Arecor Therapeutics PLC Grant of Options, PDMR Dealing (5231T)

TIDMAREC

RNS Number : 5231T

Arecor Therapeutics PLC

25 November 2021

Arecor Therapeutics plc

("Arecor", the "Company" or the "Group")

Grant of Options, PDMR Dealing

Cambridge, UK, 25 November 2021: Arecor Therapeutics plc (AIM: AREC), the biopharmaceutical group advancing today's therapies to enable healthier lives , announces that on 24 November 2021, it granted a total of 87,500 options under the Company's All Employee Share Ownership Plan ("AESOP Options") and 75,000 options under the Company's Long Term Incentive Plan ("LTIP Options") over new ordinary shares of 0.1 pence each in the Company ("Ordinary Shares").

The AESOP Options, which vest after 12 months, are exercisable at GBP4.15, subject to continuous employment, and are exercisable up to ten years from the date of grant. The LTIP Options are exercisable at GBP0.01, subject to continued employment and the meeting of certain performance conditions, and are exercisable up to ten years from the date of grant. 40,000 of the AESOP Options and 75,000 of the LTIP Options were granted to Lindsey Foulkes, Chief Operating Officer and a PDMR of the Company. Following this grant of options, Lindsey Foulkes holds 115,000 options over Ordinary Shares 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: [phone] 
  Officer                                   Email: [e-mail] 
 
 Susan Lowther, Chief Financial Officer    Tel: [phone] 
                                            Email: [e-mail] 
 
 Mo Noonan, Communications                 Tel: [phone] 
                                            Email: [e-mail] 
 
 
   Panmure Gordon (UK) Limited               Tel: [phone] 
   (NOMAD and Broker) 
   Freddy Crossley, Emma Earl (Corporate 
   Finance) 
   Rupert Dearden (Corporate Broking) 
 
 
   Consilium Strategic Communications 
 Chris Gardner, David Daley, Angela        Tel: [phone] 
  Gray                                      Email: [e-mail] 
 

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:                               Lindsey Foulkes 
     ----------------------------------  ----------------------------------- 
 2.   Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status:                    Chief Operating 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) 
                                             GBP0.01              75,000 
                                                                 ---------- 
                                             GBP4.15              40,000 
                                                                 ---------- 
     ----------------------------------  ----------------------------------- 
 d)   Aggregated information: 
        *    Aggregated volume:             115,000 
                                            N/A 
 
        *    Price: 
     ----------------------------------  ----------------------------------- 
 e)   Date of the transaction:            24 November 2021 
     ----------------------------------  ----------------------------------- 
 f)   Place of the transaction:           Outside of a trading venue 
     ----------------------------------  ----------------------------------- 
 

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November 25, 2021 02:00 ET (07:00 GMT)