Lombard Medical Technologies PLC

("Lombard Medical" or the "Company")

Share Option Grant

London, UK, 5 April 2012 - Lombard Medical Technologies PLC (AIM:LMT), the specialist medical technology company focussed on innovative vascular products, announces that it has today, under the Company's Share Option Plan (2005), granted 201,618 new share options over ordinary shares of 20p each in the Company, at an exercise price of 145 pence per share, to Ian Ardill, its Chief Financial Officer.

A third of the share options will vest on 1 October 2012 subject to the Company having received full FDA approval for Aorfix™ (i.e. approval to treat patients with aneurysm neck angulations of 0° to 90°) by that time. If the Company has only received partial FDA approval for Aorfix™ (i.e. approval to treat only those patients with neck angulations of 60° to 90°) the number of options vesting will be reduced by 25%.

On 1 August 2013 a further third of the options will vest provided the Company meets its target Aorfix™ sales revenues for the year ended 30 June 2013. If Aorfix™ sales revenues are less than 75% of target no options vest but if they are 75% of target 50% vest and the percentage vesting increases up to 100% in direct correlation to the amount by which Aorfix™ sales revenues exceed 75% of target.

The remaining third of the share options will vest on 1 August 2014 subject to the Company achieving its target sales revenues for the year ended 30 June 2014. As for those options vesting in 2013 a proportion of the share options will vest if Aorfix™ sales revenues are 75% or more of target.

-Ends-

Enquiries:

Lombard Medical Technologies PLC

Tel: 01235 750 800

Simon Hubbert, Chief Executive Officer 


Ian Ardill, Chief Financial Officer




Canaccord Genuity Limited

Tel: 020 7523 8000

Jamie Adams / Mark Dickenson / Nick Stamp




FTI Consulting


Jonathan Birt/ Simon Conway/ Susan Quigley

Tel: 020 7831 3113

About Lombard Medical

Lombard Medical Technologies PLC (AIM: LMT), is a medical device company focused on device solutions for the $1.2 billion dollar per annum abdominal aortic aneurysm (AAA) repair market. AAAs are a balloon-like enlargement of the aorta which, if left untreated, may rupture and cause death.  Approximately 4.5 million people are living with AAAs in the developed world and each year 600,000 new cases are diagnosed. The market for endovascular stent grafts for this application is expected to grow to $1.6 billion by 2015.  The Company's lead product, Aorfix™, is an endovascular stent graft which has been specifically designed to solve the problems that exist in treating complex tortuous anatomy which is often present in advanced AAA disease.  Aorfix™ is currently being commercialised in the EU, and has been submitted to the FDA for approval in the U.S. 

The Company is headquartered in Oxfordshire, with operations in Ayrshire and Phoenix, USA.

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