22 May 2019 18:24
22 May 2019
AIM: AMYT
Euronext Growth: AYP
Amryt Pharma plc
("Amryt" or the "Company")
Grant of Options and Notification of Transactions by Persons Discharging Managerial Responsibilities
Amryt announces that the Remuneration Committee has approved the grant of 3,407,734 share options ("Options") to subscribe for ordinary shares of 1p each in the Company ("Shares") under the Employee Share Option Plan 2016 (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 12.64p ("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 Directors have the following options:
Director | Options granted | Total Options now held |
Joe Wiley | 1,896,239 | 3,957,369 |
Rory Nealon | 1,511,495 | 2,335,947 |
PDMR Dealings
The notification of dealing forms for each Director 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 | 213800BOS8WAJO2BEQ38 | |||
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 £0.01 each
| |||
| Identification code | ISIN: GB00BDD1LS57 | |||
b) | Nature of the transaction | Grant of options under the Employee Share Option Plan 2016 with an exercise price of 12.64p to purchase 1,896,239 ordinary shares. | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) |
| Price(s) | Volume(s) |
|
| N/A | 1,896,239 |
| ||
e) | Aggregated information · Aggregated volume · Aggregated price |
1,896,239 N/A | |||
f) | Date of the transaction | 21 May 2019 | |||
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 | 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 | 213800BOS8WAJO2BEQ38 | |||
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 £0.01 each
| |||
| Identification code | ISIN: GB00BDD1LS57 | |||
b) | Nature of the transaction | Grant of options under the Employee Share Option Plan 2016 with an exercise price of 12.64p to purchase 1,511,495 ordinary shares. | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) |
| Price(s) | Volume(s) |
|
| N/A | 1,511,495 |
| ||
e) | Aggregated information ·Aggregated volume ·Aggregated price |
1,511,495 N/A | |||
f) | Date of the transaction | 21 May 2019 | |||
g) | Place of the transaction | Outside a trading venue | |||
Enquiries:
Amryt Pharma plc | +353 (1) 518 0200 |
Joe Wiley, CEO Rory Nealon, CFO/COO |
|
Shore Capital | +44 (0) 20 7408 4090 |
Financial Advisor, NOMAD and Joint Broker |
|
Edward Mansfield, Mark Percy, Daniel Bush
|
|
Stifel | +44 (0) 20 7710 7600 |
Joint Broker |
|
Jonathan Senior, Ben Maddison |
|
Davy | +353 (1) 679 6363 |
Euronext Growth Advisor and Joint Broker |
|
John Frain, Daragh O'Reilly
|
|
Consilium Strategic Communications | +44 (0) 20 3709 5700 |
Amber Fennell, Matthew Neal, David Daley |
|
About Amryt
Amryt is a biopharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare or orphan diseases.
Lojuxta® is an approved treatment for adult patients with the rare cholesterol disorder - Homozygous Familial Hypercholesterolaemia ("HoFH"). This disorder impairs the body's ability to remove low density lipoprotein ("LDL") cholesterol ("bad" cholesterol) from the blood, typically leading to abnormally high blood LDL cholesterol levels in the body from before birth - often ten times more than people without HoFH - and subsequent aggressive and premature narrowing and blocking of blood vessels. Lojuxta® is indicated as an adjunct to a low-fat diet and other lipid-lowering medicinal products with or without LDL apheresis in adult patients with HoFH.
Amryt is the marketing authorisation holder and has an exclusive licence to sell Lojuxta® (lomitapide) across the European Economic Area, Middle East and North Africa, Switzerland, Turkey, Israel, Russia, the Commonwealth of Independent States and the non-EU Balkan states.
Amryt's lead development candidate, AP101, is a potential treatment for Epidermolysis Bullosa ("EB"), a rare and distressing genetic skin disorder affecting young children and adults for which there is currently no treatment. It is currently in Phase 3 clinical trials and recently reported positive unblinded interim efficacy analysis results and is anticipated will be fully enrolled by end of H2 2019. The European and US market opportunity for EB is estimated to be in excess of $1 billion.
In March 2018, Amryt in-licenced a pre-clinical gene-therapy platform technology, AP103, which offers a potential treatment for patients with Recessive Dystrophic Epidermolysis Bullosa, a subset of EB, and is also potentially relevant to other genetic disorders.
In May 2019, Amryt announced the planned acquisition of Aegerion Pharmaceuticals. This Transaction will put Amryt on the path to creating a rare and orphan disease company with a diversified offering of multiple commercial and development stage assets and will provide it with scale to support further growth. The Transaction will give Amryt an expanded commercial footprint to market two US and EU approved products, lomitapide (Juxtapid® (US/ROW) / Lojuxta® (EU)) and metreleptin (Myalept® (US) / Myalepta® (EU)). Amryt's leadership team already has a deep knowledge of both these products and since December 2016 has successfully commercialized Lojuxta® across Europe and the Middle East.
For more information on Amryt, please visit www.amrytpharma.com.