hVIVO plc
("hVIVO" or the "Company")
Long Term Incentive Plan / PDMR Notification
hVIVO plc (AIM & Euronext: HVO), a rapidly growing specialist contract research organisation (CRO) and world leader in testing infectious and respiratory disease products using human challenge clinical trials, announces that the Company has granted options to Stephen Pinkerton, Chief Financial Officer, under its Long Term Incentive Plan ("LTIP").
The LTIP has been designed to reward, incentivise and retain Mr Pinkerton to deliver sustainable growth for shareholders. Under the rules of the LTIP, the deemed date of award is 1 February 2023 following his appointment to the role in October 2022. Under the LTIP, Mr Pinkerton has been awarded 2,433,824 nominal cost long term incentive options ("LTIP Options") over ordinary shares of £0.001 each in the Company.
Vesting of the LTIP Options is conditional upon a three-year total shareholder return ("TSR") performance against an initial 17p reference price. The LTIP Options will vest on the third anniversary of the date of award subject to the achievement of a minimum 10% CAGR TSR performance increasing on a straight-line basis to vesting in full subject to the achievement of a 22.5% CAGR TSR performance.
For further information please contact:
| hVIVO plc | +44 (0) 20 7756 1300 | ||
| Yamin 'Mo' Khan, Chief Executive Officer Stephen Pinkerton, Chief Financial Officer | | ||
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| Cavendish Capital Markets Limited (Nominated Adviser and Joint Broker) | +44 (0) 20 7220 0500 | ||
| Geoff Nash, Charlie Beeson, Nigel Birks, Harriet Ward | | ||
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| Peel Hunt LLP (Joint Broker) | +44 (0)20 7418 8900 | ||
| James Steel, Dr Christopher Golden | | ||
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| Davy (Euronext Growth Adviser and Joint Broker) | +353 (0) 1 679 6363 | ||
| Anthony Farrell, Niall Gilchrist | | ||
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| Walbrook PR (Financial PR & IR) Stephanie Cuthbert / Phillip Marriage / | +44 (0) 20 7933 8780 or hvivo@walbrookpr.com +44 (0) 7796 794 663 / +44 (0) 7867 984 082 / | ||
Notes to Editors
About hVIVO
hVIVO plc (ticker: HVO) (formerly Open Orphan plc) is a rapidly growing specialist contract research organisation (CRO) and the world leader in testing infectious and respiratory disease vaccines and therapeutics using human challenge clinical trials. The Group provides end-to-end early clinical development services to its large, established and growing repeat client base, which includes four of the top 10 largest global biopharma companies.
The Group's fast-growing services business includes a unique portfolio of 11 human challenge models, with a number of new models under development, to test a broad range of infectious and respiratory disease products. The Group has world class challenge agent manufacturing capabilities, specialist drug development and clinical consultancy services via its Venn Life Sciences brand, and a lab offering via its hLAB brand, which includes virology, immunology biomarker and molecular testing. The Group offers additional clinical field trial services such as patient recruitment and clinical trial site services.
hVIVO runs challenge studies in London from its Whitechapel quarantine clinic, its state-of-the-art QMB clinic with its highly specialised on-site virology and immunology laboratory, and its clinic in Plumbers Row. To recruit volunteers / patients for its studies, the Group leverages its unique clinical trial recruitment capability via its FluCamp volunteer screening facilities in London and Manchester.
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 of PDMR | Stephen Pinkerton | |
| 2 | Reason for notification
| ||
| a. | Position/Status | CFO | |
| b. | Initial notification/ Amendment | Initial | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a. | Name | hVIVO plc | |
| b. | LEI | 213800VT5KBM7JLIV118 | |
| 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
| Ordinary shares of £0.001 each
ESVUFR ISIN GB00B9275X97 | |
| b. | Nature of the transaction | Grant of options under LTIP | |
| c. | Price(s) and volume(s) | Price(s) | Volume(s) |
| 0.001 | 2,433,824 | ||
| d. | Aggregated information
- Aggregated Volume
- Price |
2,433,824 0.001 | |
| e. | Date of the transaction | 14 February 2024 | |
| f. | Place of the transaction | Outside a trading venue | |
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