5 Nov 2019 18:16
5 November 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 10,215,400 share options ("Options") to subscribe for ordinary shares of 6p each 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 £1.215p ("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 | 5,777,900 | 6,437,460 |
Rory Nealon | 4,437,500 | 4,826,823 |
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 £1.215 to purchase 5,777,900 ordinary shares. | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
N/A | 5,777,900 | ||||
e) | Aggregated information ·; Aggregated volume ·; Aggregated price |
5,777,900 N/A | |||
f) | Date of the transaction | 5 November 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 | 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 £1.215 to purchase 4,437,500 ordinary shares. | |||
c) | Currency | British Pounds | |||
d) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
N/A | 4,437,500 | ||||
e) | Aggregated information ·;Aggregated volume ·;Aggregated price |
4,437,500 N/A | |||
f) | Date of the transaction | 5 November 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 |
NOMAD and Joint Broker | |
Edward Mansfield, Mark Percy, Daniel Bush, John More
| |
Stifel | +44 (0) 20 7710 7600 |
Joint Broker | |
Jonathan Senior, Ben Maddison | |
Davy | +353 (1) 679 6363 |
ESM Adviser and Joint Broker | |
John Frain, Daragh O'Reilly
| |
Consilium Strategic Communications | +44 (0) 20 3709 5700 |
Amber Fennell, Matthew Neal, Nicholas Brown
| |
LifeSci Advisors, LLC | +1 (212) 915 2564 |
Tim McCarthy |
About Amryt
Amryt is a biopharmaceutical company focused on developing and delivering innovative new 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.
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 (under the trade name, Lojuxta®). HoFH is a rare genetic disorder which 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 cardiovascular disease.
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®) 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 or over for whom standard treatments have failed to achieve adequate metabolic control. Metreleptin is also approved for lipodystrophy in Japan. Generalised and partial lipodystrophy are rare disorders characterised by loss or lack of adipose tissue resulting in the deficiency of the hormone leptin, produced by fat cells and are associated with severe metabolic abnormalities including severe insulin resistance, diabetes, hypertriglyceridemia and fatty liver disease.
Amryt's lead development candidate, AP101 (Oleogel-S10), is a potential treatment for the cutaneous manifestations of Epidermolysis Bullosa ("EB"), a rare and distressing genetic skin disorder affecting young children and adults for which there is currently no approved treatment. It is currently being studied in a Phase 3 clinical trial and recently reported that unblinded interim efficacy data supported continuation of the study with a modest increase in sample size and unblinded interim safety data allowed the inclusion of children from as young as 21 days old. AP101 has been granted FDA Pediatric Rare Disease Designation and has also received a Fast Track Designation from the FDA. The European and US market opportunity for EB is estimated by the Directors 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.
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