REG - Arecor Therapeutics - Grant of Options and PDMR Dealing

Arecor TherapeuticsAnnouncement

02/12/2024 07:00

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RNS Number : 2650O  Arecor Therapeutics PLC  02 December 2024

 

Arecor Therapeutics plc

 

("Arecor" or "the Company")

 

Grant of Options and PDMR Dealing

 

Cambridge, UK, 2 December 2024: Arecor Therapeutics plc (AIM: AREC), the
biopharmaceutical group advancing today's therapies to enable healthier lives,
announces that on 2(nd) December 2024 the Company granted a total of 280,000
options under the Company's Long Term Incentive Plan ("LTIP Options") over new
ordinary shares of 1 pence each in the Company ("Ordinary Shares").

 

The LTIP Options have an exercise price of 1 pence and are granted to certain
persons discharging managerial responsibilities ("PDMRs") of the Company.
Performance conditions include commercial objectives and Share Price
Performance* 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.

*Outperformance when compared to the FTSE AIM All Share index

 

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 (http://www.arecor.com/)
 Dr Sarah Howell, Chief Executive Officer                     Tel: +44 (0) 1223 426060

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

 Panmure Liberum Limited (NOMAD and Joint Broker)
 Emma Earl, Freddy Crossley, Mark Rogers (Corporate Finance)  Tel: +44 (0) 20 7886 2500

 Rupert Dearden (Corporate Broking)

 WG Partners LLP (Joint Broker)
 Nigel Barnes, Satheesh Nadarajah                             Tel: +44 (0)203 705 9321

 David Wilson, Claes Spang

 ICR Healthcare
 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 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
(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:                                                         1)   Sarah Howell

                                                                     2)    Jan Jezek

                                                                     3)    David Gerring
 2.    Reason for the notification
 a)    Position/status:                                              1)    Chief Executive Officer and Executive Director

                                                                     2)    PDMR (Chief Scientific Officer)

                                                                     3)    PDMR (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:  Ordinary shares of 1 pence each

       Identification code:
 b)    Nature of the transaction:                                    Grant of options over ordinary shares
 c)    Price(s) and volume(s):                                        Exercise Price(s) (£)    Volume(s)
                                                                     1)    £0.01               1)    160,000
                                                                     2)    £0.01               2)    60,000
                                                                     3)    £0.01               3)    60,000

 d)    Aggregated information:

       · Aggregated volume:                                          280,000

       · Price:                                                      £0.01
 e)    Date of the transaction:                                      2(nd) December 2024
 f)    Place of the transaction:                                     Outside of a trading venue

d)

Aggregated information:

· Aggregated volume:

· Price:

 

280,000

£0.01

e)

Date of the transaction:

2(nd) December 2024

f)

Place of the transaction:

Outside of a trading venue

 

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