Aptamer Group (LSE:APTA) has issued almost 13 million new ordinary shares as remuneration for two directors while introducing a substantial new share option programme designed to incentivise its board and employees during the company’s next phase of development.
The company has issued 12,936,511 new ordinary shares to compensate Non-Executive Chairman Adam Hargreaves, through Pathcelerate Limited, and Non-Executive Director Tim Sykes for services provided during the year ended 30 June 2026.
Following the issuance, Pathcelerate’s beneficial interest will increase to 5.56% of Aptamer’s enlarged share capital, while Sykes will hold 0.47%. Admission of the new fee shares to trading on AIM is expected around 19 August 2026.
New option scheme covers 25% of enlarged share capital
Alongside the director remuneration shares, Aptamer has established a new incentive scheme comprising 863,785,988 share options, equivalent to 25% of the company’s enlarged issued share capital.
The options have been divided among executive directors, non-executive directors and employees, with a further portion retained as an unallocated pool for future awards.
The scheme incorporates multiple vesting stages and performance conditions, including targets linked to Aptamer’s share price. It replaces the previous option awards made in December 2024 and is intended to support staff retention while aligning potential rewards with the company’s strategic and market performance.
In the event of a change of control, all options that are in the money would become eligible to vest, making the incentive arrangements a potentially relevant consideration in any future corporate transaction.
Commercial progress supports incentive strategy
Aptamer has introduced the new scheme as it works to expand the commercial reach of its Optimer technology and develop a larger stream of recurring and passive revenues.
The company now works with 85% of the world’s 20 largest pharmaceutical companies and has begun converting successful development programmes into longer-term commercial opportunities.
In December 2025, Aptamer secured its first two licensing agreements with Twist Bioscience and Alphazyme. These agreements provide a route towards recurring royalties and manufacturing supply income from assets originally developed through the company’s service operations.
Aptamer has also expanded its asset portfolio by approximately 3.5 times over the past 18 months, creating additional candidates for future licensing agreements.
Issued share capital rises above 3.46 billion shares
Following admission of the newly issued shares, Aptamer’s issued share capital will increase to 3,468,080,461 ordinary shares.
All shares carry equal voting rights, and the company does not hold any shares in treasury. The size of the new option programme means potential future dilution remains an important consideration for shareholders should a significant proportion of the awards ultimately vest and be exercised.
Aptamer’s wider financial position remains challenging, with a sharp decline in revenue, continuing losses and negative cash flows weighing on the outlook. Technical indicators also remain weak, with the shares trading below major moving averages and MACD in negative territory, while oversold momentum indicators provide only limited support. Negative earnings also restrict the usefulness of conventional price-to-earnings valuation measures, and no dividend is currently available.
More about Aptamer Group Plc
Aptamer Group plc is an AIM-listed biotechnology company developing synthetic Optimer binders for applications across research reagents, diagnostics, cosmetics and therapeutics.
The company operates a fee-for-service development model while building a portfolio of commercially ready assets that can potentially generate licensing, royalty and manufacturing revenues.
Its customer base includes 85% of the world’s top 20 pharmaceutical companies, while the licensing agreements secured with Twist Bioscience and Alphazyme represent an important step towards developing recurring income streams.
Aptamer is also targeting opportunities in oligonucleotide therapeutics, including applications involving traditionally difficult-to-deliver or difficult-to-drug targets. The continued expansion of its Optimer asset portfolio forms part of a strategy to increase licensing opportunities and generate a greater proportion of passive revenue over time.
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