Last checked at 2 Oct 2015 15:01
2 October 2015 | AIM: RENE |
ReNeuron Group plc
("ReNeuron" or "the Company")
Directors' Interest in Shares and Share Options
Guildford, UK, 2 October 2015: ReNeuron Group plc (AIM: RENE), a leading UK-based stem cell therapy company, today announces that on 1 October 2015, the following awards were made under the Company's share-based Long Term Incentive Plan (LTIP):
LTIP: number of shares awarded | Total shares over which options are held | Percentage of issued shares under option | |
Olav Hellebø | 18,123,636 | 33,679,192 | 1.07% |
Michael Hunt | 7,090,909 | 29,611,692 | 0.94% |
The LTIP awards are share options granted at nominal value and are subject to a three-year holding period, exercisable from the third anniversary of the award. The options are exercisable subject to the achievement of the following performance conditions:
1) When the first patient is administered with a ReNeuron cell therapy in a sixth clinical trial, one third of the options will vest.
2) When the fourth 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 vesting criteria for the TSR-related performance condition above will also apply on a proportionate basis to TSR-related performance conditions attaching to prior share option grants under the LTIP.
Enquiries:
ReNeuron | +44 (0) 20 3819 8400 |
Olav Hellebø , Chief Executive Officer | |
Michael Hunt, Chief Financial Officer | |
Buchanan |
+44 (0) 20 7466 5000 |
Mark Court, Sophie Cowles, Stephanie Watson | |
Cenkos Securities | +44 (0) 20 7397 8900 |
Dr Christopher Golden, Stephen Keys (NOMAD and Broker) | |
Russell Kerr (Sales) |
About ReNeuron
ReNeuron is a leading, clinical-stage cell therapy development business. 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's therapeutic candidates for stroke disability and critical limb ischaemia are in clinical development and its cell-based treatment for the blindness-causing disease, retinitis pigmentosa, is about to enter the clinic in the US.
ReNeuron is also advancing a proprietary platform technology to exploit nanoparticles (exosomes) secreted by stem cells as potential new drug candidates targeting a range of cancers.
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.