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On 24 November 2021, Arecor Therapeutics plc granted a total of 87,500 options under its All Employee Share Ownership Plan (AESOP) and 75,000 options under its Long Term Incentive Plan (LTIP). Lindsey Foulkes, Chief Operating Officer, received 40,000 AESOP options exercisable at £4.15 and 75,000 LTIP options exercisable at £0.01, bringing her total holding to 115,000 options.
| Date | 25 Nov 2021 |
| Time | 07:00:04 |
| Category | Director/PDMR dealings |
| ID | 5231T |
Arecor Therapeutics plc
("Arecor", the "Company" or the "Group")
Grant of Options, PDMR Dealing
Cambridge, UK, 25 November 2021: Arecor Therapeutics plc (AIM: AREC), the biopharmaceutical group advancing today's therapies to enable healthier lives, announces that on 24 November 2021, it granted a total of 87,500 options under the Company's All Employee Share Ownership Plan ("AESOP Options") and 75,000 options under the Company's Long Term Incentive Plan ("LTIP Options") over new ordinary shares of 0.1 pence each in the Company ("Ordinary Shares").
The AESOP Options, which vest after 12 months, are exercisable at £4.15, subject to continuous employment, and are exercisable up to ten years from the date of grant. The LTIP Options are exercisable at £0.01, subject to continued employment and the meeting of certain performance conditions, and are exercisable up to ten years from the date of grant. 40,000 of the AESOP Options and 75,000 of the LTIP Options were granted to Lindsey Foulkes, Chief Operating Officer and a PDMR of the Company. Following this grant of options, Lindsey Foulkes holds 115,000 options over Ordinary Shares of the Company.
The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.
For further information, please contact:
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Arecor Therapeutics plc
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Dr Sarah Howell, Chief Executive Officer |
Tel: +44 (0) 1223 426060 Email: [email protected]
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Susan Lowther, Chief Financial Officer |
Tel: +44 (0) 1223 426060 Email: [email protected]
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Mo Noonan, Communications |
Tel: +44 (0) 7876 444977 Email: [email protected] |
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Panmure Gordon (UK) Limited (NOMAD and Broker) Freddy Crossley, Emma Earl (Corporate Finance) Rupert Dearden (Corporate Broking) |
Tel: +44 (0) 20 7886 2500
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Consilium Strategic Communications |
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Chris Gardner, David Daley, Angela Gray |
Tel: +44 (0) 20 3709 5700 Email: [email protected] |
Notes to Editors
About Arecor
Arecor Therapeutics plc is a globally focused biopharmaceutical company transforming patient care by bringing innovative medicines to market through the enhancement of existing therapeutic products. By applying our innovative proprietary formulation technology platform, Arestat™, we are developing an internal portfolio of proprietary products in diabetes and other indications, as well as working with leading pharmaceutical and biotechnology companies to deliver enhanced formulations of their therapeutic products. The Arestat ™ platform is supported by an extensive patent portfolio.
For further details please see our website, www.arecor.com
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
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Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name: |
Lindsey Foulkes |
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2. |
Reason for the notification |
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a) |
Position/status: |
Chief Operating Officer |
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b) |
Initial notification/Amendment: |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name: |
Arecor Therapeutics PLC |
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b) |
LEI: |
98450093D12I3A8DDD58 |
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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 |
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a) |
Description of the financial instrument, type of instrument: Identification code: |
Ordinary shares of 1 pence each GB00BMWLM973 |
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b) |
Nature of the transaction: |
Grant of options over ordinary shares |
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c) |
Price(s) and volume(s): |
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d) |
Aggregated information: · Aggregated volume: · Price: |
115,000 N/A |
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e) |
Date of the transaction: |
24 November 2021 |
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f) |
Place of the transaction: |
Outside of a trading venue |
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