Itaconix PLC Grant of options (8894G)
June 01 2017 - 7:19AM
UK Regulatory
TIDMITX
RNS Number : 8894G
Itaconix PLC
01 June 2017
1 June 2017
Itaconix plc ("Itaconix" or "the Group")
Award under Long Term Incentive Plan
Itaconix (AIM: ITX) announces the grant of awards under the
Itaconix plc Long Term Incentive Plan ("LTIP") to its executive
directors Kevin Matthews and Robin Cridland.
The LTIP was adopted by the board of directors of Itaconix (the
"Board") on 29 June 2012 and its Remuneration Committee has
approved the following grants on 31 May 2017:
-- To the CEO Kevin Matthews a nil cost option over 1,402,340 ordinary shares
-- To the CFO Robin Cridland a nil cost option over 863,830 ordinary shares.
The vesting date of these awards is 31 May 2020, and they only
become exercisable if the following share price performance
conditions are met: 50% of the grant becomes exercisable if the
weighted average ordinary share price in the 180 day period ending
on the vesting date is GBP0.40 or above. Between weighted average
ordinary share prices of GBP0.40 and GBP0.55, vesting shall be
pro-rata and on a straight line basis between 50% and 100%. Below
GBP0.40 the grants are not exercisable and lapse in full. LTIP
awards with the same performance conditions were also granted to
senior management over 1,412,329 ordinary shares.
Also on 31 May 2017, the executive directors Kevin Matthews and
Robin Cridland surrendered the LTIP awards granted on 30 April 2015
over 567,568 and 349,550 ordinary shares respectively.
The notifications below, made in accordance with the
requirements of the EU Market Abuse Regulation, provide further
detail.
Ends
For further information please contact:
+44 (0) 1244 283
Company 500
Kevin Matthews / Rob Cridland
+44 (0) 207 496
N+1 Singer 3000
Richard Lindley / Liz Yong (Corporate
Finance)
Nick Owen (Corporate Broking)
About Itaconix
Itaconix is an AIM quoted company whose objective is to be a
leader in functional polymers that improve the safety, performance
or sustainability of its customers' products in the delivery and
controlled release of actives, surface modification and water
quality improvement for the Homecare & Industrial and Personal
Care & Consumer Healthcare markets.
www.itaconix.com
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ----------------------------------------------------
a) Name Kevin Matthews
--- ------------------ --------------------------------
2 Reason for the notification
--- ----------------------------------------------------
a) Position/status Chief Executive Officer
--- ------------------ --------------------------------
b) Initial Initial Notification
notification
/Amendment
--- ------------------ --------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ----------------------------------------------------
a) Name Itaconix plc
--- ------------------ --------------------------------
b) LEI 213800OKA3GOCK2ZA496
--- ------------------ --------------------------------
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 Ordinary shares of 1 pence each
of the financial
instrument,
type of GB00B84LVH87
instrument
Identification
code
--- ------------------ --------------------------------
b) Nature of Grant of options
the transaction
--- ------------------ --------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ---------- ----------
nil cost 1,402,340
--- ------------------ --------------------------------
d) Aggregated
information
- Aggregated N/A
volume
- Price
--- ------------------ --------------------------------
e) Date of 31 May 2017
the transaction
--- ------------------ --------------------------------
f) Place of Outside of trading venue
the transaction
--- ------------------ --------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ----------------------------------------------------
a) Name Robin Cridland
--- ------------------ --------------------------------
2 Reason for the notification
--- ----------------------------------------------------
a) Position/status Chief Financial Officer
--- ------------------ --------------------------------
b) Initial Initial Notification
notification
/Amendment
--- ------------------ --------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ----------------------------------------------------
a) Name Itaconix plc
--- ------------------ --------------------------------
b) LEI 213800OKA3GOCK2ZA496
--- ------------------ --------------------------------
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 Ordinary shares of 1 pence each
of the financial
instrument,
type of GB00B84LVH87
instrument
Identification
code
--- ------------------ --------------------------------
b) Nature of Grant of options
the transaction
--- ------------------ --------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ---------- ----------
nil cost 863,830
--- ------------------ --------------------------------
d) Aggregated
information
- Aggregated N/A
volume
- Price
--- ------------------ --------------------------------
e) Date of 31 May 2017
the transaction
--- ------------------ --------------------------------
f) Place of Outside of trading venue
the transaction
--- ------------------ --------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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