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Microsaic Systems plc. (1/14/16). "Press Release: Grant of Share Options".

Organisations Organisation Microsaic Systems plc (AIM: MSYS)
  Organisation 2 Citigate Dewe Rogerson Ltd.
  Group Huntsworth (Group)
Products Product 4000 MiD® desktop MS system
  Product 2 ionchip® technology
Persons Person Ramage, Jim (Microsaic 201512–201705 CEO before non-exec Director + Tesla Engineering + VG Instruments RESIGNED 5/17)
  Person 2 Metcalf, Bevan John (Microsaic 201512– Finance Director before Beowulf Mining + Afferro + African Eagle + Orion + GSK)
     


Microsaic Systems plc (AIM: MSYS), the developer of miniaturised chip-based scientific instruments, announces that share options were granted on the 13 January 2016 over 995,000 ordinary shares of 0.25 pence, representing approximately, 1.4% of the share capital of the Company.


The allocation to Directors is as follows:

Director
Position
Options Granted
Total Options Held

Jim Ramage
Chief Executive Officer
500,000
500,000

Glenn Tracey
Chief Operating Officer
200,000
300,000

Bevan Metcalf
Finance Director
120,000
120,000

These share options were granted under the Microsaic Systems Enterprise Management Incentive Scheme with an exercise price of 23.5 pence per ordinary share, being the closing mid-market price of the Company's shares on 12 January 2016. The options granted to Mr Ramage will vest on 1 January 2017. The options granted to Mr Tracey and Mr Metcalf will vest on the third anniversary of the date of grant.

A total of 175,000 share options were granted to other employees and a consultant of the Company. 100,000 of these share options were granted under the Microsaic Systems Enterprise Management Incentive Scheme with an exercise price of 23.5 pence per ordinary share, being the closing mid-market price of the Company's shares on 12 January 2016. These options vest on the third anniversary of the date of grant. The remaining 75,000 share options were issued to a consultant of the Company under the Microsaic Systems Unapproved Share Option Scheme with an exercise price of 23.5 pence per ordinary share, being the closing mid-market price for the Company's shares on 12 January 2016 and vest on 1 January 2017.

The options granted are not subject to performance criteria.


Contacts

Microsaic Systems
Colin Nicholl, Chairman
Jim Ramage, CEO
Via Citigate Dewe Rogerson

Numis Securities Limited
Stuart Skinner (Nominated Adviser)
James Serjeant (Broker)
+44 (0)20 7260 1000

Citigate Dewe Rogerson
Mark Swallow, Marine Perrier
+44 (0)20 7282 2948/1068


About Microsaic Systems

Microsaic Systems plc is a high technology company developing and marketing next generation mass spectrometry (MS) instruments for the analysis of gaseous, liquid and solid samples. Microsaic has successfully miniaturised mass spectrometry into a desktop instrument by integrating the key MS components onto patented chip technologies (called ionchip®, spraychip® and vac-chip™). Microsaic’s MS products retain the functionality of larger, conventional MS systems but are substantially smaller, lighter, consume less energy and have lower running costs. The Microsaic 4000 MiD® is the world’s smallest MS system.

Mass spectrometry is a ‘gold-standard’ analytical technique used across many industry sectors, including pharmaceutical, diagnostics and healthcare, government, energy, utilities, environmental, food and drink, security and defence, and industrial chemicals - a combined market estimated to grow to $2.5 billion by 2017. Microsaic aims to introduce compact, deployable MS products, based on its core technology, into a series of these target markets.

Microsaic Systems was established in 2001 by a team including founders from Imperial College London, and was admitted to AIM in April 2011 under the symbol MSYS.
www.microsaic.com

   
Record changed: 2017-07-02

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