LOMBARD MEDICAL TECHNOLOGIES PLC 
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Lombard Medical Technologies PLC
("Lombard Medical" or the "Company")
Share Option Grant
London, UK, 26 September 2013 - Lombard Medical Technologies PLC (AIM:LMT), the specialist medical technology company focussed on innovative vascular products, announces that it has yesterday, under the Company's Share Option Plan (2005), granted 335,573 new share options over ordinary shares of 20p each in the Company, to Raymond Cohen, its Chairman. The options have an exercise price of 168 pence per share and represent 0.75% of the Company's issued shares, Raymond Cohen's total holding of share options in the Company.
The vesting of the share options will be subject to certain performance criteria that have been determined by the Company's Remuneration Committee to reflect the Company's current and future business plans and are based on the achievement by the Company of a majority of budgeted revenue. On achievement of the performance criteria, one third of the options will vest in April 2014, 2015 and 2016.
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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 |
Lucy Tilley / Henry Fitzgerald O'Connor / Dr. Julian Feneley | |
FTI Consulting | Tel: 020 7831 3113 |
Simon Conway / Susan Stuart / Victoria Foster Mitchell |
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.
This information is provided by RNS
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