TIDMOXB

RNS Number : 1284L

Oxford Biomedica PLC

14 July 2017

Deferred Bonus Plan and Long Term Incentive Plan Option Grants

London, UK - 14 July 2017: Oxford BioMedica plc ("Oxford BioMedica" or "the Company") (LSE:OXB), a leading gene and cell therapy Group, announces that on 13 July 2017 share options were granted to members of the Senior Executive Team under the Oxford BioMedica 2015 Deferred Bonus Plan ( "DBP") and the Oxford BioMedica 2015 Long Term Incentive Plan ("LTIP").

The number of shares subject to each grant was determined by the average closing price of the Company's shares for the five business days up to and including 12 July 2017.

 
 Director         Title               Number of         Number of             Total shares   Percentage 
                                       shares subject    shares subject        over which     of issued 
                                       to DBP grant      to LTIP grant         options        shares 
                                                                               are held       under option 
                                                                               (notes 
                                                                               1,2) 
---------------  ------------------  ----------------  --------------------  -------------  -------------- 
                  Chief Executive 
 John Dawson       Officer                  1,064,847             3,173,741     26,589,755            0.9% 
---------------  ------------------  ----------------  --------------------  -------------  -------------- 
 James            Chief Technical 
  Miskin           Officer                    320,177             1,586,146      8,034,836            0.3% 
---------------  ------------------  ----------------  --------------------  -------------  -------------- 
 Kyriacos         Chief Scientific 
  Mitrophanous     Officer                    320,177             1,586,146      8,327,764            0.3% 
---------------  ------------------  ----------------  --------------------  -------------  -------------- 
 Peter            Chief Business 
  Nolan            Officer                    727,247             1,961,197     14,791,913            0.5% 
---------------  ------------------  ----------------  --------------------  -------------  -------------- 
                  Chief Financial 
 Tim Watts         Officer                    757,967                   NIL     14,747,214            0.5% 
---------------  ------------------  ----------------  --------------------  -------------  --------------

Notes:

   1.     Includes the grants described above

2. Includes 2014 DBP awards to be met by market purchased shares held by the Oxford BioMedica Employee Benefit Trust

Each award has been granted in the form of a nil-cost option.

Under the terms of the 2015 DBP, the DBP grants will become exercisable as to one third of the shares subject to it on each of the first three anniversaries of the grant date.

The LTIP grants are subject to a three year vesting period. They are exercisable from the third anniversary of the grant, subject to the satisfaction of a performance condition. The vesting criteria will be based on the average closing share price over the five business days preceding the date of award (9.9p). No vesting will occur if, over the three year vesting period, the compound growth rate of the share price is below 10% pa growth (i.e. 33% over 3 years). At 10% pa growth over three years 25% of the award will vest and, if 20% pa growth is achieved over the three years (i.e. 73% over 3 years), 100% of the awards will vest, with a linear increment between 25% and 100%.

There will also be a performance underpin, such that the awards would only vest to the extent that the Remuneration Committee considers that the overall performance of the business across the period justifies it. The share price at the third anniversary will also be averaged across the preceding three month period to avoid rewarding for short term spikes in performance. Clawback and malus provisions will apply to the awards.

The issued share capital of the Company is 3,089,030,365 1p ordinary shares.

This notification is made pursuant to Disclosure and Transparency Rule 3.1.4.

- Ends -

 
 For further information, please 
  contact: 
  Oxford BioMedica plc:                    Tel: +44 (0)1865 
   John Dawson, Chief Executive Officer     783 000 
   Tim Watts, Chief Financial Officer 
  Consilium Strategic Communications       Tel: +44 (0)20 
   Mary-Jane Elliott/Matthew Neal/Chris     3709 5700 
   Welsh/Laura Thornton

Notes for editors

About Oxford BioMedica(R)

Oxford BioMedica (LSE:OXB) is a leading gene and cell therapy company focused on developing life changing treatments for serious diseases. Oxford BioMedica and its subsidiaries (the "Group") have built a sector leading lentiviral vector delivery platform (LentiVector(R) ) through which the Group develops in vivo and ex vivo products both in-house and with partners. The Group has created a valuable proprietary portfolio of gene and cell therapy product candidates in the areas of oncology, ophthalmology and CNS disorders. The Group has also entered into a number of partnerships, including with Novartis, Sanofi, GSK, and Immune Design, through which it has long-term economic interests in other potential gene and cell therapy products. Oxford BioMedica is based across several locations in Oxfordshire, UK and employs more than 250 people. Further information is available at www.oxfordbiomedica.co.uk.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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