Exercise of Share Options and Director Dealings
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Cambridge, UK, 2 November 2023 - Sareum Holdings plc (AIM: SAR), a biotechnology company developing next generation kinase inhibitors for autoimmune disease and cancer, announces that on 30 October 2023, Dr Tim Mitchell, Chief Executive Officer, and Dr John Reader, Chief Scientific Officer, each exercised options over 95,040 ordinary shares of 1.25 pence each ("New Ordinary Shares") in the Company (the "Options"), at an exercise price of 30 pence per New Ordinary Share, for an aggregate consideration of £57,024.
The Options were granted on 18 December 2013, under the Sareum Holdings plc Enterprise Management Incentives Option Agreement, and were due to lapse on 17 December 2023.
On exercise, Dr Mitchell and Dr Reader noted their intention to sell a proportion of such New Ordinary Shares in the market on receipt, partly in order to compensate for the cost and tax liabilities arising from the exercise. A further announcement will be released in due course disclosing such sales.
Following Admission (as defined below), Dr Mitchell's and Dr Reader's resultant interests in the Company will be as follows:
| Director/ PDMR | Date of transaction | Number of shares purchased via Option exercise | Purchase price | Total shares held | Percentage of issued share capital |
|---|---|---|---|---|---|
| T im Mitchell (1) | 30 October 2023 | 95,040 | 30p | 1,104,561 | 1.57% |
| J ohn Reader (2) | 30 October 2023 | 95,040 | 30p | 1,127,537 | 1.60% |
- - Included within Tim Mitchell's total holding are 200,000 Ordinary Shares held by his spouse.
- - Included withing John Reader's total holding are 66,666 Ordinary Shares held by his spouse. Please note this record corrects the typographical error in respect of John Reader's shareholding announced on 3 November 2021.
Admission
Application has been made to the London Stock Exchange for the 190,080 New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective and trading will commence at 8.00 a.m. on 3 November 2023.
Following Admission, the total number of Ordinary Shares in issue will be 70,261,878 and the total number of voting rights will therefore be 70,261,878. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Tim Mitchell | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Chief Executive Officer | ||||
| b) | Initial notification/amendment | Initial notification | ||||
| a) | Name | SAREUM HOLDINGS PLC | ||||
| b) | LEI | 213800PKERN2DY8FFM72 | ||||
| a) | Description of the Financial instrument, type of instrument | Ordinary shares of 1.25p each in the share capital of Sareum Holdings plc | ||||
| Identification code | ISIN for Ordinary Shares: GB00B02RFS12 | |||||
| b) | Nature of the Transaction | Exercise of Options to acquire ordinary shares | ||||
| c) | Price(s) and volume(s) |
acquired by way of an exercise of options | ||||
| d) | Aggregated information - Aggregated volume - Price |
acquired by way of an exercise of options | ||||
| e) | Date of the transaction | 30 October 2023 | ||||
| f) | Place of the transaction | London Stock Exchange (AIM) | ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | John Reader | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Chief Scientific Officer | ||||
| b) | Initial notification/amendment | Initial notification | ||||
| a) | Name | SAREUM HOLDINGS PLC | ||||
| b) | LEI | 213800PKERN2DY8FFM72 | ||||
| a) | Description of the Financial instrument, type of instrument | Ordinary shares of 0.025p each in the share capital of Sareum Holdings plc | ||||
| Identification code | ISIN for Ordinary Shares: GB00B02RFS12 | |||||
| b) | Nature of the Transaction | Exercise of Options to acquire ordinary shares | ||||
| c) | Price(s) and volume(s) |
acquired by way of an exercise of options | ||||
| d) | Aggregated information - Aggregated volume - Price |
acquired by way of an exercise of options | ||||
| e) | Date of the transaction | 30 October 2023 | ||||
| f) | Place of the transaction | London Stock Exchange (AIM) |
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