Abingdon Health PLC (AIM:ABDX) Award of Options under new LTIP Scheme

York, U.K. 19 December 2022: Abingdon Health plc (AIM: ABDX), a leading international developer and manufacturer of high quality, rapid diagnostic tests, announces the establishment of a new Long Term Incentive Plan (“LTIP” or the “Plan”) for 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.

The new LTIP replaces the long term incentive plan established at the time of the Company’s admission to AIM (“Existing Options”) which has lapsed.

New Long Term Incentive Plan

Under the terms of the new LTIP, the Company has awarded share options (“Options”) over a total of 4,119,285 ordinary shares of 0.025 pence each (“Ordinary Shares”) to certain directors and senior management. There will be a three-year vesting period and options may be exercised at a price of 7 pence per Ordinary Share (being an 86 per cent. premium to the closing price on 16 December 2022). Vesting of the Options is conditional upon the business achieving certain revenue and adj. EBITDA performance criteria. The Options will become exercisable between 19 December 2025 and 19 December 2032.

The following individuals (each a person discharging managerial responsibilities (“PDMR”)) have been awarded options:



No. of options awarded

No. of Existing Options Lapsed

Chris Yates

Chief Executive Officer



Melanie Ross

Chief Financial Officer


Chris Hand

Non-Executive Chairman


Mark Jones

Chief Operating Officer


Nina Garrett

R&D Director


Candice Vendetuolli

Head of QARA


Natalie Thrush

Head of HR


Concert Party

Both Chris Yates and Chris Hand are deemed to be part of a concert party comprising certain directors, employees, former employees and other shareholders (the “Concert Party”). Where a Rule 9 Mandatory Offer would be required as a result of any future exercise, Chris Hand and Chris Yates have each confirmed in such circumstances that they would be prepared to irrevocably commit to immediately sell any new shares created ahead of exercise. In such circumstances, this would mean that their interests and the interest of the wider Concert Party in the Company would reduce as a result of the dilution created from the new shares issued, thereby meaning that a Mandatory Offer under Rule 9 would not be required. The Company has consulted with the Takeover Panel prior to implementation of the new LTIP.

As a result of these changes, the Company now has outstanding options over 4,333,858 Ordinary Shares equal to approximately 3.5 per cent. of the Company’s issued share capital.


Abingdon Health plc


Chris Yates, Chief Executive Officer

Via Walbrook PR

Melanie Ross , Chief Financial Officer


Chris Hand, Non-Executive Chairman

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