Source - LSE Regulatory
RNS Number : 7554F
ReNeuron Group plc
17 July 2019
 

 

 

17 July 2019

AIM: RENE

ReNeuron Group plc

 

Director/PDMR 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, announces that the following share option grants were made yesterday under the Company's Long Term Incentive Plan (the "Plan") to directors and Persons Discharging Managerial Responsibilities (PDMRs) listed below.

 

The Plan allows the Company to grant tax-advantaged share options under a Company Share Option Plan (the "CSOP Plan"), as well as non-tax advantaged options.  Where capacity exists for a director/PDMR to be issued share options under the CSOP Plan, these options are issued in parallel with non tax-advantaged options.  The figures per individual below, where applicable, therefore comprise parallel grants of both CSOP Plan share options and non tax-advantaged share options, the terms of each grant ensuring that the exercise of one type of option reduces the number exercisable under the other type of option on a share for share basis. Individuals can therefore elect, subject to their tax status, which specific option grant (CSOP or non tax-advantaged options) they exercise.

Share options granted under the CSOP Plan are over shares up to an aggregate market value of £30,000 (measured at the date of grant) and with an exercise price of 237.5 pence per share, being the closing mid-market price of the Company's shares on 15 July 2019.  Non tax-advantaged options are granted at nominal value.

 

The share options granted to Mr Hellebø and Mr Hunt have been awarded under the Plan in connection with the Company's remuneration policy whereby executive Directors are eligible to earn a non-cash bonus payable in the form of share options based on the achievement of certain objectives in the year to 31 March 2019.  In line with the terms of the Plan and the Company's remuneration policy, these share options are exercisable from the second anniversary of the award and are not subject to performance conditions.

 

The share options granted to Mr Adams are exercisable from the third anniversary of the award and are subject to the achievement of the following performance conditions:

 

1)    When the Company has signed out-licensing deal(s) for any of its technologies or programmes which, together with other financial resources, provides sufficient funding to allow the achievement of clinical proof of concept data for the CTX and hRPC programmes, one third of the options will vest.

2)    When the Company's share price has doubled from the price at the date of grant, one third of the options will vest.

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

 

Share option grants are deemed accepted by the option holder unless expressly rejected within a period of 30 days from the date of grant.

 

 

Name

Title

Date of grant of  share options (i)

Number of share options granted

 

Total shares over which options are held (post award)

Percentage of issued shares under option

Nicholas Adams

VP Business Development & Alliance Management

16 July 2019

77,895

77,895

0.24%

Olav Hellebø

Chief Executive Officer

16 July 2019

30,254

1,096,975

3.45%

Michael Hunt

Chief Financial Officer

16 July 2019

23,697

576,221

1.81%

 

(i) The option grants are under the non-tax advantaged scheme and (where capacity exists) the CSOP Plan (as detailed above).

 

The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation and provide further detail.

 

 

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, Tilly Abraham

 




Stifel Nicolaus Europe Limited

+44 (0) 20 7710 7600

Jonathan Senior, Stewart Wallace, Ben Maddison

(NOMAD and Joint Broker)

 


N+1 Singer

+44 (0) 20 7496 3000

Aubrey Powell, James Moat, Iqra Amin

(Joint Broker)




 

About ReNeuron

ReNeuron is a global leader in cell-based therapeutics, harnessing its unique stem cell technologies to develop 'off the shelf' stem cell treatments, without the need for immunosuppressive drugs.  The Company's lead clinical-stage candidates are in development for the blindness-causing disease, retinitis pigmentosa, and for disability as a result of stroke.  ReNeuron is also advancing its proprietary exosome technology platform as a potential delivery system for drugs that would otherwise be unable to reach their site of action.  ReNeuron's shares are traded on the London AIM market under the symbol RENE.L.  For further information visit www.reneuron.com.



Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 

 (Disclosure in relation to share options granted to Directors and PDMRs)

 

 

 1 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Nicholas Adams

2

Reason for the notification 

a)

Position/status 

VP Business Development & Alliance Management

b)

Initial notification /Amendment 

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name 

ReNeuron Group plc

b)

LEI  

2138003TU12CQ5TZO137

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 instrument, type of instrument 

Identification code 

Ordinary Shares 1p

RENE - GB00BF5G6K95

b)

Nature of the transaction 

Grant of share options and conditional rights

c)

Price(s) and volume(s)

 

 Price(s) 

Volume(s)

1p

77,895

d)

 

Aggregated information 

N/A

e)

Date of the transaction 

Granted 16 July 2019

f)

Place of the transaction 

Outside a trading venue

 

 

 

 

 

 

 1 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Olav Hellebo

2

Reason for the notification 

a)

Position/status 

Chief Executive Officer

b)

Initial notification /Amendment 

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name 

ReNeuron Group plc

b)

LEI  

2138003TU12CQ5TZO137

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 instrument, type of instrument 

Identification code 

Ordinary Shares 1p

RENE - GB00BF5G6K95

b)

Nature of the transaction 

Grant of share options

c)

Price(s) and volume(s)

 

 Price(s) 

Volume(s)

1p

30,254

d)

 

Aggregated information 

N/A

e)

Date of the transaction 

Granted 16 July 2019

f)

Place of the transaction 

Outside a trading venue

 

 

 

 

 

 1 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Michael Hunt

2

Reason for the notification 

a)

Position/status 

Chief Financial Officer

b)

Initial notification /Amendment 

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name 

ReNeuron Group plc

b)

LEI  

2138003TU12CQ5TZO137

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 instrument, type of instrument 

Identification code 

Ordinary Shares 1p

RENE - GB00BF5G6K95

b)

Nature of the transaction 

Grant of share options

c)

Price(s) and volume(s)

 

 Price(s) 

Volume(s)

1p

23,697

d)

 

Aggregated information 

N/A

e)

Date of the transaction 

Granted 16 July 2019

f)

Place of the transaction 

Outside a trading venue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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