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 2nd 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

Dr Sarah Howell, Chief Executive Officer

Tel: +44 (0) 1223 426060

Email: info@arecor.com



Panmure Liberum Limited (NOMAD and Joint Broker)

 

Emma Earl, Freddy Crossley, Mark Rogers (Corporate Finance)

Rupert Dearden (Corporate Broking)

Tel: +44 (0) 20 7886 2500

 

 

WG Partners LLP (Joint Broker)

 

Nigel Barnes, Satheesh Nadarajah

David Wilson, Claes Spang

Tel: +44 (0)203 705 9321

 

 

ICR Healthcare

 

Chris Gardner, David Daley, Lindsey Neville

Tel: +44 (0) 20 3709 5700

Email: 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

 

 

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:

Identification code:

Ordinary shares of 1 pence each

 

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:

· Price:

 

280,000

£0.01

e)

Date of the transaction:

2nd December 2024

f)

Place of the transaction:

Outside of a trading venue

 

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END
 
 
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