Business
Issue of LTIP Options and Share Options
Issue of LTIP Options and Share Options.
About this update from Cellbxhealth Plc
[{"type":"text","content":"\n\n\n\n\n\nFor immediate release\n\n\n21 March 2025\n\n\n\n\n \nANGLE plc (\"the Company\")\n \nIssue of LTIP Options and Share Options\n \n \nANGLE plc (AIM: AGL; OTCQX: ANPCY), a world-leading liquid biopsy company, announces that, under the Remuneration Policy approved by the shareholders at the Annual General Meeting on 11 July 2024 (\"the Remuneration Policy\"), the Remuneration Committee has approved the grant under the Long-Term Incentive Plan (LTIP) of options (the \"LTIP Options\") over a maximum of 12,000,000 ordinary shares of £0.10 (\"Ordinary Shares\"), subject to the performance conditions set out below, to the Company's executive directors. The Remuneration Committee has also approved the issue of up to 13,800,000 share options under its existing share option plans to staff (the \"Staff Share Options\"). \n \nShare options are issued to align the interest of employees with shareholders and help motivate, reward and retain staff. The allocation of LTIP Options and Staff Share Options approved by the Remuneration Committee also takes into account that, for the third consecutive year, no bonuses for executives and staff were awarded in order to help conserve cash and extend the Company's cash runway. While a staff share option award was made in 2024, the allocation for executive directors reflects a catch-up award for 2024 as well as a 2025 award following the agreement to waive cash bonus entitlements for both 2023 and 2024 operating years. \n \nFollowing the issue of these options, the Company will have outstanding options over a total of up to 51,369,480 Ordinary Shares, representing approximately 13.7% of its issued and to be issued share capital, which is within the Remuneration Policy approved limit of up to 16%.\n \nThe exercise price for the Staff Share Options is 10.00 pence per Ordinary Share, being 2.6% above the Company's closing mid-market share price of 9.75 pence per Ordinary Share on 20 March 2025, being the latest practicable date prior to this announcement. The Staff Share Options are subject to certain service and/or performance conditions over a three-year period.\n \nThe LTIP Options have performance conditions as set out below, a performance period of three years and an additional holding period of two years. Subject to the rules of the LT...