Amryt Pharma PLC Grant of Options & PDMR Dealings (0554Y)

TIDMAMYT

RNS Number : 0554Y

Amryt Pharma PLC

01 December 2017

1 December 2017

AIM: AMYT

ESM: AYP

Amryt Pharma plc

("Amryt" or the "Company")

Grant of Options and Notification of Transactions by Persons Discharging Managerial Responsibilities

Amryt announces that the Remuneration Committee has approved the grant of 2,885,582 share options ("Options") to subscribe for ordinary shares of 1p each in the Company ("Shares") under the Employee Share Option Plan 2016 (the "Plan") to Joe Wiley, CEO, and Rory Nealon, CFO, details of which are set out in the table below.

The Options have an exercise price of 20.12p ("Exercise Price"). These options may be exercised as follows:

 
 --   25% of the total Options granted may be exercised 
       12 months after the date of grant; 
 --   a further 25% of the total Options granted 
       may be exercised 24 months after the date 
       of grant; and 
 --   the balance of the Options may be exercised 
       36 months after the date of grant. 
 

All Options are subject to change of control provisions and expire on the seventh anniversary of their grant.

Following the grants of these options, the following Directors have the following options:

 
   Director     Options granted   Total Options now held 
-------------  ----------------  ----------------------- 
 Joe Wiley         2,061,130            2,061,130 
-------------  ----------------  ----------------------- 
 Rory Nealon        824,452              824,452 
-------------  ----------------  ----------------------- 
 

PDMR Dealings

The notification of dealing forms for each Director can be found below. This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

 
 1.    Details of the person discharging managerial 
        responsibilities / person closely associated 
----  ------------------------------------------------------------------ 
 a)    Name                           Joe Wiley 
----  -----------------------------  ----------------------------------- 
 2.    Reason for the notification 
----  ------------------------------------------------------------------ 
 a)    Position / status              Director 
----  -----------------------------  ----------------------------------- 
 b)    Initial notification           Initial notification 
        / amendment 
----  -----------------------------  ----------------------------------- 
 3.    Details of the issuer, emission allowance 
        market participant, auction platform, 
        auctioneer or auction monitor 
----  ------------------------------------------------------------------ 
 a)    Name                           Amryt Pharma plc 
----  -----------------------------  ----------------------------------- 
 b)    Legal entity                   213800BOS8WAJO2BEQ38 
        identifier 
----  -----------------------------  ----------------------------------- 
 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                 Ordinary shares of GBP0.01 
        the financial                  each 
        instrument, type 
        of instrument 
       Identification                 ISIN: GB00BDD1LS57 
        code 
----  -----------------------------  ----------------------------------- 
 b)    Nature of the                  Grant of pptions under 
        transaction                    the Employee Share Option 
                                       Plan 2016 with an exercise 
                                       price of 20.12p to purchase 
                                       2,061,130 ordinary shares. 
----  -----------------------------  ----------------------------------- 
 c)    Currency                       British Pounds 
----  -----------------------------  ----------------------------------- 
 d)    Price(s) and                    Price(s)         Volume(s) 
        volume(s) 
----  -----------------------------   ---------------  --------------- 
    N/A                                                 2,061,130 
   --------------------------------------------------  --------------- 
 e)    Aggregated information 
         *    Aggregated volume         2,061,130 
                                        N/A 
 
         *    Aggregated price 
----  -----------------------------  ----------------------------------- 
 f)    Date of the transaction        29 November 2017 
----  -----------------------------  ----------------------------------- 
 g)    Place of the                   Outside a trading venue 
        transaction 
----  -----------------------------  ----------------------------------- 
 
 
 1.    Details of the person discharging managerial 
        responsibilities / person closely associated 
----  ------------------------------------------------------------------ 
 a)    Name                           Rory Nealon 
----  -----------------------------  ----------------------------------- 
 2.    Reason for the notification 
----  ------------------------------------------------------------------ 
 a)    Position / status              Director 
----  -----------------------------  ----------------------------------- 
 b)    Initial notification           Initial notification 
        / amendment 
----  -----------------------------  ----------------------------------- 
 3.    Details of the issuer, emission allowance 
        market participant, auction platform, 
        auctioneer or auction monitor 
----  ------------------------------------------------------------------ 
 a)    Name                           Amryt Pharma plc 
----  -----------------------------  ----------------------------------- 
 b)    Legal entity                   213800BOS8WAJO2BEQ38 
        identifier 
----  -----------------------------  ----------------------------------- 
 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                 Ordinary shares of GBP0.01 
        the financial                  each 
        instrument, type 
        of instrument 
       Identification                 ISIN: GB00BDD1LS57 
        code 
----  -----------------------------  ----------------------------------- 
 b)    Nature of the                  Grant of options under 
        transaction                    the Employee Share Option 
                                       Plan 2016 with an exercise 
                                       price of 20.12p to purchase 
                                       824,452 ordinary shares. 
----  -----------------------------  ----------------------------------- 
 c)    Currency                       British Pounds 
----  -----------------------------  ----------------------------------- 
 d)    Price(s) and                    Price(s)         Volume(s) 
        volume(s) 
----  -----------------------------   ---------------  --------------- 
    N/A                                                 824,452 
   --------------------------------------------------  --------------- 
 e)    Aggregated information 
         *    Aggregated volume         824,452 
                                        N/A 
 
         *    Aggregated price 
----  -----------------------------  ----------------------------------- 
 f)    Date of the transaction        29 November 2017 
----  -----------------------------  ----------------------------------- 
 g)    Place of the                   Outside a trading venue 
        transaction 
----  -----------------------------  ----------------------------------- 
 

Enquiries:

 
                                  C/o KTZ Communications 
 Amryt Pharma plc                  (details below) 
 Joe Wiley, CEO 
  Rory Nealon, CFO/COO 
 
 Shore Capital                    [phone] 
 Nomad and Joint Broker 
 Edward Mansfield, Mark 
  Percy 
 Davy                             [phone] 
 ESM Adviser and Joint Broker 
 John Frain, Anthony Farrell 
 Stifel                           [phone] 
 Joint Broker 
 Jonathan Senior, Ben Maddison 
 KTZ Communications               [phone] 
 Katie Tzouliadis, Irene 
  Bermont-Penn, Emma Pearson 
 

About Amryt Pharma plc

(www.amrytpharma.com)

Amryt Pharma is a specialty biopharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare or orphan diseases. The Company is building a diversified portfolio of commercially attractive, best-in-class, proprietary new drugs to help address some of these rare and debilitating illnesses for which there are currently no available treatments.

The Company holds an exclusive licence to sell Lojuxta (lomitapide) for adults, across the European Economic Area, Middle East and North Africa, Turkey and Israel. Lojuxta is used to treat a rare life-threatening disease called Homozygous Familial Hypercholesterolemia, which impairs the body's ability to remove LDL cholesterol ("bad" cholesterol) from the blood. This typically results in extremely high blood LDL cholesterol levels, leading to aggressive and premature narrowing and blocking of arterial blood vessels. If left untreated, heart attack or sudden death may occur in childhood or early adulthood.

Amryt's lead drug candidate, AP101, is a potential treatment for Epidermolysis bullosa ("EB"), a rare and distressing genetic skin disorder affecting young children for which there is currently no treatment. It is currently in Phase 3 clinical trials. The global market opportunity for EB is estimated to be in excess of EUR 1.3 billion.

Amryt's earlier stage product AP102 is focused on developing novel, next generation somatostatin analogue ("SSA") peptide medicines for patients with rare neuroendocrine diseases, where there is a high unmet medical need, including acromegaly and Cushing's disease.

The Company joined AIM and Dublin's ESM in April 2016 following the reverse takeover of Fastnet Equity PLC.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 01, 2017 02:01 ET (07:01 GMT)