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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 |
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
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(END) Dow Jones Newswires
July 20, 2016 09:31 ET (13:31 GMT)
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