4basebio Plc - Long-Term Incentive Plan and Exercise of Options
("4basebio", the "Company" or the “Group”)
Long-Term Incentive Plan and Exercise of Options
4basebio has been notified that Companies under the beneficial control of
These transactions have no direct impact on the operations of the Company or its subsidiaries and the acquisition of interests in 2Invest AG by DB does not increase either parties’ direct holding in 4basebio or otherwise affect the concert party which was considered to exist at the time of 4basebio’s admission to AIM.
Nevertheless, this event represents a disqualifying event for the purposes of 4basebio’s EMI option scheme, leaving option holders 90 days to exercise their share options or lose the future benefits of the EMI scheme. The Company’s remuneration committee, which includes all non-executive directors, has sought the advice of external advisers, and consulted extensively with its major shareholders, on appropriate measures.
Certain EMI option holders which include
Enlarged shareholding
Name Number of Options Shareholding prior to as percentage of
Exercised Option Exercise enlarged issued share
capital
Heikki Lanckriet 211,863 1,252,453 1,464,316
David Roth 179,000 317,000 496,000
The Company’s Remuneration Committee has further resolved that the long-term incentivisation for senior management in the event of a future sale of the Company will comprise a cash bonus calculated as to a percentage of any future sale price achieved for the Company that exceeds £85 million. The quantum that would be awarded to Dr
In respect of the EMI disqualification event for non-senior management, the Remuneration Committee has agreed that 78,996 unapproved options at EUR€1 per new ordinary share. The vesting criteria and exercise conditions for these additional options will mirror the existing vesting and exercise conditions of options held by those option holders.
Following the issue of the New Ordinary Shares, the issued share capital of the Company will comprise 12,796,208 ordinary shares of EUR€1 each.
A further announcement will be made following the disposal of any shares by directors.
Admission to AIM
Application will be made for the New Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective at
Total Voting Rights
Following Admission, the total number of ordinary shares in issue will be 12,796,208. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares with voting rights will be 12,796,208 . This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the
Related Party Transaction
The award of the bonuses to certain directors in the event of a future sale of the Company constitutes a related party transaction (“Transaction”) pursuant to Rule 13 of the AIM Rules for Companies. With the exception of Dr
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 as amended by regulation 11 of the market abuse (amendment) (EU Exit) regulations 2019/310.
For further enquiries, please contact:
4basebio PLC +44 (0)12 2396 7943
Heikki Lanckriet , CEO
Cairn Financial Advisers LLP (NominatedAdviser) +44 (0)20 7213 0880
Jo Turner / Sandy Jamieson Cavendish Capital Markets Limited (Broker) +44 (0)20 7220 0500
Geoff Nash /Charlie Beeson
Notes to Editors
4basebio (AIM: 4BB) is a specialist life sciences group focused on therapeutic DNA for cell and gene therapies and DNA vaccines and providing solutions for effective and safe delivery of these DNA based products to patients. It is the intention of the Company to become a market leader in the manufacture and supply of high purity, synthetic DNA for research, therapeutic and pharmacological use and develop non-viral vectors for the efficient delivery of payloads. The immediate objectives of 4bb are to validate and scale its DNA synthesis and advance its collaborations to facilitate the functional validation of its DNA based products and cell and gene delivery solutions.
Forward-looking statements
This announcement may contain certain statements about the future outlook for the 4basebio. Although the directors believe their expectations are based on reasonable assumptions, any statements about future outlook may be influenced by factors that could cause actual outcomes and results to be materially different.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 1 Details of the person discharging managerial responsibilities/person closely associated a.Name 1. DrHeikki Lanckriet 2.David Roth 2 Reason for notification a. Position/Status 1. CEO 2. CFO b. Initial notification/Amendment Initial Notification 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a.Name 4basebio plc b. LEI 213800E2DX9EAIUNCB30 Details of the transaction(s): section to be repeated for (i) each type of 4 instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted Description of the financial instrument, Ordinary Shares a. type of instrument ISIN: GB00BMCLYF79 Identification Code b. Nature of the transaction Exercise of options Price(s) per share (p) Volume(s) 211,863 1. 118p 2. 118p 179,000 Aggregated information d. -- 390,863 -- Volume --118 pence per share -- Price e. Date of the transaction1/2/2024 f. Place of the transactionLondon Stock Exchange , AIM
