Last checked at 19 Apr 2021 07:00
Renalytix AI plc
Director/PDMR Shareholding
New York, 19 April 2021 - Renalytix AI plc (LSE: RENX) (NASDAQ: RNLX) ("RenalytixAI" or the "Company"), an artificial intelligence-enabled in vitro diagnostics company, focused on optimizing clinical management of kidney disease to drive improved patient outcomes and advance value-based care, today announces that it has been advised of the transfer by James McCullough, the Company's Chief Executive Officer, of certain of the ordinary shares of £0.0025 each in the capital of the Company ("Ordinary Shares") owned by him to a new family trust, The McCullough 2020 Irrevocable Trust (the "Trust").
The transaction involves the gift of 255,440 Ordinary Shares to James McCullough and Michele Wiles as investment trustees of the Trust and the sale of 2,298,958 Ordinary Shares to James McCullough and Michele Wiles as investment trustees of the Trust.
Following completion of this transfer, James McCullough remains interested in 2,870,110 Ordinary Shares representing 3.98% of the current issued share capital. 2,554,398 are held via the Trust with the balance of 315,712 being held in James McCullough's name.
The information contained in this notification is disclosed in accordance with the requirements of the EU Market Abuse Regulation as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018. The notification form is set out below.
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | James McCullough | |
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 | Renalytix AI plc | |
b) | Legal Entity Identifier | 213800NTOH3FK3WER551 | |
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 of £0.0025 each
ISIN Code: GB00BYWL4Y04 | |
b) | Nature of the transaction | Gift of shares to a trust for nil consideration Sale of shares to a trust
| |
c) | Currency | N/A | |
d) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 255,440 Ordinary Shares | ||
US$6.68 | 2,298,958 Ordinary Shares | ||
e) | Aggregated information - Aggregated volume - Price - Aggregated total
- Aggregated volume - Price - Aggregated total |
255,440 Nil Nil
2,298,958 $6.68 US$15,357,039.44
| |
f) | Date of the transaction | 18 April 2021 | |
g) | Place of the transaction | Outside a trading venue | |
For further information, please contact:
Renalytix AI plc | www.renalytixai.com | |
James McCullough, CEO | Via Walbrook PR | |
Stifel (Nominated Adviser, Joint Broker ) | Tel: 020 7710 7600 | |
Alex Price / Nicholas Moore | ||
Investec Bank plc (Joint Broker) | Tel: 020 7597 4000 | |
Gary Clarence / Daniel Adams | ||
Walbrook PR Limited | Tel: 020 7933 8780 or renalytix@walbrookpr.com | |
Paul McManus / Lianne Cawthorne | Mob: 07980 541 893 / 07584 391 303 | |
About Kidney Disease
Kidney disease is now recognized as a public health epidemic affecting over 850 million people globally. The Centers for Disease Control and Prevention (CDC) estimates that 15% of US adults, or 37 million people, currently have chronic kidney disease (CKD). Further, the CDC reports that 9 out of 10 adults with CKD do not know they have it and 1 out of 2 people with very low kidney function who are not on dialysis do not know they have CKD*. Kidney disease is referred to as a "silent killer" because it often has no symptoms and can go undetected until a very advanced stage. Each year kidney disease kills more people than breast and prostate cancer. Every day, 13 patients in the United States die while waiting for a kidney transplant.
* https://www.cdc.gov/kidneydisease/publications-resources/2019-national-facts.html
About RenalytixAI
RenalytixAI is a developer of artificial intelligence-enabled clinical in vitro diagnostic solutions for kidney disease, one of the most common and costly chronic medical conditions globally. RenalytixAI's products are being designed to make significant improvements in kidney disease diagnosis, transplant management, clinical care, patient stratification for drug clinical trials, and drug target discovery. For more information, visit www.renalytixai.com