Business
Grant of Share Options
Grant of Share Options.
About this update from Rua Life Sciences Plc
[{"type":"text","content":"\n \n \n 13 December 2022\n \n \n \n \n \n RUA Life Sciences Plc\n \n \n (\"RUA Life Sciences\", the \"Company\" or the \"Group\")\n \n \n Grant of EMI Share Options\n \n \n \n \n \n \n \n RUA Life Sciences, the holding company of a group of medical device businesses focused on the exploitation of the patented long-term implantable biostable polymer, Elast-EonTM, announces that it has granted, in aggregate, 240,000\n share options over ordinary shares of 0.05 (\"Ordinary Shares\") (the \"Options\") to executive Directors of the Group, as detailed below.\n \n \n \n \n \n 120,000 Options have been awarded to each of Lachlan Smith, Chief Financial Officer, and Iain Anthony, Director of Clinical and Regulatory Affairs and a board director of the Company. The Options are issued under the Company's EMI Share Option Plan as summarised in Part IV of the Company's circular dated 22 May 2018 and approved by shareholders at the Company's general meeting on 8 June 2018 (the \"Scheme\").\n \n \n \n \n \n The exercise price of the Options is 44.5 pence per share, representing the closing mid-market price per Ordinary Share on the day preceding the release of this announcement.\n \n \n \n \n \n The key vesting terms are that the options may not be exercised before the third anniversary of grant. In addition, performance conditions apply such that 50% of the Options may only be exercised if the Company has received regulatory approval for at least one medical device and the company continues to exploit one such device. The performance condition for the balance of the Options is based on total shareholder return with full vesting achieved at 50% annualised return and a minimum of the median performance of the constituents of the FTSE AIM index. If the Option holder ceases to be a director or employee of the Company as appropriate after the relevant vesting date, the Options lapse 90 days after cessation unless the Board resolves to allow exercise within that period.\n \n \n \n \n \n Including the new 240,000 Options, the Company has outstanding awards over 2,280,603 Ordinary Shares, representing approximately 10.3% of the Company's current issued share capital. \n \n \n \n \n \n \n \n \n For further information contact:\n \n \n \n \n \n RUA ...