ReNeuron Group plc Director exit arrangements (3255Q)
26 Octubre 2021 - 09:09AM
UK Regulatory
TIDMRENE
RNS Number : 3255Q
ReNeuron Group plc
26 October 2021
ReNeuron Group plc
("ReNeuron" or the "Company")
Director exit arrangements
ReNeuron Group plc (AIM: RENE), a global leader in the
development of cell-based therapeutics, announces that pursuant to
the departure of its former Chief Financial Officer, Michael Hunt,
certain exit arrangements were previously entered into which are
deemed to be related party arrangements under the AIM Rules for
Companies.
As set out in the Company's annual report, in addition to Mr
Hunt's contractual entitlements, an ex gratia bonus of GBP40,000
was granted to reflect Mr Hunt's long service and contribution to
the Company. In addition, the Board has agreed that certain of Mr
Hunt's options would benefit from accelerated vesting, while the
remainder in those particular schemes will lapse. Out of the
181,236 options under these particular schemes, 25,816 had vested
under their original terms, 77,708 were agreed to have accelerated
vesting while 77,712 were lapsed. Mr Hunt's options under other
awards (as disclosed in the Company's latest annual report)
amounting to 529,815 options remain unchanged.
The above arrangements constitute a related party transaction
under the AIM Rules for Companies. The directors, excluding Michael
Hunt who is no longer a director, consider, having consulted with
the Company's nominated adviser, Stifel Nicolaus Europe Limited,
that the terms of the transaction are fair and reasonable insofar
as the Company's shareholders are concerned.
ENDS
Contacts:
ReNeuron www.reneuron.com/investors
Olav Hellebø, Chief Executive Via Walbrook PR
Officer
Catherine Isted, Chief Financial Officer
Stifel Nicolaus Europe Limited (NOMAD
and Joint Broker) +44 (0)20 7710 7600
Ben Maddison, Stewart Wallace
Allenby Capital Limited (Joint Broker) +44 (0)20 3328 5656
James Reeve/George Payne (Corporate
Finance)
Stefano Aquilino (Sales & Corporate
Broking)
Walbrook PR (Media & Investor Relations) +44 (0)20 7933 8780 or reneuron@walbrookpr.com
+44 (0)7980 541 893 / +44 (0)7407
Paul McManus, Alice Woodings 804 654
About ReNeuron
ReNeuron is a global leader in cell-based therapeutics,
harnessing its unique stem cell technologies to develop 'off the
shelf' stem cell treatments for disease with significant unmet
needs. The Company's lead cell therapy candidate is in clinical
development for the blindness-causing disease, retinitis
pigmentosa.
ReNeuron is also advancing its proprietary exosome technology
platform as a potential delivery system for drugs that treat
diseases of the central nervous system and other disorders. The
Company also has the ability through its conditionally immortalised
induced pluripotent stem cell (iPSC) platform to make allogeneic
tissue cells of choice; in-house programmes are currently focused
on treatments for blood cancers and diabetes.
ReNeuron's shares are traded on the London AIM market under the
symbol RENE.L. For further information visit www.reneuron.com
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END
MSCFLFISIDLRFIL
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October 26, 2021 10:09 ET (14:09 GMT)
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