Corporate News
Share Incentive Plan
08 November 2022
1. Establishment of the Omega Diagnostics Group PLC Share Incentive Plan
Omega (AIM: ODX), the specialist medical diagnostics company focused on promoting a personalised and functional approach to health and nutrition, announces the establishment and launch of a new HMRC tax-advantaged share scheme, namely the Omega Diagnostics Group PLC Share Incentive Plan (the “SIP” or the “Plan”).
The SIP, which was entered into in late September, has been adopted to support the principles of wider share ownership amongst all the Company’s employees. It allows eligible individuals (including Omega’s executive directors) to be invited to purchase ordinary shares of 4 pence each in the capital of the Company ("Ordinary Shares") via the SIP trustee using salary deductions (which, in aggregate, cannot exceed £1,800 per employee over any one tax year). The Ordinary Shares acquired in this manner are referred to as “Partnership Shares” and, for each Partnership Share purchased, participants are awarded one further free Ordinary Share, known as a “Matching Share.”
Matching Shares must normally be held in the SIP for a minimum holding period of 3 years and will usually be forfeited if, during that period, the participant in question ceases employment or withdraws their corresponding Partnership Shares from the Plan.
2. Initial purchase of Partnership Shares and award of Matching Shares
On 7 November 2022, the Company received notification from Link Market Services Trustees Limited, the trustee of the SIP, that, on 7 November 2022, it purchased an aggregate of 130,908 Partnership Shares in the market at a price of 2.75p per share on behalf of those Directors set out in the table below. At the same time, these individuals were also awarded (for no consideration) their corresponding Matching Shares.
| Director | Board Position | Number of Partnership Shares acquired under the SIP on 7 November 2022 | Number of Matching Shares acquired under the SIP on 7 November 2022 | Total beneficial holding of Ordinary Shares following these acquisitions | |
|---|---|---|---|---|---|
| Number of Ordinary Shares | Approximate % of Company’s issued share capital | ||||
| Jag Grewal | CEO | 65,454 | 65,454 | 1,025,834 | 0.43% |
| Chris Lea | CFO | 65,454 | 65,454 | 1,030,908 | 0.43% |
The salary deductions used by each of the above-noted Directors to acquire their Partnership Shares amounted to £1,800, being the maximum level of contribution that can be made to the SIP by an individual in any single tax year.
Contacts:
| Omega Diagnostics Group PLC | www.omegadx.com |
| Jag Grewal Chief Executive Officer | via Walbrook PR |
| Chris Lea, Chief Financial Officer | |
| finnCap Ltd | Tel: 020 7220 0500 |
| Geoff Nash/Edward Whiley/George Dollemore (Corporate Finance) | |
| Alice Lane/ Charlotte Sutcliffe (ECM) | |
| Walbrook PR Limited | Tel: 020 7933 8780 or [email protected] |
| Paul McManus | Mob: 07980 541 893 |
| Sam Allen | Mob: 07502 558 258 |
| Lianne Applegarth | Mob: 07584 391 303 |
About Omega Diagnostics Group PLC
Omega (AIM: ODX) is a specialist medical diagnostics company focused on promoting a personalised and functional approach to health and nutrition. www.omegadx.com
Notification of transactions of persons discharging managerial responsibilities and persons closely associated with them
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
|---|---|---|---|---|---|---|
| a) | Name | Jag Grewal | ||||
| 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) | Name | Omega Diagnostics Group PLC | ||||
| b) | LEI | 2138007U9P4BTZTYIR92 | ||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transacti conducted on; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of 4 pence each ("Ordinary Shares") ISIN: GB00B1VCP282 | ||||
| b) | Nature of the transaction | Ordinary Shares purchased under the "Partnership Share" element of the Company's all-employee Share Incentive Plan. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information -Aggregated volume - Price | Not applicable | ||||
| e) | Date of the transaction | 2022-11-7 | ||||
| f) | Place of the transaction | London Stock Exchange | ||||
| 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 | Ordinary Shares of 4 pence each ("Ordinary Shares") ISIN: GB00B1VCP282 | ||||
| b) | Nature of the transaction | Ordinary Shares awarded under the "Matching Share" element of the Company's all-employee Share Incentive Plan. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information -Aggregated volume - Price | Not applicable | ||||
| e) | Date of the transaction | 2022-11-7 | ||||
| f) | Place of the transaction | London Stock Exchange | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
|---|---|---|
| a) | Name | Chris Lea |
| | ||||||
| 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) | Name | Omega Diagnostics Group PLC | ||||
| b) | LEI | 2138007U9P4BTZTYIR92 | ||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transacti conducted on; (iii) each date; and (iv) each place where transactions have been | |||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of 4 pence each ("Ordinary Shares") ISIN: GB00B1VCP282 | ||||
| b) | Nature of the transaction | Ordinary Shares purchased under the "Partnership Share" element of the Company's all-employee Share Incentive Plan. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information -Aggregated volume - Price | Not applicable | ||||
| e) | Date of the transaction | 2022-11-7 | ||||
| f) | Place of the transaction | London Stock Exchange | ||||
| 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 | Ordinary Shares of 4 pence each ("Ordinary Shares") ISIN: GB00B1VCP282 | ||||
| b) | Nature of the transaction | Ordinary Shares awarded under the "Matching Share" element of the Company's all-employee Share Incentive Plan. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information -Aggregated volume - Price | Not applicable | ||||
| e) | Date of the transaction | 2022-11-7 | ||||
| f) | Place of the transaction | London Stock Exchange | ||||
