Abingdon Health plc
("Abingdon" or "the Company")
Award of Options under LTIP
York, U.K. 24 October 2023: Abingdon Health plc (AIM: ABDX), a leading international developer and manufacturer of high quality, rapid diagnostic tests, announces that, under the terms of the existing Long Term Incentive Plan established in December 2022 ("LTIP" or the "Plan"), the Company has awarded share options ("Options") over a total of 2,386,238 ordinary shares of 0.025 pence each ("Ordinary Shares") to certain directors and senior management, in order to incentivise and encourage retention in a manner that aligns with the interests of the Company's shareholders.
The Options are nil cost and will vest over a three-year vesting period. Vesting of the Options is conditional upon the business achieving certain challenging revenue, adj. EBITDA and total shareholder return criteria. The Options will become exercisable between 24 October 2026 and 24 October 2033.
The following directors and members of the senior management team (each a person discharging managerial responsibilities ("PDMR")) have been awarded options:
| PDMR | Role | No. of new Options awarded under the LTIP | No. of existing Options under the LTIP | Total number of Options under the LTIP
|
| Chris Yates | Chief Executive Officer | 850,459 | 1,285,714 | 2,136,173 |
| Chris Hand | Non-Executive Chairman | 283,486 | 428,571 | 712,057 |
| Mark Jones | Chief Operating Officer | 401,376 | 600,000 | 1,001,376 |
| Nina Garrett | Chief Technical Officer | 337,156 | 515,000 | 852,156 |
| Candice Vendetuolli | Head of QARA | 183,486 | 285,714 | 469,200 |
| Natalie Thrush | Head of HR | 68,807 | 90,000 | 158,807 |
| Liam Currivan | Head of Sales & Marketing | 261,468 | - | 261,468 |
As a result of these changes, the Company now has outstanding options over 5,719,162 Ordinary Shares equal to approximately 4.7 per cent. of the Company's issued share capital.
Enquiries:
| Abingdon Health plc | ||
| Chris Yates, Chief Executive Officer | Via Walbrook PR | |
| Chris Hand, Non-Executive Chairman |
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| Singer Capital Markets (Sole Broker and Nominated Adviser) | Tel: +44 (0)20 7496 3000 | |
| Peter Steel, Alex Bond, Jalini Kalaravy |
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| Walbrook PR Limited | Tel: +44 (0)20 7933 8780 or abingdon@walbrookpr.com | |
| Paul McManus / Phillip Marriage Alice Woodings | Mob: +44 (0)7980 541 893 / +44 (0)7867 984 082 +44 (0)7407 804 654 | |
About Abingdon Health plc
Abingdon Health is a leading lateral flow contract research (CRO) and contract development and manufacturing organisation ("CDMO") offering its services to an international customer base across industry sectors that include clinical, animal health, plant health, and environmental testing. Abingdon Health has the internal capabilities to take projects from initial concept through to routine and large-scale manufacturing; from "idea to commercial success."
The Company's CDMO division offers product development, regulatory support, technology transfer and manufacturing services for customers looking to develop new assays or transfer existing laboratory-based assays to a lateral flow format. Abingdon Health aims to support the increase in need for rapid results across many industries and locations and produces lateral flow tests in areas such as infectious disease, clinical testing including companion diagnostics, animal health and environmental testing. Faster access to results allows for rapid decision making, targeted intervention and can support better outcomes.
Abingdon Health's Abingdon Simply Test? range of self-tests is an ecommerce platform that offers a range of self-tests to empowers consumers to manage their own health and wellbeing. The Abingdon Simply Test? ecommerce site offers consumers a range of information to support them in making informed decisions on the tests available. In addition, the site provides Abingdon's contract services customers with a potential route to market for self-tests. The Abingdon Simply Test range is also sold through international distributors and through other channels in the UK and Ireland such as pharmacy chains.
Founded in 2008, Abingdon Health is headquartered in York, England.
For more information visit: www.abingdonhealth.com
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name | Chris Yates | |||
| 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
| Abingdon Health plc | |||
| b)
| LEI
| 213800XFI4WV3FBILO20
| |||
| 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 0.025 pence each
| |||
| | | ||||
| Identification code | GB00BLF79J41 | ||||
| | | ||||
| b)
| Nature of the transaction
| Award of LTIP Options
| |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | Nil-cost | 850,459 | | |
| | | | | | |
| d)
| Aggregated information | N/A single transaction | |||
| | | ||||
| - Aggregated volume | | ||||
| | | ||||
| - Price | | ||||
| | | ||||
| e)
| Date of the transaction
| 23rd October 2023 | |||
| f)
| Place of the transaction
| Outside a trading venue | |||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name | Dr Chris Hand
| |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Non-Executive Chairman | |||
| b)
| Initial notification /Amendment
| Initial notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| Abingdon Health plc | |||
| b)
| LEI
| 213800XFI4WV3FBILO20
| |||
| 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 0.025 pence each
| |||
| | | ||||
| Identification code | GB00BLF79J41 | ||||
| | | ||||
| b)
| Nature of the transaction
| Award of LTIP Options
| |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | Nil cost | 283,486 | | |
| | | | | | |
| d)
| Aggregated information | N/A single transaction | |||
| | | ||||
| - Aggregated volume | | ||||
| | | ||||
| - Price | | ||||
| | | ||||
| e)
| Date of the transaction
| 23rd October 2023 | |||
| f)
| Place of the transaction
| Outside a trading venue | |||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name | Mark Jones | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Chief Operating Officer | |||
| b)
| Initial notification /Amendment
| Initial notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| Abingdon Health plc | |||
| b)
| LEI
| 213800XFI4WV3FBILO20
| |||
| 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 0.025 pence each
| |||
| | | ||||
| Identification code | GB00BLF79J41 | ||||
| | | ||||
| b)
| Nature of the transaction
| Award of LTIP Options
| |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | Nil cost | 401,376 | | |
| | | | | | |
| d)
| Aggregated information | N/A single transaction | |||
| | | ||||
| - Aggregated volume | | ||||
| | | ||||
| - Price | | ||||
| | | ||||
| e)
| Date of the transaction
| 23rd October 2023 | |||
| f)
| Place of the transaction
| Outside a trading venue | |||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name | Nina Garrett | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Chief Technical Officer | |||
| b)
| Initial notification /Amendment
| Initial notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| Abingdon Health plc | |||
| b)
| LEI
| 213800XFI4WV3FBILO20
| |||
| 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 0.025 pence each
| |||
| | | ||||
| Identification code | GB00BLF79J41 | ||||
| | | ||||
| b)
| Nature of the transaction
| Award of LTIP Options
| |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | Nil cost | 337,156 | | |
| | | | | | |
| d)
| Aggregated information | N/A single transaction | |||
| | | ||||
| - Aggregated volume | | ||||
| | | ||||
| - Price | | ||||
| | | ||||
| e)
| Date of the transaction
| 23rd October 2023 | |||
| f)
| Place of the transaction
| Outside a trading venue | |||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name | Candice Vendetuolli | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Head of QARA | |||
| b)
| Initial notification /Amendment
| Initial notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| Abingdon Health plc | |||
| b)
| LEI
| 213800XFI4WV3FBILO20
| |||
| 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 0.025 pence each
| |||
| | | ||||
| Identification code | GB00BLF79J41 | ||||
| | | ||||
| b)
| Nature of the transaction
| Award of LTIP Options
| |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | Nil cost | 183,486 | | |
| | | | | | |
| d)
| Aggregated information | N/A single transaction | |||
| | | ||||
| - Aggregated volume | | ||||
| | | ||||
| - Price | | ||||
| | | ||||
| e)
| Date of the transaction
| 23rd October 2023 | |||
| f)
| Place of the transaction
| Outside a trading venue | |||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name | Natalie Thrush | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Head of HR | |||
| b)
| Initial notification /Amendment
| Initial notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| Abingdon Health plc | |||
| b)
| LEI
| 213800XFI4WV3FBILO20
| |||
| 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 0.025 pence each
| |||
| | | ||||
| Identification code | GB00BLF79J41 | ||||
| | | ||||
| b)
| Nature of the transaction
| Award of LTIP Options
| |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | Nil cost | 68,807 | | |
| | | | | | |
| d)
| Aggregated information | N/A single transaction | |||
| | | ||||
| - Aggregated volume | | ||||
| | | ||||
| - Price | | ||||
| | | ||||
| e)
| Date of the transaction
| 23rd October 2023 | |||
| f)
| Place of the transaction
| Outside a trading venue | |||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name | Liam Currivan | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Head of Sales & Marketing | |||
| b)
| Initial notification /Amendment
| Initial notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| Abingdon Health plc | |||
| b)
| LEI
| 213800XFI4WV3FBILO20
| |||
| 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 0.025 pence each
| |||
| | | ||||
| Identification code | GB00BLF79J41 | ||||
| | | ||||
| b)
| Nature of the transaction
| Award of LTIP Options
| |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | Nil cost | 261,468 | | |
| | | | | | |
| d)
| Aggregated information | N/A single transaction | |||
| | | ||||
| - Aggregated volume | | ||||
| | | ||||
| - Price | | ||||
| | | ||||
| e)
| Date of the transaction
| 23rd October 2023 | |||
| f)
| Place of the transaction
| Outside a trading venue | |||
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