TIDMRENE
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 GBP30,000 (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 Total shares Percentage
grant Number over which of issued
of share of share options shares
options options are held under option
(i) granted (post award)
VP Business Development 16 July
Nicholas Adams & Alliance Management 2019 77,895 77,895 0.24%
------------------------- ----------- ---------- -------------- --------------
Chief Executive 16 July
Olav Hellebø Officer 2019 30,254 1,096,975 3.45%
------------------------- ----------- ---------- -------------- --------------
Chief Financial 16 July
Michael Hunt Officer 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)
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Nicholas Adams
--------------------------- ----------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/status VP Business Development & Alliance Management
--------------------------- ----------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------- ----------------------------------------------
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 Ordinary Shares 1p
the financial instrument, RENE - GB00BF5G6K95
type of instrument
Identification
code
--------------------------- ----------------------------------------------
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
--------------------------- ----------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Olav Hellebo
-------------------------------------- ---------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Chief Executive Officer
-------------------------------------- ---------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------------------- ---------------------------------
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 Ordinary Shares 1p
the financial instrument, RENE - GB00BF5G6K95
type of instrument
Identification
code
-------------------------------------- ---------------------------------
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
-------------------------------------- ---------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Michael Hunt
-------------------------------------- ---------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Chief Financial Officer
-------------------------------------- ---------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------------------- ---------------------------------
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 Ordinary Shares 1p
the financial instrument, RENE - GB00BF5G6K95
type of instrument
Identification
code
-------------------------------------- ---------------------------------
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
-------------------------------------- ---------------------------------
This information is provided by RNS, the news service of the
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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