Grant and Vesting of Awards

 

 

Allergy Therapeutics plc

("Allergy Therapeutics" or the "Group")

 

Grant and Vesting of Awards under Long Term Incentive Plan

 

Allergy Therapeutics (AIM:AGY), the fully integrated pharmaceutical company specialising in allergy vaccines, announces that,

 

1.    Grant of Award

 

Pursuant to the Company's Long Term Incentive Plan ("LTIP") the following conditional awards of shares of 0.1 pence each were made to Executive Directors at a nominal cost of 0.1 pence each on 27 March 2020 (the "Awards").

 

Executive Director	Number of Conditional shares awarded
Manuel Llobet	900,000
Nick Wykeman	450,000

 

 

The Awards have been granted in accordance with the LTIP rules and vesting is conditional on the satisfaction of performance conditions in respect of earnings growth and share price growth over three years.  

 

2.       Vesting of Award

 

Performance conditions attaching to provisional awards ("Awards") made pursuant to the Company's Long Term Incentive Plan ("LTIP") for the three years ended 30 June 2019, details of which were announced on 30 December 2016, have been met in part.

Consequently, on 27 March 2020, Allergy Therapeutics granted certain of its directors low cost options ("Options") over the Company's ordinary shares of 0.1 pence each ("Ordinary Shares") in replacement for the Awards made under the LTIP as follows:

Director	Percentage of Award Vested	Total number of Ordinary Shares over which Options granted	Exercise Price
Manuel Llobet,	50%	845,000	0.1 pence
Nicolas Wykeman	50%	211,250	0.1 pence

 

In accordance with the rules of the LTIP, 50% of these Options are exercisable immediately and the remaining 50% are subject to a holding period of three years. The exercise period is ten years from date of grant.  

 

Following the above share transactions, the Executive Directors hold the following:

 

Director	Unvested LTIP Awards	Low cost Share Options	Interest in Ordinary Shares
Manuel Llobet	2,700,000	3,000,423	3,325,000
Nicolas Wykeman	1,350,000	211,250	300,000

 

 

 

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	Manuel Llobet
2	Reason for the notification
a)	Position/status	Manuel Llobet - Chief Executive Office and PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ALLERGY THERAPEUTICS PLC
b)	LEI	LEIR97215202003301009534776
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 financial instrument, type of instrument	Conditional award of shares and grant of share options under the Company's Long Term Incentive Plan
b)	Identification code	GB00B02LCQ05
c)	Nature of the transaction	Grant of Conditional Awards
d)	Price(s) and volume(s)	Award Price(s)   Volume(s) Conditional Shares £0.001 900,000 Share options £0.001 845,000
e)	Aggregated information	n/a
f)	Date of the transaction	27 March 2020
g)	Place of the transaction	Outside a trading venue

 

 

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	Nick Wykeman
2	Reason for the notification
a)	Position/status	Nick Wykeman - Chief Financial Officer and PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ALLERGY THERAPEUTICS PLC
b)	LEI	LEIR97215202003301009534776
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 financial instrument, type of instrument	Conditional award of shares and grant of share options under the Company's Long Term Incentive Plan
b)	Identification code	GB00B02LCQ05
c)	Nature of the transaction	Grant of Conditional Awards
d)	Price(s) and volume(s)	Award Price(s)   Volume(s) Conditional Shares £0.001 450,000 Share options £0.001 211,250
e)	Aggregated information	n/a
f)	Date of the transaction	27 March 2020
g)	Place of the transaction	Outside a trading venue

 

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").

 

For further information, please contact:

 

 

Allergy Therapeutics

+44 (0) 1903 845 820

Manuel Llobet, Chief Executive Officer

Nick Wykeman, Chief Financial Officer

 

Panmure Gordon

+44 (0) 20 7886 2500

Freddy Crossley, Emma Earl, Corporate Finance

Erik Anderson, Corporate Broking

 

Consilium Strategic Communications

+44 20 3709 5700

Mary-Jane Elliott / David Daley / Nicholas Brown / Olivia Manser

[email protected]

 

Stern Investor Relations, Inc.

+1 212 362 1200

Christina Tartaglia

[email protected]

 

 

Notes for editors:

 

About Allergy Therapeutics

 

Allergy Therapeutics is an international specialty pharmaceutical group focussed on the treatment and diagnosis of allergic disorders, including immunotherapy vaccines, that have the potential to cure disease. The Group sells proprietary and third party products from its subsidiaries in nine major European countries and via distribution agreements in an additional ten countries. Its broad pipeline of products in clinical development include vaccines for grass, tree and house dust mite, and peanut allergy vaccine in pre-clinical development. Adjuvant systems to boost performance of vaccines outside allergy are also in development.

 

Formed in 1999 out of Smith Kline Beecham, Allergy Therapeutics is headquartered in Worthing, UK with more than 11,000m² of state-of-the-art MHRA-approved manufacturing facilities and laboratories.  The Group, which has achieved double digit compound annual growth since formation, employs c.600 employees and is listed on the London Stock Exchange (AIM:AGY). For more information, please see www.allergytherapeutics.com.