21st Oct 2019 13:09
21 October 2019
Diurnal Group plc
("Diurnal" or the "Company")
Director Dealings
Diurnal Group plc (AIM: DNL), the specialty pharmaceutical company targeting patient needs in chronic endocrine (hormonal) diseases, announces the following Directors' dealings undertaken for tax planning purposes:
Martin Whitaker, Chief Executive Officer, exercised options over 424,500 ordinary shares of £0.05 each ("Ordinary Shares") at a price of 0.2p pence per Ordinary Share and sold 230,152 Ordinary Shares at a price of 26 pence per ordinary share in order to fund the exercise price, income taxes, and to satisfy market demand for shares following recent investor meetings. Martin Whitaker retained 194,348 Ordinary Shares.
Richard Ross, Chief Scientific Officer, exercised options over 1,349,000 Ordinary Shares at a price of 26 pence per Ordinary Share and sold 731,386 Ordinary Shares at a price of 26 pence per Ordinary Share in order to fund the exercise price, income taxes, and to satisfy market demand for shares following recent investor meetings. Richard Ross retained 617,614 Ordinary Shares.
John Goddard, Non-Executive Director of the Company, has been issued and allotted 12,939 Ordinary Shares as part of a pre-existing arrangement whereby he receives shares in the Company in lieu of part of his Non-executive director fees
All Ordinary Shares were issued from the Company's Employee Benefit Trust scheme.
Following the transactions, the total beneficial interest of Martin Whitaker and his connected parties is 314,991 Ordinary Shares, representing 0.36% of the total voting rights, the total beneficial interest of Richard Ross and his connected parties is 2,182,420 Ordinary Shares, representing 2.53% of the total voting rights, and the total beneficial interest of John Goddard and his connected parties is 128,299 Ordinary Shares, representing 0.15% of the total voting rights.
Details of the full notifications received by the Company are set out below:
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Martin Whitaker | |||
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
| Diurnal Group plc | |||
b)
| LEI
| 213800I2HNUNZN1LDH29 | |||
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 | Ordinary shares of 5 pence each in Diurnal Group plc | |||
Identification code | GB00BDB6Q760 | ||||
b)
| Nature of the transaction
| Exercise of share options and sale of ordinary shares
| |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Exercise 0.2p Sales 26p | 424,500 230,152 |
| |||
d)
| Aggregated information | ||||
- Aggregated volume | As above | ||||
- Price | |||||
e)
| Date of the transaction
| 21 October 2019 | |||
f)
| Place of the transaction
| XLON | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Richard Ross | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Scientific Officer | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Diurnal Group plc | |||
b)
| LEI
| 213800I2HNUNZN1LDH29 | |||
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 | Ordinary shares of 5 pence each in Diurnal Group plc | |||
Identification code | GB00BDB6Q760 | ||||
b)
| Nature of the transaction
| Exercise of share options and sale of ordinary shares
| |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Exercise 0.2p Sales 26p | 1,349,000 731,386 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | As above | ||||
- Price | |||||
e)
| Date of the transaction
| 21 October 2019 | |||
f)
| Place of the transaction
| XLON | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| John Goddard | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Non-executive Director | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Diurnal Group plc | |||
b)
| LEI
| 213800I2HNUNZN1LDH29 | |||
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 | Ordinary shares of 5 pence each in Diurnal Group plc | |||
Identification code | GB00BDB6Q760 | ||||
b)
| Nature of the transaction
| Acquisition of ordinary shares
| |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil | 12,939 |
| |||
d)
| Aggregated information | ||||
- Aggregated volume | As above | ||||
- Price | |||||
e)
| Date of the transaction
| 21 October 2019 | |||
f)
| Place of the transaction
| XLON | |||
For further information, please visit www.diurnal.co.uk or contact: | |
Diurnal Group plc | +44 (0)20 3727 1000 |
Martin Whitaker, Chief Executive Officer | |
Richard Bungay, Chief Financial Officer | |
Panmure Gordon (UK) Limited (Nominated Adviser and Joint Broker) | +44 (0) 20 7886 2500 |
Corporate Finance: Freddy Crossley, Emma Earl | |
Corporate Broking: James Stearns | |
Cantor Fitzgerald Europe (Joint Broker) | +44 (0)20 7894 7000 |
Corporate Finance: Phil Davies, Will Goode, Michael Boot | |
Healthcare Equity Sales: Andrew Keith | |
FTI Consulting (Media and Investor Relations) | +44 (0)20 3727 1000 |
Simon Conway | |
Victoria Foster Mitchell | |
Notes to Editors
About Diurnal Group plc
Founded in 2004, Diurnal is a UK-based specialty pharma company developing high quality products for the global market for the life-long treatment of chronic endocrine conditions, including Congenital Adrenal Hyperplasia and Adrenal Insufficiency. Its expertise and innovative research activities focus on circadian-based endocrinology to yield novel product candidates in the rare and chronic endocrine disease arena.
For further information about Diurnal, please visit www.diurnal.co.uk
Related Shares:
DNL.L