Last checked at 12 Sep 2017 07:00
12 September 2017 | AIM: RENE |
ReNeuron Group plc
Directors' 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, today announces that on 11 September 2017, the following awards were made under the Company's share-based incentive plans:
1. Long Term Incentive Plan (LTIP)
Number of LTIP share options granted | ||||
Olav Hellebø | 9,766,667 | |||
Michael Hunt | 6,800,000 | |||
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 an eighth clinical trial, 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.
After the above share option grants, the executive directors of the Company have the following share option holdings:
Total shares over which options are held | Percentage of issued shares under option | ||
Olav Hellebø | 65,012,526 | 2.05% | |
Michael Hunt | 37,476,902 | 1.18% |
2. Non-Executive Share Option Scheme
Number of shares awarded | Total shares over which options are held | ||
John Berriman | 500,000 | 3,055,322 | |
Simon Cartmell | 500,000 | 3,055,322 | |
Tim Corn | 500,000 | 2,375,249 |
Claudia D'Augusta 500,000 500,000
Chris Evans 500,000 1,800,000
Mike Owen 500,000 800,000
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 under the Non-Executive Share Option Scheme at nominal value without performance conditions attaching and vest over three years on a straight line basis.
ENDS
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 | |
Stifel Nicolaus Europe Limited | +44 (0) 20 7710 7600 |
Jonathan Senior, Stewart Wallace, Ben Maddison (NOMAD and Joint Broker) | |
Nplus1 Singer Advisory LLP | +44 (0) 20 7496 3000 |
Mark Taylor (Joint Broker) |
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, for critical limb ischaemia 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 lack adequate capacity to penetrate to 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.