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Medgenics, Inc. (the “Company”) Issue Of Options And Restricted Shares To Directors And Officers

Stocks in this article: MDGN MEDG

Medgenics, Inc. (NYSE MKT: MDGN and AIM: MEDU, MEDG), the developer of a novel technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue, announces that, on 2 January 2013 it (i) granted options to subscribe for 15,000 shares of the Company’s common stock, par value US$0.0001 (“Common Shares”) (“Options”) and (ii) made a restricted share award of 7,000 Common Shares (“Restricted Shares”) to each of Isaac Blech, Sol Barer, Alastair Clemow, Joel Kanter, and Stephen McMurray, all non-executive directors of the Company, as part of their remuneration for the year.

50% of these Restricted Shares will be vested on 3 January, 2013 and the remaining 50% will be vested one year from the date awarded, 2 January 2013 (the “Reference Date”). All of the Options are for a term of 10 years commencing on the Reference Date, vest in equal instalments on each of the first three anniversaries of the Reference Date and have an exercise price of US$7.25 or, based on an exchange rate of £1=US$1.63, 445 pence per Common Share, being the MDGN closing price on the Reference Date as reported on NYSE MKT.

These awards of Restricted Shares and Options were made pursuant to the terms of the Company’s 2006 Stock Incentive Plan (as amended, the “2006 Stock Plan”) previously approved by the Company’s stockholders and in accordance with the Board approved non-executive director compensation program, adopted on 22 March 2010 and amended on 9 December 2011 and October 16, 2012, which provides for each non-executive director: annual grants of options to purchase 15,000 Common Shares and awards of 7,000 Restricted Shares; an annual cash retainer fee of $15,000; and meeting attendance fees ranging from $1,000 to $2,500 per meeting, depending on the location and type of meeting. In addition, committee chairmen are entitled to an annual cash fee of $5,000.

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