Directors' Interest in Shares and Share Options

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 over which options are held	Percentage of issued shares under option
Olav Hellebø	55,245,859	1.75%
Michael Hunt	33,791,685	1.07%

3. Non-Executive Share Option Scheme 

	Number of shares awarded	Total shares over which options are 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	[phone]
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	[phone]
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. 

 

END

 

 

DSHXBLFLQDFLBBD