Business
Award of Options under new LTIP Scheme
Award of Options under new LTIP Scheme.
About this update from Abingdon Health Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n Abingdon Health plc\n \n \n \n (\"Abingdon\" or \"the Company\")\n \n \n \n \n \n \n Award of Options under new LTIP Scheme\n \n \n \n \n \n \n \n York, U.K. 19 December 2022:\n \n \n Abingdon Health plc (AIM: ABDX), a leading international developer and manufacturer of high quality, rapid diagnostic tests, announces the establishment of a new Long Term Incentive Plan (\"LTIP\" or the \"Plan\") for certain directors and senior management in order to incentivise and encourage retention in a manner that aligns with the interests of the Company's shareholders. The new LTIP replaces the long term incentive plan established at the time of the Company's admission to AIM (\"Existing Options\") which has lapsed.\n \n \n \n \n \n \n New Long Term Incentive Plan\n \n \n \n \n \n \n Under the terms of the new LTIP, the Company has awarded share options (\"Options\") over a total of 4,119,285 ordinary shares of 0.025 pence each (\"Ordinary Shares\")\n to certain directors and senior management. There will be a three-year vesting period and options may be exercised at a price of 7 pence per Ordinary Share (being an 86 per cent. premium to the closing price on 16 December 2022). Vesting of the Options is conditional upon the business achieving certain revenue and adj. EBITDA performance criteria.\n The Options will become exercisable between 19 December 2025 and 19 December 2032.\n \n \n \n \n \n The following individuals (each a person discharging managerial responsibilities (\"PDMR\")) have been awarded options:\n \n \n \n \n \n \n \n \n \n \n \n \n PDMR\n \n \n \n \n \n \n Role\n \n \n \n \n \n \n No. of options awarded\n \n \n \n \n \n \n No. of Existing Options Lapsed\n \n \n \n \n \n \n \n Chris Yates\n \n \n \n \n Chief Executive Officer\n \n \n \n \n 1,285,714\n \n \n \n \n 390,625\n \n \n \n \n \n \n Melanie Ross\n \n \n \n \n Chief Financial Officer\n \n \n \n \n 914,286\n \n \n \n \n -\n \n \n \n \n \n \n Chris Hand\n \n \n \n \n Non-Executive Chairman\n \n \n \n \n 428,571\n \n \n \n \n -\n \n \n \n \n \n \n Mark Jones\n \n \n \n \n Chief Operating Officer\n \n \n \n \n 600,000\n \n \n \n \n -\n \n \n \n \n \n \n Nina Garrett\n \n \n \n \n R&D Director\n \n \n \n \n 515,000\n \n \n \n \n -\n \n \n \n \n \n \n Candice Vendetuolli\n \n \n \n \n Head of QARA\n \...