REG - Allergy Therapeutics - Launch of new Company Long Term Incentive Plan

Allergy TherapeuticsAnnouncement

04/07/2024 14:30

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RNS Number : 2131V  Allergy Therapeutics PLC  04 July 2024

 

Allergy Therapeutics plc

("Allergy Therapeutics" or "the Group")

 

Launch of new Company Long Term Incentive Plan

 

Grant of Options

 

Change of Name of Nominated Adviser and Broker

 

4 July 2024 Allergy Therapeutics (AIM: AGY), the fully integrated commercial
biotechnology company specialising in allergy vaccines, announces that on 26
June 2024 it adopted a new long-term incentive plan ("New LTIP"), with share
option awards to be made to key members of Allergy Therapeutics' management
team including certain of its persons discharging managerial responsibilities
("PDMRs").

 

The Group's Remuneration Committee adopted the New LTIP and has granted
options to encourage long-term value creation for the Company's shareholders,
and so that the individuals identified as key people to lead the business into
the future are appropriately incentivised in a manner that aligns with the
interests of the Group's stakeholders.

Vesting is conditional on the satisfaction of performance criteria over a
three year period. The vesting of any share options is subject to a share
price threshold. So long as this share price threshold is exceeded, vesting of
70 per cent. of the award is subject to EBITDA performance and vesting of 30
per cent. of the award is subject to regulatory performance targets.

The following awards have been made in accordance with the New LTIP:

 

 Name           Title                    Number of share options granted  Performance period              Vesting Date  Exercise price
 Manuel Llobet  Chief Executive Officer  9,650,663                        3 years commencing 1 July 2023  30 June 2026  £0.001
 Shaun Furlong  Chief Financial Officer  3,809,524                        3 years commencing 1 July 2023  30 June 2026  £0.001

 

The number of Ordinary Shares stated above is the maximum number that could be
issued to each PDMR upon full satisfaction of the performance conditions
attached to the awards.

 

The Committee will review the performance conditions at periodic intervals to
ensure they remain appropriate. As a result of any such review, the Committee
will retain discretion to amend the conditions where appropriate having regard
to overall Company performance and wider stakeholder experience.

 

Change of Name of Nominated Adviser and Broker

 

The Company also announces that its Nominated Adviser and Broker has changed
its name to Panmure Liberum Limited following completion of its own corporate
merger.

 

- ENDS -

 

For further information, please contact:

 

Allergy Therapeutics

Manuel Llobet, Chief Executive Officer

Shaun Furlong, Chief Financial Officer

+44 (0)1903 845 820

 

Panmure Liberum (Nominated Adviser and Broker)

Emma Earl, Will Goode, Freddy Crossley, Mark Rogers, Corporate Finance

Rupert Dearden, Corporate Broking

+44 (0)20 7886 2500

 

ICR Consilium

Mary-Jane Elliott / David Daley / Davide Salvi

+44 (0)20 3709 5700

allergytherapeutics@consilium-comms.com
(mailto:allergytherapeutics@consilium-comms.com)

 

 

Notes for editors:

 

About Allergy Therapeutics

Allergy Therapeutics is an international commercial biotechnology company,
headquartered in the UK, focussed on the treatment and diagnosis of allergic
disorders, including aluminium free immunotherapy vaccines that have the
potential to cure disease. The Group sells proprietary and third-party
products from its subsidiaries in nine major European countries and via
distribution agreements in an additional ten countries. For more information,
please see www.allergytherapeutics.com (http://www.allergytherapeutics.com) .

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them in
accordance with the Market Abuse Regulations

 1   Details of the persons discharging managerial responsibilities / person
     closely associated
 a)  Name                                                         1. Manuel Llobet

                                                                  2. Shaun Furlong
 2   Reason for the notification
 a)  Position/status                                              1.   Chief Executive Officer

                                                                  2.   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                                                         Allergy Therapeutics plc
 b)  LEI                                                          213800PQ7AHK7KGVOE23
 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 instrument  Ordinary shares of 0.1 pence each

     Identification code                                          GB00B02LCQ05
 b)  Nature of the transaction                                    Grant of options
 c)  Price(s) and volume(s)                                       Exercise Prices per share  Volumes
                                                                  1. £0.001                  1. 9,650,663

                                                                  2. £0.001                  2. 3,809,524

 d)  Aggregated information                                       N/A

     - Aggregated volume

     - Price
 e)  Date of the transaction                                      27 June 2024
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

27 June 2024

f)

Place of the transaction

Outside a trading venue

 

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