13 Jul 2020 13:29
13 July 2020
Diurnal Group plc
("Diurnal" or the "Company")
Director Dealings and Issue of Equity
Diurnal Group plc (AIM: DNL), the specialty pharmaceutical company targeting patient needs in chronic endocrine (hormonal) diseases, announces the issue and allotment of 371,817 ordinary shares of £0.05 under the Diurnal Group plc Long Term Incentive Plan (the "Plan" and the "Plan Shares"), including 259,765 new Plan Shares to persons discharging managerial responsibilities ("PDMR") and 11,514 new ordinary shares of £0.05 to John Goddard, Non-Executive Director of the Company, as part of a pre-existing arrangement whereby he receives shares in the Company in lieu of part of his Non-executive director fees ("Fee Shares"). The Plan Shares and the Fee Shares are together the "New Ordinary Shares".
PDMR | Total number of New Ordinary Shares issued | Nature of issuance |
Martin Whitaker | 143,443 | Vesting of deferred bonus award |
Richard Bungay | 86,066 | Vesting of deferred bonus award |
Richard Ross | 30,256 | Vesting of deferred bonus award |
John Goddard | 11,514 | Shares in lieu of fees |
The New Ordinary Shares were issued under the Company's Employee Benefit Trust scheme.
Richard Bungay has informed the Company that he intends to sell sufficient shares to pay his personal tax liability arising from the vesting of his deferred bonus award once the New Ordinary Shares have been admitted for trading on AIM and will retain the balance of shares. This transaction will be subject to a further RNS announcement in due course.
Following the issue of shares, the total beneficial interest of Martin Whitaker and his connected parties is 582,580 Ordinary Shares, representing 0.48% of the total voting rights, the total beneficial interest of Richard Bungay (prior to the expected disposal referred to above) is 148,982 Ordinary Shares, representing 0.12% of the total voting rights, and the total beneficial interest of Richard Ross and his connected parties is 2,212,676 Ordinary Shares, representing 1.81% of the total voting rights and the total beneficial interest of John Goddard is 200,103 Ordinary Shares, representing 0.16% of the total voting rights.
Application has been made for admission of the 383,331 New Ordinary Shares to trading on AIM, which is anticipated to occur at 8:00am on Wednesday 15 July 2020 ("Admission"). The New Ordinary Shares will rank pari passu with the existing shares of common stock of the Company. Following Admission, the Company's issued ordinary share capital will consist of 122,016,718 ordinary shares. The Company does not hold any shares in treasury. Therefore, the total number of ordinary shares with voting rights in Diurnal following Admission will be 122,016,718.
The above figure of 122,016,718 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.
Details of the full notifications received by the Company are set out below:
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Martin Whitaker | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Executive Officer | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Diurnal Group plc | |||
b)
| LEI
| 213800I2HNUNZN1LDH29 | |||
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 5 pence each in Diurnal Group plc | |||
Identification code | GB00BDB6Q760 | ||||
b)
| Nature of the transaction
| Acquisition of ordinary shares
| |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil | 143,443 |
| |||
d)
| Aggregated information | ||||
- Aggregated volume | As above | ||||
- Price | |||||
e)
| Date of the transaction
| 10 July 2020 | |||
f)
| Place of the transaction
| XLON | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Richard Bungay | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Financial Officer | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Diurnal Group plc | |||
b)
| LEI
| 213800I2HNUNZN1LDH29 | |||
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 5 pence each in Diurnal Group plc | |||
Identification code | GB00BDB6Q760 | ||||
b)
| Nature of the transaction
| Acquisition of ordinary shares
| |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil | 86,066 |
| |||
d)
| Aggregated information | ||||
- Aggregated volume | As above | ||||
- Price | |||||
e)
| Date of the transaction
| 10 July 2020 | |||
f)
| Place of the transaction
| XLON | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Richard Ross | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Scientific Officer | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Diurnal Group plc | |||
b)
| LEI
| 213800I2HNUNZN1LDH29 | |||
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 5 pence each in Diurnal Group plc | |||
Identification code | GB00BDB6Q760 | ||||
b)
| Nature of the transaction
| Acquisition of ordinary shares
| |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil | 30,256 |
| |||
d)
| Aggregated information | ||||
- Aggregated volume | As above | ||||
- Price | |||||
e)
| Date of the transaction
| 10 July 2020 | |||
f)
| Place of the transaction
| XLON | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| John Goddard | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Non-executive Director | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Diurnal Group plc | |||
b)
| LEI
| 213800I2HNUNZN1LDH29 | |||
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 5 pence each in Diurnal Group plc | |||
Identification code | GB00BDB6Q760 | ||||
b)
| Nature of the transaction
| Acquisition of ordinary shares
| |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil | 11,514 |
| |||
d)
| Aggregated information | ||||
- Aggregated volume | As above | ||||
- Price | |||||
e)
| Date of the transaction
| 10 July 2020 | |||
f)
| Place of the transaction
| XLON | |||
For further information, please visit www.diurnal.co.uk or contact: | |
Diurnal Group plc | +44 (0)20 3727 1000 |
Martin Whitaker, Chief Executive Officer | |
Richard Bungay, Chief Financial Officer | |
Panmure Gordon (UK) Limited (Nominated Adviser and Sole Broker) | +44 (0) 20 7886 2500 |
Corporate Finance: Freddy Crossley, Emma Earl | |
Corporate Broking: James Stearns | |
FTI Consulting (Media and Investor Relations) | +44 (0)20 3727 1000 |
Simon Conway | |
Victoria Foster Mitchell | |
Notes to Editors
About Diurnal Group plc
Founded in 2004, Diurnal is a UK headquartered, European-based specialty pharma company developing pharmaceutical products for the global market for the life-long treatment of chronic endocrine conditions, including Congenital Adrenal Hyperplasia and Adrenal Insufficiency. Its expertise and innovative research activities focus on circadian-based endocrinology to yield novel product candidates in the rare and chronic endocrine disease arena.
For further information about Diurnal, please visit www.diurnal.co.uk