TIDMAREC
RNS Number : 8052I
Arecor Therapeutics PLC
06 December 2022
Arecor Therapeutics plc
("Arecor", the "Company" or the "Group")
Grant of LTIP Options and PDMR Dealing
Cambridge, UK, 6 December 2022: Arecor Therapeutics plc (AIM:
AREC), the biopharmaceutical group advancing today's therapies to
enable healthier lives , announces that on 5 December 2022, it
granted a total of 270,000 options under the Company's Long Term
Incentive Plan ("LTIP Options") over new ordinary shares of 1p each
in the Company ("Ordinary Shares").
The LTIP Options have an exercise price of 1p and are granted to
Senior Management ( 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 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
Dr Sarah Howell, Chief Executive Tel: +44 (0) 1223 426060
Officer Email: info@arecor.com
Susan Lowther, Chief Financial Officer Tel: +44 (0) 1223 426060
Email: info@arecor.com
Mo Noonan, Communications Tel: +44 (0) 7876 444977
Email: mo.noonan@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)
Consilium Strategic Communications
Chris Gardner, David Daley, Angela Tel: +44 (0) 20 3709 5700
Gray 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 formulation technology
platform, Arestat(TM), 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 (TM) 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: Shafiq Choudhary
----------------------------------- ----------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status: Managing Director, Tetris
Pharma Ltd
----------------------------------- ----------------------------------
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 Ordinary shares of 1 pence
instrument, type of instrument: 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 50,000
----------
----------------------------------- ----------------------------------
d) Aggregated information:
* Aggregated volume: 50,000
N/A
* Price:
----------------------------------- ----------------------------------
e) Date of the transaction: 5 December 2022
----------------------------------- ----------------------------------
f) Place of the transaction: Outside of a trading venue
----------------------------------- ----------------------------------
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: VP 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 Ordinary shares of 1 pence
instrument, type of instrument: 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 20,000
----------
----------------------------------- ----------------------------------
d) Aggregated information:
* Aggregated volume: 20,000
N/A
* Price:
----------------------------------- ----------------------------------
e) Date of the transaction: 5 December 2022
----------------------------------- ----------------------------------
f) Place of the transaction: Outside of a trading venue
----------------------------------- ----------------------------------
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: 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 Ordinary shares of 1 pence
instrument, type of instrument: 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
----------
----------------------------------- ----------------------------------
d) Aggregated information:
* Aggregated volume: 80,000
N/A
* Price:
----------------------------------- ----------------------------------
e) Date of the transaction: 5 December 2022
----------------------------------- ----------------------------------
f) Place of the transaction: Outside of a trading venue
----------------------------------- ----------------------------------
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: Jane 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 Ordinary shares of 1 pence
instrument, type of instrument: 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 40,000
----------
----------------------------------- ----------------------------------
d) Aggregated information:
* Aggregated volume: 40,000
N/A
* Price:
----------------------------------- ----------------------------------
e) Date of the transaction: 5 December 2022
----------------------------------- ----------------------------------
f) Place of the transaction: Outside of a trading venue
----------------------------------- ----------------------------------
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: Fiona Lawrence
----------------------------------- ----------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status: VP Clinical & Regulatory Affairs
and QA
----------------------------------- ----------------------------------
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 Ordinary shares of 1 pence
instrument, type of instrument: 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 16,667
----------
----------------------------------- ----------------------------------
d) Aggregated information:
* Aggregated volume: 16,667
N/A
* Price:
----------------------------------- ----------------------------------
e) Date of the transaction: 5 December 2022
----------------------------------- ----------------------------------
f) Place of the transaction: Outside of a trading venue
----------------------------------- ----------------------------------
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: Susan Lowther
----------------------------------- ----------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status: 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 Ordinary shares of 1 pence
instrument, type of instrument: 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 63,333
----------
----------------------------------- ----------------------------------
d) Aggregated information:
* Aggregated volume: 63,333
N/A
* Price:
----------------------------------- ----------------------------------
e) Date of the transaction: 5 December 2022
----------------------------------- ----------------------------------
f) Place of the transaction: Outside of a trading venue
----------------------------------- ----------------------------------
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END
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