EMV CAPITAL PLC — Director's Dealing 2020

Sep 25, 2020

National Storage Mechanism | Additional information

RNS Number : 1765A

NetScientific PLC

25 September 2020

NetScientific plc

("NetScientific" or the "Company")

Grant of Options to Director

London, UK - 25 September 2020 - NetScientific plc (AIM:NSCI) (the "Company"), the life sciences and technology Group, announces that on 25 September 2020 it granted 372,903 options over ordinary shares of 5p each to its chief executive officer Dr Ilian Iliev (the "New Options").

Director	Number of existing options held	Number of New Options granted	Total number of options held
Dr Ilian Iliev	0	382,465	382,465

The Company announced on 5 August 2020 (the "Placing and Acquisition Announcement") its planned review of the remuneration arrangements for senior management, including the NetScientific Share Option Scheme, following its acquisition of EMV Capital (which subsequently completed on 25 August 2020). The objective of this review was to better align incentives with the interests of all of the shareholders of the Company and support the strategy and business objectives of the Company.

The grant of the New Options represents the initial recommendations of the Board's Remuneration Committee, with the New Options granted to Dr Ilian Iliev being as set out in the Placing and Acquisition Announcement. The Remuneration Committee is continuing its review in respect of remuneration arrangements for senior management in addition to the New Options, and the results of such continuing review shall be announced upon its completion and approval by the Board.

The New Options were granted under the NetScientific Share Option Scheme, pursuant to which options over a total of 743,063 Ordinary Shares have now been granted, representing 4.98 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 65.0 pence per share (the "Exercise Price"), which is equal to the placing price quoted in the Placing and Acquisition Announcement and represents a 1.36 per cent. premium 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 announcement of 5 August 2020 stated that the grant of the New Options to Dr Ilian Iliev represented  a related party transaction under Rule 13 of the AIM Rules for Companies and that the Independent Directors (being Mr Clarkson and Professor Smith) considered, having consulted with WH Ireland Limited, the Company's nominated adviser, that the terms of that grant were fair and reasonable insofar as the shareholders of the Company are concerned.

The FCA notifications, made in accordance with the requirements of the EU Market Abuse Regulation, are appended below.

# # #

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Following the publication of this announcement, this inside information is now considered to be in the public domain.

For more information, please contact:

NetScientific 

Ilian Iliev, CEO  Tel: +44 (0)20 3514 1800

WH Ireland (NOMAD, Financial Adviser and Broker)

Chris Fielding / Jessica Cave / Darshan Patel  Tel: +44 (0)20 7220 1666

MO PR ADVISORY (Press Contact)

Mo Noonan  Tel: +44 (0)78 7644 4977

The information below, set out in accordance with the requirements of the EU 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: GB00B9F4MT28

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0.65	382,465 options

d)

Aggregated information

-      Aggregated volume

-      Aggregated price

-      Aggregated total

N/A

e)

Date of the transaction

25 September 2020

f)

Place of the transaction

Outside a trading venue

About NetScientific

NetScientific is a life sciences and technology company, leveraging the trans-Atlantic relationships and global opportunities to deliver shareholder value.

For more information, please visit the website at    www.NetScientific.net

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