Grant of options
Oxford, UK - 04 October 2024: Oxford Biomedica plc ("OXB" or the "Company"; LSE: OXB), a quality and innovation-led cell and gene therapy CDMO, today announces that on 03 October 2024 nil-cost share options over ordinary shares of 50 pence each in the Company were granted under the OXB 2024 Long Term Incentive Plan ("LTIP").
2024 LTIP Awards
| Name of individual | Title | Number of shares subject to the DBP/LTIP award prior to 2024 award | Number of shares subject to the 2024 LTIP award | Total shares over which options now held | Percentage of current issued share capital under option |
| Frank Mathias | Chief Executive Officer | 323,178 | 257,113 | 580,291 | 0.55% |
| Lucinda Crabtree | Chief Financial Officer | - | 170,113 | 170,113 | 0.16% |
| Sebastien Ribault | Chief Business Officer | 66,903 | 58,406 | 125,309 | 0.12% |
| Thierry Cournez | Chief Operating Officer | 66,437 | 51,570 | 118,007 | 0.11% |
| Lisa James | Chief People Officer | 99,989 | 40,464 | 140,453 | 0.13% |
| Kyriacos Mitrophanous | Chief Innovation Officer | 179,433 | 52,651 | 232,084 | 0.22% |
| Natalie Walter | Group General Counsel and Company Secretary | 152,818 | 49,169 | 201,987 | 0.19% |
In line with best practice, the award granted to Frank Mathias was scaled back from 200% of salary to 160% of salary, with the same proportionate scale back applied to below board grantees. As a newly appointed Director, Lucinda Crabtree's award was scaled back from 175% of salary to 157.5% of salary.
The Remuneration Committee has determined that EBITDA margin and revenue growth are the key metrics aligned with the growth strategy. Therefore, for this grant the performance conditions will be based on those metrics, weighted 40% EBITDA margin and 60% revenue growth, with no non-financial leading performance indicators metrics. Performance in respect of each measure will be assessed following the end of a three year performance period ending with 2026. Details of the targets for the EBITDA margin and revenue growth measures are included in the 2023 Directors' Remuneration Report.
The awards will "vest" on 3 October 2027 to the extent determined by reference to the assessment of the performance condition. The awards granted to Frank Mathias and Lucinda Crabtree will only be "released" so that they can be exercised following the end of a further two year holding period. The awards granted to other participants will be released at vesting.
The Notification of Dealing Forms set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
Notification of Dealing Form
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||
| a) | Name | Frank Mathias | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status | Chief Executive Officer
| ||||
| b) | Initial notification/ amendment | Initial Notification | ||||
| 3. | Details of the Issuer | |||||
| a) | Name | Oxford Biomedica plc | ||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||
| b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan. No consideration was paid for the grant of awards. | ||||
| c) | Price(s) and volumes(s) | 2024 LTIP Award
| ||||
| d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 257,113 shares in total
N/A
| ||||
| e) | Date of the transaction | 2024-10-03 | ||||
| f) | Place of the transaction | Outside of trading venue | ||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||
| a) | Name | Lucinda Crabtree | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status | Chief Financial Officer
| ||||
| b) | Initial notification/ amendment | Initial Notification | ||||
| 3. | Details of the Issuer | |||||
| a) | Name | Oxford Biomedica plc | ||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||
| b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan. No consideration was paid for the grant of awards. | ||||
| c) | Price(s) and volumes(s) | 2024 LTIP Award
| ||||
| d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 170,113 shares in total
N/A
| ||||
| e) | Date of the transaction | 2024-10-03 | ||||
| f) | Place of the transaction | Outside of trading venue | ||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||
| a) | Name | Sebastien Ribault | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status | Chief Business Officer | ||||
| b) | Initial notification/ amendment | Initial Notification | ||||
| 3. | Details of the Issuer | |||||
| a) | Name | Oxford Biomedica plc | ||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||
| b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan. No consideration was paid for the grant of awards. | ||||
| c) | Price(s) and volumes(s) | 2024 LTIP Award
| ||||
| d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 58,406 shares in total
N/A
| ||||
| e) | Date of the transaction | 2024-10-03 | ||||
| f) | Place of the transaction | Outside of trading venue | ||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||
| a) | Name | Thierry Cournez | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status | Chief Operating Officer | ||||
| b) | Initial notification/ amendment | Initial Notification | ||||
| 3. | Details of the Issuer | |||||
| a) | Name | Oxford Biomedica plc | ||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||
| b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan. No consideration was paid for the grant of awards. | ||||
| c) | Price(s) and volumes(s) | 2024 LTIP Award
| ||||
| d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 51,570 shares in total
N/A
| ||||
| e) | Date of the transaction | 2024-10-03 | ||||
| f) | Place of the transaction | Outside of trading venue | ||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||
| a) | Name | Lisa James | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status | Chief People Officer | ||||
| b) | Initial notification/ amendment | Initial Notification | ||||
| 3. | Details of the Issuer | |||||
| a) | Name | Oxford Biomedica plc | ||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||
| b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan. No consideration was paid for the grant of awards. | ||||
| c) | Price(s) and volumes(s) | 2024 LTIP Award
| ||||
| d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 40,464 shares in total
N/A
| ||||
| e) | Date of the transaction | 2024-10-03 | ||||
| f) | Place of the transaction | Outside of trading venue | ||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||
| a) | Name | Kyriacos Mitrophanous | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status | Chief Innovation Officer | ||||
| b) | Initial notification/ amendment | Initial Notification | ||||
| 3. | Details of the Issuer | |||||
| a) | Name | Oxford Biomedica plc | ||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||
| b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan. No consideration was paid for the grant of awards. | ||||
| c) | Price(s) and volumes(s) | 2024 LTIP Award
| ||||
| d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 52,651 shares in total
N/A
| ||||
| e) | Date of the transaction | 2024-10-03 | ||||
| f) | Place of the transaction | Outside of trading venue | ||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||
| a) | Name | Natalie Walter | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status | General Counsel | ||||
| b) | Initial notification/ amendment | Initial Notification | ||||
| 3. | Details of the Issuer | |||||
| a) | Name | Oxford Biomedica plc | ||||
| b) | LEI code | 213800S1GVQNXQ15K851 | ||||
| 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
Identification code | Ordinary Shares of 50 pence each
ISIN: GB00BDFBVT43 | ||||
| b) | Nature of the transaction | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan. No consideration was paid for the grant of awards. | ||||
| c) | Price(s) and volumes(s) | 2024 LTIP Award
| ||||
| d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 49,169 shares in total
N/A
| ||||
| e) | Date of the transaction | 2024-10-03 | ||||
| f) | Place of the transaction | Outside of trading venue | ||||
-Ends-
Enquiries:
| Oxford Biomedica plc: Natalie Walter, Company Secretary |
Tel: +44 (0)1865 783 000 |
About OXB
OXB (LSE: OXB) is a quality and innovation-led contract development and manufacturing organisation (CDMO) in cell and gene therapy with a mission to enable its clients to deliver life changing therapies to patients around the world.
One of the original pioneers in cell and gene therapy, OXB has more than 25 years of experience in viral vectors; the driving force behind the majority of cell and gene therapies. OXB collaborates with some of the world's most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV), adenovirus and other viral vector types. OXB's world-class capabilities span from early stage development to commercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise.
OXB offers a vast number of unique technologies for viral vector manufacturing, including a 4th generation lentiviral vector system (the Tetravecta™ system), dual plasmid system for AAV production, suspension and perfusion process using process enhancers and stable producer and packaging cell lines.
OXB, a FTSE4Good constituent, is headquartered in Oxford, UK. It has bioprocessing and manufacturing facilities across Oxfordshire, UK, Lyon and Strasbourg, France and near Boston, MA, US. Learn more at www.oxb.com, and follow us on LinkedIn and YouTube.
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