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RENE Reneuron Group Plc

3.05
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Reneuron Group Plc LSE:RENE London Ordinary Share GB00BF5G6K95 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 3.05 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Pharmaceutical Preparations 530k -5.41M -0.0946 -0.32 1.74M

ReNeuron Group plc Directors' Interest in Shares and Share Options (7721E)

20/07/2016 2:31pm

UK Regulatory


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TIDMRENE

RNS Number : 7721E

ReNeuron Group plc

20 July 2016

 
 20 July 2016   AIM: RENE 
 

ReNeuron Group plc

Directors' Interest in Shares and Share Options

ReNeuron Group plc (the "Company") (AIM: RENE), a UK-based global leader in the development of cell-based therapeutics, today announces that on 19 July 2016, the following awards were made under the Company's share-based incentive plans:

1. Long Term Incentive Plan (LTIP)

 
                    Number of LTIP 
                    share options 
                    granted 
 
Olav Hellebø   19,066,667 
Michael Hunt         8,291,667 
 
 
 

The LTIP awards are share options granted at nominal value and are subject to a three-year holding period, exercisable from the third anniversary of the award. The options are exercisable subject to the achievement of the following performance conditions:

1) When the first patient is administered with a ReNeuron cell therapy in a seventh clinical trial, one third of the options will vest.

2) When the fifth clinical trial of a ReNeuron cell therapy completes, one third of the options will vest.

3) If the Total Shareholder Return (TSR) of the Company meets or exceeds that of the FTSE AIM Healthcare Index in any given three year period from the date of grant, one third of the options will vest.

2. Deferred Share-based Bonus Plan

 
                    Number of Bonus 
                    Plan share options 
                    granted 
 
Olav Hellebø   2,500,000 
Michael 
 Hunt               1,250,000 
 
 
 

The Deferred Share-based Bonus plan awards are share options granted at nominal value in lieu of an equivalent cash bonus and are subject to a two-year holding period, exercisable from the second anniversary of the award.

After the above share option grants, the executive directors of the Company have the following share option holdings:

 
 
                    Total shares  Percentage of issued 
                     over which    shares under option 
                     options are 
                     held 
 
Olav Hellebø   55,245,859    1.75% 
Michael Hunt        33,791,685    1.07% 
 

3. Non-Executive Share Option Scheme

 
                                  Total shares over 
                 Number of         which options are 
                  shares awarded   held 
 
John Berriman    300,000          2,555,322 
Simon Cartmell   300,000          2,555,322 
Tim Corn         300,000          1,875,249 
 
   Chris Evans              300,000                      1,300,000 
   Paul Harper              300,000                      3,346,183 
   Mike Owen               300,000                         300,000 

The Non-Executive Directors of the Company are remunerated partly in cash and partly in the form of share options granted under the Non-Executive Share Option Scheme. In order to remove as far as possible any incentive element that might influence the Non-Executive Directors' independence, share options are granted under the Non-Executive Share Option Scheme at nominal value without performance conditions attaching and vest over three years on a straight line basis.

ENDS

ENQUIRIES:

 
ReNeuron                                                            +44 (0)20 3819 8400 
Olav Hellebø , Chief Executive Officer 
Michael Hunt, Chief Financial Officer 
Buchanan                                                            +44 (0) 20 7466 5000 
Mark Court, Sophie Cowles, Stephanie Watson 
 
Stifel Nicolaus Europe Limited                                      +44 (0) 20 7710 7600 
Jonathan Senior, Stewart Wallace, Ben Maddison (NOMAD and Broker) 
 

About ReNeuron

ReNeuron is a leading, clinical-stage cell therapy development company. Based in the UK, its primary objective is the development of novel cell-based therapies targeting areas of significant unmet or poorly met medical need.

ReNeuron has used its unique stem cell technologies to develop cell-based therapies for significant disease conditions where the cells can be readily administered "off-the-shelf" to any eligible patient without the need for additional immunosuppressive drug treatments. The Company has therapeutic candidates in clinical development for motor disability as a result of stroke, for critical limb ischaemia and for the blindness-causing disease, retinitis pigmentosa.

ReNeuron is also advancing its proprietary exosome technology platform as a potential new nanomedicine targeting cancer and as a potential delivery system for gene therapy treatments.

ReNeuron's shares are traded on the London AIM market under the symbol RENE.L. Further information on ReNeuron and its products can be found at www.reneuron.com.

This announcement contains forward-looking statements with respect to the financial condition, results of operations and business achievements/performance of ReNeuron and certain of the plans and objectives of management of ReNeuron with respect thereto. These statements may generally, but not always, be identified by the use of words such as "should", "expects", "estimates", "believes" or similar expressions. This announcement also contains forward-looking statements attributed to certain third parties relating to their estimates regarding the growth of markets and demand for products. By their nature, forward-looking statements involve risk and uncertainty because they reflect ReNeuron's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of factors could cause ReNeuron's actual financial condition, results of operations and business achievements/performance to differ materially from the estimates made or implied in such forward-looking statements and, accordingly, reliance should not be placed on such statements.

This information is provided by RNS

The company news service from the London Stock Exchange

END

DSHXBLFLQDFLBBD

(END) Dow Jones Newswires

July 20, 2016 09:31 ET (13:31 GMT)

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