TIDMSAR
RNS Number : 6741C
Sareum Holdings PLC
20 October 2020
Sareum Holdings PLC
("Sareum" or the "Company")
Exercise of Share Options and Director Dealings
Cambridge, UK, 20 October 2020 - Sareum Holdings plc (AIM: SAR),
the specialist drug development company delivering targeted small
molecule therapeutics to improve the treatment of cancer and
autoimmune diseases, announces the following share transactions
carried out by certain Directors.
On 19 October 2020, Dr Tim Mitchell (Chief Executive Officer)
and Dr John Reader (Chief Scientific Officer) each exercised
options over 6,153,846 ordinary shares of 0.025 pence each ("New
Ordinary Shares") in the Company (the "Options"), at an exercise
price of 0.26 pence per share, for an aggregate consideration of
GBP32,000.
The Options were granted on 22 December 2010, under the Sareum
Holdings plc Enterprise Management Incentives Option Agreement, as
a key part of the Company's long-term incentive scheme to retain
key talent in the business. The Options were due to lapse on 21
December 2020.
Following the exercise of the Options, on 19 October 2020, Dr
Mitchell and Dr Reader each agreed to sell 3,076,923 of the New
Ordinary Shares at a price of 1.141 pence per share (the "Share
Sale").
Accordingly, following Admission (as defined below) and
completion of the Share Sale, Dr Mitchell and his spouse will hold,
in aggregate, 50,476,073 Ordinary Shares, representing 1.54% of the
issued share capital of the Company, and Dr Reader and his spouse
will hold, in aggregate, 51,625,385 Ordinary Shares, representing
1.58% of the issued share capital of the Company.
The Board, upon the recommendation of the Remuneration
Committee, approved a window to trade thus enabling Dr Mitchell and
Dr Reader to sell shares. It is intended that Directors can
periodically trade at timely intervals without disrupting the
market, such is common market practice.
Application has been made to the London Stock Exchange for the
12,307,692 New Ordinary Shares to be admitted to trading on AIM
("Admission") and it is expected that Admission will become
effective and trading will commence at 8.00 a.m. on 23 October
2020.
Following Admission, the total number of Ordinary Shares in
issue will be 3,267,722,796 and the total number of voting rights
will therefore be 3,267,722,796. This figure may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the share capital of the Company
under the FCA's Disclosure and Transparency Rules.
Following the Option exercise and Share Sale, Dr Mitchell's and
Dr Reader's resultant interests in the Company will be:
Director/ Date of Number Purchase Number Sale Total shares Percentage
PDMR transaction of shares price of shares price held of issued
purchased sold share
via Option capital
exercise
Tim Mitchell 19 October
(1) 2020 6,153,846 0.26p 3,076,923 1.141p 50,476,073 1.54%
-------------- ------------ --------- ----------- ------- ------------- -----------
John
Reader 19 October
(2) 2020 6,153,846 0.26p 3,076,923 1.141p 51,625,385 1.58%
-------------- ------------ --------- ----------- ------- ------------- -----------
(1) - Included within Tim Mitchell's total holding are
10,000,000 Ordinary Shares held by his spouse.
(2) - Included withing John Reader's total holding are 3,333,791
Ordinary Shares held by his spouse.
The information set out below is provided in accordance with the
requirements of Article 19(3) of the EU Market Abuse Regulation No
596/2014.
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Tim Mitchell
-------------------------------- -----------------------------------------------
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 SAREUM HOLDINGS PLC
-------------------------------- -----------------------------------------------
b) LEI 213800PKERN2DY8FFM72
-------------------------------- -----------------------------------------------
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 0.025p each in
instrument, type of instrument the share capital of Sareum Holdings
plc
-------------------------------- -----------------------------------------------
Identification code ISIN for Ordinary Shares: GB00B02RFS12
-------------------------------- -----------------------------------------------
b) Nature of the Transaction (a) Exercise of Options to acquire
ordinary shares
(b) Sale of ordinary shares
-------------------------------- -----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
(a) 0.26p (a) 6,153,846
(b) 1.141p (b) 3,076,923
--------------------
-------------------------------- -----------------------------------------------
d) Aggregated information
* Aggregated volume * 3,076,923 ordinary shares acquired
* Price * 0.26p
-------------------------------- -----------------------------------------------
e) Date of the transaction 19 October 2020
-------------------------------- -----------------------------------------------
f) Place of the transaction London Stock Exchange (AIM)
-------------------------------- -----------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name John Reader
-------------------------------- -----------------------------------------------
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 SAREUM HOLDINGS PLC
-------------------------------- -----------------------------------------------
b) LEI 213800PKERN2DY8FFM72
-------------------------------- -----------------------------------------------
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 0.025p each in
instrument, type of instrument the share capital of Sareum Holdings
plc
-------------------------------- -----------------------------------------------
Identification code ISIN for Ordinary Shares: GB00B02RFS12
-------------------------------- -----------------------------------------------
b) Nature of the Transaction (a) Exercise of Options to acquire
ordinary shares
(b) Sale of ordinary shares
-------------------------------- -----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
(a) 0.26p (a) 6,153,846
(b) 1.141p (b) 3,076,923
--------------------
-------------------------------- -----------------------------------------------
d) Aggregated information
* Aggregated volume * 3,076,923 ordinary shares acquired
* Price * 0.26p
-------------------------------- -----------------------------------------------
e) Date of the transaction 19 October 2020
-------------------------------- -----------------------------------------------
f) Place of the transaction London Stock Exchange (AIM)
-------------------------------- -----------------------------------------------
For further information, please contact:
Sareum Holdings plc
Tim Mitchell, CEO 01223 497 700
Strand Hanson Limited (Nominated Adviser)
James Dance / Richard Tulloch 020 7409 3494
Hybridan LLP (Nominated Broker)
Claire Noyce / John Beresford-Peirse 020 3764 2341
Citigate Dewe Rogerson (Financial PR)
Mark Swallow/ David Dible 020 7638 9571
About Sareum
Sareum is a specialist drug development company delivering
targeted small molecule therapeutics to improve the treatment of
cancer and autoimmune diseases. The Company aims to generate value
through licensing its candidates to international pharmaceutical
and biotechnology companies at the preclinical or early clinical
trials stage.
Sareum is advancing internal programmes focused on distinct dual
tyrosine kinase 2 (TYK2) / Janus kinase 1 (JAK1) inhibitors through
preclinical development as therapies for autoimmune diseases,
including the "cytokine storm" immune system overreaction to
Covid-19 and other viral infections, (SDC-1801) and cancer
immunotherapy (SDC-1802).
The Company's preclinical FLT3+Aurora inhibitor programme
targeting haematological cancers is licensed to a China-based
specialty pharma company.
Sareum also has an economic interest in SRA737, a clinical-stage
oral, selective Checkpoint kinase 1 (Chk1) inhibitor that targets
cancer cell replication and DNA damage repair mechanisms.
Preliminary Phase 2 and comprehensive preclinical data suggest
SRA737 may have broad application in combination with other
oncology and immune-oncology drugs in genetically defined
patients.
SRA737 was discovered and initially developed by scientists at
The Institute of Cancer Research in collaboration with Sareum, and
with funding from Sareum and Cancer Research UK. SRA737 was
licensed by CRT Pioneer Fund (CPF) to Sierra Oncology Inc. Sierra
is currently exploring options to obtain the funding or support
necessary to advance the future development of SRA737.
Sareum Holdings plc is listed on the AIM market of the London
Stock Exchange, trading under the ticker SAR. For further
information, please visit the Company's website at
www.sareum.com.
- Ends -
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 or visit 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.
END
DSHKZMZGMGRGGZM
(END) Dow Jones Newswires
October 20, 2020 08:00 ET (12:00 GMT)
Sareum (LSE:SAR)
Historical Stock Chart
From Apr 2024 to May 2024
Sareum (LSE:SAR)
Historical Stock Chart
From May 2023 to May 2024