TIDMLID
RNS Number : 3007I
LiDCO Group Plc
10 December 2020
LiDCO Group Plc
("LiDCO" or the "Company")
Director / PDMR Shareholdings
LiDCO (AIM: LID), a leading supplier of hemodynamic monitoring
solutions, makes the following announcement in respect of certain
dealings in the Company's shares carried out by certain directors
on 8 December 2020.
Exercise of certain share options
On 8 December 2020, the Company announced that the recommended
cash offer made by Masimo LHC Limited ("Masimo") for the entire
issued and to be issued share capital of LiDCO (the "Offer") had
become unconditional in all respects. On the Offer becoming
unconditional in all respects, certain Enterprise Management
Incentive options ("EMI Options") granted under the Company's Share
Option Plan over ordinary shares of 0.5 pence in the capital of the
Company ("Shares") became exercisable, to the extent vested at such
date.
The following directors have each submitted exercise
instructions to the Company in respect of the EMI Options shown
against their name below, and the relevant number of Shares have
been issued and allotted to them in connection with such
exercise:
Name of Date of Date of exercise Exercise price Resulting
PDMR grant per Share number of
Shares
11 April
Matt Sassone 2017 8 December 2020 0.5 pence 2,200,000
-------------- ---------- ------------------ ---------------- -----------
9 April
Tim Hall 2019 8 December 2020 0.5 pence 2,000,000
---------- ------------------ ---------------- -----------
29 April
2020 8 December 2020 0.5 pence 1,000,000
---------- ------------------ ------------------------------- -----------
29 April
2020 8 December 2020 0.5 pence 787,500
---------- ------------------ ------------------------------- -----------
EMI Options were exercised by other members of staff resulting
in a further 3,568,533 Shares being issued and allotted. Admission
of the 9,556,033 Shares arising from the exercise of EMI Options
has been satisfied via the Company's block listing, application for
which was announced on 26 November 2020.
The Shares arising from the exercise of EMI Options were issued
on 10 December 2020 and immediately following their issue, the
directors and other members of staff each sold all of their Shares
to Masimo in accordance with their irrevocable commitments to do so
in connection with the Offer.
Cash cancellation of certain share options
On the Offer becoming unconditional in all respects, certain
non-tax-qualifying options ("Non-Qualifying Options") granted under
the Company's Share Option Plan over Shares became exercisable, to
the extent vested at such date.
Matt Sassone has agreed with Masimo to surrender the
Non-Qualifying Options shown in the table below, in return for a
cash cancellation payment made to him by Masimo of the "see-through
value" of the Non-Qualifying Options (i.e. the aggregate value of
the resulting Shares that he could have received by exercising his
Non-Qualifying Options and selling them at the Offer price, less
the aggregate cost of such exercise (being 0.5 pence per
Share)):
Name of PDMR Date of grant Date of cash Number of "See-through
cancellation shares under value" of Non-Qualifying
Non-Qualifying Option
Option
Matt Sassone 20 April 8 December 919,250 GBP105,713.75
2018 2020
-------------- -------------- ---------------- --------------------------
9 April 2019 8 December 2,000,000 GBP230,000.00
2020
-------------- -------------- ---------------- --------------------------
Non-Qualifying Options held by other members of staff over
2,365,038 shares were also surrendered in return for cash
cancellation payments from Masimo with a total "see-through value"
of GBP153,748.
Total voting rights and Rule 2.9 update
Following the exercise of EMI Options described above, the
Company will have 253,730,941 Shares in issue, each carrying one
voting right. There are no shares held in Treasury. The total
number of voting rights in LiDCO is therefore 253,730,941. This
number may be used by shareholders as the denominator for the
calculation by which they may determine if they are required to
notify their interest in, or a change in their interest in, LiDCO
under the Disclosure and Transparency Rules or under Rule 8 of the
Takeover Code.
Following the exercise of EMI Options and the cash cancellation
of certain Non-Qualifying Options as described above, there are no
other in-the-money options over Shares which are capable of
exercise.
This announcement is made in accordance with Article 19 of the
EU Market Abuse Regulation 596/2014 ("MAR"). Additional MAR
disclosures regarding PDMR dealings are included below.
For further information:
LiDCO Tel: +44 20 7749 1500
Peter Grant (Non-Executive Chairman)
Matt Sassone (Chief Executive Officer)
Tim Hall (Chief Financial Officer)
Smith Square Partners - Financial Adviser Tel: +44 20 3696 7260
to LiDCO
John Craven
Matt Alexander
N+1 Singer - Nominated Adviser and Broker Tel: +44 20 7496 3600
to LiDCO
Aubrey Powell
George Tzimas
Disclosure requirements of the Code
Under Rule 8.3(a) of the Code, any person who is interested in
one percent or more of any class of relevant securities of an
offeree company or of any securities exchange offeror (being any
offeror other than an offeror in respect of which it has been
announced that its offer is, or is likely to be, solely in cash)
must make an Opening Position Disclosure following the commencement
of the offer period and, if later, following the announcement in
which any securities exchange offeror is first identified. An
Opening Position Disclosure must contain details of the person's
interests and short positions in, and rights to subscribe for, any
relevant securities of each of (i) the offeree company and (ii) any
securities exchange offeror(s). An Opening Position Disclosure by a
person to whom Rule 8.3(a) applies must be made by no later than
3.30 pm (London time) on the 10th Business Day following the
commencement of the Offer Period and, if appropriate, by no later
than 3.30 pm (London time) on the 10th Business Day following the
announcement in which any securities exchange offeror is first
identified. Relevant persons who deal in the relevant securities of
the offeree company or of a securities exchange offeror prior to
the deadline for making an Opening Position Disclosure must instead
make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes,
interested in one percent or more of any class of relevant
securities of the offeree company or of any securities exchange
offeror must make a Dealing Disclosure if the person deals in any
relevant securities of the offeree company or of any securities
exchange offeror. A Dealing Disclosure must contain details of the
dealing concerned and of the person's interests and short positions
in, and rights to subscribe for, any relevant securities of each of
(i) the offeree company and (ii) any securities exchange
offeror(s), save to the extent that these details have previously
been disclosed under Rule 8. A Dealing Disclosure by a person to
whom Rule 8.3(b) applies must be made by no later than 3.30 pm
(London time) on the Business Day following the date of the
relevant dealing.
If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire or control an
interest in relevant securities of an offeree company or a
securities exchange offeror, they will be deemed to be a single
person for the purpose of Rule 8.3.
1. Details of the person discharging managerial responsibilities/
person closely associated
------------------------------------------------------------------------
a) Name Matt Sassone
---------------------- ------------------------------------------------
2. Reason for the notification
------------------------------------------------------------------------
a) Position/status Chief Executive Officer
---------------------- ------------------------------------------------
b) Initial notification/ Initial Notification
Amendment
---------------------- ------------------------------------------------
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; (iv) each place where
transactions have been conducted
------------------------------------------------------------------------
a) Description Ordinary shares of GBP0.005 each ("Shares")
of the financial
instrument,
type of instrument
------------------------------------------------
Identification ISIN: GB0030546849
code
---------------------- ------------------------------------------------
b) Nature of Exercise of Enterprise Management Incentive
the transaction option granted on 11 April 2017 over 2,200,000
Shares
---------------------- ------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) GBP11,000 2,200,000
----------
---------------------- ------------------------------------------------
d) Aggregated Not applicable - single transaction
information
Aggregated
volume
Price
---------------------- ------------------------------------------------
e) Date of the 8 December 2020
transaction
---------------------- ------------------------------------------------
f) Place of the Outside a trading venue
transaction
---------------------- ------------------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; (iv) each place where
transactions have been conducted
------------------------------------------------------------------------
a) Description Ordinary shares of GBP0.005 each ("Shares")
of the financial
instrument,
type of instrument
------------------------------------------------
Identification ISIN: GB0030546849
code
---------------------- ------------------------------------------------
b) Nature of Sale of 2,200,000 Shares resulting from
the transaction the exercise of an Enterprise Management
Incentive Option
---------------------- ------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) GBP264,000 2,200,000
----------
---------------------- ------------------------------------------------
d) Aggregated Not applicable - single transaction
information
Aggregated
volume
Price
---------------------- ------------------------------------------------
e) Date of the 10 December 2020
transaction
---------------------- ------------------------------------------------
f) Place of the London Stock Exchange, AIM (XLON)
transaction
---------------------- ------------------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; (iv) each place where
transactions have been conducted
------------------------------------------------------------------------
a) Description Ordinary shares of GBP0.005 each ("Shares")
of the financial
instrument,
type of instrument
------------------------------------------------
Identification ISIN: GB0030546849
code
---------------------- ------------------------------------------------
b) Nature of (1) Cash cancellation of a non-qualifying
the transaction option granted on 20 April 2018 over 919,250
Shares
(2) Cash cancellation of a non-qualifying
option granted on 9 April 2019 over 2,000,000
Shares
---------------------- ------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) GBP105,713.75 919,250
----------
GBP230,000.00 2,000,000
----------
---------------------- ------------------------------------------------
d) Aggregated Price(s) Volume(s)
information GBP335,713.75 2,919,250
Aggregated ----------
volume
Price
---------------------- ------------------------------------------------
e) Date of the 8 December 2020
transaction
---------------------- ------------------------------------------------
f) Place of the Outside a trading venue
transaction
---------------------- ------------------------------------------------
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/ Initial Notification
Amendment
---------------------- --------------------------------------------
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; (iv) each place where
transactions have been conducted
--------------------------------------------------------------------
a) Description Ordinary shares of GBP0.005 each ("Shares")
of the financial
instrument,
type of instrument
--------------------------------------------
Identification ISIN: GB0030546849
code
---------------------- --------------------------------------------
b) Nature of (1) Exercise of an Enterprise Management
the transaction Incentive option granted on 9 April 2019
over 2,000,000 Shares
(2) Exercise of an Enterprise Management
Incentive option granted on 29 April 2020
over 1,000,000 Shares
(3) Exercise of an Enterprise Management
Incentive option granted on 29 April 2020
over 787,500 Shares
---------------------- --------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) GBP10,000.00 2,000,000
----------
GBP5,000.00 1,000,000
----------
GBP3,937.50 787,500
----------
---------------------- --------------------------------------------
d) Aggregated Price(s) Volume(s)
information GBP18,937.50 3,787,500
Aggregated ----------
volume
Price
---------------------- --------------------------------------------
e) Date of the 8 December 2020
transaction
---------------------- --------------------------------------------
f) Place of the Outside a trading venue
transaction
---------------------- --------------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; (iv) each place where
transactions have been conducted
--------------------------------------------------------------------
a) Description Ordinary shares of GBP0.005 each ("Shares")
of the financial
instrument,
type of instrument
--------------------------------------------
Identification ISIN: GB0030546849
code
---------------------- --------------------------------------------
b) Nature of Sale of Shares resulting from the exercise
the transaction of an Enterprise Management Incentive
Option
---------------------- --------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) GBP454,500.00 3,787,500
----------
---------------------- --------------------------------------------
d) Aggregated Not applicable - single transaction
information
Aggregated
volume
Price
---------------------- --------------------------------------------
e) Date of the 10 December 2020
transaction
---------------------- --------------------------------------------
f) Place of the London Stock Exchange, AIM (XLON)
transaction
---------------------- --------------------------------------------
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END
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