Last checked at 28 Dec 2022 07:00
Shield Therapeutics plc
("Shield Therapeutics" or the "Company")
PDMR Transaction Notification
London, UK, 28 December 2022: Shield Therapeutics plc (LSE:STX), a commercial stage pharmaceutical company with a focus on addressing iron deficiency with its lead product Accrufer®/Feraccru® (ferric maltol), confirms that, as previously announced on 13 December 2022, Mr Greg Madison, Chief Executive Officer, acquired 1,000,000 Ordinary Shares in the Company on 1 December 2022 at a price of 1.5p per share through the automatic exercise of onboarding recruitment share options granted under the Shield Therapeutics Retention and Performance Share Plan. As per the rules of the Share Plan, no action or direction was undertaken or made by Mr Madison in relation to the exercise of those options.
Shield now announces that, as required by the terms of the Share Plan, 466,395 of the resulting Ordinary Shares were sold on behalf of Mr Madison on 23 December 2022 at a price of 6.8p per Ordinary Share, raising aggregate gross proceeds of £31,714.86 in order to raise funds sufficient to cover the exercise costs of the options and associated tax liabilities. The anticipated sale of a number of Ordinary Shares by Mr Madison to cover exercise costs and associated tax liabilities was also announced on 13 December 2022. As per the rules of the Share Plan, the sale of the 466,395 Ordinary Shares by Mr Madison was mandatory and no action or direction was undertaken or made by him in relation to the sale. Following these transaction, Mr Madison has a beneficial interest in 533,605 Ordinary Shares.
The notification below, which has been made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a. | Name | Gregory Madison | ||||
2. | Reason for the notification | |||||
a. | Position/status | Chief Executive Officer | ||||
b. | Initial notification /Amendment | Initial | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a. | Name | Shield Therapeutics plc | ||||
b. | LEI | 213800G74QWY15FC3W71 | ||||
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 1.5p each in the capital of the Company
ISIN of Ordinary Shares: GB00BYV81293 | ||||
b. | Nature of the transaction |
Disposal of Ordinary Shares
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c. | Price(s) and volume(s) |
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d. | Aggregated information · Aggregated volume · Price
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466,395
£31,714.86
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e. | Date of the transaction | 23 December 2022 | ||||
f. | Place of the transaction | AIM
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For further information please contact:
Shield Therapeutics plc | www.shieldtherapeutics.com |
Greg Madison, CEO | +44 (0) 191 511 8500 |
Hans-Peter Rudolf, CFO |
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Nominated Adviser and Joint Broker |
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Peel Hunt LLP |
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James Steel/Oliver Duckworth | +44 (0)20 7418 8900 |
Joint Broker finnCap Ltd Geoff Nash/ George Dollemore/Alice Lane/Nigel Birks |
+44 (0)20 7220 0500 |
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Financial PR & IR Advisor |
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Walbrook PR |
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Lianne Applegarth/Alice Woodings | +44 (0)20 7933 8780 or shield@walbrookpr.com |
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Investor Contact (US Advisor) LifeSci Advisors, LLC John Mullaly |
+1 617 429 3548 or jmullaly@lifesciadvisors.com |
About Accrufer®/Feraccru®
Accrufer®/Feraccru® (ferric maltol) is a novel, stable, non-salt based oral therapy for adults with iron deficiency, with or without anemia. Accrufer®/Feraccru® has a novel mechanism of action compared to other oral iron therapies and has been shown to be an efficacious and well-tolerated therapy in a range of clinical trials. More information about Accrufer®/Feraccru®, including the product label, can be found at: www.accrufer.com and www.feraccru.com
About Shield Therapeutics plc
Shield is a commercial stage specialty pharmaceutical company with a focus on addressing iron deficiency with its lead product Accrufer®/Feraccru® (ferric maltol). The Group has launched Accrufer® in the US and Feraccru® is commercialized in the UK and European Union by Norgine B.V., who also have the marketing rights in Australia and New Zealand. Shield also has an exclusive license agreement with Beijing Aosaikang Pharmaceutical Co., Ltd., for the development and commercialization of Accrufer® / Feraccru® in China, Hong Kong, Macau and Taiwan, with Korea Pharma Co., Ltd. in the Republic of Korea, and with KYE Pharmaceuticals Inc. in Canada.
Accrufer®/Feraccru® has patent coverage until the mid-2030s
Accrufer®/Feraccru® are registered trademarks of the Shield Group