RNS Number : 6898X
Intelligent Ultrasound Group PLC
22 December 2023
 

Intelligent Ultrasound Group plc

("the Company")

 

Grant of Share Options

 

Intelligent Ultrasound Group plc (AIM: IUG), the ultrasound artificial intelligence (AI) software and simulation company, announces the grant of 2,649,015 share options to the Directors and 6,800,332 share options to other management and employees (together the "options") on 21 December 2023 at a price of 9.6 pence per share, representing the closing mid-market price on 20 December 2023, the date of approval by the Remuneration Committee.

Individual Director option grants

 

Director

New grant

Type

Stuart Gall

530,428

EMI

Stuart Gall

501,322

Non-EMI

Nicholas Sleep

450,297

Non-EMI

Nicholas Sleep

530,428

EMI

Helen Jones

334,409

Non-EMI

Helen Jones

302,131

EMI

 

Following the option grants above, the Directors hold the total number of share options as shown below:

 

Director

Number of options held

Stuart Gall

4,880,048

Nicholas Sleep

3,879,436

Helen Jones

2,298,806

 

11,058,490

% of share capital on fully diluted basis

3.1%

 

Vesting criteria for all options

The share options vest equally over three years i.e. one third on the first, second and third anniversary of issue, subject to the grantee's continued service with the Group and will remain exercisable at any point up until the tenth anniversary of the date of grant.

Number of shares in respect of which the Option shall vest

1/3 vest after 12 months 

1/3 vest after a further 12 months

1/3 vest after a further 12 months

Management and employee options

A total of 6,800,332 options have been issued to other management and employees. These option grants are under the Company's EMI scheme where the individual and the grant meets EMI criteria. Grants which do not qualify are under the same rules as the EMI scheme but will not benefit from EMI tax status.

The notification in Appendix 1 to this announcement, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

 

For further information, please contact:

 

Intelligent Ultrasound Group plc 

www.intelligentultrasound.com

Stuart Gall, CEO 

Tel: +44 (0)29 2075 6534 

Helen Jones, CFO




Cavendish Capital Markets Limited - Nominated Adviser and Broker

Giles Balleny/Dan Hodkinson (Corporate Finance)

Tel:? +44 (0)20 7220 0500

Michael Johnson/Julian Morse (Sales) 

Nigel Birks (ECM)




TB Cardew - PR Advisors

Ed Orlebar

Intelligentultrasound@tbcardew.com

Tel: +44 (0)7738 724630

Allison Connolly

                          Tel: +44 (0)7587 453955

Emma Pascoe-Watson

Tel: +44 (0)7774 620415



 

About Intelligent Ultrasound Group

 

Intelligent Ultrasound (AIM: IUG) is one of the world's leading 'classroom to clinic' ultrasound companies, specialising in real-time hi-fidelity virtual reality simulation for the ultrasound training market ('classroom') and artificial intelligence-based clinical image analysis software tools for the diagnostic medical ultrasound market ('clinic'). Based in Cardiff in the UK and Atlanta in the US, the Group has two revenue streams:

 

Simulation

 

Real-time hi-fidelity ultrasound education and training through simulation.  Our main products are the ScanTrainer obstetrics and gynaecology training simulator, the HeartWorks echocardiography training simulator, the BodyWorks Eve Point of Care and Emergency Medicine training simulator with Covid-19 module and the new BabyWorks Neonate and Paediatric training simulator. To date over 1,500 simulators have been sold to over 750 medical institutions around the world.

 

Clinical AI software

 

Deep learning-based algorithms to make ultrasound machines smarter and more accessible using our proprietary ScanNav ultrasound image analysis technology. Current products on the market utilising this technology are GE Healthcare's SonoLyst software that is incorporated in their Voluson Expert 22 and SWIFT ultrasound machines; ScanNav Anatomy PNB that simplifies ultrasound-guided needling by providing the user with real-time AI-based anatomy highlighting for a range of medical procedures; and NeedleTrainer that teaches real-time ultrasound-guided needling and incorporates ScanNav Anatomy PNB. 

 

www.intelligentultrasound.com

 

NOTE: ScanNav Anatomy PNB is CE approved and cleared for sale in the US by the FDA, but is not available for sale in any other territory requiring government approval for this type of product.

 

 

 

 

 

 

Appendix 1

 

The Company makes the following disclosures in accordance with article 19(3) of the Market Abuse Regulation:

 

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Stuart Gall

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)

Full name of the entity

Intelligent Ultrasound Group plc

b)

Legal entity identifier code

213800K4ZVWL4ZYQAZ70

4

Details of the transaction(s)

a)

Description of the financial instrument, type of instrument

Options over ordinary shares in Intelligent Ultrasound Group plc with a nominal value of 1 pence each

b)

Identification Code

ISIN: GB00BN791Q39

c)

Nature of the transaction

Grant of options over Ordinary Shares

d)

Currency

GBP - British pound

e)

Price(s) and Volume(s)

 

Price - 9.6 pence

Volume - 1,031,750

f)

Aggregated information

-       Price

-       Volume

-       Total

N/A

g)

Date of transaction

21 December 2023

h)

Place of transaction

Off market

 

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Nicholas Sleep

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)

Full name of the entity

Intelligent Ultrasound Group plc

b)

Legal entity identifier code

213800K4ZVWL4ZYQAZ70

4

Details of the transaction(s)

a)

Description of the financial instrument, type of instrument

Options over ordinary shares in Intelligent Ultrasound Group plc with a nominal value of 1 pence each

b)

Identification Code

ISIN: GB00BN791Q39

c)

Nature of the transaction

Grant of options over Ordinary Shares

d)

Currency

GBP - British pound

e)

Price(s) and Volume(s)

 

Price - 9.6 pence

Volume - 980,725

f)

Aggregated information

-       Price

-       Volume

-       Total

N/A

g)

Date of transaction

21 December 2023

h)

Place of transaction

Off market

 

 

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Helen Jones

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)

Full name of the entity

Intelligent Ultrasound Group plc

b)

Legal entity identifier code

213800K4ZVWL4ZYQAZ70

4

Details of the transaction(s)

a)

Description of the financial instrument, type of instrument

Options over ordinary shares in Intelligent Ultrasound Group plc with a nominal value of 1 pence each

b)

Identification Code

ISIN: GB00BN791Q39

c)

Nature of the transaction

Grant of options over Ordinary Shares

d)

Currency

GBP - British pound

e)

Price(s) and Volume(s)

 

Price - 9.6 pence

Volume - 636,540

f)

Aggregated information

-       Price

-       Volume

-       Total

N/A

g)

Date of transaction

21 December 2023

h)

Place of transaction

Off market

 

 

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