COS.L

Collagen Solutions Plc
Collagen Sol PLC - Director/PDMR Shareholding
20th October 2020, 06:03
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RNS Number : 5427C
Collagen Solutions PLC
20 October 2020
 

20 October 2020

 

Collagen Solutions plc

(the "Company")

 

 

Director/PDMR Dealing

 

1.    Exercise of options in connection with Rule 15 proposals made under the UK City Code on Takeovers and Mergers (the "Code")

 

Collagen Solutions plc (AIM: COS), the developer and manufacturer of biomaterials and regenerative medicines for the enhancement and extension of human life, announces that, on 20 October 2020, the executive directors and other persons discharging managerial responsibility ("PDMRs") set out in the table below acquired ordinary shares of 1 pence each in the share capital of the Company ("Shares") pursuant to the exercise of options originally granted under the Collagen Solutions plc 2014 Enterprise Management Incentive Scheme ("EMI Scheme") and the Collagen Solutions plc Deferred Bonus Plan ("DBP").

 

Each of these exercises:

·    was in accordance with proposals made by Rosen's Diversified, Inc. ("RDI") to participants in the EMI Scheme and the DBP under Rule 15 of the Code (the "Rule 15 Proposals") in connection with its recommended cash offer (the "Offer") to acquire the entire issued and to be issued ordinary share capital of the Company not already owned by RDI; and

·    became effective on the Offer being declared unconditional in all respects (as stated by RDI in its announcement this morning).

 

Director/PDMR

Position

Aggregate number of Shares acquired on 20 October 2020

Jamal Rushdy

Chief Executive Officer

3,725,000

Lou Ruggiero

Chief Business Officer

4,100,000

Hilary Spence

Chief Financial Officer

4,336,000

Brad Selman

PDMR / VP Global Sales and Marketing

700,000

Chris Wattengel

PDMR / VP Global R&D

1,250,000

Kevin Darling

PDMR / VP Tissue Products

1,250,000

 

Notes:

1     Details of the prices per Share paid by the individuals in connection with these exercises are set out in the tables at the end of this announcement.

 

The Shares required to satisfy the above exercises (which, in accordance with the terms of the Rule 15 Proposals, will be assented to the Offer) are sourced from the Collagen Solutions plc Employee Benefit Trust.

 

2.    Surrender of underwater options

 

The Company also announces that, on 18 October 2020, it received a notification from Jamal Rushdy (Chief Executive Officer) that he had elected to surrender, for no consideration, options to acquire a total of 6,000,000 Shares that had previously been granted to him pursuant to the EMI Scheme but which had an exercise price in excess of the 6.5p per Share consideration payable under the Offer.

 

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

      Jamal Rushdy

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

Collagen Solutions plc

b)

LEI

213800IFY1CVGRGETL95

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

Ordinary shares of 1p each ("Shares")

Identification code

ISIN Code: GB00B94T6Y14

b)

Nature of the transaction

Acquisition of Shares on the exercise of options granted pursuant to the Collagen Solutions plc 2014 Enterprise Management Incentive Scheme

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

1.

£0.0525

1,700,000

2.

£0.0390

2,025,000

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2020-10-20

f)

Place of the transaction

Outside a trading venue

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

Ordinary shares of 1p each ("Shares")

Identification code

ISIN Code: GB00B94T6Y14

b)

Nature of the transaction

Surrender of "underwater" options over Shares granted pursuant to the Collagen Solutions plc 2014 Enterprise Management Incentive Scheme

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

1.

Nil

3,300,000

2.

Nil

2,700,000

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2020-10-18

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

      Lou Ruggiero

2

Reason for the notification

a)

Position/status

Chief Business Officer

b)

Initial notification/ Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Collagen Solutions plc

b)

LEI

213800IFY1CVGRGETL95

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

Ordinary shares of 1p each ("Shares")

Identification code

ISIN Code: GB00B94T6Y14

b)

Nature of the transaction

Acquisition of Shares on the exercise of options granted pursuant to the Collagen Solutions plc 2014 Enterprise Management Incentive Scheme

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

1.

£0.03625

100,000

2.

£0.03650

2,000,000

3.

£0.03850

1,000,000

4.

£0.03850

1,000,000

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2020-10-20

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

      Hilary Spence

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

Collagen Solutions plc

b)

LEI

213800IFY1CVGRGETL95

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

Ordinary shares of 1p each ("Shares")

Identification code

ISIN Code: GB00B94T6Y14

b)

Nature of the transaction

Acquisition of Shares on the exercise of options granted pursuant to the Collagen Solutions plc 2014 Enterprise Management Incentive Scheme

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

1.

£0.0270

2,000,000

2.

£0.0385

1,000,000

3.

£0.0385

1,000,000

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2020-10-20

f)

Place of the transaction

Outside a trading venue

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

Ordinary shares of 1p each ("Shares")

Identification code

ISIN Code: GB00B94T6Y14

b)

Nature of the transaction

Acquisition of Shares on the exercise of options granted pursuant to the Collagen Solutions plc Deferred Bonus Plan

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

 

nil

336,000

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2020-10-20

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

      Brad Selman

2

Reason for the notification

a)

Position/status

PDMR / VP Global Sales and Marketing

b)

Initial notification/ Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Collagen Solutions plc

b)

LEI

213800IFY1CVGRGETL95

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

Ordinary shares of 1p each ("Shares")

Identification code

ISIN Code: GB00B94T6Y14

b)

Nature of the transaction

Acquisition of Shares on the exercise of options granted pursuant to the Collagen Solutions plc 2014 Enterprise Management Incentive Scheme

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

1.

£0.0575

500,000

2.

£0.0385

200,000

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2020-10-20

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

      Chris Wattengel

2

Reason for the notification

a)

Position/status

PDMR / VP Global R&D

b)

Initial notification/ Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Collagen Solutions plc

b)

LEI

213800IFY1CVGRGETL95

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

Ordinary shares of 1p each ("Shares")

Identification code

ISIN Code: GB00B94T6Y14

b)

Nature of the transaction

Acquisition of Shares on the exercise of options granted pursuant to the Collagen Solutions plc 2014 Enterprise Management Incentive Scheme

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

1.

£0.0525

500,000

2.

£0.0385

750,000

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2020-10-20

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

      Kevin Darling

2

Reason for the notification

a)

Position/status

PDMR / VP Tissue Products

b)

Initial notification/ Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Collagen Solutions plc

b)

LEI

213800IFY1CVGRGETL95

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

Ordinary shares of 1p each ("Shares")

Identification code

ISIN Code: GB00B94T6Y14

b)

Nature of the transaction

Acquisition of Shares on the exercise of options granted pursuant to the Collagen Solutions plc 2014 Enterprise Management Incentive Scheme

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

1.

£0.05625

500,000

2.

£0.03850

750,000

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2020-10-20

f)

Place of the transaction

Outside a trading venue

 

Enquiries: 

Collagen Solutions Plc

Contact via Walbrook

Jamal Rushdy, CEO   


Hilary Spence, CFO




Cenkos Securities plc (Nominated Adviser and Broker)


Giles Balleny (Corporate Finance)

Tel: 0207 397 8900

Stephen Keys




Walbrook PR

Tel: 020 7933 8780 or collagen@walbrookpr.com

Anna Dunphy

Mob: 07876 741 001

 

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