Grant of Awards under Long-Term Incentive Plan
Updated : 07:00
23 July 2021
Eden Research plc
("Eden" or "Company)
Grant of Awards under Long-Term Incentive Plan
Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable biopesticides and plastic-free formulation technology for use in global crop protection, animal health and consumer products industries, confirms the grant of options under the Company's recently implemented Long Term Incentive Plan ("LTIP") to Sean Smith, Chief Executive Officer, and Alex Abrey, Chief Finance Officer (together the "Executives"), as follows:
Following the grant under the new LTIP in respect of prior years, as announced on 1 April 2021 where all outstanding grants under the previous LTIP scheme were cancelled, the Company has now made a 2021 grant in order to ensure continuity of long term incentive of options over 7,183,784 new Ordinary Shares in Eden ("the Options"), at a strike price of 10.37p each, in the amounts of 4,102,703 awarded to Sean Smith and 3,081,081 awarded to Alex Abrey.
The Options expire on 31 July 2025 and vest as follows:
1/3 upon grant
1/3 12 months from the date of grant
1/3 24 months from the date of grant
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail.
For further information contact:
Eden Research plc | |
Sean Smith | 01285 359 555 |
Cenkos Securities plc (Nominated advisor and broker) | |
Giles Balleny / Camilla Hume/ Mark Connelly (corporate finance) | 020 7397 8900 |
Hawthorn Advisors (Financial PR) | |
Lorna Cobbett / Victoria Ainsworth |
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name | Sean Smith | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Chief Executive Officer | ||||
b)
| Initial notification /Amendment
| Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Eden Research plc | ||||
b)
| LEI
| 213800ZWTYTVQQSM3J85 | ||||
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 financial instrument, type of instrument Identification code
| Ordinary shares of 1 pence each
GB0001646941 | ||||
b)
| Nature of the transaction
| Grant of options | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price
|
N/A | ||||
e)
| Date of the transaction
| 22 July 2021 | ||||
f)
| Place of the transaction
| Outside of trading venue | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name | Alex Abrey | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Chief Financial Officer | ||||
b)
| Initial notification /Amendment
| Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Eden Research plc | ||||
b)
| LEI
| 213800ZWTYTVQQSM3J85 | ||||
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 financial instrument, type of instrument Identification code
| Ordinary shares of 1 pence each
GB0001646941 | ||||
b)
| Nature of the transaction
| Grant of options | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price
|
N/A | ||||
e)
| Date of the transaction
| 22 July 2021 | ||||
f)
| Place of the transaction
| Outside of trading venue | ||||
Notes to Editors:
Eden Research is an AIM quoted company that develops and supplies breakthrough biopesticide products and natural, plastic-free microencapsulation technologies to the global crop protection, animal health and consumer products industries.
Eden's Sustaine® encapsulation technology is used to harness the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with both natural and synthetic compounds to enhance their performance and ease-of-use. Sustaine microcapsules are naturally derived, plastic-free, biodegradable micro-spheres derived from yeast extract. It is one of the only viable, proven and immediately registerable solutions to the microplastics problem in formulations requiring encapsulation.
Eden has numerous patents and a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. Eden was admitted to trading on AIM in May 2012.
For more information about Eden, please visit: www.edenresearch.com.
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