Amryt Pharma PLC Grant of Options (3870S)

TIDMAMYT

RNS Number : 3870S

Amryt Pharma PLC

05 November 2019

5 November 2019

AIM: AMYT

Euronext Growth: 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 10,215,400 share options ("Options") to subscribe for ordinary shares of 6p each in the Company ("Shares") under the Employee Share Option Plan 2019 (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 GBP1.215p ("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 Director and Company Secretary have the following options:

 
 Director / Company    Options granted   Total Options now 
      Secretary                                 held 
 Joe Wiley                5,777,900          6,437,460 
                      ----------------  ------------------ 
 Rory Nealon              4,437,500          4,826,823 
                      ----------------  ------------------ 
 

PDMR Dealings

The notification of dealing forms for each Director/Company Secretary 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 identifier                213800YNUJEOJ84L4T95 
      -------------------------------------  ----------------------------------------------- 
 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                     Ordinary shares of GBP0.06 each 
        financial instrument, 
        type of instrument 
       Identification code                    ISIN: GB00BKLTQ412 
      -------------------------------------  ----------------------------------------------- 
 b)    Nature of the transaction              Grant of options under the Employee 
                                               Share Option Plan 2019 with an exercise 
                                               price of GBP1.215 to purchase 5,777,900 
                                               ordinary shares. 
      -------------------------------------  ----------------------------------------------- 
 c)    Currency                               British Pounds 
      -------------------------------------  ----------------------------------------------- 
 d)    Price(s) and volume(s)                  Price(s)                Volume(s) 
      -------------------------------------   ----------------------  -------------------- 
    N/A                                                                5,777,900 
   -----------------------------------------------------------------  -------------------- 
 e)    Aggregated information 
         *    Aggregated volume                 5,777,900 
                                                N/A 
 
         *    Aggregated price 
      -------------------------------------  ----------------------------------------------- 
 f)    Date of the transaction                5 November 2019 
      -------------------------------------  ----------------------------------------------- 
 g)    Place of the transaction               Outside a trading venue 
      -------------------------------------  ----------------------------------------------- 
 
 
 1.    Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                   Rory Nealon 
      -------------------------------------  ----------------------------------------------- 
 2.    Reason for the notification 
      -------------------------------------------------------------------------------------- 
 a)    Position / status                      PDMR - CFO and Company Secretary 
      -------------------------------------  ----------------------------------------------- 
 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 identifier                213800YNUJEOJ84L4T95 
      -------------------------------------  ----------------------------------------------- 
 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                     Ordinary shares of GBP0.06 each 
        financial instrument, 
        type of instrument 
       Identification code                    ISIN: GB00BKLTQ412 
      -------------------------------------  ----------------------------------------------- 
 b)    Nature of the transaction              Grant of options under the Employee 
                                               Share Option Plan 2019 with an exercise 
                                               price of GBP1.215 to purchase 4,437,500 
                                               ordinary shares. 
      -------------------------------------  ----------------------------------------------- 
 c)    Currency                               British Pounds 
      -------------------------------------  ----------------------------------------------- 
 d)    Price(s) and volume(s)                  Price(s)                Volume(s) 
      -------------------------------------   ----------------------  -------------------- 
    N/A                                                                4,437,500 
   -----------------------------------------------------------------  -------------------- 
 e)    Aggregated information 
         *    Aggregated volume                 4,437,500 
                                                N/A 
 
         *    Aggregated price 
      -------------------------------------  ----------------------------------------------- 
 f)    Date of the transaction                5 November 2019 
      -------------------------------------  ----------------------------------------------- 
 g)    Place of the transaction               Outside a trading venue 
      -------------------------------------  ----------------------------------------------- 
 

Enquiries:

 
 Amryt Pharma plc                              [phone] 
 Joe Wiley, CEO 
  Rory Nealon, CFO/COO 
 
   Shore Capital                               [phone] 
 NOMAD and Joint Broker 
 Edward Mansfield, Mark Percy, Daniel Bush, 
  John More 
 Stifel                                        [phone] 
 Joint Broker 
 Jonathan Senior, Ben Maddison 
 Davy                                          [phone] 
 ESM Adviser and Joint Broker 
 John Frain, Daragh O'Reilly 
 
   Consilium Strategic Communications          [phone] 
 Amber Fennell, Matthew Neal, Nicholas 
  Brown 
 
   LifeSci Advisors, LLC                       [phone] 
 Tim McCarthy 
 

About Amryt

Amryt is a biopharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare and orphan diseases. Amryt comprises a strong and growing portfolio of commercial and development assets.

Amryt's commercial business comprises two orphan disease products.

Juxtapid(R)/ Lojuxta(R) (lomitapide) is approved as an adjunct to a low-fat diet and other lipid-lowering medicinal products for adults with the rare cholesterol disorder, Homozygous Familial Hypercholesterolaemia ("HoFH") in the US, Canada, Columbia, Argentina and Japan (under the trade name, Juxtapid(R)) and in the EU (under the trade name, Lojuxta(R)). HoFH is a rare genetic disorder which impairs the body's ability to remove low density lipoprotein ("LDL") cholesterol ("bad" cholesterol) from the blood, typically leading to abnormally high blood LDL cholesterol levels in the body from before birth - often ten times more than people without HoFH - and subsequent aggressive and premature cardiovascular disease.

Myalept(R) / Myalepta(R) (metreleptin) is approved in the US (under the trade name, Myalept(R)) as an adjunct to diet as replacement therapy to treat the complications of leptin deficiency in patients with congenital or acquired generalized lipodystrophy (GL) and in the EU (under the trade name, Myalepta(R)) for the treatment of leptin deficiency in patients with congenital or acquired GL in adults and children two years of age and above and familial or acquired partial lipodystrophy (PL) in adults and children 12 or over for whom standard treatments have failed to achieve adequate metabolic control. Metreleptin is also approved for lipodystrophy in Japan. Generalised and partial lipodystrophy are rare disorders characterised by loss or lack of adipose tissue resulting in the deficiency of the hormone leptin, produced by fat cells and are associated with severe metabolic abnormalities including severe insulin resistance, diabetes, hypertriglyceridemia and fatty liver disease.

Amryt's lead development candidate, AP101 (Oleogel-S10), is a potential treatment for the cutaneous manifestations of Epidermolysis Bullosa ("EB"), a rare and distressing genetic skin disorder affecting young children and adults for which there is currently no approved treatment. It is currently being studied in a Phase 3 clinical trial and recently reported that unblinded interim efficacy data supported continuation of the study with a modest increase in sample size and unblinded interim safety data allowed the inclusion of children from as young as 21 days old. AP101 has been granted FDA Pediatric Rare Disease Designation and has also received a Fast Track Designation from the FDA. The European and US market opportunity for EB is estimated by the Directors to be in excess of $1 billion.

In March 2018, Amryt in-licenced a pre-clinical gene-therapy platform technology, AP103, which offers a potential treatment for patients with Recessive Dystrophic Epidermolysis Bullosa, a subset of EB, and is also potentially relevant to other genetic disorders.

For more information on Amryt, including products, please visit www.amrytpharma.com

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014

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 [e-mail] or visit www.rns.com.

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November 05, 2019 13:16 ET (18:16 GMT)