Arecor Therapeutics plc
("Arecor", the "Company" or the "Group")
Exercise of options, PDMR dealing and Total Voting Rights
Cambridge, UK, 25 October 2021: Arecor Therapeutics plc (AIM: AREC), the biopharmaceutical group advancing today's therapies to enable healthier lives, announces that it has issued and allotted 151,492 new Ordinary Shares of 1 pence each in the share capital of the Company following an exercise of options on 25 October 2021 at an exercise price of 1 pence per Ordinary Share. The options exercised were part of the rollover of share options previously granted under the historic Arecor Limited EMI Share Option Plan 2018 ("Option Rollover"). Details of the Option Rollover are set out in the Company's Admission Document.
Included in the exercise of options were options over 123,336 ordinary shares held by Directors/PDMRs of the Company as detailed in the table below:
| Director/ PDMR | Position | Existing interest in Ordinary Shares | Number of Options over Ordinary Shares exercised | Resultant interest in Ordinary Shares | Options remaining after exercise |
| David Gerring | VP, Development | 142,956 | 8,336 | 151,292 | 83,334 |
| Sarah Howell | Chief Executive Officer | 788,742 | 51,664 | 840,406 | 360,666 |
| Jan Jezek | Chief Scientific Officer | 396,138 | 8,336 | 404,474 | 163,334 |
| Fiona Lawrence | VP, Clinical & Regulatory Affairs | 66,168 | 4,166 | 70,334 | 81,666 |
| Susan Lowther | Chief Financial Officer | 110,681 | 25,834 | 136,515 | 322,000 |
| James MacDonald-Clink | VP, Business Development | - | 25,000 | 25,000 | 105,000 |
Admission
Following the above transactions, application has been made for the 151,492 new Ordinary Shares to be admitted to trading on AIM ("Admission") and dealings are expected to commence on, or around, 29 October 2021. The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares.
The total number of Ordinary Shares in issue following Admission will be 27,835,024. Accordingly, the figure of 27,835,024 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.
For further information, please contact:
| Arecor Therapeutics plc
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| Dr Sarah Howell, Chief Executive Officer | Tel: +44 (0) 1223 426060 Email: info@arecor.com
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| Susan Lowther, Chief Financial Officer | Tel: +44 (0) 1223 426060 Email: info@arecor.com
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| Mo Noonan, Communications | Tel: +44 (0) 7876 444977 Email: mo.noonan@arecor.com |
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Panmure Gordon (UK) Limited (NOMAD and Broker) Freddy Crossley, Emma Earl (Corporate Finance) Rupert Dearden (Corporate Broking) |
Tel: +44 (0) 20 7886 2500
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Consilium Strategic Communications | |
| Chris Gardner, David Daley, Angela Gray | Tel: +44 (0) 20 3709 5700 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™, 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 ™ 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: | a) David Gerring b) Sarah Howell c) Jan Jezek d) Fiona Lawrence e) Susan Lowther f) James MacDonald-Clink
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| 2. | Reason for the notification | |||||||||||||||
| a) | Position/status: | a) VP, Development b) Chief Executive Officer c) Chief Scientific Officer d) VP, Clinical & Regulatory Affairs e) Chief Financial Officer f) VP, Business Development
| ||||||||||||||
| 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 instrument, type of instrument: Identification code: | Ordinary shares of 1 pence each GB00BMWLM973 | ||||||||||||||
| b) | Nature of the transaction: | Exercise of options over ordinary shares | ||||||||||||||
| c) | Price(s) and volume(s): |
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| d) | Aggregated information: · Aggregated volume: · Price: |
123,336 £0.01 | ||||||||||||||
| e) | Date of the transaction: | 25 October 2021 | ||||||||||||||
| f) | Place of the transaction: | London Stock Exchange, AIM Market (XLON) | ||||||||||||||
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