Feedback plc
Grant of Options and PDMR dealing
London, 23 February 2022: Feedback plc (AIM: FDBK, "Feedback" or the "Company"), the specialist clinical communication company, announces that it has granted a total of 162,692,640 options to subscribe for new ordinary shares in the Company under the Company's Non-tax-advantaged and EMI Share Option Schemes (together, the "Options") to a certain number of its directors and employees, as detailed below.
The Options are being issued to support staff retention and to further align overall reward with increasing shareholder value.
All Options are exercisable at a price of 0.7 pence per share, reflecting the price at which the Company last completed an equity fundraise in November 2021 and representing a premium of 3 per cent to the closing share price on the last trading day before this announcement.
145,237,200 Options granted to the Executive Directors and other persons discharging managerial responsibilities ("PDMRs") below (being 89 percent. of Options granted) will vest in three equal tranches over the next three financial years, conditional on achieving certain share price targets (based on a 60 calendar day volume weighted average share price) as follows:
· One-third will vest if the share price reaches at least 1.20p, during the period commencing 31/05/2022 and ending 31/05/2025;
· One-third will vest if the share price reaches at least 1.86p during the period commencing 31/05/2023 and ending 31/05/2025; and
· One-third will vest if the share price reaches at least 3.0p during the period commencing 31/05/2024 and ending 31/05/2025.
Options being granted to the Executive Directors and PDMRs which are subject to the share price performance conditions above:
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| Non tax-Advantaged Options
| EMI Options | Total options held (including existing options) |
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| Tom Oakley, CEO | 83,846,520 | - | 106,677,349 |
| Anesh Patel, CFO | 17,624,520 | 35,714,160 | 53,338,680 |
| Michael Hayball, CTO | - | 2,013,000 | 9,213,000 |
| Stephen Brown, Chief Regulatory & Compliance Officer | - | 2,013,000 | 9,213,000 |
| Stephen McAteer, COO | - | 2,013,000 | 4,013,000 |
| Nicolas Mayhew, Chief Sales & Marketing Officer | - | 2,013,000 | 4,013,000 |
7,855,440 EMI Options (with time-based vesting conditions only) were awarded to 10 employees, with one-third vesting on each of the first, second and third anniversaries of grant.
In addition, Rory Shaw, Non-Executive Chairman, has been granted 9,600,000 Non tax-Advantaged Options (taking the total number of share options held by him to 17,400,000), primarily for retention purposes. Alongside the Executive management team, Rory has key relationships with NHS bodies and Community Diagnostic Centres (CDC), potential customers for the Company's product suite. These Options have time-based vesting conditions only and are not linked to share price performance conditions, with one-third vesting on each of the first, second and third anniversaries of grant.
The Options are exercisable for a period of 5 years from the vesting date.
The Options represent in aggregate 6.1% of the Company's existing issued share capital.
Following the grant of the Options and taking into account existing options, the Company has a total of 217,516,909 options to subscribe for ordinary shares in the Company in issue, representing 8.2% of the Company's issued share capital at the date of this announcement.
The FCA notifications, made in accordance with the requirements of the EU Market Abuse Regulation, are appended below.
Further information on Feedback and its products can be found on the Company's website: https://fbkmed.com/feedback-plc/reports-and-presentations/
-Ends-
Enquiries:
| Feedback plc Tom Oakley, CEO Anesh Patel, CFO | +44 (0) 20 3997 7634 |
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| Panmure Gordon (UK) Limited (NOMAD and Broker) Emma Earl/Freddy Crossley (Corporate Finance) Rupert Dearden (Corporate Broking) | +44 (0)20 7886 2500 |
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| Walbrook PR Ltd | Tel: 020 7933 8780 or feedbackplc@walbrookpr.com |
| Paul McManus/Nick Rome/Nicholas Johnson | 07980 541 893 or 07748 325 236 or 07884 664 686 |
About Feedback
Feedback plc is a specialist clinical communications business, with a mission to improve the efficiency and quality of communications for frontline clinicians and hospitals with a key focus on building solutions that enhance access to high quality patient data.
Feedback has developed a toolkit of clinical communications apps. Its core, regulatory approved product is Bleepa, a revolutionary medical imaging app enabling remote and secure communications between frontline clinicians and teams. CareLocker is an evolutionary GDPR compliant patient-centric cloud architecture - its proprietary technology enables an easy route to creation and mobilisation of individual healthcare records. Bleepa Box is a specialist tool to enable image transfer from remote settings to the Bleepa platform over mobile networks.
The Company has a number of growth opportunities domestically and internationally across a range of markets including the NHS, the veterinary market and private healthcare providers and its highly scalable Software as a Service ("SaaS")-based revenue model is expected to provide increasing levels of visibility as the Company grows its customer base.
| 1
| Details of the person discharging managerial responsibilities / person closely associated
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| a)
| Name
| Rory Shaw | ||||
| 2
| Reason for the notification
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| a)
| Position/status
| PDMR - Non-Executive Chairman | ||||
| b)
| Initial notification /Amendment
| Initial | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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| a)
| Name
| Feedback plc | ||||
| b)
| LEI
| 213800UGOF2GT2U2RV90 | ||||
| 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
Identification code
| Non-tax-advantaged Options to subscribe for Ordinary Shares of 0.25p each
Identification code (ISIN) for Feedback plc ordinary shares: GB0003340550 | ||||
| b)
| Nature of the transaction
| Issue of options to subscribe for Ordinary Shares in consideration of payment of fees | ||||
| c)
| Price(s) and volume(s)
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| d)
| Aggregated information - Aggregated volume - Price |
N/A
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| e)
| Date of the transaction
| 23 February 2022
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| f)
| Place of the transaction | Outside a trading venue | ||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Tom Oakley | ||||
| 2
| Reason for the notification
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| a)
| Position/status
| PDMR - Chief Executive Officer | ||||
| b)
| Initial notification /Amendment
| Initial | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| Feedback plc | ||||
| b)
| LEI
| 213800UGOF2GT2U2RV90 | ||||
| 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
Identification code
| Non-tax-advantaged Options to subscribe for Ordinary Shares of 0.25p each
Identification code (ISIN) for Feedback plc ordinary shares: GB0003340550 | ||||
| b)
| Nature of the transaction
| Issue of options to subscribe for Ordinary Shares in consideration of payment of fees | ||||
| c)
| Price(s) and volume(s)
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| d)
| Aggregated information - Aggregated volume - Price |
N/A
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| e)
| Date of the transaction
| 23 February 2022
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| f)
| Place of the transaction | Outside a trading venue | ||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Anesh Patel | ||||
| 2
| Reason for the notification
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| a)
| Position/status
| PDMR - Chief Financial Officer | ||||
| b)
| Initial notification /Amendment
| Initial | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| Feedback plc | ||||
| b)
| LEI
| 213800UGOF2GT2U2RV90 | ||||
| 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
Identification code
| Non-tax-advantaged Options and EMI Options to subscribe for Ordinary Shares of 0.25p each
Identification code (ISIN) for Feedback plc ordinary shares: GB0003340550 | ||||
| b)
| Nature of the transaction
| Issue of options to subscribe for Ordinary Shares in consideration of payment of fees | ||||
| c)
| Price(s) and volume(s)
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| ||||
| d)
| Aggregated information - Aggregated volume - Price |
N/A
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| e)
| Date of the transaction
| 23 February 2022
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| f)
| Place of the transaction | Outside a trading venue | ||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Michael Hayball | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| PDMR - Director of Feedback Medical Limited | ||||
| b)
| Initial notification /Amendment
| Initial | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| Feedback plc | ||||
| b)
| LEI
| 213800UGOF2GT2U2RV90 | ||||
| 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
Identification code
| EMI Options to subscribe for Ordinary Shares of 0.25p each
Identification code (ISIN) for Feedback plc ordinary shares: GB0003340550 | ||||
| b)
| Nature of the transaction
| Issue of options to subscribe for Ordinary Shares in consideration of payment of fees | ||||
| c)
| Price(s) and volume(s)
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| ||||
| d)
| Aggregated information - Aggregated volume - Price |
N/A
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| e)
| Date of the transaction
| 23 February 2022
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| f)
| Place of the transaction | Outside a trading venue | ||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Stephen McAteer | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| PDMR - Director of Feedback Medical Limited | ||||
| b)
| Initial notification /Amendment
| Initial | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| Feedback plc | ||||
| b)
| LEI
| 213800UGOF2GT2U2RV90 | ||||
| 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
Identification code
| EMI Options to subscribe for Ordinary Shares of 0.25p each
Identification code (ISIN) for Feedback plc ordinary shares: GB0003340550 | ||||
| b)
| Nature of the transaction
| Issue of options to subscribe for Ordinary Shares in consideration of payment of fees | ||||
| c)
| Price(s) and volume(s)
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| ||||
| d)
| Aggregated information - Aggregated volume - Price |
N/A
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| e)
| Date of the transaction
| 23 February 2022
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| f)
| Place of the transaction | Outside a trading venue | ||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Nicolas Mayhew | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| PDMR - Director of Feedback Medical Limited | ||||
| b)
| Initial notification /Amendment
| Initial | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| Feedback plc | ||||
| b)
| LEI
| 213800UGOF2GT2U2RV90 | ||||
| 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
Identification code
| EMI Options to subscribe for Ordinary Shares of 0.25p each
Identification code (ISIN) for Feedback plc ordinary shares: GB0003340550 | ||||
| b)
| Nature of the transaction
| Issue of options to subscribe for Ordinary Shares in consideration of payment of fees | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information - Aggregated volume - Price |
N/A
| ||||
| e)
| Date of the transaction
| 23 February 2022
| ||||
| f)
| Place of the transaction | Outside a trading venue | ||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Stephen Brown | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| PDMR - Director of Feedback Medical Limited | ||||
| b)
| Initial notification /Amendment
| Initial | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| Feedback plc | ||||
| b)
| LEI
| 213800UGOF2GT2U2RV90 | ||||
| 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
Identification code
| EMI Options to subscribe for Ordinary Shares of 0.25p each
Identification code (ISIN) for Feedback plc ordinary shares: GB0003340550 | ||||
| b)
| Nature of the transaction
| Issue of options to subscribe for Ordinary Shares in consideration of payment of fees | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information - Aggregated volume - Price |
N/A
| ||||
| e)
| Date of the transaction
| 23 February 2022
| ||||
| f)
| Place of the transaction | Outside a trading venue | ||||
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