Last checked at 28 Sep 2018 14:16
28 September 2018 | AIM: RENE |
ReNeuron Group plc
Director/PDMR Interest in Shares and Share Options
ReNeuron Group plc (the "Company") (AIM: RENE), a UK-based global leader in the development of cell-based therapeutics, announces that the following share option grants were today made under the Company's Long Term Incentive Plan (the "Plan"), its US Incentive Stock Option Plan (the "US Plan") and its Non-Executive Share Option Scheme to directors and Persons Discharging Managerial Responsibilities (PDMRs) listed below.
The Plan allows the Company to grant tax-advantaged share options under a Company Share Option Plan (the "CSOP Plan"), as well as non-tax advantaged options. Where capacity exists for a director/PDMR to be issued share options under the CSOP Plan, these options are issued in parallel with non tax-advantaged options. The figures per individual below, where applicable and except where indicated, therefore comprise parallel grants of both CSOP Plan share options and non tax-advantaged share options, the terms of each grant ensuring that the exercise of one type of option reduces the number exercisable under the other type of option on a share for share basis.
The US Plan allows the Company to grant Incentive Stock Options ("ISOs") to employees in the US.
Share options granted under the CSOP Plan are over shares up to an aggregate market value of £30,000 (measured at the date of grant) and with an exercise price of 68 pence per share, being the closing mid-market price of the Company's shares on 27 September 2018. The options granted under the US Plan have an exercise price of 68 pence per share, being the closing sales price of the Company's shares on 27 September 2018. Non tax-advantaged options are granted at nominal value.
Share options granted under the Plan and the US Plan (unless otherwise stated) are exercisable from the third anniversary of the award and are subject to the achievement of the following performance conditions:
1) When the Company signs an out-licensing deal (or deals) for any of its technologies or programmes which provides sufficient funding to allow the achievement of clinical proof of concept data for the CTX and hRPC products, one third of the options will vest.
2) When the sixth clinical trial of a ReNeuron cell therapy completes, one third of the options will vest.
3) If the Total Shareholder Return (TSR) of the Company meets or exceeds that of the FTSE AIM Healthcare Index in any given three year period from the date of grant, one third of the options will vest.
The Non-Executive Directors of the Company are remunerated partly in cash and partly in the form of share options granted under the Non-Executive Share Option Scheme. In order to remove as far as possible any incentive element that might influence the Non-Executive Directors' independence, share options are granted at nominal value without performance conditions attaching and vest over three years on a straight line basis.
Share option grants are deemed accepted by the option holder unless expressly rejected within a period of 30 days from the date of grant.
Name | Title | Date of grant of share options | Number of share options granted
| Total shares over which options are held | Percentage of issued shares under option |
Richard Beckman(i) | Chief Medical Officer | 28 Sept 18 | 153,582 | 153,582 | 0.49% |
John Berriman | Non-executive Chairman | 28 Sept 18 | 17,700 | 48,252 | 0.15% |
Simon Cartmell | Non-executive Director | 28 Sept 18 | 17,700 | 48,252 | 0.15% |
Tim Corn | Non-executive Director | 28 Sept 18 | 17,700 | 41,452 | 0.13% |
Randolph Corteling | Head of Research | 28 Sept 18 | 27,463 | 153,501 | 0.49% |
Claudia D'Augusta | Non-executive Director | 28 Sept 18 | 17,700 | 22,700 | 0.07% |
Chris Evans | Non-executive Director | 28 Sept 18 | 17,700 | 35,700 | 0.11% |
Sharon Grimster | VP Development & General Manager - Wales | 28 Sept 18 | 52,239 | 248,821 | 0.79% |
John Hawkins (Ii) | Financial Controller | 28 Sept 18 | 4,000 | 20,000 | 0.06% |
Olav Hellebo | Chief Executive Officer | 28 Sept 18 | 155,738 | 805,860 | 2.55% |
Michael Hunt | Chief Financial Officer | 28 Sept 18 | 77,451 | 452,217 | 1.43% |
Mike Owen | Non-executive Director | 28 Sept 18 | 17,700 | 25,700 | 0.08% |
John Sinden | Chief Scientific Officer | 28 Sept 18 | 27,164 | 243,155 | 0.77% |
Shaun Stapleton | Head of Regulatory Affairs | 28 Sept 18 | 43,284 | 217,897 | 0.69% |
(i) The grant to Dr Beckman is made under the US Plan and is exercisable subject to achievement of performance conditions (1) and (2) above, with 50% of the options becoming exercisable in each case. The options vest from the second anniversary onwards, subject to an annual $100,000 limit based on the fair value of shares subject to the grant measured on the date of grant.
(ii) The grant to Mr Hawkins is made under The Plan and is exercisable subject to achievement of performance conditions (1) and (2) above, with 50% of the options becoming exercisable in each case.
The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation and provide further detail.
ENDS
ENQUIRIES:
ReNeuron | +44 (0)20 3819 8400 |
Olav Hellebø , Chief Executive Officer |
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Michael Hunt, Chief Financial Officer
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Buchanan | +44 (0) 20 7466 5000 |
Mark Court, Sophie Cowles, Tilly Abraham
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Stifel Nicolaus Europe Limited | +44 (0) 20 7710 7600 |
Jonathan Senior, Stewart Wallace, Ben Maddison (NOMAD and Joint Broker)
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Nplus1 Singer Advisory LLP | +44 (0) 20 7496 3000 |
Mark Taylor (Joint Broker) |
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About ReNeuron
ReNeuron is a leading, clinical-stage cell therapy development company. Based in the UK, its primary objective is the development of novel cell-based therapies targeting areas of significant unmet or poorly met medical need.
ReNeuron has used its unique stem cell technologies to develop cell-based therapies for significant disease conditions where the cells can be readily administered "off-the-shelf" to any eligible patient without the need for additional immunosuppressive drug treatments. The Company has therapeutic candidates in clinical development for disability as a result of stroke and for the blindness-causing disease, retinitis pigmentosa.
ReNeuron is also advancing its proprietary exosome technology platform as a potential new nanomedicine targeting cancer and as a potential delivery system for drugs that would otherwise be unable to reach their site of action.
ReNeuron's shares are traded on the London AIM market under the symbol RENE.L. Further information on ReNeuron and its products can be found at www.reneuron.com.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
(Disclosure in relation to share options granted to Directors and PDMRs)
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | John Berriman | ||||
2 | Reason for the notification | |||||
a) | Position/status | Non-Executive Chairman | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | ReNeuron Group plc | ||||
b) | LEI | 2138003TU12CQ5TZO137 | ||||
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 Identification code | Ordinary Shares 1p RENE - GB00BF5G6K95 | ||||
b) | Nature of the transaction | Grant of share options | ||||
c) | Price(s) and volume(s)
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d)
| Aggregated information | N/A | ||||
e) | Date of the transaction | Granted 28 September 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Richard Beckman | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Medical Officer | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | ReNeuron Group plc | ||||
b) | LEI | 2138003TU12CQ5TZO137 | ||||
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 Identification code | Ordinary Shares 1p RENE - GB00BF5G6K95 | ||||
b) | Nature of the transaction | Grant of share options | ||||
c) | Price(s) and volume(s)
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d)
| Aggregated information | N/A | ||||
e) | Date of the transaction | Granted 28 September 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Simon Cartmell | ||||
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 | ReNeuron Group plc | ||||
b) | LEI | 2138003TU12CQ5TZO137 | ||||
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 Identification code | Ordinary Shares 1p RENE - GB00BF5G6K95 | ||||
b) | Nature of the transaction | Grant of share options | ||||
c) | Price(s) and volume(s)
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d)
| Aggregated information | N/A | ||||
e) | Date of the transaction | Granted 28 September 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Tim Corn | ||||
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 | ReNeuron Group plc | ||||
b) | LEI | 2138003TU12CQ5TZO137 | ||||
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 Identification code | Ordinary Shares 1p RENE - GB00BF5G6K95 | ||||
b) | Nature of the transaction | Grant of share options | ||||
c) | Price(s) and volume(s)
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d)
| Aggregated information | N/A | ||||
e) | Date of the transaction | Granted 28 September 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Randolph Corteling | ||||
2 | Reason for the notification | |||||
a) | Position/status | Head of Research | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | ReNeuron Group plc | ||||
b) | LEI | 2138003TU12CQ5TZO137 | ||||
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 Identification code | Ordinary Shares 1p RENE - GB00BF5G6K95 | ||||
b) | Nature of the transaction | Grant of share options | ||||
c) | Price(s) and volume(s)
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d)
| Aggregated information | N/A | ||||
e) | Date of the transaction | Granted 28 September 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Claudia D'Augusta | ||||
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 | ReNeuron Group plc | ||||
b) | LEI | 2138003TU12CQ5TZO137 | ||||
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 Identification code | Ordinary Shares 1p RENE - GB00BF5G6K95 | ||||
b) | Nature of the transaction | Grant of share options | ||||
c) | Price(s) and volume(s)
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d)
| Aggregated information | N/A | ||||
e) | Date of the transaction | Granted 28 September 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Chris Evans | ||||
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 | ReNeuron Group plc | ||||
b) | LEI | 2138003TU12CQ5TZO137 | ||||
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 Identification code | Ordinary Shares 1p RENE - GB00BF5G6K95 | ||||
b) | Nature of the transaction | Grant of share options | ||||
c) | Price(s) and volume(s)
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d)
| Aggregated information | N/A | ||||
e) | Date of the transaction | Granted 28 September 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Sharon Grimster | ||||
2 | Reason for the notification | |||||
a) | Position/status | VP Development & General Manager - Wales | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | ReNeuron Group plc | ||||
b) | LEI | 2138003TU12CQ5TZO137 | ||||
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 Identification code | Ordinary Shares 1p RENE - GB00BF5G6K95 | ||||
b) | Nature of the transaction | Grant of share options | ||||
| Price(s) and volume(s)
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d)
| Aggregated information | N/A | ||||
e) | Date of the transaction | Granted 28 September 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | John Hawkins | ||||
2 | Reason for the notification | |||||
a) | Position/status | Financial Controller | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | ReNeuron Group plc | ||||
b) | LEI | 2138003TU12CQ5TZO137 | ||||
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 Identification code | Ordinary Shares 1p RENE - GB00BF5G6K95 | ||||
b) | Nature of the transaction | Grant of share options | ||||
c) | Price(s) and volume(s)
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d)
| Aggregated information | N/A | ||||
e) | Date of the transaction | Granted 28 September 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Olav Hellebo | ||||
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 | ReNeuron Group plc | ||||
b) | LEI | 2138003TU12CQ5TZO137 | ||||
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 Identification code | Ordinary Shares 1p RENE - GB00BF5G6K95 | ||||
b) | Nature of the transaction | Grant of share options | ||||
c) | Price(s) and volume(s)
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d)
| Aggregated information | N/A | ||||
e) | Date of the transaction | Granted 28 September 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Michael Hunt | ||||
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 | ReNeuron Group plc | ||||
b) | LEI | 2138003TU12CQ5TZO137 | ||||
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 Identification code | Ordinary Shares 1p RENE - GB00BF5G6K95 | ||||
b) | Nature of the transaction | Grant of share options | ||||
c) | Price(s) and volume(s)
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d)
| Aggregated information | N/A | ||||
e) | Date of the transaction | Granted 28 September 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Mike Owen | ||||
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 | ReNeuron Group plc | ||||
b) | LEI | 2138003TU12CQ5TZO137 | ||||
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 Identification code | Ordinary Shares 1p RENE - GB00BF5G6K95 | ||||
b) | Nature of the transaction | Grant of share options | ||||
c) | Price(s) and volume(s)
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d)
| Aggregated information | N/A | ||||
e) | Date of the transaction | Granted 28 September 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | John Sinden | ||||
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 | ReNeuron Group plc | ||||
b) | LEI | 2138003TU12CQ5TZO137 | ||||
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 Identification code | Ordinary Shares 1p RENE - GB00BF5G6K95 | ||||
b) | Nature of the transaction | Grant of share options | ||||
c) | Price(s) and volume(s)
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d)
| Aggregated information | N/A | ||||
e) | Date of the transaction | Granted 28 September 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Shaun Stapleton | ||||
2 | Reason for the notification | |||||
a) | Position/status | Head of Regulatory Affairs | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | ReNeuron Group plc | ||||
b) | LEI | 2138003TU12CQ5TZO137 | ||||
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 Identification code | Ordinary Shares 1p RENE - GB00BF5G6K95 | ||||
b) | Nature of the transaction | Grant of share options | ||||
c) | Price(s) and volume(s)
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d)
| Aggregated information | N/A | ||||
e) | Date of the transaction | Granted 28 September 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||