Directors' Dealings

RNS Number : 0464W

Retroscreen Virology Group PLC

04 November 2014

 



For immediate release 07.00: 4 November 2014

RETROSCREEN VIROLOGY GROUP PLC

("Retroscreen" or the "Company")

DIRECTORS' DEALINGS

On 11 June 2014, Jaime Ellertson was appointed as Non-Executive Chairman of the Company and, on 6 October 2014, Jim Winschel was appointed as a Non-Executive Director and Chairman of the Audit Committee.  At the time of their appointment to the Retroscreen Board of Directors, both Mr Ellertson and Mr Winschel entered into an irrevocable binding commitment to invest a proportion of their annual Non-Executive Director fees in new Retroscreen ordinary shares.

Mr Ellertson will invest a total amount of $80,000 per annum in new Retroscreen shares and Mr Winschel will invest a total amount of £16,000 per annum.  Both of the Directors will purchase the shares on a quarterly basis, with Mr Ellertson purchasing $20,000 of new shares on each of 30 September, 31 December, 31 March and 30 June and Mr Winschel purchasing £4,000 of shares on the same dates.  The purchase price of the shares will be the average mid-market closing share price for the five trading days immediately prior to each quarter-end.  The terms pursuant to which Mr Ellertson and Mr Winschel will purchase their shares are fixed and they have irrevocably committed to such terms.

The Company will apply for the new Retroscreen shares purchased by Mr Ellertson and Mr Winschel to be admitted to trading on AIM each quarter and will provide an appropriate notification to the market ahead of each quarterly admission.

For further information please contact:

Retroscreen Virology Group plc                                                            [phone]

Kym Denny (CEO)

Graham Yeatman (FD)

Media Enquiries                                                          [phone] / [phone]

Colin Paterson (Director of Marketing, Communication and Public Relations)

Numis Securities Limited                                                                      [phone]

Michael Meade / Freddie Barnfield (Nominated Adviser)

James Black / Michael Burke (Corporate Broking)

Notes to Editors:

Retroscreen Virology Group plc ("Retroscreen") is a rapidly growing life sciences company based in the UK pioneering a technology platform called hVIVO which uses human models of disease involving healthy volunteers to discover and study new drugs and diagnostics. To date, Retroscreen has conducted over 35 clinical studies, involving more than 1800 volunteers for a range of leading industry, governmental and academic clients.

 

END

 

 

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