Circassia Group plc
("Circassia" or the "Company")
Grant of options
Oxford, UK - 20 May 2022: Circassia Group plc (LSE: CIR) announces that it has granted nominal value options to the Executive Directors over a total of 3,698,277 new ordinary shares in the Company ("Ordinary Shares") under the 2022 Performance Share Plan (the "Options").
The Options will vest on the third anniversary of the date of grant (the "Vesting Date") and are exercisable until the tenth anniversary of the date of grant, subject also to the closing mid-market price of an Ordinary Share either: (a) reaching or exceeding a specified price over a period of 30 consecutive dealing days prior to the Vesting Date or (b) a liquidity event occurring above the specified price (in each case, the "Vesting Level").
33 per cent. of the Options will vest in the event that a Vesting Level of 50p is attained, 66 per cent. of the Options will vest in the event that a Vesting Level of 60p is attained, with 100 per cent. vesting in the event that a Vesting Level of 70p is attained.
The Option awards to each Executive Director are shown below and additional disclosure in relation to PDMR dealing is included at the end of this announcement.
| Name | Number of shares subject to award |
| Ian Johnson | 1,331,897 |
| Jonathan Emms | 1,331,897 |
| Michael Roller | 1,034,483 |
Contacts
| Circassia Ian Johnson, Executive Chairman Michael Roller, Chief Financial Officer |
+44 (0) 1865 405560
|
| Singer Capital Markets (Nominated Adviser & Broker) Aubrey Powell / Jen Boorer
| +44 (0) 20 7496 3000 |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | 1. Ian Johnson 2. Jonathan Emms 3. Michael Roller | ||||
| 2. | Reason for the notification | |||||
| a. | Position/status | 1. Executive Chairman 2. Chief Operating Officer 3. 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 | Circassia Group plc | ||||
| b. | LEI | 2138006YAT138TOGA556 | ||||
| 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 | Options over Ordinary Shares of 0.08p each.
GB00BJVD3B28 ISIN for the Ordinary shares | ||||
| b. | Nature of the transaction | Grant of share options under the 2022 Performance Share Plan over Ordinary Shares in Circassia
| ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price
|
n/a
| ||||
| e. | Date of the transaction | 19 May 2022 | ||||
| f. | Place of the transaction | Outside a trading venue
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