The three top bosses at Scottish life sciences firm Omega Diagnostics could benefit from a windfall worth hundreds of thousands of pounds – if the company’s share price at least doubles in the years ahead.

Omega Diagnostics’ chief executive Colin King, finance chief Kieron Harbinson and group commercial director Jag Grewal have together been granted options over 2.2 million shares in the company at an exercise price of 15.4p each.

They can exercise the share options after two years but only if the share price hits 30p. Shares in Omega are currently trading at 15.75p each.

The incentives were part of 3.15 million share options awarded to 11 directors and senior managers at Omega. The awards granted to non-board members don’t have the share price performance condition attached.

Last week the Alva-based firm saw its shares jump after its testing kit for HIV patients won approval from the Nigerian government.

The company, which specialises in tests for allergies, food intolerance and infectious diseases, received the green light from the African country’s Federal Ministry of Health for its Visitect CD4 350 test to be deployed there.

The approval followed a product evaluation across the country, co-ordinated by the National AIDS and Sexually Transmitted Infections Control Programme. It means the company’s product is the first instrument-free test of its kind to be implemented throughout Nigeria in the care of people living with HIV.

In December Omega announced it had secured initial orders from its distribution partner in Nigeria for 250,000 tests.

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