Medgenics Inc Director enters into Stock Trading Plan (3261W)

TIDMMEDG TIDMMEDU

RNS Number : 3261W

Medgenics Inc

24 December 2013

 
 Press Release   24 December 2013

Medgenics Announces Director enters into Stock Trading Plan and Change of Adviser

Medgenics, Inc. (AIM: MEDU, MEDG and NYSE MKT: MDGN), ("the Company"), the developer of Biopump(TM) , a novel technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue, announces that, on 23 December 2013, Dr. Andrew L. Pearlman, founder and a director, has established a personal stock trading plan in accordance both with the guidelines established by Rule 10b5-1 under the U.S. Securities Exchange Act of 1934, as amended, and the AIM Rules for Companies as well as the Company's policies with respect to insider sales.

Rule 10b5-1 plans permit directors, officers and other company insiders to adopt, at times when they are not in possession of material, non-public information, written plans for trading securities in a non-discretionary, pre-scheduled manner in the future. These pre-planned trades can then be executed at a later date, as spelled out in the plan, without further action by the director, officer or other company insider and without regard to any subsequent non-public information the individual might have received. Such plans also allow insiders to diversify their holdings and to minimize the market effect of stock sales by spreading them out over time.

Commencing on December 23, 2013, Dr. Pearlman's plan provides for the exercise and sale of up to 262,806 stock options over a period of approximately nine months. The stock is being sold for personal financial planning purposes including the payment of taxes in connection with the exercise of stock options.

The transactions under the plan will be disclosed publicly through Form 144 and Form 4 filings as required by the U.S. Securities and Exchange Commission and in the UK through a Regulatory Information Service.

The Company also announces that, Oriel Securities has been appointed to act as sole broker to the Company and remains as its Nominated Adviser. The Company has concluded its joint broker relationship with SVS Securities plc who is thanked for their support over the last several years.

This announcement is being made pursuant to the London Stock Exchange's AIM Rules for Companies admitted to trading on the AIM market.

About Medgenics

Medgenics is developing and commercializing Biopump(TM), a proprietary tissue-based platform technology for the sustained production and delivery of therapeutic proteins using the patient's own tissue for the treatment of a range of chronic diseases including anemia, hepatitis, among others. For more information, please visit www.medgenics.com.

Contacts:

 
 Medgenics, Inc. 
  John Leaman, CFO 
  john.leaman@medgenics.com 
 Abchurch Communications 
  Joanne Shears / Jamie Hooper 
  / Harriet Rae 
  harriet.rae@abchurch-group.com      +44 207 398 7718 
 Oriel Securities (NOMAD & Broker) 
  Jonathan Senior / Giles Balleny     +44 207 710 7617

-Ends-

This information is provided by RNS

The company news service from the London Stock Exchange

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