Medgenics Inc Director enters into Stock Trading Plan (3261W)
December 24 2013 - 6:30AM
UK Regulatory
TIDMMEDG TIDMMEDU
RNS Number : 3261W
Medgenics Inc
24 December 2013
Press Release 24 December 2013
Medgenics Announces Director enters into Stock Trading Plan and
Change of Adviser
Medgenics, Inc. (AIM: MEDU, MEDG and NYSE MKT: MDGN), ("the
Company"), the developer of Biopump(TM) , a novel technology for
the sustained production and delivery of therapeutic proteins in
patients using their own tissue, announces that, on 23 December
2013, Dr. Andrew L. Pearlman, founder and a director, has
established a personal stock trading plan in accordance both with
the guidelines established by Rule 10b5-1 under the U.S. Securities
Exchange Act of 1934, as amended, and the AIM Rules for Companies
as well as the Company's policies with respect to insider
sales.
Rule 10b5-1 plans permit directors, officers and other company
insiders to adopt, at times when they are not in possession of
material, non-public information, written plans for trading
securities in a non-discretionary, pre-scheduled manner in the
future. These pre-planned trades can then be executed at a later
date, as spelled out in the plan, without further action by the
director, officer or other company insider and without regard to
any subsequent non-public information the individual might have
received. Such plans also allow insiders to diversify their
holdings and to minimize the market effect of stock sales by
spreading them out over time.
Commencing on December 23, 2013, Dr. Pearlman's plan provides
for the exercise and sale of up to 262,806 stock options over a
period of approximately nine months. The stock is being sold for
personal financial planning purposes including the payment of taxes
in connection with the exercise of stock options.
The transactions under the plan will be disclosed publicly
through Form 144 and Form 4 filings as required by the U.S.
Securities and Exchange Commission and in the UK through a
Regulatory Information Service.
The Company also announces that, Oriel Securities has been
appointed to act as sole broker to the Company and remains as its
Nominated Adviser. The Company has concluded its joint broker
relationship with SVS Securities plc who is thanked for their
support over the last several years.
This announcement is being made pursuant to the London Stock
Exchange's AIM Rules for Companies admitted to trading on the AIM
market.
About Medgenics
Medgenics is developing and commercializing Biopump(TM), a
proprietary tissue-based platform technology for the sustained
production and delivery of therapeutic proteins using the patient's
own tissue for the treatment of a range of chronic diseases
including anemia, hepatitis, among others. For more information,
please visit www.medgenics.com.
Contacts:
Medgenics, Inc.
John Leaman, CFO
john.leaman@medgenics.com
Abchurch Communications
Joanne Shears / Jamie Hooper
/ Harriet Rae
harriet.rae@abchurch-group.com +44 207 398 7718
Oriel Securities (NOMAD & Broker)
Jonathan Senior / Giles Balleny +44 207 710 7617
-Ends-
This information is provided by RNS
The company news service from the London Stock Exchange
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