TIDMPHC
RNS Number : 7837V
Plant Health Care PLC
12 August 2022
The information communicated in this announcement contains
inside information for the purposes of Article 7 of Regulation
596/2014.
Plant Health Care plc
("Plant Health Care" or "the Company")
Grant of Options
Director/PDMR shareholding s
Plant Health Care, a leading provider of novel patent-protected
biological products to global agricultural markets, announce s that
on 11 August 2022 the Company awarded options to certain directors
and employees under the Company's 2017 Employee Share Option Plan
(the ' Plan ').
The Company has awarded options in respect of a total of 8.2
million ordinary shares in the Company (representing 2.7% of the
Company's current issued share capital) with an exercise price of
1p per share (the ' Options ') that will vest upon the earlier of:
(a) the date of a Change of Control; or (b) satisfaction of the
Performance-Based Requirement and in addition, for United States
employees, the Service-Based Requirement.
Performance-Based Requirement:
(i) In respect of 70% of the O ptions (rounded to the nearest
whole number) no option may be exercised until the date on which
the arithmetic mean closing price of the Company's shares over 30
consecutive trading dates after the date of grant has exceeded 17p
per share; and
(ii) In respect of the balance of the Options, no Options may be
exercised until the date on which the arithmetic mean closing price
of the Company's shares over 30 consecutive trading days after the
date of grant has exceeded 25p per share.
Service-Based Requirement: for all United States employees no O
ption shall be exercised before the two-year anniversary of the
date of grant.
The Options will expire after five years from the date of grant.
The vesting criteria of the Options can be modified at the
discretion of the Remuneration Committee of the Company.
Of the Options granted, the following awards have been made to
certain directors, being Chris Richards, Jeffrey Hovey and Jeffrey
Tweedy.
Name Position Number o f s hares s ubject
t o t he Option
Christopher Richards Chairman 2,000,000
================= ============================
Chief Executive
Jeffrey Tweedy Officer 3,000,000
================= ============================
Chief Financial
Jeffrey Hovey Officer 1,500,000
================= ============================
As advised previously, the Company notes the concern raised by
ISS in respect of the performance targets set on the vesting of the
LTIP awards already made to the Executive team. The Company is
looking to engage with a remuneration advisor to assist with
reviewing the LTIP in place, in particular with regards to the
performance criteria. However, the awards detailed in this
announcement were made in recognition of the new roles and
additional responsibilities taken on by those directors in June
2022 and, accordingly, reflect the current performance criteria.
Once the Company has completed its review of the LTIP and
associated performance criteria, any further changes will be
announced at the time of approval.
Bill Lewis, Chair of the Remuneration Committee, commented:
" The annual award of options to Management are, as in previous
years, linked to a sustained share price which seeks to continue to
align the incentives of senior management to shareholder value
."
Enquiries
Plant Health Care plc
Jeffrey Tweedy - Chief Executive Office
Jeffrey Hovey - Chief Financial Officer +1 919 926 1600
Cenkos Securities plc - Nomad and Broker
Neil McDonald / Pete Lynch +44 (0) 7866 384707
Company website: www.planthealthcare.com
The information set out below is provided in accordance with the
requirements of Article 19(3) of the EU Market Abuse Regulation No
596/2014.
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Dr Christopher Richards
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Chairman
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Plant Health Care plc
-------------------------------------------------------- -------------------------------------------------------
b) LEI
213800KBQPJZ2FM8QH27
-------------------------------------------------------- -------------------------------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of Options over Ordinary Shares of 1p each
instrument
Identification code GB00B 01JC540
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of 1p options u nder the 2017 Employee Share
Option Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1p 2,000,000
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price 2,000,000 ordinary shares of 1p per share par value
As above
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 11 August 2022
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Jeffrey Hovey
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Chief Financial Officer
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Plant Health Care plc
-------------------------------------------------------- -------------------------------------------------------
b) LEI
213800KBQPJZ2FM8QH27
-------------------------------------------------------- -------------------------------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of Options over Ordinary Shares of 1p each
instrument
Identification code GB00B 01JC540
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of 1p Options under the 2017 Employee Share
Option Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1p 1,500,000
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price 1,500,000 ordinary shares of 1p per share par value
As above
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 11 August 2022
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Jeffrey Tweedy
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Plant Health Care plc
-------------------------------------------------------- -------------------------------------------------------
b) LEI
213800KBQPJZ2FM8QH27
-------------------------------------------------------- -------------------------------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of Options over Ordinary Shares of 1p each
instrument
Identification code GB00B 01JC540
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of 1p options under the 2017 Employee Share
Option Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1p 3,000,000
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price 3,000,000 ordinary shares of 1p per share par value
As above
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 11 August 2022
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
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END
DSHSFDFUFEESESA
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