06 June 2024
Cambridge Nutritional Sciences PLC
("CNSL" or the "Company")
Grant of Options
CNSL, (AIM:CNSL) the specialist medical diagnostics company focused on promoting a personalised and functional approach to health and nutrition, announces that on 6 June 2024 the Board granted share options (the "Options") over its ordinary shares of 4.0 pence each ("Ordinary Shares") to the Chair, Carolyn Rand, Non-Executive Director, and to Jeremy Millard, Non-Executive Director.
Following this grant of Options, the Company has options in issue over 18,184,049 Ordinary Shares, representing approximately 8% per cent. of the Company's total issued share capital.
| Director | Number of Options granted on | Exercise Price | Total options held |
|
| 9,930,000 | 4.0p | 9,930,000 |
| Jeremy Millard | 450,000 | 4.0p | 783,334 |
Grant of Options
The Company has granted the Options to incentivise non-executive director ("NED") performance for the benefit of all Shareholders and to more effectively reward active NED engagement.
The Options are subject to time conditions (as set out below); good/bad leaver provisions; and being a director of the Company on the date of vesting.
Vesting criteria for Options are subject to time conditions as follows:
| Amount Vesting | Time Condition |
| 34 per cent. ("Tranche One") | On the first anniversary of 6 June 2024 |
| 33 per cent. ("Tranche Two") | On the second anniversary of 6 June 2024 |
| 33 per cent. ("Tranche Three") | On the third anniversary of 6 June 2024 |
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).
For further information, please contact:
| Cambridge Nutritional Sciences Plc Jag Grewal, Chief Executive Officer
| investors@cnsplc.com |
| Cavendish Capital Markets Limited Geoff Nash / Edward Whiley / George Dollemore (Corporate Finance) Nigel Birks / Harriet Ward (ECM) | Tel: 020 7220 0500 |
About Cambridge Nutritional Sciences Plc
Cambridge Nutritional Sciences Plc (AIM: CNSL) is the specialist medical diagnostics company focused on promoting a personalised and functional approach to health and nutrition.
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 | Carolyn Rand | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status | Chair, Non-Executive Chair | ||||
| b) | Initial notification/ | Initial Notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Cambridge Nutritional Sciences plc | ||||
| b) | LEI | 2138007U9P4BTZTYIR92 | ||||
| 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 | Options over Ordinary Shares of 4.0p each | ||||
| Identification code | ISIN: GB00B1VCP282 | |||||
| b) | Nature of | Grant of Options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | n/a | ||||
| e) | Date of the | 6 June 2024 | ||||
| f) | Place of the transactions | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Jeremy Millard | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status | Non-Executive Director | ||||
| b) | Initial notification/ | Initial Notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Cambridge Nutritional Sciences plc | ||||
| b) | LEI | 2138007U9P4BTZTYIR92 | ||||
| 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 | Options over Ordinary Shares of 4.0p each | ||||
| Identification code | ISIN: GB00B1VCP282 | |||||
| b) | Nature of | Grant of Options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | n/a | ||||
| e) | Date of the | 6 June 2024 | ||||
| f) | Place of the transactions | Outside a trading venue | ||||
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