaction |
Grant of options to subscribe for common shares of no par value |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information: ·Aggregated volume ·Price |
N/A
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e) |
Date of the transaction |
25 January 2024 |
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f) |
Place of the transaction |
Outside a trading venue |
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