4basebio PLC has announced the award of 5,520 ordinary shares to the Employees Benefit Trust (EBT) as part of the employee long-term incentive plan. The EBT, operated by Fiduchi Trustees (UK) Limited, will hold the shares on behalf of the employees and will be subject to vesting criteria. The awards of shares will be calculated based on the mid-market closing price on the day of the award. The senior management of the Company will not be included in this program.
The EBT will hold a total of 5,520 shares in the Company, equivalent to 0.043 per cent of the Company's issued share capital, representing awards to 48 eligible employees. The EBT Shares will be fully paid and will rank pari passu in all respects with the existing ordinary shares of the Company, including the right to receive all dividends and other distributions declared, made, or paid after the date of issue.
Application has been made for the EBT Shares to be admitted to trading on AIM, and the admission and settlement of the EBT Shares are expected to take place at 8.00 a.m. on 19 July 2024. Following Admission, the total number of ordinary shares in issue will be 12,810,728. The Company does not hold any ordinary shares in treasury.
4basebio PLC is an innovation-driven life biotechnology company focused on accelerating the development of advanced therapy medicinal products (ATMPs) through its high-performance synthetic DNA products and non-viral, cell targeting nucleic acid delivery platform. The Company's objective is to become a market leader in the manufacture and supply of high-quality synthetic DNA products for research, therapeutic, and pharmacological use, as well as the development of target-specific non-viral vectors for the efficient delivery of payloads in patients.