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 Options being surrendered |
Cash payment (£) |
|
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 |
|
Ed Hitchler |
General Manager, EKF USA |
800,000 |
59,914 |
|
Steffen Borlich |
General Manager, EKF Germany |
800,000 |
61,893 |
|
Salim Hamir |
Company Secretary and Head of Corporate Affairs |
600,000 |
46,802 |
|
Colin Anderson |
Deputy Finance 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 £3.9m after deduction of the £1.5m to be paid to the various Optionholders as set out above.
|
EKF Diagnostics Holdings plc |
|
|
Christopher Mills, Non-Executive Chairman |
Tel: 029 2071 0570 |
|
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 /Amendment |
Initial Notification |
|
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 the financial instrument, type of instrument |
In each case, the grant of Options over Ordinary Shares |
|
b) |
Identification code |
GB0031509804 |
|
c)
|
Nature of the transaction |
Cancellation of Options over Ordinary Shares |
|
d)
|
Price(s) and volume(s) |
Price - n/a 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 volume - Price |
15,512,383 N/A |
|
e)
|
Date of the transaction |
26 June 2017 |
|
f)
|
Place of the transaction |
Outside a trading venue |