Source - LSE Regulatory
RNS Number : 2159O
Avacta Group PLC
29 September 2023
 

29 September 2023

Avacta Group plc

("Avacta", the "Group" or the "Company")

 

Director/PDMR Shareholdings

 

 

Avacta Group plc (AIM: AVCT), a life sciences company focused on improving healthcare outcomes through targeted cancer treatments and diagnostics, announces it has granted a total of 2,500,000 options over ordinary shares of 10p each ("Ordinary Shares") to certain directors of the Company (the "Options").

 

These Options were granted under the Company's Long term Incentive Plan, Avacta Group plc Executive Share Option Scheme as set out below:

 

Director

Position

Number of Options Granted

Exercise Price

Alastair Smith

CEO

1,250,000

10p

Tony Gardiner

CFO

1,250,000

10p

 

The vesting conditions are based on the share price performance of the Company over the three year period up to 31 December 2025 relative to the performance of the FTSE AIM All Share Index during the same period.

 

Following these awards, the total number of Options held by the directors were as set out below:

 

Director

Position

Number of Options held

Alastair Smith

CEO

6,241,426

Tony Gardiner

CFO

2,828,384

 

 

 

Dr Eliot Forster, Chairman of Avacta Group plc said:

"Following the completion of the 2020 LTIP award period and the significant progress made within the Group during the year, I am pleased to confirm that the Remuneration Committee has been able to conclude the changes to the equity arrangements of Alastair and Tony. These arrangements continue to align the interest of the Executive Directors with the longer-term share price performance interests of our shareholders."

 

-Ends-

 

 

For further information from Avacta Group plc, please contact:

 

Avacta Group plc

Alastair Smith, Chief Executive Officer

Tony Gardiner, Chief Financial Officer

Michael Vinegrad, Group Communications Director

 

Tel: +44 (0) 1904 21 7070

www.avacta.com

Stifel Nicolaus Europe Limited (Nomad and Joint Broker)

Nicholas Moore / Nick Adams / Samira Essebiyea / Nick Harland / William Palmer-Brown

 

Tel: +44 (0) 207 710 7600

www.stifel.com

Peel Hunt (Joint Broker)

James Steel / Chris Golden / Patrick Birkholm

 

 

www.peelhunt.com

 

ICR Consilium

Mary-Jane Elliott / Jessica Hodgson / Sukaina Virji

 

avacta@consilium-comms.com

 

 

 

 

About Avacta Group plc - www.avacta.com

 

Avacta Group is a UK-based company focused on improving healthcare outcomes through targeted cancer treatments and diagnostics.

 

Avacta has two divisions: an oncology biotech division harnessing proprietary therapeutic platforms to develop novel, highly targeted cancer drugs, and a diagnostics division, which is executing on an M&A led growth strategy to create a full-spectrum diagnostics business focused on supporting healthcare professionals and broadening access to testing. Avacta's two proprietary platforms, Affimer® and pre|CISIONTM underpin its cancer therapeutics whilst the diagnostics division leverages the Affimer® platform to drive competitive advantage in its markets.

 

The pre|CISIONTM platform modifies chemotherapy to be activated only in the tumour tissue, reducing systemic exposure and toxicity. This is achieved by harnessing an enzyme called FAP which is highly upregulated in most solid tumours compared with healthy tissues, turning chemotherapy into a "precision medicine". The lead pre|CISIONTM programme, AVA6000 a tumour activated form of doxorubicin, is in Phase 1 studies and has shown dramatic improvement in safety compared with standard doxorubicin, and early signs of clinical activity.

 

Affimer® is a novel biologic platform which has significant technical and commercial advantages compared with antibodies and is used both to develop advanced immunotherapies and to improve the performance of immunodiagnostics.

 

With a balanced business and capital allocation model: a high-value oncology pipeline supported by a revenue generating, fast-growing diagnostics business, Avacta seeks to create long-term shareholder value alongside patient benefit.

 

 

To register for news alerts by email go to www.avacta.com/investor-news-email-alerts

 

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

 

 

 

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)

Name

Alastair 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

Avacta Group Plc

b)

LEI

2138009U3EG31OPMGH36

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

 

Options over Ordinary Shares

Identification code

GB00BYYW9G87

b)

Nature of the transaction

 

Grant of Options over Ordinary Shares

 

c)

Price(s) and volume(s)

 

LTIP

Exercise Price(s)

Volume(s)

10.00 pence

1,250,000

d)

Aggregated information:

·      Aggregated volume

·      Price

Grant of 1,250,000 options over Ordinary Shares at an exercise price of 10p

e)

Date of the transaction

28 September 2023

f)

Place of the transaction

Outside a trading venue

 

 

1.  

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Tony Gardiner

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

Avacta Group Plc

b)

LEI

2138009U3EG31OPMGH36

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

 

Options over Ordinary Shares

Identification code

GB00BYYW9G87

b)

Nature of the transaction

 

Grant of Options over Ordinary Shares

 

c)

Price(s) and volume(s)

 

LTIP

Exercise Price(s)

Volume(s)

10.0 pence

1,250,000

d)

Aggregated information:

·      Aggregated volume

·      Price

Grant of 1,250,000 options over Ordinary Shares at an exercise price of 10p

e)

Date of the transaction

28 September 2023

f)

Place of the transaction

Outside a trading venue

 

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