TIDMLID
RNS Number : 9989L
LiDCO Group Plc
05 May 2020
LiDCO Group Plc
("LiDCO" or the "Company")
Grant of share options/PDMR dealing
LiDCO (AIM: LID), a leading supplier of hemodynamic monitoring
solutions, announces that on 29 April 2020, the Board has agreed to
grant options (the "Options") over ordinary shares of 0.5 pence
each in the Company ("Ordinary Shares") to Tim Hall, Chief
Financial Officer, as follows:
Earliest vesting Type of option Exercise Number of Percentage
date subject to price options granted of current
performance criteria issued share
capital
29 April 2023
(A) EMI 0.5 pence 1,000,000 0.41%
29 April 2024
(B) EMI 0.5 pence 1,000,000 0.41%
---------------- ----------- ----------------- --------------
Total 2,000,000 0.82%
----------------- --------------
Performance conditions attached to the Options are described
more fully in the notes below.
Prior to the grant of the above Options, Mr. Hall held options
over 2,000,000 Ordinary Shares. Following the grant of the Options,
Mr. Hall therefore now holds, in aggregate, options over 4,000,000
Ordinary Shares representing approximately 1.64 per cent. of the
current issued share capital of the Company.
Additionally, on 29 April 2020, the Board agreed to grant share
option to other key employees over a further 400,000 Ordinary
Shares.
Following these grants, the Company will have a total of
21,768,340 share options outstanding, representing approximately
8.92% of the existing issued share capital of the Company.
As previously stated in the Directors Remuneration Report of the
2019/20 Annual Report, the measurement period for several share
option grants issued to Mr Sassone, CEO, in April 2017 have been
amended and as such no further options are being granted to Mr
Sassone at this time.
Performance conditions attaching to the Options are as
follows:
For each of the (A) and (B) awards, the proportion of the
Options that vest depends on the average share price in the three
month period to and including the first date of the relevant
Exercise Window shown below (the "Average Share Price"). Provided
the Average Share Price meets or exceeds the minimum price shown,
then 15% of the options under that award become exercisable. If the
Average Share Price is between the minimum threshold and the
maximum vesting price, a straight-line sliding scale applies to
determine the vested proportion of that award.
Option Exercise Average Vesting proportion
Award Window Share Price: of award
(A) 29 April 2023 Equal to or greater 15% 100%
to 28 April than 8.00p at 8.00p at 12.00p
2025
-------------- -------------------- ---------- -----------
(B) 29 April 2024 Equal to or greater 15% 100%
to 28 April than 9.00p at 9.00p at 13.00p
2026
-------------- -------------------- ---------- -----------
Further information is disclosed in the table below in
accordance with the requirements of the EU Market Abuse
Regulation.
For further information, please contact:
LiDCO Group Plc www.lidco.com
Matt Sassone (CEO) Tel: +44 (0)20 7749 1500
Tim Hall (CFO)
N+1 Singer Tel: +44 (0)20 7496 3172
Aubrey Powell, George Tzimas (Corporate
Finance)
Tom Salvesen (Corporate Broking)
Walbrook PR Ltd Tel: 020 7933 8780 or lidco@walbrookpr.com
Paul McManus Mob: 07980 541 893
Lianne Cawthorne Mob: 07584 391 303
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Tim Hall
----------------------------------------- -----------------------------
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: LiDCO Group Plc
----------------------------------------- -----------------------------
b) LEI: 213800PYQTIUV6HIYL36
----------------------------------------- -----------------------------
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, Options over Ordinary Shares
type of instrument:
Identification code: GB0030546849
----------------------------------------- -----------------------------
b) Nature of the transaction: Grant of options
----------------------------------------- -----------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
0.50 pence 2,000,000
----------
----------------------------------------- -----------------------------
d) Aggregated information: N/A single transaction
* Aggregated volume:
* Price:
----------------------------------------- -----------------------------
e) Date of the transaction: 4 May 2020
----------------------------------------- -----------------------------
f) Place of the transaction: Outside a trading venue
----------------------------------------- -----------------------------
About LiDCO Group Plc ( www.lidco.com )
LiDCO is a supplier of non-invasive and minimally invasive
hemodynamic equipment to hospitals used to monitor the amount of
blood flowing around the body and ensure that vital organs are
adequately oxygenated. LiDCO's products facilitate the application
of hemodynamic optimisation protocols for high risk patients in
both critical care units and in the operating theatre.
Increasingly clinical studies have shown that the optimisation
of patients' hemodynamic status in high risk patients produces
better outcomes and reduced hospital stay. LiDCO's computer-based
technology, developed originally at St Thomas' Hospital in London,
has been shown to significantly reduce morbidity and complications,
length of stay and overall costs associated with major surgery.
In critical care, LiDCO's products have various in-built guided
clinical protocols such as an end expiratory occlusion test (EEOT)
and a tidal volume challenge (TVC), as a means to assess a
patient's fluid status. These methods have been referenced by key
opinion leaders as an important part of the treatment pathway for
ventilated patients with the Covid-19 coronavirus in critical
care.
Key Products:
LiDCOunity: a hemodynamic monitor that combines the full suite
of LiDCO technology (non-invasive, minimally invasive and
calibrated technologies) into one platform. Designed to have the
flexibility to adapt to a patient's changing acuity, the product
enables clinicians to seamlessly transition between non-invasive,
minimally invasive and calibrated hemodynamic monitoring.
LiDCOplus : a computer-based platform monitor used in the
Intensive Care Unit for real-time continuous display of hemodynamic
parameters including cardiac output, oxygen delivery and
fluid-volume responsiveness (PPV% and SVV%).
LiDCOrapid : a cardiac output monitor designed specifically for
use in the operating theatre for fluid and drug management. The
monitor enables anaesthetists to receive accurate and immediate
feedback on the patient's fluid and hemodynamic status - a key
measure of overall well-being before, during and after surgery. The
LiDCOrapid provides:
-- early and rapid warning of hemodynamic change to aid choice
of therapeutic route: fluid or drug
-- quantification of hemodynamic response guidance on effective
delivery of fluids to ensure the right amount at the right time
The software incorporated into LiDCOrapid allows the LiDCOrapid
monitor to co-display Medtronic's level of consciousness parameter
('BIS(TM') )* and add the convenience of CNSystem's continuous
non-invasive blood pressure monitoring ('CNAP')**. This addresses a
growing requirement for non-invasive monitoring solutions that are
more comprehensive and can effectively replace multiple single
parameter monitors.
LiDCOview : an easy-to-use graphical display of historical
LiDCOplus and LiDCOrapid hemodynamic data.
*BIS (TM) and Bispectral Index are trademarks of Medtronic
registered in the US and foreign countries.
**CNAP(TM) is a trademark of CNSystems Medizintechnik AG.
LiDCO monitors use single-patient disposables (sensors or
smartcards) which provide an ongoing revenue stream.
LiDCO Distribution Network :
LiDCO sells directly to hospitals in the UK and USA and through
a network of specialty critical care and anaesthesia distributors
in the rest of the world.
LiDCO's headquarters are in London and its shares are traded on
AIM.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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