Circassia Pharmaceuticals : Grant of Options

Grant of options

Oxford, UK - 19 December 2019:Circassia Pharmaceuticals plc ('Circassia' or 'the Company'; LSE: CIR), a specialty biopharmaceutical company focused on respiratory disease, announces that it has granted nil-cost options ('Options') today over 4,322,767 ordinary shares in the Company ('Ordinary Shares') to Ian Johnson, who was appointed as Executive Chairman of the Company on 5 December 2019, under the 2019 Performance Share Plan.

The Options have been granted at nil-cost and will vest on the third anniversary of the date of grant and are exercisable until the tenth anniversary of the date of grant. Vesting is subject to either the share price reaching 62.4p, equating to three times the average closing price for an Ordinary Share for the 10 dealing days immediately preceding the grant date, for at least 30 consecutive dealing days or a liquidity event occurring above this level.

Should some or all of the Options be exercised, the Ordinary Shares will be purchased on the open market by The Circassia Pharmaceuticals plc Employee Benefit Trust on behalf of Mr Johnson.

Contacts

Circassia Steve Harris, Chief Executive Officer Julien Cotta, Chief Financial Officer Rob Budge, Corporate Communications	Tel: [phone]
Peel Hunt (Nominated Adviser and Joint Broker) James Steel / Dr Christopher Golden	Tel: [phone]
finnCap (Joint Broker) Geoff Nash / Alice Lane	Tel: [phone]
Numis Securities (Joint Broker) James Black / Freddie Barnfield	Tel: [phone]
FTI Consulting Simon Conway / Ciara Martin	Tel: [phone]

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	Ian Johnson
2.	Reason for the notification
a.	Position/status	Executive Chairman
b.	Initial notification /Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Circassia Pharmaceuticals plc
b.	LEI	2138006YAT138TOGA556
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 Identification code	Options over Ordinary shares of 0.08p each. GB00BJVD3B28
b.	Nature of the transaction	Award of share options granted under the 2019 Performance Share Plan over Ordinary Shares in Circassia
c.	Price(s) and volume(s)	Price(s) Volume(s) nil 4,322,767
d.	Aggregated information · Aggregated volume · Price	n/a
e.	Date of the transaction	19 December 2019
f.	Place of the transaction	Outside a trading venue