REG - ReNeuron Group plc - Directors' Interest in Shares and Share Options <Origin Href="QuoteRef">RQE.L</Origin>

ReNeuronAnnouncement

29/10/2014 13:20

RNS Number : 1979S
ReNeuron Group plc
22 September 2014
22 September 2014
AIM: RENE
 ReNeuron Group plc
("ReNeuron" or "the Company")
Directors' Interest in Shares and Share Options 
Guildford, UK, 22 September 2014: ReNeuron Group plc (AIM: RENE), a leading UK-based stem cell therapy company, todayannounces that on 19 September 2014, the following awards were made under the Company's share-based incentive plans:
1. Long Term Incentive Plan (LTIP)

LTIP: number of shares awarded
Total shares over which options are held 
Percentage of issued shares under option




Olav Hellebo
15,555,556
15,555,556
0.87%
Michael Hunt
 4,062,500
24,793,733
1.39%
John Sinden
 2,375,000
20,073,331
1.12%
The LTIP awards are options granted at nominal value and are subject to a three-year holding period, exercisable from the third anniversary of the award. The options are exercisable subject to the achievement of the following performance conditions:
i) The first patientisadministered with a ReNeuron cell therapy in a sixth clinical trial.
ii) The Total Shareholder Return (TSR) of the Companymust exceed that of the FTSE AIM Healthcare Indexin any given three year period from date of grant. Where the TSR ranks between median and upper quartile of the index over the three-year period, the options will vest pro-rata between 25% and 100%. Where the TSR ranks below the median in the performance period, no options will vest.
iii) The business must have operated within its internal financial budgets throughout the period to vesting.
iv) The business must be a going concern (under the accepted accounting definition) at the time of any exercise of an option.
2. Non-Executive Share Option Scheme
The options listed below have been granted under the Rules of the Scheme at an exercise price of 3.45p, being the closing mid-market price of the Company's shares on the 18 September 2013. The options are exercisable subject to achievement of the following performance condition:
i) The first patientisadministered with a ReNeuron cell therapy in a sixth clinical trial.
Director
No. options
Exercise price
Exercise period




Bryan Morton
700,000
3.45p
Sep 2017 - Sep 2024 
John Berriman
600,000
3.45p
Sep 2017 - Sep 2024
Simon Cartmell
600,000
3.45p
Sep 2017 - Sep 2024 
Tim Corn
500,000
3.45p
Sep 2017 - Sep 2024 
Mark Docherty
500,000
3.45p
Sep 2017 - Sep 2024
Sir Chris Evans
500,000
3.45p
Sep 2017 - Sep 2024 
Paul Harper
500,000
3.45p
Sep 2017 - Sep 2024 
Allowing for the grants listed above, the Non-executive Directors hold cumulative total options under the Scheme as follows:
Bryan Morton
3,035,724
John Berriman
2,255,322
Simon Cartmell
2,255,322
Tim Corn
1,575,249
Mark Docherty
2,932,666
Sir Christopher Evans
1,000,000
Paul Harper
3,159,831
Enquiries:
ReNeuron
Olav Hellebo, Chief Executive Officer +44 (0)1483 302560
Michael Hunt, Chief Financial Officer
Buchanan
Mark Court, Fiona Henson, Sophie Cowles +44 (0)20 7466 5000
Cenkos Securities
Stephen Keys, Dr Christopher Golden (NOMAD & Broker)
Andy Roberts (Sales)  +44 (0)20 7397 8900 
About ReNeuron
ReNeuron is a leading, clinical-stage cell therapy development business. Based in the UK, its primary objective is the development of novel cell-based therapies targeting areas of significant unmet or poorly met medical need. 
ReNeuron has used its unique stem cell technologies to develop cell-based therapies for significant disease conditions where the cells can be readily administered "off-the-shelf" to any eligible patient without the need for additional immunosuppressive drug treatments. The Company's therapeutic candidates for stroke disability and critical limb ischaemia are in clinical development and its cell-based treatment for blindness-causing diseases of the retina is currently in pre-clinical development. 
ReNeuron is also advancing a proprietary platform technology to exploit nanoparticles (exosomes) secreted by stem cells as potential new drug candidates targeting indications in tissue repair, fibrosis and cancer.
ReNeuron's shares are traded on the London AIM market under the symbol RENE.L. Further information on ReNeuron and its products can be found at www.reneuron.com.

This information is provided by RNS
The company news service from the London Stock Exchange
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