Result of AGM
RNS & Investor News
Grant of Options
17 July 2018
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skin care, announces the Company's Remuneration Committee has proposed a grant of options under the Company's approved EMI Scheme ("the Scheme"), to certain directors and employees.
|Director||Number of options||Exercise price|
Under the rules of the Scheme the participants have up to 30 days from the date of offer, 13 July 2018, to complete the requisite documentation after which the Options will automatically lapse. Once the documentation has been received by the Company and approved by the board the option grant will become effective ("the Effective Date"). The options may be exercised up to 10 years from the Effective Date.
The options have performance criteria attached to them which includes a doubling in the share price and significant revenue targets. Option holders can only purchase and/or sell shares once these conditions have been met. This ensures a continued focus on commercial revenues and shareholder value creation.
A further announcement will be made confirming the Effective Date.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 and the person who arranged for release of this announcement on behalf of the Company was Stephen O'Hara, Chief Executive.
Stephen O'Hara, CEO of OptiBiotix, commented: "The ability to attract and retain key staff who deliver to performance targets which build shareholder value is important to OptiBiotix' continued success. The granting of share options helps OptiBiotix compete with the remuneration packages offered by larger corporates and incentivises the team to focus both effort and activity on rapidly growing revenues and building shareholder value. These options are offered to staff do not become exercisable (i.e. sellable) until they achieve significant performance targets which if achieved will create substantive shareholder value".
For further information, please contact:
|OptiBiotix Health Plc
Stephen O'Hara, Chief Executive
Contact via Walbrook below
|Cairn Financial Advisers LLP||Tel: 020 7213 0880|
|Liam Murray / Jo Turner|
|finnCap (Broker)||Tel: 020 7220 0500|
|Adrian Hargrave / Scott Mathieson / Kate Bannatyne (Corporate Finance)|
|Abigail Wayne (Corporate Broking)|
|Walbrook PR Ltd
|Tel: 020 7933 8780 or [email protected]
Mob: 07876 741 001
About OptiBiotix - www.optibiotix.com
OptiBiotix was formed in March 2012 to develop compounds which modify the human microbiome - the collective genome of the microbes in the body - to prevent and manage human disease.
The aim of OptiBiotix is to discover and develop microbial strains, compounds and formulations, which modulate the human microbiome and can be used as food ingredients and supplements or active compounds for the prevention and management of human metabolic diseases, examples of which include obesity, cholesterol and lipid distribution and diabetes.
OptiBiotix has established a pipeline of microbiome modulators that can impact on lipid and cholesterol management, energy harvest and appetite suppression. The development pipeline is fuelled by its proprietary OptiScreen® and OptiBiotic® platform technologies designed to identify metabolic pathways and compounds that impact on human physiology and bring potential health benefits.
OptiBiotix Health secures significant exclusive licence agreement for OptiBiome
Stephen O'Hara | 01 Apr 2020