TIDMHCM
RNS Number : 7864T
Hutchison China Meditech Limited
29 March 2021
Grant of Awards under Long Term Incentive Plan and Share Options
under Share Option Scheme
Hong Kong, Shanghai, & Florham Park, NJ: Monday , March 29 ,
2021: Hutchison China MediTech Limited ("HUTCHMED") (Nasdaq/AIM:
HCM) announces that on March 26, 2021 , it granted conditional
awards ("LTIP Awards") under the Long Term Incentive Plan adopted
by HUTCHMED in 2015 ("LTIP") and share options under the Share
Option Scheme adopted by HUTCHMED in 2015 as refreshed in April
2020 (the "Share Option Scheme") .
1. Performance-related LTIP Award for the HUTCHMED Financial
Year 2021 ("Performance LTIP") - award based on a maximum cash
amount, which amount is determined by the achievement of
performance targets for the financial year ending 31 December 2021.
The performance targets will be determined by the Remuneration
Committee of HUTCHMED based on the strategic objectives of
HUTCHMED.
The Shares, to be purchased by the Trustee following
determination of the cash amount based on actual achievement of
performance targets, will then be held by the Trustee until the
underlying LTIP Awards are vested. Vesting will occur two business
days after the date of announcement of the annual results of
HUTCHMED for the financial year ending December 31, 2023. Vesting
will also depend upon the continued employment of the award holder
with the HUTCHMED group and will otherwise be at the discretion of
the Board of Directors of HUTCHMED.
HUTCHMED has granted the following LTIP Awards for the
Performance LTIP to the following PDMRs:
Award Holder Maximum amount for the Performance LTIP
------------------------------------------------------------------ ---------------------------------------
Mr Christian Hogg (Executive Director and Chief Executive Officer) US$ 1,616,538
Mr Johnny Cheng (Executive Director and Chief Financial Officer) US$ 657,211
Dr Weiguo Su (Executive D irector and Chief Scientific Officer) US$ 1,622,123
An additional 585 employees of HUTCHMED and its subsidiaries
have simultaneously been granted LTIP Awards under the Performance
LTIP.
2. Share Option Scheme
HUTCHMED granted share options under its Share Option Scheme to
147 employees to subscribe for a total of 8,279,900 Ordinary Shares
represented by 1,655,980 American Depositary Shares ("ADSs") (each
equating to five Ordinary Shares) subject to the acceptance of the
grantee. Details of such share options granted prescribed are as
follows:
Date of grant : March 26, 2021
Exercise price of share options granted : US$27.94 per ADS
Number of share options granted : 8, 279 , 9 00 represented by 1, 655 , 980 ADSs (five share
options shall entitle the holder
thereof to subscribe for one ADS)
Closing market price of ADSs on the date of grant : US$27.66 per ADS
Validity period of the share options : From March 26, 2021 to March 25, 2031
Among the share options granted, a total of 1,391,800 share
options represented by 278,360 ADSs were granted to Mr Christian
Hogg, Dr Weiguo Su and Mr Johnny Cheng (Executive Directors of the
Company), being persons discharging managerial responsibility under
the EU Market Abuse Regulation as follows:-
Grantee Number of share options granted
Mr Christian Hogg (Executive Director and Chief Executive 868,900 Ordinary Shares represented by 173,780 ADSs
Officer)
Mr Johnny Cheng (Executive Director and Chief Financial 240,500 Ordinary Shares represented by 48,100 ADSs
Officer)
Dr Weiguo Su (Executive Director and Chief Scientific 282,400 Ordinary Shares represented by 56,480 ADSs
Officer)
The notification set out below is provided in accordance with
the requirements of the EU Market Abuse Regulation.
(a) Mr Christian Hogg
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Mr Christian Hogg
------------------------------------------------------- -----------------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------------------------------------
a) Position/status Executive Director and 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 Hutchison China MediTech Limited
------------------------------------------------------- -----------------------------------------------------
b) LEI 2138006X34YDQ6OBYE79
------------------------------------------------------- -----------------------------------------------------
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 Option over American Depositary Share (each
instrument equating to five Ordinary Shares of US$0.10)
Identification code
Option over American Depositary Share with ADS
ISIN: US44842L1035
------------------------------------------------------- -----------------------------------------------------
b) Nature of the transaction Grant of options in respect of 868,900 Ordinary
Shares represented by 173,780 ADSs under the
Share Option Scheme.
The share options granted are exercisable subject
to a vesting schedule of 25% on each of
the first, second, third and fourth anniversaries
of the effective date of grant.
------------------------------------------------------- -----------------------------------------------------
Price(s) Volume(s)
c) Price(s) and volume(s) Nil 173,780
-------------------
------------------------------------------------------- -----------------------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
------------------------------------------------------- -----------------------------------------------------
e) Date of the transaction 2021-03-26
------------------------------------------------------- -----------------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------------------------- -----------------------------------------------------
(b) M r Johnny Cheng
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Mr Johnny Cheng
------------------------------------------------------- -----------------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------------------------------------
a) Position/status Executive Director and 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 Hutchison China MediTech Limited
------------------------------------------------------- -----------------------------------------------------
b) LEI 2138006X34YDQ6OBYE79
------------------------------------------------------- -----------------------------------------------------
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 Option over American Depositary Share (each
instrument equating to five Ordinary Shares of US$0.10)
Identification code
Option over American Depositary Share with ADS
ISIN: US44842L1035
------------------------------------------------------- -----------------------------------------------------
b) Nature of the transaction Grant of options in respect of 240,500 Ordinary
Shares represented by 48,100 ADSs under the
Share Option Scheme.
The share options granted are exercisable subject
to a vesting schedule of 25% on each of
the first, second, third and fourth anniversaries
of the effective date of grant.
------------------------------------------------------- -----------------------------------------------------
Price(s) Volume(s)
c) Price(s) and volume(s) Nil 48,100
------------------
------------------------------------------------------- -----------------------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
------------------------------------------------------- -----------------------------------------------------
e) Date of the transaction 2021-03-26
------------------------------------------------------- -----------------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------------------------- -----------------------------------------------------
(c) Dr Weiguo Su
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Dr Weiguo Su
------------------------------------------------------- -----------------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------------------------------------
a) Position/status Executive Director and Chief Scientific Officer
------------------------------------------------------- -----------------------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------------------------------- -----------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--------------------------------------------------------------------------------------------------------------
a) Name Hutchison China MediTech Limited
------------------------------------------------------- -----------------------------------------------------
b) LEI 2138006X34YDQ6OBYE79
------------------------------------------------------- -----------------------------------------------------
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 Option over American Depositary Share (each
instrument equating to five Ordinary Shares of US$0.10)
Identification code
Option over American Depositary Share with ADS
ISIN: US44842L1035
------------------------------------------------------- -----------------------------------------------------
b) Nature of the transaction Grant of options in respect of 282,400 Ordinary
Shares represented by 56,480 ADSs under the
Share Option Scheme.
The share options granted are exercisable subject
to a vesting schedule of 25% on each of
the first, second, third and fourth anniversaries
of the effective date of grant.
------------------------------------------------------- -----------------------------------------------------
Price(s) Volume(s)
c) Price(s) and volume(s) Nil 56,480
------------------
------------------------------------------------------- -----------------------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
------------------------------------------------------- -----------------------------------------------------
e) Date of the transaction 2021-03-26
------------------------------------------------------- -----------------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------------------------- -----------------------------------------------------
About HUTCHMED
HUTCHMED (Nasdaq/AIM: HCM) is an innovative, commercial-stage,
biopharmaceutical company committed, over the past twenty years, to
the discovery and global development of targeted therapies and
immunotherapies for the treatment of cancer and immunological
diseases. It has advanced ten cancer drug candidates from discovery
into clinical studies around the world and has an extensive
commercial infrastructure in its home market of China. For more
information, please visit: www.hutch-med.com .
Forward - Looking Statements
This announcement contains forward-looking statements within the
meaning of the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements involve risks and uncertainties. Existing and
prospective investors are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
hereof. For further discussion of these and other risks, see
HUTCHMED's filings with the U.S. Securities and Exchange Commission
and on AIM. HUTCHMED undertakes no obligation to update or revise
the information contained in this announcement, whether as a result
of new information, future events or circumstances or
otherwise.
CONTACTS
Investor Enquiries
Mark Lee, Senior Vice President +852 2121 8200
Annie Cheng, Vice President +1 (973) 567 3786
Media Enquiries
Americas - Brad Miles, Solebury Trout +1 (917) 570 7340 (Mobile)
bmiles@troutgroup.com
Europe - Ben Atwell / Alex Shaw, FTI Consulting +44 20 3727 1030 / +44 7771 913 902 (Mobile) / +44 7779
545 055 (Mobile)
HUTCHMED@fticonsulting.com
Asia - Joseph Chi Lo / Zhou Yi, Brunswick +852 9850 5033 (Mobile) / +852 9783 6894 (Mobile)
HUTCHMED@brunswickgroup.com
Nominated Advisor
Freddy Crossley / Atholl Tweedie, Panmure Gordon (UK)
Limited +44 (20) 7886 2500
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END
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