TISSUE REGENIX GROUP PLC — Share Issue/Capital Change 2014

Feb 4, 2014

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RNS Number : 2821Z

Tissue Regenix Group PLC

04 February 2014

Tissue Regenix Group plc

Issue of Share Options

YORK, 4 February 2014 -  Tissue Regenix Group plc (AIM:TRX) ("Tissue Regenix" or "the Group"), the international regenerative medical devices company, announces that on 3rd February 2014 it granted new share options over ordinary shares of 0.5p to executive directors as follows:

Director name	Number of new options granted	Total number of options now held	% of issued share capital represented by options now held
John Samuel, Executive Chairman (1)	666,667	3,066,667	0.5%
Antony Odell, Managing Director (2)	1,000,000	10,494,808	1.6%
Ian Jefferson, Chief Financial Officer (3)	700,556	1,573,283	0.2%

(1)       John Samuel also has a shareholding of 13,536,928 ordinary shares and has a beneficial interest in 10,740,000 ordinary shares, in total representing approximately 3.7% of the issued share capital.

(2)       Antony Odell also has a shareholding of 200,000 ordinary shares and has a beneficial interest in 5,372,800 ordinary shares, in total representing approximately 0.9% of the issued share capital.

(3)       Ian Jefferson also has a shareholding of 181,818 ordinary shares and has a beneficial interest in 827,586 ordinary shares, representing approximately 0.2% of the issued share capital

The new options have been granted under the Company's EMI option scheme and unapproved option scheme.  The exercise price of the options is 22.5p and the options are subject to performance conditions as set out below.

Performance criteria

Under the terms of the options, interests will vest in equal proportions on or after the three consecutive annual anniversaries of the date of grant subject to the Company's share price on AIM reaching particular target values and remaining at those values, for at least 30 consecutive days each, as follows:

End Of Year	% Of Interest To Vest	Share Price Criteria
1	33.33%	30p
2	33.33%	40p
3	33.33%	50p

Following the grant of the new options:

·     The total number of ordinary shares under option, held by directors, which could be issued is 15,134,758 representing approximately 2.3% of the current issued share capital of the Company. 

·     The total number of ordinary shares in which the directors have a beneficial interest is 16,940,386 representing approximately 2.6% of the current issued share capital

At the date of this announcement the Company had a total of 23,044,958 shares under option and a total of 16,940,386 shares in issue over which there was a beneficial interest. 

The issued share capital of the Company comprises 653,487,357 ordinary shares of 0.5p each.

For Further Information

Tissue Regenix Group Plc:                                                           +44 19 0443 5176

Antony Odell

Ian Jefferson

Jefferies International Ltd:                                                         +44 20 7029 8000

Simon Hardy

Harry Nicholas

Newgate Communications:                                                        +44 207 680 6550

Alistair Kellie                                                                                   

Andrew Jones                                                                  

About Tissue Regenix

Tissue Regenix is a leading medical devices company in the field of regenerative medicine. The company's patented decellularisation ('dCELL®') technology removes DNA and other cellular material from animal and human tissue leaving an acellular tissue scaffold which is not rejected by the patient's body which can then be used to repair diseased or worn out body parts. The potential applications of this process are diverse and address many critical clinical needs such as vascular disease, heart valve replacement and knee repair.

Tissue Regenix was formed in 2006 when it was spun-out from the University of Leeds. The company commercialises academic research conducted by our partners around the World.

In November 2012 Tissue Regenix Group plc set up a subsidiary company in the United States- 'Tissue Regenix Wound Care Inc.', as part of its commercialisation strategy for its dCELL® technology platform.

This information is provided by RNS

The company news service from the London Stock Exchange

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