Directors' Interest in Share Options

RNS Number : 9265P
Oxford Biomedica PLC
11 June 2015
 

 

 

Directors' Interest in Share Options

 

Oxford, UK - 11 June 2015: Oxford BioMedica plc ("Oxford BioMedica" or "the Group") (LSE:OXB), the leading gene and cell therapy group, today announced that the following grants under the Oxford BioMedica 2015 Long Term Incentive Plan (LTIP) were made by the Remuneration Committee to four Directors on 10 June 2015:

 


LTIP: number of shares granted

Total shares over which options are held (note 1)

Percentage of issued shares under option





John Dawson

2,749,282

24,433,209

0.95%

Paul Blake

1,887,567

3,996,942

0.16%

Peter Nolan

1,682,396

12,761,433

0.50%

Tim Watts

1,764,465

16,491,698

0.64%

 

Notes:

1. The total shares over which options are held including the grants described.

 

The grants are nil cost options and are subject to a three year holding period. They are exercisable from the third anniversary of the grant, subject to the satisfaction of a performance condition which was set out in the Company's 2014 Annual Report. 

 

The vesting criteria will be based on the average closing share price over the five business days preceding the date of award (9.7p). No vesting will occur if, over the three year vesting period, the compound growth rate of the share price falls below 15% pa growth (i.e. 52.1% over 3 years). At 15% pa growth over three years 25% of the award will vest and, if 25% pa growth is achieved over the three years (i.e. 95.3% over 3 years), 100% of the awards will vest with a linear increment between 25% and 100%.  

 

There will also be a performance underpin, such that the awards would only vest to the extent that the Remuneration Committee considers that the overall performance of the business across the period justifies it. Share price will also be averaged across a three month period to avoid rewarding for short term spikes in performance. Clawback and malus provisions will apply to the awards.

 

Tim Watts

Company Secretary,

Oxford BioMedica plc

11 June 2015

- Ends -

 

For further information, please contact:

 

 

Oxford BioMedica plc:

John Dawson, Chief Executive Officer

Tim Watts, Chief Financial Officer

 

Tel: +44 (0)1865 783 000

 

Consilium Strategic Communications

Mary-Jane Elliott/Matthew Neal/Chris Welsh/Laura Thornton

 

 

 

Tel: +44 (0)20 3709 5700

 

 

 

Notes for editors

 

About Oxford BioMedica®

Oxford BioMedica plc (LSE: OXB) is a leading gene and cell therapy Group with an unrivalled portfolio of gene therapy products in development and a platform of exclusive and pioneering technologies with which it designs, develops and manufactures unique gene-based medicines for some of world's largest pharmaceutical companies. Leveraging its proprietary LentiVector® IP and gene delivery system technology platform and unique tumour antigen (5T4), Oxford BioMedica is advancing its pipeline of seven gene therapy products addressing diseases for which there are currently no treatments or that are inadequately treated today, including ocular and central nervous system disorders. OXB Solutions, the Group's industry-leading manufacturing and development business, provides services to collaborators and partners working in gene and cell therapy, including Novartis and Immune Design Corp.  In addition, the Group has licenced products and IP to Sanofi, Pfizer, GlaxoSmithKline, MolMed, Sigma-Aldrich, Biogen Idec, Emergent BioSolutions and ImaginAb. Further information is available at www.oxfordbiomedica.co.uk  and www.oxbsolutions.co.uk.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 

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