8 Mar 2021 18:00
Director/PDMR ShareholdingGrant of Options and Notification of Transactions by Persons Discharging Managerial Responsibilities
DUBLIN, Ireland, and Boston MA, March 8, 2021, Amryt (Nasdaq: AMYT, AIM: AMYT), a global, commercial-stage biopharmaceutical company focussed on acquiring, developing and commercializing novel treatments for rare diseases, today announces that the Remuneration Committee has approved the grant of 3,431,350 share options ("Options") to subscribe for ordinary shares in the Company ("Shares") under the Employee Share Option Plan 2019 (the "Plan") to Joe Wiley, CEO, and Rory Nealon, CFO, details of which are set out in the table below.
The Options have an exercise price of US$2.804 per Share ($14.02 per ADS equivalent) ("Exercise Price"). These options may be exercised as follows:
| ● | 25% of the total Options granted may be exercised 12 months after the date of grant; |
| ● | a further 25% of the total Options granted may be exercised 24 months after the date of grant; and |
| ● | the balance of the Options may be exercised 36 months after the date of grant. |
All Options are subject to change of control provisions and expire on the seventh anniversary of their grant.
Following the grants of these options, the following Director and Company Secretary have the following options:
| Director / Company Secretary | Options granted | Total Options now held |
| Joe Wiley | 2,031,350 | 8,468,810 |
| Rory Nealon | 1,400,000 | 6,226,823 |
PDMR Dealings
The notification of dealing forms for each Director/Company Secretary can be found below. This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.
| 1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Joe Wiley | |||
| 2. | Reason for the notification | ||||
| a) | Position / status | Director | |||
| b) | Initial notification / amendment | Initial notification | |||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Amryt Pharma plc | |||
| b) | Legal entity identifier | 213800YNUJEOJ84L4T95 | |||
| 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 £0.06 each | |||
| Identification code | ISIN: GB00BKLTQ412 | ||||
| b) | Nature of the transaction | Grant of options under the Employee Share Option Plan 2019 with an exercise price of US$2.804 to purchase 2,031,350 ordinary shares. | |||
| c) | Currency | US Dollar | |||
| d) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
| N/A | 2,031,350 | ||||
| e) | Aggregated informationAggregated volumeAggregated price | 2,031,350N/A | |||
| f) | Date of the transaction | 8 March 2021 | |||
| g) | Place of the transaction | Outside a trading venue | |||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Rory Nealon | |||
| 2. | Reason for the notification | ||||
| a) | Position / status | PDMR – CFO and Company Secretary | |||
| b) | Initial notification / amendment | Initial notification | |||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Amryt Pharma plc | |||
| b) | Legal entity identifier | 213800YNUJEOJ84L4T95 | |||
| 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 £0.06 each | |||
| Identification code | ISIN: GB00BKLTQ412 | ||||
| b) | Nature of the transaction | Grant of options under the Employee Share Option Plan 2019 with an exercise price of US$2.804 to purchase 1,400,000 ordinary shares. | |||
| c) | Currency | US Dollar | |||
| d) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
| N/A | 1,400,000 | ||||
| e) | Aggregated informationAggregated volumeAggregated price | 1,400,000 N/A | |||
| f) | Date of the transaction | 8 March 2021 | |||
| g) | Place of the transaction | Outside a trading venue | |||
About AmrytAmryt is a global commercial-stage biopharmaceutical company focused on acquiring, developing and commercializing innovative treatments to help improve the lives of patients with rare and orphan diseases. Amryt comprises a strong and growing portfolio of commercial and development assets.
Amryt’s commercial business comprises two orphan disease products – metreleptin (Myalept®/ Myalepta®) and lomitapide (Juxtapid®/ Lojuxta®).
Myalept® / Myalepta® (metreleptin) is approved in the US (under the trade name Myalept®) as an adjunct to diet as replacement therapy to treat the complications of leptin deficiency in patients with congenital or acquired generalized lipodystrophy (GL) and in the EU (under the trade name Myalepta®) as an adjunct to diet for the treatment of leptin deficiency in patients with congenital or acquired GL in adults and children two years of age and above and familial or acquired partial lipodystrophy (PL) in adults and children 12 years of age and above for whom standard treatments have failed to achieve adequate metabolic control. For additional information, please follow this link.
Juxtapid®/ Lojuxta® (lomitapide) is approved as an adjunct to a low-fat diet and other lipid-lowering medicinal products for adults with the rare cholesterol disorder, Homozygous Familial Hypercholesterolaemia ("HoFH") in the US, Canada, Columbia, Argentina and Japan (under the trade name Juxtapid®) and in the EU, Israel and Brazil (under the trade name Lojuxta®). For additional information, please follow this link.
Amryt's lead development candidate, Filsuvez® (Oleogel-S10) is a potential treatment for the cutaneous manifestations of Junctional and Dystrophic Epidermolysis Bullosa (“EB”), a rare and distressing genetic skin disorder affecting young children and adults for which there is currently no approved treatment. Filsuvez® has been selected as the brand name for Oleogel-S10. The product does not currently have regulatory approval to treat EB.
Amryt’s pre-clinical gene therapy platform, AP103, offers a potential treatment for patients with Dystrophic EB, and is also potentially relevant to other genetic disorders.
For more information on Amryt, including products, please visit www.amrytpharma.com.
This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014. The person making this notification on behalf of Amryt is Rory Nealon, CFO/COO and Company Secretary.
Financial Advisors
Shore Capital (Edward Mansfield, Daniel Bush, John More) are NOMAD and Joint Broker to Amryt in the UK. Stifel (Ben Maddison) are Joint Broker to the company in the UK. Davy (John Frain, Daragh O’Reilly) act as Joint Broker to the company.
Forward-Looking Statements
This press release may contain forward-looking statements containing the words "expect", "anticipate", "intends", "plan", "estimate", "aim", "forecast", "project" and similar expressions (or their negative) identify certain of these forward-looking statements. The forward-looking statements in this announcement are based on numerous assumptions and Amryt's present and future business strategies and the environment in which Amryt expects to operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These statements are not guarantees of future performance or the ability to identify and consummate investments. Many of these risks and uncertainties relate to factors that are beyond each of Amryt's ability to control or estimate precisely, such as future market conditions, the course of the COVID-19 pandemic, currency fluctuations, the behaviour of other market participants, the outcome of clinical trials, the actions of regulators and other factors such as Amryt's ability to obtain financing, changes in the political, social and regulatory framework in which Amryt operates or in economic, technological or consumer trends or conditions. Past performance should not be taken as an indication or guarantee of future results, and no representation or warranty, express or implied, is made regarding future performance. No person is under any obligation to update or keep current the information contained in this announcement or to provide the recipient of it with access to any additional relevant information that may arise in connection with it. Such forward-looking statements reflect the Company’s current beliefs and assumptions and are based on information currently available to management.
Contacts
Joe Wiley, CEO / Rory Nealon, CFO/COO, +353 (1) 518 0200, ir@amrytpharma.com
Edward Mansfield, Shore Capital, NOMAD, +44 (0) 207 468 7906, edward.mansfield@shorecap.co.uk
Tim McCarthy, LifeSci Advisors, LLC, +1 (212) 915 2564, tim@lifesciadvisors.com
Amber Fennell, Consilium Strategic Communications, +44 (0) 203 709 5700, fennell@consilium-comms.com