EKF Diagnostics Holdings PLC Cancellation of share options (0676J)
June 26 2017 - 2:00AM
UK Regulatory
TIDMEKF
RNS Number : 0676J
EKF Diagnostics Holdings PLC
26 June 2017
EKF Diagnostics Holdings plc
("EKF", the "Company")
Cancellation of share options
EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed
point-of-care business, announces that 21,614,766 share options
over ordinary shares of 1 penny each (the "Ordinary Shares")
granted to certain directors, PDMRs, employees and the former
Chairman of the Company (the "Options") have been cancelled at the
election of those holding the options (the "Optionholders") in
return for the payment of a one-off cash sum.
Details of the cancellation of the Options are set out
below:
PDMR Role Number of Cash payment
Options (GBP)
being surrendered
----------------- ------------------------ ------------------- -------------
Julian Baines CEO 5,127,383 354,348
----------------- ------------------------ ------------------- -------------
Richard Evans COO and CFO 4,260,000 294,826
----------------- ------------------------ ------------------- -------------
Steven Wray Head of Sales EMEA 825,000 61,801
----------------- ------------------------ ------------------- -------------
Gilbert Mejia Head of Sales Americas 800,000 60,522
----------------- ------------------------ ------------------- -------------
Martyn Lewis Head of Marketing 800,000 61,551
----------------- ------------------------ ------------------- -------------
Peter Coyne Head of Operations 800,000 61,551
----------------- ------------------------ ------------------- -------------
General Manager,
Ed Hitchler EKF USA 800,000 59,914
----------------- ------------------------ ------------------- -------------
General Manager,
Steffen Borlich EKF Germany 800,000 61,893
----------------- ------------------------ ------------------- -------------
Company Secretary
and Head of Corporate
Salim Hamir Affairs 600,000 46,802
----------------- ------------------------ ------------------- -------------
Deputy Finance
Colin Anderson Director 700,000 46,802
----------------- ------------------------ ------------------- -------------
Other employees
and the former
Chairman Various 6,102,383 395,331
----------------- ------------------------ ------------------- -------------
Total 21,614,766 1,505,341
------------------------------------------- ------------------- -------------
The cash sum to be paid to each relevant Optionholder has been
calculated by reference to the mid-market share price of 21.5p,
being the price at the time the offer was made to the
Optionholders, with certain tax and other adjustments being
applied.
The purpose of this cancellation is to try and simplify the
Company's capital structure ahead of the previously announced
intended proposed share buyback and to reduce future dilution to
shareholders.
Following the cancellation, share options remain over a total of
1,950,000 Ordinary Shares and these are exercisable at various
prices of between 20p and 37.625p and expire between 7 July 2023
and 6 April 2025.
As at 23 June 2017 the Company had net cash balances of
approximately GBP3.9m after deduction of the GBP1.5m to be paid to
the various Optionholders as set out above.
EKF Diagnostics Holdings plc www.ekfdiagnostics.com
Christopher Mills, Non-Executive Tel: 029 2071 0570
Chairman
Julian Baines, CEO
Richard Evans, FD & COO
N+1 Singer (Nomad & Broker) Tel: 020 7496 3000
Alex Price / Shaun Dobson
/ Ali Laughton-Scott
Walbrook PR Limited Tel: 020 7933 8780 or ekf@walbrookpr.com
Paul McManus / Lianne Cawthorne Mob: 07980 541 893 / 07584 391 303
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) Names Julian Baines - Chief Executive
Officer
Richard Evans - Chief Operating
Officer and Finance Director
Steven Wray - Head of Sales EMEA
Gilbert Mejia - Head of Sales
Americas
Martyn Lewis - Head of Marketing
Peter Coyne - Head of Operations
Ed Hitchler - General Manager,
EKF USA
Steffen Borlich - General Manager,
EKF Germany
Salim Hamir - Company Secretary
and Head of Corporate Affairs
Colin Anderson - Deputy Finance
Director
--- ------------------------ --------------------------------------
2 Reason for the notification
--- ----------------------------------------------------------------
a) Position/status See 1(a) above for positions -
all classified as PDMRs of EKF
--- ------------------------ --------------------------------------
b) Initial notification Initial Notification
/Amendment
--- ------------------------ --------------------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or
auction monitor
--- ----------------------------------------------------------------
a) Name EKF Diagnostics Holdings plc
--- ------------------------ --------------------------------------
b) LEI 213800DXTF3EAUK1AR05
--- ------------------------ --------------------------------------
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 In each case, the grant of Options
the financial over Ordinary Shares
instrument, type
of instrument
--- ------------------------ --------------------------------------
b) Identification GB0031509804
code
--- ------------------------ --------------------------------------
c) Nature of the Cancellation of Options over Ordinary
transaction Shares
--- ------------------------ --------------------------------------
d) Price(s) and Price - n/a
volume(s) Volume(s)
Julian Baines - 5,127,383 Options
Richard Evans - 4,260,000 Options
Steven Wray - 825,000 Options
Gilbert Mejia - 800,000 Options
Martyn Lewis - 800,000 Options
Peter Coyne - 800,000 Options
Ed Hitchler - 800,000 Options
Steffen Borlich - 800,000 Options
Salim Hamir -600,000 Options
Colin Anderson - 700,000 Options
--- ------------------------ --------------------------------------
d) Aggregated information
- Aggregated 15,512,383
volume N/A
- Price
--- ------------------------ --------------------------------------
e) Date of the transaction 26 June 2017
--- ------------------------ --------------------------------------
f) Place of the Outside a trading venue
transaction
--- ------------------------ --------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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