Business
Grant of options
Grant of options.
About this update from Fusion Antibodies Plc
[{"type":"text","content":"\n \n \n \n \n \n Fusion Antibodies plc\n \n \n (\"Fusion\" or the \"Company\")\n \n \n \n \n \n Grant of options\n \n \n \n \n \n Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody discovery, engineering and supply for both therapeutic drug and diagnostic applications, announces that the Company has today granted 1,480,800 options (the \"Options\") over ordinary shares of 4 pence each in the Company (\"Ordinary Shares\") to certain Executive Directors and employees of the Company. T\n he\n Options were granted pursuant to the Fusion Antibodies EMI and Unapproved Employee Share Option Scheme (the \"Scheme\"), adopted by the Company on 11 December 2017.\n \n \n \n \n \n The Options have an exercise price of 47.50 pence per Option, being the closing mid-market price of an Ordinary Share on 14 September 2022, the day prior to grant.\n The Options will vest equally over a three-year period, with one third of the Options vesting on each anniversary following the grant date and subject to continuing employment only. Once vested, the Options can be exercised for a period of ten years from the grant date. \n \n \n \n \n \n 200,000 of the Options have been granted to the following Executive Directors of the Company:\n \n \n \n \n \n \n \n \n \n \n Name\n \n \n \n \n \n \n Number of Options granted\n \n \n \n \n \n \n Existing options over Ordinary Shares held\n \n \n \n \n \n \n Total Options over Ordinary Shares held following grant\n \n \n \n \n \n \n \n Richard Buick, CSO\n \n \n \n \n 100,000\n \n \n \n \n 180,000\n \n \n \n \n 280,000\n \n \n \n \n \n \n James Fair, CFO\n \n \n \n \n 100,000\n \n \n \n \n 275,000\n \n \n \n \n 375,000\n \n \n \n \n \n \n \n \n \n Following the grant of the Options, the Company has options in issue over a total of 2,542,883 Ordinary Shares, representing 9.77 per cent. of the Company's issued share capital. 2,439,133 of the options have been issued pursuant to the Scheme and the balance of 103,750 options have been issued outside of the scheme.\n \n \n \n \n \n \n Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1\n \n \n \n \n \n \n Details of the person discharging manage...