Biome Technologies plc (LON:BIOM) has announced that it has granted share options over a maximum of 37,349 ordinary shares in the Company under its previously announced 2017 LTIP. These share options have been granted to Biome’s Group Chief Financial Officer, Robert Smith, and this award is intended to closer align Mr Smith’s rewards with those of the Company’s shareholders.
The performance award will follow the criteria disclosed in the announcement regarding the set-up of the 2017 LTIP released on 21 December 2017, with the exception of the following changes:
· The exercise price will be 390 pence per ordinary share, the mid-market share price at the close of 26 May 2021; and
· The value pool for these options will commence only when Biome Technologies´s average closing share price, taken over a 56 day period commencing 63 days before the relevant vesting date, exceeds 390 pence per ordinary share.
The time criterion that restricts the value pool is as per the following vesting profile:
· 10 June 2021: 90% of the value pool
· 10 December 2021: 100% of the value pool (less any amounts awarded under previous vestings)
All vested share options must be exercised by 19 December 2022 under the rules of the 2017 LTIP.