TIDMRENE
RNS Number : 7721E
ReNeuron Group plc
20 July 2016
20 July 2016 AIM: RENE
ReNeuron Group plc
Directors' Interest in Shares and Share Options
ReNeuron Group plc (the "Company") (AIM: RENE), a UK-based
global leader in the development of cell-based therapeutics, today
announces that on 19 July 2016, the following awards were made
under the Company's share-based incentive plans:
1. Long Term Incentive Plan (LTIP)
Number of LTIP
share options
granted
Olav Hellebø 19,066,667
Michael Hunt 8,291,667
The LTIP awards are share options granted at nominal value and
are subject to a three-year holding period, exercisable from the
third anniversary of the award. The options are exercisable subject
to the achievement of the following performance conditions:
1) When the first patient is administered with a ReNeuron cell
therapy in a seventh clinical trial, one third of the options will
vest.
2) When the fifth clinical trial of a ReNeuron cell therapy
completes, one third of the options will vest.
3) If the Total Shareholder Return (TSR) of the Company meets or
exceeds that of the FTSE AIM Healthcare Index in any given three
year period from the date of grant, one third of the options will
vest.
2. Deferred Share-based Bonus Plan
Number of Bonus
Plan share options
granted
Olav Hellebø 2,500,000
Michael
Hunt 1,250,000
The Deferred Share-based Bonus plan awards are share options
granted at nominal value in lieu of an equivalent cash bonus and
are subject to a two-year holding period, exercisable from the
second anniversary of the award.
After the above share option grants, the executive directors of
the Company have the following share option holdings:
Total shares Percentage of issued
over which shares under option
options are
held
Olav Hellebø 55,245,859 1.75%
Michael Hunt 33,791,685 1.07%
3. Non-Executive Share Option Scheme
Total shares over
Number of which options are
shares awarded held
John Berriman 300,000 2,555,322
Simon Cartmell 300,000 2,555,322
Tim Corn 300,000 1,875,249
Chris Evans 300,000 1,300,000
Paul Harper 300,000 3,346,183
Mike Owen 300,000 300,000
The Non-Executive Directors of the Company are remunerated
partly in cash and partly in the form of share options granted
under the Non-Executive Share Option Scheme. In order to remove as
far as possible any incentive element that might influence the
Non-Executive Directors' independence, share options are granted
under the Non-Executive Share Option Scheme at nominal value
without performance conditions attaching and vest over three years
on a straight line basis.
ENDS
ENQUIRIES:
ReNeuron +44 (0)20 3819 8400
Olav Hellebø , Chief Executive Officer
Michael Hunt, Chief Financial Officer
Buchanan +44 (0) 20 7466 5000
Mark Court, Sophie Cowles, Stephanie Watson
Stifel Nicolaus Europe Limited +44 (0) 20 7710 7600
Jonathan Senior, Stewart Wallace, Ben Maddison (NOMAD and Broker)
About ReNeuron
ReNeuron is a leading, clinical-stage cell therapy development
company. Based in the UK, its primary objective is the development
of novel cell-based therapies targeting areas of significant unmet
or poorly met medical need.
ReNeuron has used its unique stem cell technologies to develop
cell-based therapies for significant disease conditions where the
cells can be readily administered "off-the-shelf" to any eligible
patient without the need for additional immunosuppressive drug
treatments. The Company has therapeutic candidates in clinical
development for motor disability as a result of stroke, for
critical limb ischaemia and for the blindness-causing disease,
retinitis pigmentosa.
ReNeuron is also advancing its proprietary exosome technology
platform as a potential new nanomedicine targeting cancer and as a
potential delivery system for gene therapy treatments.
ReNeuron's shares are traded on the London AIM market under the
symbol RENE.L. Further information on ReNeuron and its products can
be found at www.reneuron.com.
This announcement contains forward-looking statements with
respect to the financial condition, results of operations and
business achievements/performance of ReNeuron and certain of the
plans and objectives of management of ReNeuron with respect
thereto. These statements may generally, but not always, be
identified by the use of words such as "should", "expects",
"estimates", "believes" or similar expressions. This announcement
also contains forward-looking statements attributed to certain
third parties relating to their estimates regarding the growth of
markets and demand for products. By their nature, forward-looking
statements involve risk and uncertainty because they reflect
ReNeuron's current expectations and assumptions as to future events
and circumstances that may not prove accurate. A number of factors
could cause ReNeuron's actual financial condition, results of
operations and business achievements/performance to differ
materially from the estimates made or implied in such
forward-looking statements and, accordingly, reliance should not be
placed on such statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHXBLFLQDFLBBD
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July 20, 2016 09:31 ET (13:31 GMT)
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