RNS Number : 9759A
Ondine Biomedical Inc.
26 January 2024
 

26 January 2024

ONDINE BIOMEDICAL INC.

("Ondine Biomedical", "Ondine" or the "Company")

Grant of Share Options

Canadian life sciences company, Ondine Biomedical Inc., (AIM: OBI) announces that on 25 January 2024 ("Grant Date") it awarded a total of 11,950,000 stock options ("Options") to subscribe for new common shares in the Company. This strategic move aligns with the Company's Option Plan, emphasizing the commitment to attracting, retaining, and inspiring key talent within its workforce, including employees, directors, advisory board members, and key consultants.

In the period since 30 June 2023, 4,355,000 options have naturally expired or been forfeited. Following the above grant of Options, Ondine Biomedical now has a total of 15,640,000 outstanding Options in issue, equivalent to 6.9% of the Company's current issued share capital.

The distribution of Options to Persons Discharging Managerial Responsibilities ("PDMR") is as follows:

PDMR

Position

Options granted

Exercise price

Total options now held

Carolyn Cross

Executive Director

2,000,000

9p

2,075,000

Nicolas Loebel

Executive Director

3,500,000

9p

3,575,000

Joseph P. Errico

Chief Financial Officer

3,000,000

9p

3,000,000

Jean Charest

Chairman

      40,000

9p

   140,000

Craig Tooman

Non-Executive Director

      25,000

9p

   175,000

Michael Farrar

Non-Executive Director

      25,000

9p

   175,000

Jean Duvall

Non-Executive Director

      25,000

9p

     75,000

Simon Sinclair

Chief Medical Officer

    150,000

9p

   200,000

Junaid Bajwa

Non-Executive Director

      25,000

9p

     75,000


The Options have an exercise price of 9p, being the share price at which new common shares were issued in connection with the Company's fundraising announced on 30 November 2023. The Options vest evenly over a period of 3 years from the Grant Date, with a third vesting on each of the three successive anniversaries of the Grant Date, and can be exercised for a period of five years from the Grant Date.

The FCA notifications in respect of the above Option grants, made in accordance with the requirements of the UK Market Abuse Regulation, are appended below.

Enquiries:

 

Ondine Biomedical Inc.       

 

Angelika Vance, Corporate Communications

+001 (604) 838 2702

 

 

Singer Capital Markets (Nominated Adviser and Joint Broker)

 

Aubrey Powell, Asha Chotai, Sam Butcher

+44 (0)20 7496 3000

 

 

RBC Capital Markets (Joint Broker)

 

Rupert Walford, Kathryn Deegan

+44 (0)20 7653 4000


 

Vane Percy & Roberts (Media Contact)


Simon Vane Percy, Amanda Bernard

+44 (0)77 1000 5910

 

About Ondine Biomedical Inc.

Ondine Biomedical Inc. is a Canadian life science company innovating in the field of photodisinfection therapies. Ondine has a pipeline of investigational products, based on its proprietary photodisinfection platform, in various stages of development. Ondine's nasal photodisinfection technology is approved in several jurisdictions under the brand name Steriwave®. It has been awarded the CE mark and, in the US, has been granted Qualified Infectious Disease Product designation and Fast Track status by the FDA. Products beyond nasal photodisinfection include therapies for a variety of medical indications such as chronic sinusitis, ventilator-associated pneumonia, burns, and other indications.

 

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.     Carolyn Cross

2.     Nicolas Loebel

3.     Joseph P. Errico

4.     Jean Charest

5.     Craig Tooman

6.     Mike Farrar

7.     Jean Duvall

8.     Simon Sinclair

9.     Junaid Bajwa

2. 

Reason for the Notification

a)

Position/status

1.     CEO (PDMR)

2.     President (PDMR)

3.     CFO (PDMR)

4.     Non-executive Chair (PDMR)

5.     Non-executive Director (PDMR)

6.     Non-executive Director (PDMR)

7.     Non-executive Director (PDMR)

8.     Chief Medical Officer (PDMR)

9.     Non-executive Director (PDMR)

b)

Initial notification/Amendment

Initial notification

3. 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Ondine Biomedical Inc.

b)

LEI

9845005B69E07CGF4A56

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

 

Options to subscribe for Common Shares

Identification code

ISIN: CA68234M2058

b)

Nature of the transaction

Grant of options to subscribe for common shares of no par value

c)

Price(s) and volume(s)

PDMR

Price(s)

Volume(s)

Caroyn Cross

Exercise price of 9p per share

 2,000,000

Nicolas Loebel

Exercise price of 9p per share

 3,500,000

JP Errico

Exercise price of 9p per share

 3,000,000

Jean Charest

Exercise price of 9p per share

      40,000

Craig Tooman

Exercise price of 9p per share

      25,000

Michael Farrar

Exercise price of 9p per share

      25,000

Jean Duvall

Exercise price of 9p per share

      25,000

Simon Sinclair

Exercise price of 9p per share

    150,000

Junaid Bajwa

Exercise price of 9p per share

      25,000

d)

Aggregated information:

·Aggregated volume

·Price

N/A

 

e)

Date of the transaction

25 January 2024

f)

Place of the transaction

Outside a trading venue

 

 

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