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.”