Sensyne fined after misleading adviser over directors’ bonuses

Sensyne allegedly misled Peel Hunt, the company’s nominated adviser, over cash bonuses of £850,000 to Lord Drayson, the founder, chief executive and largest shareholder
Sensyne allegedly misled Peel Hunt, the company’s nominated adviser, over cash bonuses of £850,000 to Lord Drayson, the founder, chief executive and largest shareholder
BEN GURR FOR THE TIMES

The healthcare technology company led by Lord Drayson, the former business and science minister, has been fined and censured by the London Stock Exchange for “serious failures” relating to the secret payment of £1 million of executive bonuses, including to the peer.

An investigation by the exchange has found that Sensyne misled broking firm Peel Hunt, the company’s nominated adviser, over cash bonuses of £850,000 to Drayson, the founder, chief executive and largest shareholder, and £200,000 to Lorimer Headley, its chief financial officer at the time.

The “post-IPO” bonuses were paid to the two directors in December 2018, four months after it floated on AIM, London’s junior market, but were not referred to in the company’s admission document for investors ahead of its listing.

Sensyne,