TIDMNIPT
RNS Number : 3621U
Premaitha Health PLC
12 July 2018
Premaitha Health plc
("Premaitha" or the "Group")
Share option awards
Manchester, UK - 12 July 2018: Premaitha Health plc (AIM: NIPT),
a leading international molecular diagnostics group, announces a
number of share option awards in light of recent Board changes.
The Company has today issued 19,400,000 options over Ordinary
Shares of 0.1p under the Company's Enterprise Management Incentive
(EMI) and unapproved share option schemes to a number of Executives
to reflect recent management changes.
In addition to the above, the Company has identified an
administrative error which occurred in the re-issue of 9,651,407
options in April 2015, and a further 2,145,000 options issued in
October 2017. These 11,796,407 options have been cancelled and
reissued with identical terms.
Certain directors of the Company received options as part of the
above grant and reissue.
Options granted 2014 and 2017 Total options
11 July 2018 EMI Options cancelled now granted
& reissued
Lyn Rees 10,000,000 0 10,000,000
---------------- ----------------------- --------------
Keng Hsu 3,300,000 0 3,550,000
---------------- ----------------------- --------------
Dr Stephen Little 1,700,000 2,500,000 13,755,984
---------------- ----------------------- --------------
Dr Bill Chang 400,000 0 700,000
---------------- ----------------------- --------------
Barry Hextall 4,000,000 0 5,000,000
---------------- ----------------------- --------------
Other 0 9,296,407 20,500,767
---------------- ----------------------- --------------
Total 19,400,000 11,796,407 53,506,751
---------------- ----------------------- --------------
The options are exercisable in three tranches over three
financial years and are subject to certain performance conditions.
The options awarded on 11 July 2018 are exercisable up to 10 July
2028, at a price of 7.75 pence per share.
Following the issue of these options, and taking into account
lapsed options and those cancelled and reissued, the Company has
53,506,751 shares under option and a further 98,511,560 shares
under warrant. The issued share capital of the Company comprises
386,843,523 Ordinary Shares of 0.1p each.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For more information, please contact:
Premaitha Health PLC Tel: +44 (0)161
Lyn Rees, Chief Executive Officer 667 1053
Barry Hextall, Chief Financial Officer
Joanne Cross, Head of Marketing
investors@premaitha.com
Cairn Financial Advisers LLP (NOMAD) Tel: +44 (0)20 7213
Liam Murray / James Caithie 0880
finnCap (Broker) Tel: +44 (0)20 7220
Adrian Hargrave / Scott Mathieson (Corporate 0500
Finance)
Andrew Burdis / Abigail Wayne (Corporate Broking)
Vigo Communications Tel: +44 (0)20 7390
Ben Simons / Fiona Henson / Antonia Pollock 0238
premaitha@vigocomms.com
About Premaitha
Premaitha is an international molecular diagnostics group which
uses the latest advances in DNA analysis technology to develop
safer, faster and regulatory approved genetic screening tests.
The Group's current primary focus is on non-invasive prenatal
tests (NIPT) for pregnant women - an emerging, multi-billion dollar
global market - although the Group intends to expand its product
range into other areas of clinical genetics.
Premaitha's first product, the IONA(R) test was launched in 2015
as the first CE-IVD NIPT test in Europe. It enables laboratories
and healthcare practitioners to offer a complete CE-marked NIPT
system in-house. The IONA(R) test is performed on a maternal blood
sample - which contains traces of fetal DNA - and estimates the
risk of a fetus being affected with Down's syndrome or other
genetic conditions.
Unlike existing prenatal screening methods, due to its high
level of accuracy, the IONA(R) test can significantly reduce the
number of women subjected to unnecessary invasive follow up
diagnostic procedures, such as amniocentesis, which are costly,
resource intensive and carry a risk of miscarriage.
In March 2017, Premaitha acquired Yourgene Bioscience, a
specialist next generation sequencing and bioinformatics company
based in Taiwan, with its own NIPT screening solution that operates
on the same Thermo Fisher next-generation sequencing platform as
Premaitha's IONA(R) test. Yourgene brings significant benefits to
the Group through expanded market access in Asia - the world's
fastest growing NIPT market - as well as opportunities for
cross-selling and the ability to jointly develop expanded test
content both within NIPT and beyond.
From May 2018, the Group will trade as Yourgene Health outside
of Europe (but remaining as Yourgene Bioscience in Taiwan)
reflecting the increased scope of the business in other areas of
clinical genetics further to reproductive health; but will maintain
the Premaitha Health brand within Europe.
Premaitha is headquartered in Manchester, England, with Yourgene
offices in Taipei and Singapore. Its shares trade on the AIM market
of the London Stock Exchange (AIM: NIPT). For further information,
please visit www.premaitha.com. Follow us on twitter
@PremaithaHealth.
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