Vesting and Award of Options under LTIP
Abingdon Health plc announced updates regarding its Long Term Incentive Plan (LTIP), with 16% of FY23 LTIPs vesting based on FY25 revenue and EBITDA targets, resulting in 512,800 options vested at a 7 pence exercise price, while 2,692,199 LTIP shares lapsed. Additionally, new nil-cost LTIPs totaling 3,361,000 shares have been awarded, vesting around October 2028, contingent on achieving FY28 revenue and EBITDA targets. The total outstanding LTIP share options, after accounting for lapsed FY23 options, stand at 10,090,570, representing 3.86% of ordinary shares post-exercise.
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York, UK 4 December 2025: Abingdon Health plc (AIM: ABDX), a leading international developer, manufacturer and regulatory services provider for rapid diagnostic tests and med-tech, announces updates, under the terms of the existing Long Term Incentive Plan established in December 2022 ("LTIP" or the "Plan"). The Plan issues share options ("Options") over ordinary shares of 0.025 pence each ("Ordinary Shares") to certain directors and senior management, in order to incentivise and encourage retention in a manner that aligns with the interests of the Company's shareholders.
Regarding the FY23 LTIP, 16% of the LTIPs awarded in December 2022 have now vested against performance criteria for the financial year ended 30 June 2025 ("FY25"), based on revenue and EBITDA targets. A total of 512,800 shares with an exercise price of 7 pence have vested as illustrated below, with 2,692,199 LTIP shares from the FY23 scheme lapsing.
| PDMR | Role | Options vested and exercisable under the FY23 LTIP (FY23-FY25 inclusive) | Lapsed LTIP under the FY23 LTIP |
|---|---|---|---|
| Chris Hand | Executive Chairman | 68,571 | 360,000 |
| Chris Yates | Chief Commercial Officer President, Abingdon Health USA | 205,714 | 1,080,000 |
| Mark Jones | Chief Operating Officer | 96,000 | 504,000 |
| Nina Garrett | Chief Technical Officer | 82,400 | 432,600 |
| Candice Vendettuoli | Director of QARA | 45,714 | 240,000 |
| Natalie Thrush | Chief of Staff/Head of HR | 14,400 | 75,600 |
In addition, under the terms of the Plan, the Company has awarded new nil cost LTIPs totalling 3,361,000 shares which will vest circa October 2028, following publication of audited accounts for the financial year ending 30 June 2028 ("FY28"), and subject to achieving performance targets based on revenue and EBITDA for performance in FY28. 50% of these new awards are based on achieving revenue targets and 50% are based on EBITDA targets.
New and existing LTIPs are summarised below:
| PDMR | Role | Existing LTIPs less those lapsed from FY23 | New FY26 LTIPs | Total less lapsed FY23 |
|---|---|---|---|---|
| Chris Hand | Executive Chairman | 1,298,057 | 946,000 | 2,244,057 |
| Tom Hayes | Chief Financial Officer | 660,000 | 660,000 | 1,320,000 |
| Chris Yates | Chief Commercial Officer President, Abingdon Health USA | 2,002,173 | 555,000 | 2,557,173 |
| Mark Jones | Chief Operating Officer | 997,376 | 300,000 | 1,297,376 |
| Nina Garrett | Chief Technical Officer | 839,556 | 300,000 | 1,139,556 |
| Candice Vendettuoli | Director of QARA | 549,200 | 300,000 | 849,200 |
| Natalie Thrush | Chief of Staff/Head of HR | 383,207 | 300,000 | 683,207 |
The total LTIP share options outstanding, less those which have now lapsed from the FY23 scheme, from FY23, FY24, FY25 and FY26 is 10,090,570. If all these LTIP options were to vest and be exercised this equates to 3.86% of ordinary shares post exercise of options.
| a) | Name: | Chris Hand | |
| 2 | Reason for the notification | ||
| a) | Position/Status: | Executive Chairman | |
| b) | Initial Notification/Amendment: | Initial Notification | |
| a) | Name: | Abingdon Health plc | |
| b) | LEI: | 213800XFI4WV3FBILO20 | |
| a) | Description of the financial instrument: Identification code: | Ordinary Shares of 0.025 pence each GB00BLF79J41 | |
| b) | Nature of the transaction: | Award of LTIP Options | |
| c) | Price(s) and volume(s): | Price(s) | Volume(s) |
| Nil | 946,000 | ||
| d) | Aggregated volume: Price: | See above | |
| e) | Date of the Transaction: | 3 December 2025 | |
| f) | Place of the Transaction: | Outside a trading venue | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name: | Chris Yates | |
| 2 | Reason for the notification | ||
| a) | Position/Status: | Chief Commercial Officer / President, Abingdon Health USA | |
| b) | Initial Notification/Amendment: | Initial Notification | |
| a) | Name: | Abingdon Health plc | |
| b) | LEI: | 213800XFI4WV3FBILO20 | |
| a) | Description of the financial instrument: Identification code: | Ordinary Shares of 0.025 pence each GB00BLF79J41 | |
| b) | Nature of the transaction: | Award of LTIP Options | |
| c) | Price(s) and volume(s): | Price(s) | Volume(s) |
| Nil | 555,000 | ||
| d) | Aggregated volume: Price: | See above | |
| e) | Date of the Transaction: | 3 December 2025 | |
| f) | Place of the Transaction: | Outside a trading venue | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name: | Tom Hayes | |
| 2 | Reason for the notification | ||
| a) | Position/Status: | Chief Financial Officer | |
| b) | Initial Notification/Amendment: | Initial Notification | |
| a) | Name: | Abingdon Health plc | |
| b) | LEI: | 213800XFI4WV3FBILO20 | |
| a) | Description of the financial instrument: Identification code: | Ordinary Shares of 0.025 pence each GB00BLF79J41 | |
| b) | Nature of the transaction: | Award of LTIP Options | |
| c) | Price(s) and volume(s): | Price(s) | Volume(s) |
| Nil | 660,000 | ||
| d) | Aggregated volume: Price: | See above | |
| e) | Date of the Transaction: | 3 December 2025 | |
| f) | Place of the Transaction: | Outside a trading venue | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name: | Mark Jones | |
| 2 | Reason for the notification | ||
| a) | Position/Status: | Chief Operating Officer | |
| b) | Initial Notification/Amendment: | Initial Notification | |
| a) | Name: | Abingdon Health plc | |
| b) | LEI: | 213800XFI4WV3FBILO20 | |
| a) | Description of the financial instrument: Identification code: | Ordinary Shares of 0.025 pence each GB00BLF79J41 | |
| b) | Nature of the transaction: | Award of LTIP Options | |
| c) | Price(s) and volume(s): | Price(s) | Volume(s) |
| Nil | 300,000 | ||
| d) | Aggregated volume: Price: | See above | |
| e) | Date of the Transaction: | 3 December 2025 | |
| f) | Place of the Transaction: | Outside a trading venue | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name: | Nina Garrett | |
| 2 | Reason for the notification | ||
| a) | Position/Status: | Chief Technical Officer | |
| b) | Initial Notification/Amendment: | Initial Notification | |
| a) | Name: | Abingdon Health plc | |
| b) | LEI: | 213800XFI4WV3FBILO20 | |
| a) | Description of the financial instrument: Identification code: | Ordinary Shares of 0.025 pence each GB00BLF79J41 | |
| b) | Nature of the transaction: | Award of LTIP Options | |
| c) | Price(s) and volume(s): | Price(s) | Volume(s) |
| Nil | 300,000 | ||
| d) | Aggregated volume: Price: | See above | |
| e) | Date of the Transaction: | 3 December 2025 | |
| f) | Place of the Transaction: | Outside a trading venue | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name: | Candice Vendettuoli | |
| 2 | Reason for the notification | ||
| a) | Position/Status: | Director of QARA | |
| b) | Initial Notification/Amendment: | Initial Notification | |
| a) | Name: | Abingdon Health plc | |
| b) | LEI: | 213800XFI4WV3FBILO20 | |
| a) | Description of the financial instrument: Identification code: | Ordinary Shares of 0.025 pence each GB00BLF79J41 | |
| b) | Nature of the transaction: | Award of LTIP Options | |
| c) | Price(s) and volume(s): | Price(s) | Volume(s) |
| Nil | 300,000 | ||
| d) | Aggregated volume: Price: | See above | |
| e) | Date of the Transaction: | 3 December 2025 | |
| f) | Place of the Transaction: | Outside a trading venue | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name: | Natalie Thrush | |
| 2 | Reason for the notification | ||
| a) | Position/Status: | Chief of Staff / Head of HR | |
| b) | Initial Notification/Amendment: | Initial Notification | |
| a) | Name: | Abingdon Health plc | |
| b) | LEI: | 213800XFI4WV3FBILO20 | |
| a) | Description of the financial instrument: Identification code: | Ordinary Shares of 0.025 pence each GB00BLF79J41 | |
| b) | Nature of the transaction: | Award of LTIP Options | |
| c) | Price(s) and volume(s): | Price(s) | Volume(s) |
| Nil | 300,000 | ||
| d) | Aggregated volume: Price: | See above | |
| e) | Date of the Transaction: | 3 December 2025 | |
| f) | Place of the Transaction: | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.