TIDMRENE
RNS Number : 6919O
ReNeuron Group plc
11 February 2021
11 February 2021 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 on 10
February 2021 under the Company's Long Term Incentive Plan (the
"Plan"), its US Incentive Stock Option Plan (the "US Plan") and its
Non-Executive Share Option Scheme 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 and except where
indicated, 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.
The Plan also allows the Company to grant Incentive Stock
Options ("ISOs") under the US Plan, as well as a conditional right
to receive shares ("Conditional Rights") to employees in the US.
Where a US employee is issued ISOs under the US Plan, these options
are issued in parallel with Conditional Rights. The figures per
individual below, where applicable and except where indicated,
therefore comprise parallel grants of both ISOs and Conditional
Rights, the terms of each grant ensuring that the exercise of one
type of option or right reduces the number that vest under the
other type of option or right on a share for share basis. The
Conditional Rights are granted at nominal value and the ISOs have
an exercise price of 107.5 pence per share being the closing price
of the Company's shares on 09 February 2021.
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 107.5 pence per share, being
the closing mid-market price of the Company's shares on 09 F
ebruary 2021. Non tax-advantaged options are granted at nominal
value.
Share options granted under the Plan and the US Plan (unless
otherwise stated) 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 at least one further significant
business development deal for any of its technologies or
programmes, one third of the options will vest.
2) When the Company's share price has tripled from the price at
the date of grant, one third of the options will vest.
3) When the extended RP Phase 2a clinical study with hRPC has
demonstrated efficacy sufficient for progression to a potentially
pivotal study, one third of the options will vest.
The Non-Executive Directors of the Company are remunerated
partly in cash and partly in the form of share options granted
under the Non-Executive Share Option Scheme. In order to remove as
far as possible any incentive element that might influence the
Non-Executive Directors' independence, share options are granted at
nominal value without performance conditions attaching and vest
over three years on a straight line basis.
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 Number Total shares Percentage
grant of share over which of issued
of share options options shares
options granted are held under option
(i) (post award)
Non-executive 10 February
Tim Corn Chairman 2021 13,500 60,952 0.11%
-------------------- ------------- ---------- -------------- --------------
Non-executive 10 February
Chris Evans Director 2021 13,500 55,200 0.10%
-------------------- ------------- ---------- -------------- --------------
Non-executive 10 February
Mike Owen Director 2021 13,500 45,200 0.08%
-------------------- ------------- ---------- -------------- --------------
Chief Executive 10 February
Olav Hellebo Officer 2021 331,382 1,428,357 2.51%
-------------------- ------------- ---------- -------------- --------------
Chief Financial 10 February
Michael Hunt Officer 2021 145,185 711,051 1.25%
-------------------- ------------- ---------- -------------- --------------
Chief Medical 10 February
Richard Beckman(ii) Officer 2021 159,554 460,082 0.81%
-------------------- ------------- ---------- -------------- --------------
Head of Regulatory 10 February
Shaun Stapleton Affairs 2021 84,707 360,604 0.63%
-------------------- ------------- ---------- -------------- --------------
10 February
Suzanne Hancock Head of Operations 2021 86,326 99,326 0.17%
-------------------- ------------- ---------- -------------- --------------
(i) The option grants are under the non-tax advantaged scheme
and (where capacity exists) the CSOP Plan (as detailed above) save
for (ii) below, which has been granted under the US Plan, and the
Non-Executive Directors' grants.
(ii) The grant to Dr Beckman includes the grant of ISOs under
the US Plan and Conditional Rights under The Plan. These options or
rights are exercisable subject to achievement of performance
conditions (1) to (3) above. The ISOs and Conditional Rights vest
from the second anniversary of grant onwards, the ISOs being
subject to an annual $100,000 limit based on the aggregate fair
value of shares subject to grant measured on the date of grant.
The notifications set out below are provided in accordance with
the requirements of the EU Market Abuse Regulation and provide
further detail.
S
Contacts:
ReNeuron +44 (0) 20 3819 8400
Olav Hellebø, Chief Executive Officer
Michael Hunt, Chief Financial Officer
info@reneuron.com
Buchanan (Media/Investor Relations) +44 (0) 20 7466 5000
Mark Court, Sophie Wills, Tilly Abraham
reneuron@buchanan.uk.com
Stifel Nicolaus Europe Limited (NOMAD
and Joint Broker)
Ben Maddison, Stewart Wallace +44 (0) 20 7710 7600
N+1 Singer (Joint Broker)
Aubrey Powell, James Moat, Tom Salvesen +44 (0) 20 7496 3000
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 cell therapy candidate is in clinical
development for the blindness-causing disease, retinitis
pigmentosa.
ReNeuron is also advancing its proprietary exosome technology
platform as a potential delivery system for drugs that treat
diseases of the brain. The Company also has the ability through its
conditionally immortalised induced pluripotent stem cell (iPSC)
platform to make any tissue cells of choice; in-house programmes
are focused on treatments for blood cancers and diabetes.
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 Tim Corn
------------------------------------- ----------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Non-Executive Director
------------------------------------- ----------------------------------
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 13,500
----------
------------------------------------- ----------------------------------
d) Aggregated information N/A
------------------------------------- ----------------------------------
e) Date of the transaction Granted 10 February 2021
------------------------------------- ----------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------- ----------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Chris Evans
------------------------------------- ----------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Non-Executive Director
------------------------------------- ----------------------------------
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 13,500
----------
------------------------------------- ----------------------------------
d) Aggregated information N/A
------------------------------------- ----------------------------------
e) Date of the transaction Granted 10 February 2021
------------------------------------- ----------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------- ----------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mike Owen
------------------------------------- ----------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Non-Executive Director
------------------------------------- ----------------------------------
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 13,500
----------
------------------------------------- ----------------------------------
d) Aggregated information N/A
------------------------------------- ----------------------------------
e) Date of the transaction Granted 10 February 2021
------------------------------------- ----------------------------------
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 331,382
----------
------------------------------------- ----------------------------------
d) Aggregated information N/A
------------------------------------- ----------------------------------
e) Date of the transaction Granted 10 February 2021
------------------------------------- ----------------------------------
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 145,185
----------
------------------------------------- ----------------------------------
d) Aggregated information N/A
------------------------------------- ----------------------------------
e) Date of the transaction Granted 10 February 2021
------------------------------------- ----------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------- ----------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Richard Beckman
--------------------------- ----------------------------------------------
2 Reason for the notification - Option award to a PDMR
---------------------------------------------------------------------------
a) Position/status Chief Medical 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 and conditional rights
--------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1p 159,554
----------
--------------------------- ----------------------------------------------
d) Aggregated information N/A
--------------------------- ----------------------------------------------
e) Date of the transaction Granted 10 February 2021
--------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------- ----------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Shaun Stapleton
------------------------------------ -----------------------------------
2 Reason for the notification - Option award to a PDMR
-------------------------------------------------------------------------
a) Position/status Head of Regulatory Affairs
------------------------------------ -----------------------------------
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 84,707
----------
------------------------------------ -----------------------------------
d) Aggregated information N/A
------------------------------------ -----------------------------------
e) Date of the transaction Granted 10 February 2021
------------------------------------ -----------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------ -----------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Suzanne Hancock
------------------------------------- ----------------------------------
2 Reason for the notification - Option award to a PDMR
-------------------------------------------------------------------------
a) Position/status Head of Operations
------------------------------------- ----------------------------------
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 86,326
----------
------------------------------------- ----------------------------------
d) Aggregated information N/A
------------------------------------- ----------------------------------
e) Date of the transaction Granted 10 February 2021
------------------------------------- ----------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------- ----------------------------------
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