ARMS.L Regulatory News (ARMS)

31 December 2013

For Immediate Release

Notification of Transactions by

Persons Discharging Managerial Responsibilities

Pursuant to the notification obligations under Disclosure and Transparency Rule 3.1.4, the Company granted an award (the "2013 Award") in accordance with the rules of its Incentive Plan ("Plan") over 280,042 ordinary shares of 1p nominal value to Nick Von Schirnding, Chief Executive Officer of the Company, on 30 December 2013.

The number of Shares comprised in the award has been calculated by reference to the average closing price of an ordinary share over the three dealing days prior to the date of grant and following the end of the prohibited period.

The 2013 Award was made in the form of a nil-cost option, which becomes exercisable on the third anniversary of the grant date, subject to the satisfaction of performance targets described in the Company's Remuneration Report. The nil-cost option is then exercisable until the tenth anniversary of the grant date.

- ENDS-

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