Arecor Therapeutics - Grant of Options and PDMR Dealing

Arecor Therapeutics

04/06/2025 07:00

RNS Number : 3734L

Arecor Therapeutics PLC

04 June 2025

 

Arecor Therapeutics plc

 

("Arecor", the "Company" or the "Group")

 

GRANT OF OPTIONS AND PDMR DEALING

 

Cambridge, UK, 4 June 2025: Arecor Therapeutics plc (AIM: AREC), the biopharmaceutical company advancing today's therapies to enable healthier lives, announces that on 2 June 2025 the Company granted a total of 295,000 options under the Company's Long Term Incentive Plan ("LTIP Options") and 239,600 options under the Company's All Employee Share Ownership Plan ("AESOP Options"), over new ordinary shares of 1 pence each in the Company ("Ordinary Shares").

 

Details of options granted to PDMRs are included in the table below.

 

Type
Name of individual
Job title
Number of share options granted under 2025 award
Price (£)
LTIP
Sarah Howell
Chief Executive Officer
125,000
0.01
AESOP
Sarah Howell
Chief Executive Officer
66,000
£0.435
LTIP
Jan Jezek
Chief Scientific Officer
85,000
0.01
AESOP
Jan Jezek
Chief Scientific Officer
26,000
£0.435
LTIP
David Gerring
Chief Development Officer
85,000
0.01
AESOP
David Gerring
Chief Development Officer
26,000
£0.435

 

 

The LTIP Options have an exercise price of 1 pence. Performance conditions include both time (30% of the options granted) and Share Price Outperformance* (70% of the options granted) during the three-year performance period. The LTIP Options are subject to continued service and the extent to which the performance conditions are satisfied. Vesting does not occur until the end of the three-year performance period.  Vested LTIP Options will normally be exercisable from after the end of the three-year performance period and until the tenth anniversary of the grant date, after which time they will lapse if not exercised. They are subject to a condition that the LTIP Options or the Ordinary Shares acquired on exercise of the LTIP Options (other than those sold to cover tax and National Insurance) are held for a minimum one-year period from vesting.

*Outperformance when compared to the FTSE AIM All Share index.

 

The AESOP Options vest after 36 months and are exercisable at £0.435 per share, being the closing market price of an Ordinary Share on the day preceding the date of grant. The AESOP Options are subject to continuous employment and are exercisable from after the end of the 36 months until the tenth anniversary of the date of grant, after which date the option will lapse if not exercised. The grant of AESOP Options included 118,000 AESOP Options granted to certain PDMRs.

 

The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.

 

-ENDS-

 

For more information, please contact:

Arecor Therapeutics plc
www.arecor.com
Dr Sarah Howell, Chief Executive Officer
Tel: +44 (0) 1223 426060
Email:info@arecor.com
David Ellam, Chief Financial Officer
Tel: +44 (0) 1223 426060
Email:info@arecor.com
Singer Capital Markets Advisory LLP (NOMAD and Broker)
Phil Davies, Sam Butcher
Tel: +44 (0) 20 7496 3000
ICR Healthcare
Chris Gardner, David Daley, Lindsey Neville
Tel: +44 (0) 20 3709 5700
Email:arecor@icrhealthcare.com

 

Notes to Editors

 

About Arecor

Arecor Therapeutics plc is a globally focused biopharmaceutical company transforming patient care by bringing innovative medicines to market through the enhancement of existing therapeutic products. By applying our innovative proprietary technology platform, Arestat™, we are developing an internal portfolio of proprietary products in diabetes and other indications, as well as working with leading pharmaceutical and biotechnology companies to deliver therapeutic products. The Arestat™ platform is supported by an extensive patent portfolio.  For further details please see our website, www.arecor.com

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them 

 

Details of the person discharging managerial responsibilities/person closely associated
a)
Name:
Sarah Howell
2.
Reason for the notification
a)
Position/status:
Chief Executive Officer and Executive Director
b)
Initial notification/Amendment:
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name:
Arecor Therapeutics plc
b)
LEI:
98450093D12I3A8DDD58
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument:
Identification code:
Ordinary shares of 1 pence each
GB00BMWLM973
b)
Nature of the transaction:
Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan.
c)
Price(s) and volume(s):
2025 LTIP Award
Exercise Price(s) (£)
Volume(s)
£0.01
125,000
d)
Aggregated information:
· Aggregated volume:
· Price:
125,000
£0.01
e)
Date of the transaction:
2 June 2025
f)
Place of the transaction:
Outside of a trading venue

 

Details of the person discharging managerial responsibilities/person closely associated
a)
Name:
Sarah Howell
2.
Reason for the notification
a)
Position/status:
Chief Executive Officer and Executive Director
b)
Initial notification/Amendment:
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name:
Arecor Therapeutics plc
b)
LEI:
98450093D12I3A8DDD58
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument:
Identification code:
Ordinary shares of 1 pence each
GB00BMWLM973
b)
Nature of the transaction:
Grant of awards over Ordinary Shares under the Company'sAll Employee Share Ownership Plan.
c)
Price(s) and volume(s):
2025 AESOP Award
Exercise Price(s) (£)
Volume(s)
£0.435
66,000
d)
Aggregated information:
· Aggregated volume:
· Price:
66,000
£0.435
e)
Date of the transaction:
2 June 2025
f)
Place of the transaction:
Outside of a trading venue

 

 

Details of the person discharging managerial responsibilities/person closely associated
a)
Name:
Jan Jezek
2.
Reason for the notification
a)
Position/status:
Chief Scientific Officer
b)
Initial notification/Amendment:
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name:
Arecor Therapeutics plc
b)
LEI:
98450093D12I3A8DDD58
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument:
Identification code:
Ordinary shares of 1 pence each
GB00BMWLM973
b)
Nature of the transaction:
Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan
c)
Price(s) and volume(s):
2025 LTIP Award
Exercise Price(s) (£)
Volume(s)
£0.01
85,000
d)
Aggregated information:
· Aggregated volume:
· Price:
85,000
£0.01
e)
Date of the transaction:
2 June 2025
f)
Place of the transaction:
Outside of a trading venue

 

Details of the person discharging managerial responsibilities/person closely associated
a)
Name:
Jan Jezek
2.
Reason for the notification
a)
Position/status:
Chief Scientific Officer
b)
Initial notification/Amendment:
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name:
Arecor Therapeutics plc
b)
LEI:
98450093D12I3A8DDD58
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument:
Identification code:
Ordinary shares of 1 pence each
GB00BMWLM973
b)
Nature of the transaction:
Grant of awards over Ordinary Shares under the Company'sAll Employee Share Ownership Plan.
c)
Price(s) and volume(s):
2025 AESOP Award
Exercise Price(s) (£)
Volume(s)
£0.435
26,000
d)
Aggregated information:
· Aggregated volume:
· Price:
26,000
£0.435
e)
Date of the transaction:
2 June 2025
f)
Place of the transaction:
Outside of a trading venue

 

 

Details of the person discharging managerial responsibilities/person closely associated
a)
Name:
David Gerring
2.
Reason for the notification
a)
Position/status:
Chief Development Officer
b)
Initial notification/Amendment:
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name:
Arecor Therapeutics plc
b)
LEI:
98450093D12I3A8DDD58
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument:
Identification code:
Ordinary shares of 1 pence each
GB00BMWLM973
b)
Nature of the transaction:
Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan.
c)
Price(s) and volume(s):
2025 LTIP Award
Exercise Price(s) (£)
Volume(s)
£0.01
85,000
d)
Aggregated information:
· Aggregated volume:
· Price:
85,000
£0.01
e)
Date of the transaction:
2 June 2025
f)
Place of the transaction:
Outside of a trading venue

 

 

 

Details of the person discharging managerial responsibilities/person closely associated
a)
Name:
David Gerring
2.
Reason for the notification
a)
Position/status:
Chief Development Officer
b)
Initial notification/Amendment:
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name:
Arecor Therapeutics plc
b)
LEI:
98450093D12I3A8DDD58
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument:
Identification code:
Ordinary shares of 1 pence each
GB00BMWLM973
b)
Nature of the transaction:
Grant of awards over Ordinary Shares under the Company'sAll Employee Share Ownership Plan.
c)
Price(s) and volume(s):
2025 AESOP Award
Exercise Price(s) (£)
Volume(s)
£0.435
26,000
d)
Aggregated information:
· Aggregated volume:
· Price:
26,000
£0.435
e)
Date of the transaction:
2 June 2025
f)
Place of the transaction:
Outside of a trading venue

 

 

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