Allergy Therapeutics
plc
("Allergy
Therapeutics" or "the Group")
Grant of
Options
14
February 2025 Allergy Therapeutics
(AIM: AGY), the fully integrated commercial biotechnology company
specialising in allergy vaccines, announces that on 13 February
2025 it granted share option awards to key members of Allergy
Therapeutics' management team including certain of its persons
discharging managerial responsibilities ("PDMRs").
The Board has granted options
to encourage long-term value creation for the Company's
shareholders, and so that the individuals identified as key people
to lead the business into the future are appropriately incentivised
in a manner that aligns with the interests of the Group's
stakeholders.
Vesting is conditional on the
satisfaction of performance criteria over a three year period. The
vesting of any share options is subject to a share price threshold.
So long as this share price threshold is exceeded, vesting of 70
per cent. of the award is subject to EBITDA performance and vesting
of 30 per cent. of the award is subject to regulatory performance
targets.
The following awards have been made
in accordance with the Group LTIP:
|
Name
|
Title
|
Number of share options granted
|
Resultant number of share options held
|
Performance period
|
Vesting Date
|
Exercise price
|
Number of Ordinary Shares held
|
|
Manuel
Llobet
|
Chief Executive Officer
|
7,517,637
|
17,168,300
|
3 years commencing 1 July
2024
|
30 June 2027
|
£0.001
|
5,001,200
|
|
Shaun Furlong
|
Chief Financial Officer
|
3,405,573
|
7,215,097
|
3 years commencing 1 July
2024
|
30 June 2027
|
£0.001
|
1,507
|
The number of Ordinary Shares stated
above is the maximum number that could be issued to each PDMR upon
full satisfaction of the performance conditions attached to the
awards.
The Group's Remuneration Committee
will review the performance conditions at periodic intervals to
ensure they remain appropriate. As a result of any such review, the
Committee will retain discretion to amend the conditions where
appropriate having regard to overall Company performance and wider
stakeholder experience.
This announcement contains inside information for the purposes
of the retained UK version of the EU Market Abuse Regulation (EU)
596/2014 ("UK MAR").
- ENDS -
For
further information, please contact:
Allergy Therapeutics
Manuel Llobet, Chief Executive
Officer
Shaun Furlong, Chief Financial
Officer
+44 (0)1903 845 820
Cavendish Capital Markets Limited (Nominated Adviser and
Broker)
Geoff Nash/Giles Balleny/Seamus
Fricker/Rory Sale
Nigel Birks/Tamar Cranford Smith -
Sales
+44 (0)20 7220 0500
ICR
Healthcare
Mary-Jane Elliott / David Daley /
Davide Salvi
+44 (0)20 3709 5700
allergytherapeutics@icrhealthcare.com
Notes for editors:
About Allergy Therapeutics
Allergy Therapeutics is an
international commercial biotechnology company, headquartered in
the UK, focussed on the treatment and diagnosis of allergic
disorders, including aluminium free 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
includes vaccines for grass, tree, house dust mite and peanut. For
more information, please see www.allergytherapeutics.com.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them in accordance with the Market Abuse
Regulations
|
1
|
Details of the persons discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Manuel Llobet
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Executive Officer
|
|
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
|
213800PQ7AHK7KGVOE23
|
|
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
|
Ordinary shares of 0.1 pence
each
|
|
Identification code
|
GB00B02LCQ05
|
|
b)
|
Nature of the transaction
|
Grant of options
|
|
c)
|
Price(s) and volume(s)
|
|
Exercise Price per share
|
Volume
|
|
|
£0.001
|
7,517,637
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
See 4c) above
|
|
e)
|
Date of the transaction
|
06 February 2025
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the persons discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Shaun Furlong
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Financial Officer
|
|
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
|
213800PQ7AHK7KGVOE23
|
|
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
|
Ordinary shares of 0.1 pence
each
|
|
Identification code
|
GB00B02LCQ05
|
|
b)
|
Nature of the transaction
|
Grant of options
|
|
c)
|
Price(s) and volume(s)
|
|
Exercise Price per share
|
Volume
|
|
|
£0.001
|
3,405,573
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
See 4c) above
|
|
e)
|
Date of the transaction
|
06 February 2025
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
