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Diaceutics PLC announced on April 16, 2026, an agreement to extend its Belfast headquarters lease with O'Connor & McCann Limited, a related party where Non-Executive Chair Peter Keeling is the sole director. The lease term will extend by five years from August 2031 to August 2036. From August 2026, the annual rent for the premises will increase from £195,000 to £235,000, with an open market rent review scheduled for August 2031.
| Date | 16 Apr 2026 |
| Time | 13:11:45 |
| Category | Miscellaneous |
| ID | 8030A |
Diaceutics PLC
Related Party Transaction - Lease Extension
New York, Belfast and London, 16 April 2026 - Diaceutics PLC (AIM: DXRX), a leading technology and solutions provider to the pharma and biotech industry, announces that it has agreed an extension to its existing property lease agreement for its Belfast headquarters with O'Connor & McCann Limited (the 'Lessor'). This constitutes a related party transaction under AIM Rule 13. The Lessor continues to be a related party of the Company by virtue of Peter Keeling, Non-Executive Chair of Diaceutics, being the sole director of the Lessor. Persons closely associated with Peter Keeling hold 13.3% of the Lessor.
Diaceutics (the 'Company') entered into a lease with the Lessor in 2021 at an annual rent of £195,000, which was disclosed at the time as a related party transaction. The lease had a ten-year term (ending in August 2031) with a break clause exercisable after five years at which time the rent would be subject to open market rent review.
Following negotiations, Diaceutics has agreed with the Lessor to extend the lease term by five years from August 2031 to August 2036, securing the longer-term future of the Company's headquarters in Northern Ireland. With effect from August 2026, the annual rent will increase to £235,000, with an open market rent review in August 2031 and no provision to terminate the lease early. All other material provisions of the lease, including the Company's right to sub‑lease the premises, remain unchanged.
The directors of the Company (excluding Peter Keeling), having consulted with the Company's Nominated Adviser, consider that the terms of the lease extension are fair and reasonable insofar as the Company's shareholders are concerned.
Enquiries:
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Diaceutics PLC |
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Ryan Keeling, Chief Executive Officer |
Tel: +44 (0)28 9040 6500 |
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Nick Roberts, Chief Financial Officer |
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Canaccord Genuity Limited (Nomad & Broker) |
Tel: +44 (0)20 7253 8000 |
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Simon Bridges, Andrew Potts, Harry Rees |
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About Diaceutics
At Diaceutics we believe that every patient should get the opportunity to receive the right test and the right therapy to positively impact their disease outcome. We provide the world's leading pharma and biotech companies with an end-to-end commercialisation solution for precision medicines through data analytics, scientific and advisory services enabled by our platform DXRX - The Diagnostics Network ®.