REG - Arecor Therapeutics - Director/PDMR Shareholding

Arecor TherapeuticsAnnouncement

24/05/2023 07:00

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RNS Number : 3990A  Arecor Therapeutics PLC  24 May 2023

Arecor Therapeutics plc

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

 

Grant of Options and PDMR Dealing

 

Cambridge, UK,  24 May 2023: Arecor Therapeutics plc (AIM: AREC), the
biopharmaceutical group advancing today's therapies to enable healthier
lives, announces that on 23 May 2023, it granted a total of 190,000 options
under the Company's Long Term Incentive Plan ("LTIP Options") and a further
86,250 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").

The LTIP Options have an exercise price of 1p and are granted to persons
discharging managerial responsibilities ("PDMRs") of the Company. Performance
conditions include commercial objectives and Total Shareholder Return during
the three-year performance period. The LTIP Options are subject to continued
service and the extent to which the performance conditions are satisfied.
Vested LTIP Options will normally be exercisable until the tenth anniversary
of the grant date, after which time they will lapse. 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.

The AESOP Options vest after 36 months and are exercisable at £2.55 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 until the tenth anniversary of the date of
grant, after which date the option will lapse. The grant of options included
40,000 AESOP Options granted to a person discharging managerial
responsibilities ("PDMR"), Manjit Rahelu, Chief Business Officer of the
Company.

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

For further information, please contact:

 

 Arecor Therapeutics plc                          www.arecor.com (http://www.arecor.com/)

 Dr Sarah Howell, Chief Executive Officer         Tel: +44 (0) 1223 426060

                                                  Email: info@arecor.com (mailto:sarah.howell@arecor.com)

 Susan Lowther, Chief Financial Officer           Tel: +44 (0) 1223 426060

                                                  Email: info@arecor.com (mailto:info@arecor.com)

 Mo Noonan, Communications                        Tel: +44 (0) 7876 444977

                                                  Email: mo.noonan@arecor.com (mailto:mo.noonan@arecor.com)

 Panmure Gordon (UK) Limited                      Tel: +44 (0) 20 7886 2500

 (NOMAD and Broker)

 Freddy Crossley, Emma Earl (Corporate Finance)

 Rupert Dearden (Corporate Broking)

 Consilium Strategic Communications
 Chris Gardner, David Daley, Lindsey Neville      Tel: +44 (0) 20 3709 5700

                                                  Email: arecor@consilium-comms.com (mailto:arecor@consilium-comms.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 formulation 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 enhanced formulations of their therapeutic products. The Arestat ™
platform is supported by an extensive patent portfolio.

For further details please see our website, www.arecor.com
(http://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:                                                         Manjit Rahelu
 2.    Reason for the notification
 a)    Position/status:                                              Chief Business 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:  Ordinary shares of 1 pence each

       Identification code:                                          GB00BMWLM973
 b)    Nature of the transaction:                                    Grant of options over ordinary shares
 c)    Price(s) and volume(s):                                        Exercise Price(s) (£)    Volume(s)
                                                                     0.01                      190,000
                                                                     2.55                      40,000
 d)    Aggregated information:

       · Aggregated volume:                                          230,000

       · Price:                                                      N/A
 e)    Date of the transaction:                                      23 May 2023
 f)    Place of the transaction:                                     Outside of a trading venue

d)

Aggregated information:

· Aggregated volume:

· Price:

 

230,000

N/A

e)

Date of the transaction:

23 May 2023

f)

Place of the transaction:

Outside of a trading venue

 

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