NetScientific plc
(“NetScientific” or the “Company”)
Grant of Options to Directors
London, UK – 29 September 2021 – NetScientific plc (AIM:NSCI), the international life sciences and sustainability, technology investment and commercialisation group, announces that on 28 September 2021 it granted a further 183,191 options over ordinary shares of 5p each (the “Ordinary Shares”) to each of its Chief Executive Officer, Dr Ilian Iliev, and its Executive Chairman, John Clarkson, (the “New Options”).
The table below summarises the New Options and the existing options over Ordinary Shares held by Dr Iliev and Mr Clarkson.
| Director | Number of existing options held | Number of New Options granted | Total number of options held |
| Ilian Iliev | 382,465 | 183,191 | 565,656 |
| John Clarkson | 382,465 | 183,191 | 565,656 |
The grant of the New Options represents the recommendations of the Board’s Remuneration Committee, in respect of remuneration arrangements for Executive Directors following the successful £7.7m placement on 29 June 2021 (the “Fundraising”). The New Options bring the interests of Dr Iliev and Mr Clarkson to approximately 2.5 per cent. of the entire issued Ordinary Shares, being the same percentage interest of their existing options prior to the Fundraising.
The New Options were granted under the NetScientific Share Option Scheme, pursuant to which options over a total of 1,760,545 Ordinary Shares have now been granted, representing 8.4 per cent. of the current issued share capital of the Company. The maximum potential dilution arising from options awarded under the NetScientific Share Option Scheme remains below the upper limit of 10 per cent. under the rules of the plan.
The New Options have an exercise price of 124.0 pence per share (the “Exercise Price”), which is equal to the average of the closing market quotations for Ordinary Shares over the five dealing days prior to the date on which the New Options were granted (the latter being the minimum price that could have been set).
The New Options will vest as to one third on the date of grant, as to a further third on the first anniversary of the date of grant and as to the final third on the second anniversary of the date of grant. The New Options may not be exercised earlier than the third anniversary of the date of grant. The New Options lapse 10 years after the date of grant (if not sooner in accordance with the terms of the NetScientific Share Option Scheme rules).
The FCA notifications, made in accordance with the requirements of the UK Market Abuse Regulation, are appended below.
This announcement includes inside information as defined in Article 7 of the UK version of Market Abuse Regulation No. 596/2014 as it forms part of UK law as retained EU law as defined in, and by virtue of, the European Union (Withdrawal) Act 2018, as amended, and is disclosed in accordance with the Company’s obligations under Article 17 of those Regulations.
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For more information, please contact:
| NetScientific | Via Walbrook PR |
| Ilian Iliev, CEO | |
| WH Ireland (NOMAD, Financial Adviser and Broker) | |
| Chris Fielding / Darshan Patel | +44 (0)20 7220 1666 |
| Walbrook PR | +44 (0)20 7933 8780 or netscientific@walbrookpr.com |
| Nick Rome / Nicholas Johnson / Paul McManus | 07748 325 236 / 07884 664 686 / 07980 541 893 |
The information below, set out in accordance with the requirements of the UK Market Abuse Regulation, provides further detail on the grant of options to PDMRs.
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 | Dr Ilian Iliev | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | CEO, NetScientific plc | ||||
| b) | Initial notification/ Amendment | Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | NetScientific plc | ||||
| b) | LEI | 213800N5WD46G1Y7I458 | ||||
| 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 |
Options over Ordinary Shares
ISIN for NetScientific plc Ordinary Shares: GB00BN4R5Q82 |
||||
| b) | Nature of the transaction | Grant of options | ||||
| c) | Price(s) and volume(s) |
|
||||
| d) | Aggregated information
– Aggregated volume – Aggregated price – Aggregated total |
N/A | ||||
| e) | Date of the transaction | 28 September 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | John Clarkson | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Executive Chairman, NetScientific plc | ||||
| b) | Initial notification/ Amendment | Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | NetScientific plc | ||||
| b) | LEI | 213800N5WD46G1Y7I458 | ||||
| 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 |
Options over Ordinary Shares
ISIN for NetScientific plc Ordinary Shares: GB00BN4R5Q82 |
||||
| b) | Nature of the transaction | Grant of options | ||||
| c) | Price(s) and volume(s) |
|
||||
| d) | Aggregated information
– Aggregated volume – Aggregated price – Aggregated total |
N/A | ||||
| e) | Date of the transaction | 28 September 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
About NetScientific
NetScientific plc (AIM: NSCI) is an active holding company, that invests in, develops, commercialises and realises shareholder value in life sciences/healthcare, sustainability and technology companies, which offer significant growth potential predominately in the UK and USA, as well as globally.
NetScientific delivers shareholder returns through a proactive and hands-on management approach to their portfolio companies; identifying, investing in, and helping to build game-changing companies. The Group targets value inflection points and the release of value through partial or full exits from trade sales, public listings, or equity sales. The Company has a strong transatlantic and growing international presence, providing attractive expansion prospects.
NSCI uses a capital-light investment structure, utilising the power of the PLC Brand, and the Group’s balance sheet to anchor future investments and achieve a multiplier effect by attracting 3rd party investment for the portfolio companies.
NetScientific is headquartered in London, United Kingdom, and was admitted to trading on AIM, a market operated by the London Stock Exchange, in 2013 (website: netscientific.net).