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INTELLIGENT ULTRASOUND GROUP PLC
Remuneration Information • Dec 22, 2020
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Remuneration Information
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RNS Number : 5263J
Intelligent Ultrasound Group PLC
22 December 2020
Intelligent Ultrasound Group plc
("the Company")
Grant of Share Options
Intelligent Ultrasound Group plc (AIM: IUG), the ultrasound artificial intelligence (AI) software and simulation company, announces the grant of 3,608,264 share options to the Directors and 4,523,245 share options to other management and employees (together the "options") on 21 December 2020 at a price of 15.25 pence per share, representing the closing mid-market price on the date of approval by the Remuneration committee.
Individual Director option grants
| Director | New grant | Type |
| Stuart Gall | 1,087,498 | Non-EMI |
| Nicholas Sleep | 1,033,711 | Non-EMI |
| Ian Whittaker | 728,289 | Non-EMI |
| Ian Whittaker | 96,500 | EMI |
| Helen Jones | 662,266 | EMI |
| 3,608,264 |
Following the option grants above, the Directors hold the total number of share options as shown below:
| Director | Number of options held |
| Stuart Gall | 4,116,498 |
| Nicholas Sleep | 3,166,711 |
| Ian Whittaker | 2,024,789 |
| Helen Jones | 1,662,266 |
| 10,970,264 | |
| % of share capital on fully diluted basis | 3.7% |
Vesting criteria
The options vest over a period of 36 months from date of grant as shown below and will remain exercisable at any point up until the tenth anniversary of the date of grant.
| Number of shares in respect of which the Option shall vest |
| 12/36 vest after 12 months |
| 1/36 vest per month for 24 months |
Management and employee options
A total of 4,523,245 options have been issued to other management and employees. Each award (regardless of whether it was granted as an EMI award or a non-EMI advantaged award) will ordinarily become exercisable on the third anniversary of grant, subject to the grantee's continued service with the Group and will remain exercisable at any point up until the tenth anniversary of the date of grant.
These option grants are under the Company's EMI scheme where the individual and the grant meets EMI criteria. Grants which do not qualify are under the same rules as the EMI scheme but will not benefit from EMI tax status.
The notification in Appendix 1 to this announcement, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
For further information, please contact:
| Intelligent Ultrasound Group plc | www. intelligentultrasound.com | ||||
| Stuart Gall, CEO Helen Jones, CFO |
Tel: +44 (0)29 2075 6534 | ||||
| Cenkos Securities - Nominated Advisor and Broker | Tel: +44 (0)20 7397 8900 | ||||
| Giles Balleny / Cameron MacRitchie (Corporate Finance) | |||||
| Michael Johnson / Julian Morse (Sales) | |||||
| Walbrook PR | Tel: +44 (0)20 7933 8780 or [email protected] | ||||
| Anna Dunphy / Paul McManus | Mob: +44 (0)7876 741 001 / Mob: +44 (0)7980 541 893 | ||||
About Intelligent Ultrasound Group
Intelligent Ultrasound (AIM: IUG) develops artificial intelligence-based clinical image analysis software tools for the diagnostic medical ultrasound market and hi-fidelity virtual reality simulators for the ultrasound training market. Based in Cardiff in the UK and Atlanta in the US, the Group operates two divisions:
Clinical AI Division
Focusses on developing deep learning-based algorithms to make ultrasound machines smarter and more accessible. Products in the market include ScanNav Assist, which uses machine-learning based algorithms to automatically identify and grade ultrasound images. GE Healthcare's SonoLyst software on their Voluson SWIFT ultrasound machine incorporates the ScanNav Assist AI technology and has received 510(k) clearance from the FDA for sale in the USA. SonoLyst is the world's first fully integrated AI tool that recognises the 20 views recommended by the International Society of Ultrasound in Obstetrics and Gynaecology mid-trimester practice guidelines for fetal imaging.
Products in development include ScanNav Anatomy PNB, which aims to simplify ultrasound-guided needling by providing the user with real-time AI-based anatomy highlighting software for a range of medical procedures. ScanNav Anatomy has been submitted for CE and FDA regulatory approval.
Simulation Division
Focusses on hi-fidelity ultrasound education and training through simulation. Its three main products are the ScanTrainer OBGYN training simulator, the HeartWorks echocardiography training simulator and the BodyWorks Eve Point of Care and Emergency Medicine training simulator. To date almost 1,000 simulators have been sold to over 600 medical institutions around the world.
Appendix 1
The Company makes the following disclosures in accordance with article 19(3) of the Market Abuse Regulation:
| NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES | ||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Stuart Gall |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification/amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Full name of the entity | Intelligent Ultrasound Group plc |
| b) | Legal entity identifier code | 213800K4ZVWL4ZYQAZ70 |
| 4 | Details of the transaction(s) | |
| a) | Description of the financial instrument, type of instrument | Options over ordinary shares in Intelligent Ultrasound Group plc with a nominal value of 1 pence each |
| b) | Identification Code | ISIN: GB00BN791Q39 |
| c) | Nature of the transaction | Grant of options over Ordinary Shares |
| d) | Currency | GBP - British pound |
| e) | Price(s) and Volume(s) | Price - 15,25 pence Volume - 1,087,498 |
| f) | Aggregated information - Price - Volume - Total |
N/A |
| g) | Date of transaction | 21 December 2020 |
| h) | Place of transaction | Off market |
| NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES | ||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Nicholas Sleep |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Technical Officer |
| b) | Initial notification/amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Full name of the entity | Intelligent Ultrasound Group plc |
| b) | Legal entity identifier code | 213800K4ZVWL4ZYQAZ70 |
| 4 | Details of the transaction(s) | |
| a) | Description of the financial instrument, type of instrument | Options over ordinary shares in Intelligent Ultrasound Group plc with a nominal value of 1 pence each |
| b) | Identification Code | ISIN: GB00BN791Q39 |
| c) | Nature of the transaction | Grant of options over Ordinary Shares |
| d) | Currency | GBP - British pound |
| e) | Price(s) and Volume(s) | Price - 15.25 pence Volume - 1,033,711 |
| f) | Aggregated information - Price - Volume - Total |
N/A |
| g) | Date of transaction | 21 December 2020 |
| h) | Place of transaction | Off market |
| NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES | ||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Ian Whittaker |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Operating Officer |
| b) | Initial notification/amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Full name of the entity | Intelligent Ultrasound Group plc |
| b) | Legal entity identifier code | 213800K4ZVWL4ZYQAZ70 |
| 4 | Details of the transaction(s) | |
| a) | Description of the financial instrument, type of instrument | Options over ordinary shares in Intelligent Ultrasound Group plc with a nominal value of 1 pence each |
| b) | Identification Code | ISIN: GB00BN791Q39 |
| c) | Nature of the transaction | Grant of options over Ordinary Shares |
| d) | Currency | GBP - British pound |
| e) | Price(s) and Volume(s) | Price - 15.25 pence Volume - 824,789 |
| f) | Aggregated information - Price - Volume - Total |
N/A |
| g) | Date of transaction | 21 December 2020 |
| h) | Place of transaction | Off market |
| NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES | ||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Helen Jones |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Financial Officer |
| b) | Initial notification/amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Full name of the entity | Intelligent Ultrasound Group plc |
| b) | Legal entity identifier code | 213800K4ZVWL4ZYQAZ70 |
| 4 | Details of the transaction(s) | |
| a) | Description of the financial instrument, type of instrument | Options over ordinary shares in Intelligent Ultrasound Group plc with a nominal value of 1 pence each |
| b) | Identification Code | ISIN: GB00BN791Q39 |
| c) | Nature of the transaction | Grant of options over Ordinary Shares |
| d) | Currency | GBP - British pound |
| e) | Price(s) and Volume(s) | Price - 15.25 pence Volume - 662,266 |
| f) | Aggregated information - Price - Volume - Total |
N/A |
| g) | Date of transaction | 21 December 2020 |
| h) | Place of transaction | Off market |
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