Biome Technologies PLC Long Term Incentive Plan Second Vesting (3256D)
June 25 2019 - 3:17AM
UK Regulatory
TIDMBIOM
RNS Number : 3256D
Biome Technologies PLC
25 June 2019
25 June 2019
Biome Technologies plc
("Biome", "the Company" or "the Group")
Long Term Incentive Plan (the "2017 LTIP") Second Vesting
Biome Technologies plc, a leading bioplastics and radio
frequency technology business, announces that pursuant to the
Company's 2017 LTIP, the second vesting of options has
occurred.
The 2017 LTIP was announced on 21 December 2017 setting share
performance hurdles to achieve the vesting of options thereby
further aligning the interests of the Company's management with
Biome's shareholders. Details of the second vesting of the 2017
LTIP, which occurred on 10 June 2019, can be found below, with the
following options now having vested and are available to be
exercised under the terms of the rules of the scheme.
Name of Individual Options vested and Exercise price per
available for exercise share
Paul Mines (Director) 17,304 215 pence
------------------------- ---------------------
Declan Brown (Director) 8,075 215 pence
------------------------- ---------------------
Other Employees 10,382 215 pence
------------------------- ---------------------
Total 35,761
------------------------- ---------------------
The Company also announced on 21 December 2017 that an award had
been made to John Standen, subject to the same performance criteria
as the 2017 LTIP. Under this scheme no additional amount is payable
to Mr Standen in respect of the second vesting on 10 June 2019.
-Ends-
For further information please contact: Biome
Technologies plc
Paul Mines, Chief Executive Officer
Declan Brown, Group Finance Director
www.biometechnologiesplc.com Tel: +44 (0) 2380 867
100
Allenby Capital
David Hart/Alex Brearley (Nominated Adviser)
Kelly Gardiner (Broker)
www.allenbycapital.com Tel: +44 (0) 20 3328
5656
About Biome
Biome Technologies plc is an AIM listed, growth-orientated,
commercially driven technology group. Our strategy is founded on
building market-leading positions based on patented technology and
serving international customers in valuable market sectors. We have
chosen to do this by developing products in application areas where
the value-added pricing can be justified and that are not reliant
on government legislation. These products are driven by customer
requirements and are compatible with existing manufacturing
processes. They are market rather than technology-led.
The Group comprises two divisions, Biome Bioplastics Limited and
Stanelco RF Technologies Limited. Biome Bioplastics is a leading
developer of highly-functional, bio-based and biodegradable
plastics. The company's mission is to produce bioplastics that
challenge the dominance of oil-based polymers. Stanelco RF
Technologies designs, builds and services advanced radio frequency
(RF) systems. Dielectric and induction heating products are at the
core of a product offering that ranges from portable sealing
devices to large furnaces for the fibre optics markets.
In 2018, the Board adopted the following three high level KPIs
for the next three years to continue its ambitious momentum:
-- Compound revenue growth of 25% per annum across the Group and
40% compound revenue growth in the Bioplastics division
-- Diversify the Group's turnover by product and market to
ensure that no one product or end customer contributes more than
15% of revenues by 2020
-- Increase investment in the Group's next generation of
products by spending significantly more per annum on average than
the GBP0.3m per annum average spend over the previous strategic
objective cycle
www.biometechnologiesplc.com
www.biomebioplastics.com and www.thinkbioplastic.com
www.stanelcorftechnologies.com
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END
MSCMMGZVRKDGLZG
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