REG - Arecor Therapeutics - Grant of Options and PDMR Dealing

Arecor TherapeuticsAnnouncement

23/04/2025 07:00

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RNS Number : 7512F  Arecor Therapeutics PLC  23 April 2025

 

Arecor Therapeutics plc

 

("Arecor" or "the Company")

 

Grant of Options and PDMR Dealing

 

Cambridge, UK, 23 April 2025: Arecor Therapeutics plc (AIM: AREC), the
biopharmaceutical group advancing today's therapies to enable healthier lives,
announces that on 22 April 2025, the Company granted a total of 190,000
options under the Company's Long Term Incentive Plan ("LTIP Options") and
40,000 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") to David Ellam, Chief Financial Officer, a person discharging
managerial responsibilities ("PDMR") of the Company.

 

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. 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 £0.38 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.

 

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

                                                         Email: info@arecor.com (mailto:info@arecor.com)
 David Ellam, Chief Financial Officer                    Tel: +44 (0) 1223 426060

                                                         Email: info@arecor.com (mailto: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 (mailto: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
(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:                                                         David Ellam
 2.    Reason for the notification
 a)    Position/status:                                              PDMR (Chief Financial 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)    190,000
                                                                     2)    £0.38               2)    40,000

 d)    Aggregated information:

       · Aggregated volume:                                          230,000

       · Price:                                                      N/A
 e)    Date of the transaction:                                      22 April 2025
 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:

22 April 2025

f)

Place of the transaction:

Outside of a trading venue

 

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