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RNS Number : 9784O

Lombard Medical Technologies PLC

26 September 2013

Lombard Medical Technologies PLC

("Lombard Medical" or the "Company")

Share Option Grant

London, UK, 26 September 2013 - Lombard Medical Technologies PLC (AIM:LMT), the specialist medical technology company focussed on innovative vascular products, announces that it has yesterday, under the Company's Share Option Plan (2005), granted 335,573 new share options over ordinary shares of 20p each in the Company, to Raymond Cohen, its Chairman. The options have an exercise price of 168 pence per share and represent 0.75% of the Company's issued shares, Raymond Cohen's total holding of share options in the Company.

The vesting of the share options will be subject to certain performance criteria that have been determined by the Company's Remuneration Committee to reflect the Company's current and future business plans and are based on the achievement by the Company of a majority of budgeted revenue. On achievement of the performance criteria, one third of the options will vest in April 2014, 2015 and 2016.

-Ends-

Enquiries:

 
 Lombard Medical Technologies PLC          Tel: 01235 750 800 
 Simon Hubbert, Chief Executive Officer 
 Ian Ardill, Chief Financial Officer 
 
 Canaccord Genuity Limited                 Tel: 020 7523 8000 
 Lucy Tilley / Henry Fitzgerald O'Connor 
  / Dr. Julian Feneley 
 
 FTI Consulting                            Tel: 020 7831 3113 
 Simon Conway / Susan Stuart / Victoria 
  Foster Mitchell

About Lombard Medical

Lombard Medical Technologies PLC (AIM: LMT), is a medical device company focused on device solutions for the $1.2 billion dollar per annum abdominal aortic aneurysm (AAA) repair market. AAAs are a balloon-like enlargement of the aorta which, if left untreated, may rupture and cause death. Approximately 4.5 million people are living with AAAs in the developed world and each year 600,000 new cases are diagnosed. The market for endovascular stent grafts for this application is expected to grow to $1.6 billion by 2015. The Company's lead product, Aorfix(TM), is an endovascular stent graft which has been specifically designed to solve the problems that exist in treating complex tortuous anatomy which is often present in advanced AAA disease. Aorfix(TM) is currently being commercialised in the EU, and has been submitted to the FDA for approval in the U.S.

The Company is headquartered in Oxfordshire, with operations in Ayrshire and Phoenix, USA.

Further background on the Company can be found at www.lombardmedical.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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