Avacta Group plc (AIM: AVCT), a life sciences company developing innovative, targeted oncology drugs and powerful diagnostics, announces that a total of 3,600,000 options over ordinary shares of 10p each (“Ordinary Shares”) were granted to Christina Coughlin, MD, PhD, Chief Executive Officer (the “Options”) on 30 August 2024.
The Options were granted under the Company’s Long Term Incentive Plan, Avacta Group plc Executive Share Option Scheme and are time-based, vesting in three equal tranches over three years to 1 May 2027. The exercise price of the Options is 72p, being the closing mid-market share price of the Company’s ordinary shares on the 29 August 2024.
Also on 30 August 2024, Tony Gardiner, CFO, exercised 500,000 options and sold the resulting ordinary shares of 10p each at an average price of 71.07 pence per share. The exercise price of the options was 10p per ordinary share. Tony Gardiner continues to retain 2,328,324 options over Ordinary Shares.
As previously announced Tony Gardiner stepped down from the Board on 26 June 2024 but will be remaining as CFO until 31st October 2024 whilst the search for a new permanent CFO is undertaken.
Following the allotment of the 500,000 ordinary shares issued as a result of the exercise of options by Tony Gardiner, the Company’s enlarged issued share capital is 362,159,730 ordinary shares of 10p each. 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 Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.