23rd Apr 2025 07:00
Arecor Therapeutics plc
("Arecor" or "the Company")
Grant of Options and PDMR Dealing
Cambridge, UK, 23 April 2025: Arecor Therapeutics plc (AIM: AREC), the biopharmaceutical group advancing today's therapies to enable healthier lives, announces that on 22 April 2025, the Company granted a total of 190,000 options under the Company's Long Term Incentive Plan ("LTIP Options") and 40,000 options under the Company's All Employee Share Ownership Plan ("AESOP Options"), over new ordinary shares of 1 pence each in the Company ("Ordinary Shares") to David Ellam, Chief Financial Officer, a person discharging managerial responsibilities ("PDMR") of the Company.
The LTIP Options have an exercise price of 1 pence. Performance conditions include both time (30% of the options granted) and Share Price Outperformance* (70% of the options granted) during the three-year performance period. The LTIP Options are subject to continued service and the extent to which the performance conditions are satisfied. Vested LTIP Options will normally be exercisable until the tenth anniversary of the grant date, after which time they will lapse. They are subject to a condition that the LTIP Options or the Ordinary Shares acquired on exercise of the LTIP Options (other than those sold to cover tax and National Insurance) are held for a minimum one-year period from vesting.
The AESOP Options vest after 36 months and are exercisable at £0.38 per share, being the closing market price of an Ordinary Share on the day preceding the date of grant. The AESOP Options are subject to continuous employment and are exercisable until the tenth anniversary of the date of grant, after which date the option will lapse.
*Outperformance when compared to the FTSE AIM All Share index
The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.
-ENDS-
For more information, please contact:
Arecor Therapeutics plc | www.arecor.com |
Dr Sarah Howell, Chief Executive Officer | Tel: +44 (0) 1223 426060 Email: info@arecor.com |
David Ellam, Chief Financial Officer | Tel: +44 (0) 1223 426060 Email: info@arecor.com |
Singer Capital Markets Advisory LLP (NOMAD and Broker) | |
Phil Davies, Sam Butcher | Tel: +44 (0) 20 7496 3000 |
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ICR Healthcare | |
Chris Gardner, David Daley, Lindsey Neville | Tel: +44 (0) 20 3709 5700 Email: arecor@icrhealthcare.com |
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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 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 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: | David Ellam | ||||||||||
2. | Reason for the notification | |||||||||||
a) | Position/status: | PDMR (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: | 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
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b) | Nature of the transaction: | Grant of options over ordinary shares | ||||||||||
c) | Price(s) and volume(s): |
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d) | Aggregated information: · Aggregated volume: · Price: |
230,000 N/A | ||||||||||
e) | Date of the transaction: | 22 April 2025 | ||||||||||
f) | Place of the transaction: | Outside of a trading venue | ||||||||||
Related Shares:
Arecor Therape