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Shield Therapeutics plc granted its Chief Executive Officer, Greg Madison, share options over 7,015,096 ordinary shares under its Retention and Performance Share Plan on 02 June 2023. These options have an exercise price of 6.8p per share. Vesting is split, with 3,507,548 options vesting annually in three equal tranches and the remaining 3,507,548 options vesting on 02 June 2024, both conditional on Mr. Madison remaining in office.
| Date | 6 Jun 2023 |
| Time | 10:10:00 |
| Category | Director/PDMR dealings |
| ID | 8095B |
Shield Therapeutics plc
("Shield" or the "Company" or the "Group")
Grant of share options to the Chief Executive Officer
London, UK, 06 June 2023: Shield Therapeutics plc (LSE: STX), a commercial stage, pharmaceutical company with a focus on addressing iron deficiency with its lead product Accrufer®/ Feraccru® (ferric maltol), announces that on 02 June 2023 it granted share awards in the form of options over ordinary shares in the capital of the Company ("Ordinary Shares") under Shield Therapeutics' Retention and Performance Share Plan ("RPSP").
In accordance with the requirements of the EU Market Abuse Regulations the following options have been granted to Greg Madison who is deemed a PDMR:
|
Name |
Option Plan |
Number of Ordinary Shares under Option |
Vesting Date |
|
Greg Madison |
RPSP |
3,507,548 |
Vesting occurs annually in three equal tranches and is not subject to performance conditions but is subject to Mr Madison remaining in office as at the date of vesting. |
|
Greg Madison |
RPSP |
3,507,548 |
Vesting occurs on 02 June 2024 and is not subject to performance conditions but is subject to Mr Madison remaining in office as at the date of vesting. |
Mr Madison currently holds 1,893,039 ordinary shares in the Company.
|
1. |
Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") |
|||||
|
a) |
Name |
Greg Madison |
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|
2. |
Reason for the notification |
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|
a) |
Position/status |
Chief Executive Officer
|
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|
b) |
Initial notification/ amendment |
Initial Notification |
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|
3. |
Details of the Issuer |
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|
a) |
Name |
Shield Therapeutics plc |
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|
b) |
LEI code |
213800G74QWY15FC3W71 |
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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
Identification code |
Options over new Ordinary Shares
ISIN: GB00BYV81293 |
||||
|
b) |
Nature of the transaction |
Grant of awards over new Ordinary Shares under the Company's Retention and Performance Share Plan. |
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|
c) |
Price(s) and volumes(s) |
2023 RPSP Award
|
||||
|
d) |
Aggregated information - Aggregate volume
- Price
|
Awards granted over 7,015,096 shares in total
6.8p exercise price
|
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|
e) |
Date of the transaction |
02 June 2023 |
||||
|
f) |
Place of the transaction |
Outside of trading venue |
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For further information please contact:
|
Shield Therapeutics plc |
|
|
Greg Madison, CEO |
+44 (0) 191 511 8500 |
|
Hans-Peter Rudolf, CFO |
|
|
Nominated Adviser and Joint Broker |
|
|
Peel Hunt LLP |
|
|
James Steel/Oliver Duckworth |
+44 (0)20 7418 8900 |
|
Joint Broker finnCap Ltd Geoff Nash/ George Dollemore/Alice Lane/Nigel Birks |
+44 (0)20 7220 0500 |
|
|
|
|
Financial PR & IR Advisor |
|
|
Walbrook PR |
|
|
Lianne Applegarth/Alice Woodings |
+44 (0)20 7933 8780 or [email protected] |
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|
Investor Contact (US Advisor) LifeSci Advisors, LLC John Mullaly |
+1 617 429 3548 or [email protected] |
About Accrufer®/Feraccru®
Accrufer®/Feraccru® (ferric maltol) is a novel, stable, non-salt based oral therapy for adults with iron deficiency, with or without anemia. Accrufer®/Feraccru® has a novel mechanism of action compared to other oral iron therapies and has been shown to be an efficacious and well-tolerated therapy in a range of clinical trials. More information about Accrufer®/Feraccru®, including the product label, can be found at: www.accrufer.com and www.feraccru.com
About Shield Therapeutics plc
Shield is a commercial stage specialty pharmaceutical company with a focus on addressing iron deficiency with its lead product Accrufer®/Feraccru® (ferric maltol). The Group has launched Accrufer® in the US and Feraccru® is commercialized in the UK and European Union by Norgine B.V., who also have the marketing rights in Australia and New Zealand. Shield also has an exclusive license agreement with Beijing Aosaikang Pharmaceutical Co., Ltd., for the development and commercialization of Accrufer® / Feraccru® in China, Hong Kong, Macau and Taiwan, with Korea Pharma Co., Ltd. in the Republic of Korea, and with KYE Pharmaceuticals Inc. in Canada.
Accrufer®/Feraccru® has patent coverage until the mid-2030s
Accrufer®/Feraccru® are registered trademarks of the Shield Group