1 Dec 2017 07:00
1 December 2017
AIM: AMYT
ESM: 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 2,885,582 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 20.12p ("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 | 2,061,130 | 2,061,130 |
Rory Nealon | 824,452 | 824,452 |
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 pptions under the Employee Share Option Plan 2016 with an exercise price of 20.12p to purchase 2,061,130 ordinary shares. | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
N/A | 2,061,130 | ||||
e) | Aggregated information · Aggregated volume · Aggregated price |
2,061,130 N/A | |||
f) | Date of the transaction | 29 November 2017 | |||
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 20.12p to purchase 824,452 ordinary shares. | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
N/A | 824,452 | ||||
e) | Aggregated information · Aggregated volume · Aggregated price |
824,452 N/A | |||
f) | Date of the transaction | 29 November 2017 | |||
g) | Place of the transaction | Outside a trading venue | |||
Enquiries:
Amryt Pharma plc | C/o KTZ Communications (details below) |
Joe Wiley, CEO Rory Nealon, CFO/COO |
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Shore Capital | +44 (0) 20 7408 4090 |
Nomad and Joint Broker |
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Edward Mansfield, Mark Percy
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Davy | +353 (1) 679 6363 |
ESM Adviser and Joint Broker |
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John Frain, Anthony Farrell
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Stifel | +44 (0) 20 7710 7600 |
Joint Broker |
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Jonathan Senior, Ben Maddison
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KTZ Communications | +44 (0) 20 3178 6378 |
Katie Tzouliadis, Irene Bermont-Penn, Emma Pearson |
About Amryt Pharma plc
(www.amrytpharma.com)
Amryt Pharma is a specialty biopharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare or orphan diseases. The Company is building a diversified portfolio of commercially attractive, best-in-class, proprietary new drugs to help address some of these rare and debilitating illnesses for which there are currently no available treatments.
The Company holds an exclusive licence to sell Lojuxta (lomitapide) for adults, across the European Economic Area, Middle East and North Africa, Turkey and Israel. Lojuxta is used to treat a rare life-threatening disease called Homozygous Familial Hypercholesterolemia, which impairs the body's ability to remove LDL cholesterol ("bad" cholesterol) from the blood. This typically results in extremely high blood LDL cholesterol levels, leading to aggressive and premature narrowing and blocking of arterial blood vessels. If left untreated, heart attack or sudden death may occur in childhood or early adulthood.
Amryt's lead drug candidate, AP101, is a potential treatment for Epidermolysis bullosa ("EB"), a rare and distressing genetic skin disorder affecting young children for which there is currently no treatment. It is currently in Phase 3 clinical trials. The global market opportunity for EB is estimated to be in excess of EUR 1.3 billion.
Amryt's earlier stage product AP102 is focused on developing novel, next generation somatostatin analogue ("SSA") peptide medicines for patients with rare neuroendocrine diseases, where there is a high unmet medical need, including acromegaly and Cushing's disease.
The Company joined AIM and Dublin's ESM in April 2016 following the reverse takeover of Fastnet Equity PLC.