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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Arecor Therapeutics Plc | LSE:AREC | London | Ordinary Share | GB00BMWLM973 | ORD GBP0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 128.50 | 127.00 | 130.00 | 128.50 | 128.50 | 128.50 | 3,300 | 08:00:18 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Coml Physical, Biologcl Resh | 3.54M | -9.26M | -0.3024 | -4.25 | 39.35M |
TIDMAREC
RNS Number : 3990A
Arecor Therapeutics PLC
24 May 2023
Arecor Therapeutics plc
("Arecor", the "Company" or the "Group")
Grant of Options and PDMR Dealing
Cambridge, UK, 24 May 2023: Arecor Therapeutics plc (AIM: AREC), the biopharmaceutical group advancing today's therapies to enable healthier lives, announces that on 23 May 2023, it granted a total of 190,000 options under the Company's Long Term Incentive Plan ("LTIP Options") and a further 86,250 options under the Company's All Employee Share Ownership Plan ("AESOP Options") over new ordinary shares of 1 pence each in the Company ("Ordinary Shares").
The LTIP Options have an exercise price of 1p and are granted to persons discharging managerial responsibilities (" PDMRs") of the Company. Performance conditions include commercial objectives and Total Shareholder Return during the three-year performance period. The LTIP Options are subject to continued service and the extent to which the performance conditions are satisfied. Vested LTIP Options will normally be exercisable until the tenth anniversary of the grant date, after which time they will lapse. They are subject to a condition that the LTIP Options or the Ordinary Shares acquired on exercise of the LTIP Options (other than those sold to cover tax and National Insurance) are held for a minimum one-year period from vesting.
The AESOP Options vest after 36 months and are exercisable at GBP2.55 per share, being the closing market price of an Ordinary Share on the day preceding the date of grant. The AESOP Options are subject to continuous employment and are exercisable until the tenth anniversary of the date of grant, after which date the option will lapse. The grant of options included 40,000 AESOP Options granted to a person discharging managerial responsibilities ("PDMR"), Manjit Rahelu, Chief Business Officer of the Company.
The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.
For further information, please contact:
Arecor Therapeutics plc www.arecor.com Dr Sarah Howell, Chief Executive Tel: +44 (0) 1223 426060 Officer Email: info@arecor.com Susan Lowther, Chief Financial Officer Tel: +44 (0) 1223 426060 Email: info@arecor.com Mo Noonan, Communications Tel: +44 (0) 7876 444977 Email: mo.noonan@arecor.com Panmure Gordon (UK) Limited Tel: +44 (0) 20 7886 2500 (NOMAD and Broker) Freddy Crossley, Emma Earl (Corporate Finance) Rupert Dearden (Corporate Broking) Consilium Strategic Communications Chris Gardner, David Daley, Lindsey Tel: +44 (0) 20 3709 5700 Neville Email: arecor@consilium-comms.com
Notes to Editors
About Arecor
Arecor Therapeutics plc is a globally focused biopharmaceutical company transforming patient care by bringing innovative medicines to market through the enhancement of existing therapeutic products. By applying our innovative proprietary formulation technology platform, Arestat(TM), we are developing an internal portfolio of proprietary products in diabetes and other indications, as well as working with leading pharmaceutical and biotechnology companies to deliver enhanced formulations of their therapeutic products. The Arestat (TM) platform is supported by an extensive patent portfolio.
For further details please see our website, www.arecor.com
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
Details of the person discharging managerial responsibilities/person closely associated a) Name: Manjit Rahelu ----------------------------------- ---------------------------------- 2. Reason for the notification ----------------------------------------------------------------------- a) Position/status: Chief Business Officer ----------------------------------- ---------------------------------- b) Initial notification/Amendment: Initial notification ----------------------------------- ---------------------------------- 3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ----------------------------------------------------------------------- a) Name: Arecor Therapeutics plc ----------------------------------- ---------------------------------- b) LEI: 98450093D12I3A8DDD58 ----------------------------------- ---------------------------------- 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 1 pence instrument, type of instrument: each Identification code: GB00BMWLM973 ----------------------------------- ---------------------------------- b) Nature of the transaction: Grant of options over ordinary shares ----------------------------------- ---------------------------------- c) Price(s) and volume(s): Exercise Price(s) Volume(s) (GBP) 0.01 190,000 ---------- 2.55 40,000 ---------- ----------------------------------- ---------------------------------- d) Aggregated information: * Aggregated volume: 230,000 N/A * Price: ----------------------------------- ---------------------------------- e) Date of the transaction: 23 May 2023 ----------------------------------- ---------------------------------- f) Place of the transaction: Outside of a trading venue ----------------------------------- ----------------------------------
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May 24, 2023 02:00 ET (06:00 GMT)
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