4basebio Plc - Employee Long Term Incentive Plan and Issue of Equity

PR Newswire

 

18 July 2024

 

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4basebio PLC

("4basebio" or the "Company")

 

Employee Long Term Incentive Plan and Issue of Equity

 

Cambridge, UK, 18 July 2024 - 4basebio PLC (AIM: 4BB), an innovation-led provider of novel synthetic DNA products and a non-viral, thermostable nucleic acid delivery platform announces that it has awarded 5,520 ordinary shares of EUR€1.00 each in the Company (“EBT Shares”) to the Employees Benefit Trust (“EBT”), operated by Fiduchi Trustees (UK) Limited at £15.60 per ordinary share, being the closing mid-market price on 9 July 2024.  

 

The EBT, which has been established as part of the employee long-term incentive plan, is a discretionary trust for the benefit of employees of the Company. On a six monthly basis, employees eligible for the scheme will be awarded new ordinary shares to the value of approximately £1,800 each which will be held by the EBT on behalf of the employees and will be subject to vesting criteria. Awards of shares will be calculated by reference to the mid-market closing price on the day of the award and will be rounded to the nearest whole share.

 

This is a delayed allocation from the 1 February 2024, the next allocation will take place 1 August 2024 and the market will be updated at that time. The senior management of the Company will not be included in this programme.

 

Following the settlement of the award of the EBT Shares, the EBT will hold a total of 5,520 shares in the Company, equivalent to 0.043 per cent. of the Company’s issued share capital, representing awards to 48 eligible employees.

 

Issue of Equity and Admission Total Voting Rights

 

The EBT Shares will be fully paid and will rank pari passu in all respects with the existing ordinary shares of the Company, including, without limitation, the right to receive all dividends and other distributions declared, made or paid after the date of issue.

 

Application has been made for the EBT Shares to be admitted to trading on AIM (“Admission”). Admission and settlement of the EBT Shares is expected to take place at 8.00 a.m. on 19 July 2024.

 

Following Admission, the total number of ordinary shares in issue will be 12,810,728. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares with voting rights will be 12,810,728. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 as amended by regulation 11 of the market abuse (amendment) (EU Exit) regulations 2019/310.

For further enquiries, please contact:

4basebio PLC

Heikki Lanckriet                                     

+44 (0)12 2396 7943

 

 

Nominated Adviser        

Cairn Financial Advisers LLP

Jo Tuner / Sandy Jamieson

 

+44 (0)20 7213 0880

 

 

Broker    

Cavendish Capital Markets Limited

Geoff Nash / Charlie Beeson / Nigel Birks

+44 (0)20 7220 0500

 

 

 

Lionsgate Communications (Media Enquiries)

Jonathan Charles

+44 (0)77 91892509
 

 

 

Notes to Editors

 

About 4basebio

4basebio (AIM: 4BB) is an innovation driven life biotechnology company focused on accelerating the development of advanced therapy medicinal products (ATMPs) through its high-performance synthetic DNA products and non-viral, cell targeting nucleic acid delivery platform. The Company’s objective is to become a market leader in the manufacture and supply of high-quality synthetic DNA products for research, therapeutic and pharmacological use as well as development of target specific non-viral vectors for the efficient delivery of payloads in patients.

Forward-looking statements

This announcement may contain certain statements about the future outlook for 4basebio.  Although the directors believe their expectations are based on reasonable assumptions, any statements about future outlook may be influenced by factors that could cause actual outcomes and results to be materially different.

 




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