Diurnal Group PLC Vesting of LTIP awards (4012C)
October 19 2020 - 2:00AM
UK Regulatory
TIDMDNL
RNS Number : 4012C
Diurnal Group PLC
19 October 2020
19 October 2020
Diurnal Group plc
("Diurnal" or the "Company")
Vesting of LTIP awards
Diurnal Group plc (AIM: DNL), the specialty pharmaceutical
company targeting patient needs in chronic endocrine (hormonal)
diseases, announces that the Remuneration Committee has determined
the proportion of options over ordinary shares of 5 pence each in
Diurnal previously granted under the Diurnal Group plc Long Term
Incentive Plan (the "Plan") to Directors of the Company that are
exercisable at the vesting date of 17 October 2020:
Maximum number Date of grant Options vesting
of potential on 17 October
shares to be 2020
issued under
the Plan
Martin Whitaker 148,698 17 October 2017 89,219
--------------- ---------------- ----------------
Richard Bungay 94,795 17 October 2017 56,877
--------------- ---------------- ----------------
The awards were granted under award agreements that incorporated
the terms of the Plan. Further details of the performance
conditions and the Remuneration Committee's assessment of
performance are as follows:
Objective Weighting Performance % of LTIP
assessed vesting
Achieving a target share price of
201 pence for a one-month rolling
period during the 5 years following
grant 20% 100% 20%
---------- ------------ ----------
Grant of market authorisation of
Alkindi(R) in the US or out license
of US marketing rights 40% 100% 40%
---------- ------------ ----------
Completion of clinical trial report
for US pivotal Phase 3 study for
Chronocort(R) or out license of US
marketing rights 40% 0% 0%
---------- ------------ ----------
Total % of LTIP vesting 60%
-------------------------------------- ---------- ------------ ----------
The vested options remain subject to exercise. The exercise
price payable per share under award is 5 pence per ordinary share.
The awards are exercisable until 17 October 2027.
For further information, please visit www.diurnal.co.uk or
contact:
+44 (0)20 3727
Diurnal Group plc 1000
Martin Whitaker, Chief Executive Officer
Richard Bungay, Chief Financial Officer
Panmure Gordon (UK) Limited (Nominated Adviser +44 (0)20 7886
and Sole Broker) 2500
Corporate Finance: Freddy Crossley, Emma Earl
Corporate Broking: Rupert Dearden
+44 (0)20 3727
FTI Consulting (Media and Investor Relations) 1000
Simon Conway
Victoria Foster Mitchell
Notes to Editors
About Diurnal Group plc
Founded in 2004, Diurnal is a UK-headquartered, European
specialty pharma company developing high quality products for the
global market for the life-long treatment of chronic endocrine
conditions, including congenital adrenal hyperplasia, adrenal
insufficiency and hypogonadism. Its expertise and innovative
research activities focus on circadian-based endocrinology to yield
novel product candidates in the rare and chronic endocrine disease
arena.
For further information about Diurnal, please visit
www.diurnal.co.uk
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END
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