8 Nov 2017 12:00
8 November 2017
Diurnal Group plc
("Diurnal" or the "Company")
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations
On 8 November 2017, Diurnal issued a total of 547,575 par value options over ordinary shares of 5 pence in the Company under the Diurnal Group plc Long Term Incentive Plan (the "Plan"), of which the following were issued to persons discharging managerial responsibilities ("PDMR"):
PDMR | Total number of shares awarded | Type of awards |
Martin Whitaker | 148,698 | Performance share award |
Richard Bungay | 94,795 | Performance share award |
The performance share awards will ordinarily vest no earlier than the third anniversary of their grant subject to the grantee's continued service and to the extent to which the performance conditions set for the awards are satisfied. Such awards may potentially vest until the fifth anniversary of their grant date. The awards were granted under award agreements that incorporated the terms of the Plan.
The exercise price payable per share under award is par value presently being 5 pence per ordinary share.
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 | Grant of award of options under the Diurnal Group plc Long Term Incentive Plan over Ordinary shares of 5p each | |||
Identification code | Ordinary shares: GB00BDB6Q760 | ||||
b)
| Nature of the transaction
| Grant of awards under the Diurnal Group plc Long Term Incentive Plan as par value options as follows:
Performance share award over 148,698 ordinary shares.
The performance share award will ordinarily vest no earlier than the third anniversary of its grant subject to continued service and to the extent to which the performance conditions set for the awards are satisfied. Such award may potentially vest until the fifth anniversary of its grant date.
The exercise price payable per share under award is par value presently being 5 pence per ordinary share. | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
5p exercise price | 148,698 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | Award over 148,698 ordinary shares. | ||||
- Price | Nil price payable for grant. £7,434.90 total exercise price | ||||
e)
| Date of the transaction
| 8 November 2017 | |||
f)
| Place of the transaction
| Outside a trading venue | |||
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 | Grant of award of options under the Diurnal Group plc Long Term Incentive Plan over Ordinary shares of 5p each | |||
Identification code | Ordinary shares: GB00BDB6Q760 | ||||
b)
| Nature of the transaction
| Grant of awards under the Diurnal Group plc Long Term Incentive Plan as par value options as follows:
Performance share award over 94,795 ordinary shares.
The performance share award will ordinarily vest no earlier than the third anniversary of its grant subject to continued service and to the extent to which the performance conditions set for the awards are satisfied. Such award may potentially vest until the fifth anniversary of its grant date.
The exercise price payable per share under award is par value presently being 5 pence per ordinary share. | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
5p exercise price | 94,795 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | Award over 94,795 ordinary shares. | ||||
- Price | Nil price payable for grant. £4,739.75 total exercise price | ||||
e)
| Date of the transaction
| 8 November 2017 | |||
f)
| Place of the transaction
| Outside a trading venue | |||
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 | |
Numis Securities Ltd (Nominated Adviser) | +44 (0)20 7260 1000 |
Nominated Adviser: Michael Meade, Paul Gillam, Freddie Barnfield | |
Corporate Broking: James Black | |
Panmure Gordon (UK) Limited (Joint Broker) | +44 (0) 20 7886 2500 |
Corporate Finance: Freddy Crossley / Duncan Monteith | |
Corporate Broking: Tom Salvesen | |
FTI Consulting | +44 (0)20 3727 1000 |
Simon Conway | |
Victoria Foster Mitchell | |
Notes to Editors
About Diurnal Group plc
Founded in 2004, Diurnal is a UK-based specialty pharma company developing high quality 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