LiDCO Group Plc

(“LiDCO” or the “Company”)

Grant of share options/PDMR dealing

LiDCO (AIM: LID), a leading supplier of hemodynamic monitoring solutions, announces that on 29 April 2020, the Board has agreed to grant options (the “Options”) over ordinary shares of 0.5 pence each in the Company (“Ordinary Shares”) to Tim Hall, Chief Financial Officer, as follows:

Performance conditions attached to the Options are described more fully in the notes below.

Prior to the grant of the above Options, Mr. Hall held options over 2,000,000 Ordinary Shares.  Following the grant of the Options, Mr. Hall therefore now holds, in aggregate, options over 4,000,000 Ordinary Shares representing approximately 1.64 per cent. of the current issued share capital of the Company.

Additionally, on 29 April 2020, the Board agreed to grant share option to other key employees over a further 400,000 Ordinary Shares.

Following these grants, the Company will have a total of 21,768,340 share options outstanding, representing approximately 8.92% of the existing issued share capital of the Company.

As previously stated in the Directors Remuneration Report of the 2019/20 Annual Report, the measurement period for several share option grants issued to Mr Sassone, CEO, in April 2017 have been amended and as such no further options are being granted to Mr Sassone at this time. 

Performance conditions attaching to the Options are as follows:

For each of the (A) and (B) awards, the proportion of the Options that vest depends on the average share price in the three month period to and including the first date of the relevant Exercise Window shown below (the “Average Share Price”).  Provided the Average Share Price meets or exceeds the minimum price shown, then 15% of the options under that award become exercisable.  If the Average Share Price is between the minimum threshold and the maximum vesting price, a straight-line sliding scale applies to determine the vested proportion of that award.

Further information is disclosed in the table below in accordance with the requirements of the EU Market Abuse Regulation.

For further information, please contact:

About LiDCO Group Plc (www.lidco.com)

LiDCO is a supplier of non-invasive and minimally invasive hemodynamic equipment to hospitals used to monitor the amount of blood flowing around the body and ensure that vital organs are adequately oxygenated. LiDCO’s products facilitate the application of hemodynamic optimisation protocols for high risk patients in both critical care units and in the operating theatre. 

Increasingly clinical studies have shown that the optimisation of patients’ hemodynamic status in high risk patients produces better outcomes and reduced hospital stay.  LiDCO’s computer-based technology, developed originally at St Thomas’ Hospital in London, has been shown to significantly reduce morbidity and complications, length of stay and overall costs associated with major surgery.

In critical care, LiDCO’s products have various in-built guided clinical protocols such as an end expiratory occlusion test (EEOT) and a tidal volume challenge (TVC), as a means to assess a patient’s fluid status. These methods have been referenced by key opinion leaders as an important part of the treatment pathway for ventilated patients with the Covid-19 coronavirus in critical care. 

Key Products:

LiDCOunity: a hemodynamic monitor that combines the full suite of LiDCO technology (non-invasive, minimally invasive and calibrated technologies) into one platform. Designed to have the flexibility to adapt to a patient’s changing acuity, the product enables clinicians to seamlessly transition between non-invasive, minimally invasive and calibrated hemodynamic monitoring.

LiDCOplus: a computer-based platform monitor used in the Intensive Care Unit for real-time continuous display of hemodynamic parameters including cardiac output, oxygen delivery and fluid-volume responsiveness (PPV% and SVV%).

LiDCOrapid: a cardiac output monitor designed specifically for use in the operating theatre for fluid and drug management. The monitor enables anaesthetists to receive accurate and immediate feedback on the patient’s fluid and hemodynamic status – a key measure of overall well-being before, during and after surgery.  The LiDCOrapid provides:

·    early and rapid warning of hemodynamic change to aid choice of therapeutic route: fluid or drug

·    quantification of hemodynamic response guidance on effective delivery of fluids to ensure the right amount at the right time

The software incorporated into LiDCOrapid allows the LiDCOrapid monitor to co-display Medtronic’s level of consciousness parameter (‘BIS^TM’)* and add the convenience of CNSystem’s continuous non-invasive blood pressure monitoring (‘CNAP’)**. This addresses a growing requirement for non-invasive monitoring solutions that are more comprehensive and can effectively replace multiple single parameter monitors. 

LiDCOview: an easy-to-use graphical display of historical LiDCOplus and LiDCOrapid hemodynamic data.

*BIS^TM and Bispectral Index are trademarks of Medtronic registered in the US and foreign countries.

**CNAP^TM is a trademark of CNSystems Medizintechnik AG.

LiDCO monitors use single-patient disposables (sensors or smartcards) which provide an ongoing revenue stream. 

LiDCO Distribution Network:

LiDCO sells directly to hospitals in the UK and USA and through a network of specialty critical care and anaesthesia distributors in the rest of the world.

LiDCO’s headquarters are in London and its shares are traded on AIM.