REG - Arecor Therapeutics - Grant of Options and PDMR Dealing

Arecor TherapeuticsAnnouncement

23/05/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240523:nRSW5522Pa&default-theme=true

RNS Number : 5522P  Arecor Therapeutics PLC  23 May 2024

Arecor Therapeutics plc

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

 

Grant of Options and PDMR Dealing

 

Cambridge UK, 23 May: Arecor Therapeutics plc (AIM: AREC), the
biopharmaceutical group advancing today's therapies to enable healthier
lives, announces that on 22 May 2024, it granted a total of 540,000 options
under the Company's Long Term Incentive Plan ("LTIP Options") and 383,250
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 1 pence and are granted to certain
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 £1.585 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 AESOP Options
included 184,000 AESOP Options granted to certain PDMRs.

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)

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

 (NOMAD and Broker)

 Freddy Crossley, Emma Earl (Corporate Finance)

 Rupert Dearden (Corporate Broking)

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

 David Wilson, Claes Spang

 ICR Consilium
 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:                                                         David Gerring
 2.    Reason for the notification
 a)    Position/status:                                              SVP Development
 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                      80,000
                                                                     1.585                     26,000
 d)    Aggregated information:

       · Aggregated volume:                                          106,000

       · Price:                                                      N/A
 e)    Date of the transaction:                                      22 May 2024
 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
 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                      160,000
                                                                     1.585                     66,000
 d)    Aggregated information:

       · Aggregated volume:                                          226,000

       · Price:                                                      N/A
 e)    Date of the transaction:                                      22 May 2024
 f)    Place of the transaction:                                     Outside of a trading venue

       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                      60,000
                                                                     1.585                     13,000
 d)    Aggregated information:

       · Aggregated volume:                                          73,000

       · Price:                                                      N/A
 e)    Date of the transaction:                                      22 May 2024
 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:  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                      80,000
                                                                     1.585                     26,000
 d)    Aggregated information:

       · Aggregated volume:                                          106,000

       · Price:                                                      N/A
 e)    Date of the transaction:                                      22 May 2024
 f)    Place of the transaction:                                     Outside of a trading venue

       Details of the person discharging managerial responsibilities/person closely
       associated
 a)    Name:                                                         Helen Parris
 2.    Reason for the notification
 a)    Position/status:                                              SVP Commercial and General Manager, Tetris Pharma
 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                      160,000
                                                                     1.585                     53,000
 d)    Aggregated information:

       · Aggregated volume:                                          213,000

       · Price:                                                      N/A
 e)    Date of the transaction:                                      22 May 2024
 f)    Place of the transaction:                                     Outside of a trading venue

d)

Aggregated information:

· Aggregated volume:

· Price:

 

106,000

N/A

e)

Date of the transaction:

22 May 2024

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

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 options over ordinary shares

c)

Price(s) and volume(s):

  Exercise Price(s) (£)    Volume(s)
 0.01                      160,000
 1.585                     66,000

d)

Aggregated information:

· Aggregated volume:

· Price:

 

226,000

N/A

e)

Date of the transaction:

22 May 2024

f)

Place of the transaction:

Outside of a trading venue

 

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:

Identification code:

Ordinary shares of 1 pence each

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                      60,000
 1.585                     13,000

d)

Aggregated information:

· Aggregated volume:

· Price:

 

73,000

N/A

e)

Date of the transaction:

22 May 2024

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 options over ordinary shares

c)

Price(s) and volume(s):

  Exercise Price(s) (£)    Volume(s)
 0.01                      80,000
 1.585                     26,000

d)

Aggregated information:

· Aggregated volume:

· Price:

 

106,000

N/A

e)

Date of the transaction:

22 May 2024

f)

Place of the transaction:

Outside of a trading venue

 

Details of the person discharging managerial responsibilities/person closely
associated

a)

Name:

Helen Parris

2.

Reason for the notification

a)

Position/status:

SVP Commercial and General Manager, Tetris Pharma

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 options over ordinary shares

c)

Price(s) and volume(s):

  Exercise Price(s) (£)    Volume(s)
 0.01                      160,000
 1.585                     53,000

d)

Aggregated information:

· Aggregated volume:

· Price:

 

213,000

N/A

e)

Date of the transaction:

22 May 2024

f)

Place of the transaction:

Outside of a trading venue

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHQKBBNKBKBKPB