Grant of Purchase Rights and Verici update

RNS Number : 7366X

Renalytix AI PLC

02 September 2020

 

Renalytix AI plc

("RenalytixAI", the "Company")

Grant of Purchase Rights under the 2020 Employee Share Purchase Plan

and

Verici update

NEW YORK, September 2, 2020 - Renalytix AI plc ( LSE: RENX) (NASDAQ: RNLX) announces that on 28 August 2020 it granted purchase rights (the "Purchase Rights") to, amongst others, O. James Sterling, Chief Financial Officer, pursuant to the Company's 2020 Employee Share Purchase Plan (the "2020 ESPP").

The Purchase Rights are in the form of a right to acquire the Company's American Depositary Shares (each representing two ordinary shares in the capital of the Company) ("ADSs") on 27 February 2021 (the "Purchase Date") using deductions taken from salary over a six month period at a purchase price equal to 85 per cent of the lower of the closing price of the Company's ADSs on the Nasdaq Global Market on (i) 28 August 2020 (being US$14.78) and (ii) the Purchase Date. The number of ADSs acquired by O. James Sterling will be calculated on the Purchase Date and announced, together with the purchase price, thereafter.

The 2020 ESPP was approved by shareholders at the general meeting of the Company held on 13 July 2020 and details of the 2020 ESPP were set out in the circular to shareholders dated 25 June 2020. Subject to certain qualifying conditions, participation in the 2020 ESPP is open on the same terms to all of the employees of the Company's US subsidiary, Renalytix AI, Inc.

Verici update

The Company announced on 8 July 2020 that the share capital of Verici Dx has been re-designated into 59,416,134 A Shares of £0.001 each and 1 golden share of £0.001 (the "Golden Share") and that the Company would retain the Golden Share and its associated controlling voting rights. Subsequent to this announcement, the Company has entered into a declaration of trust whereby Renalytix AI plc has declared that it holds the Golden Share as nominee and on trust for Fergus Fleming, Erik Lium, James McCullough, Christopher Mills, Barbara Murphy and Chirag Parikh (the Directors of RenalytixAI) and accordingly the Company itself has no ongoing beneficial interest in Verici Dx shares. This change has been made so as to comply with EIS/VCT eligibility for Verici.

Additional information relating to the shares in Verici can be found in the announcement made by RenalytixAI on 8 July 2020.  That announcement includes details as to the Verici A Shares being held on trust for the beneficial holders, the conversion of the A Shares and the Golden Share into Verici ordinary shares on a one-for-one basis in the event of an AIM IPO of Verici or otherwise after a certain time period, and lock-up arrangements pertaining to Verici shares.  Further announcements may be made by Verici directly in due course.

For further information, please contact:

Renalytix AI plc		www.renalytixai.com
James McCullough, CEO		Via Walbrook PR
Stifel (Nominated Adviser, Joint Broker )		Tel: [phone]
Alex Price / Nicholas Moore
N+1 Singer (Joint Broker)		Tel: [phone]
Aubrey Powell / George Tzimas (Corporate Finance)
Tom Salvesen (Corporate Broking)
Walbrook PR Limited	Tel: [phone] or  [e-mail]
Paul McManus / Lianne Cawthorne		Mob: [phone]

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	O. James Sterling
2	Reason for the notification
a)	Position/status	Chief Financial Officer (PDMR)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Renalytix AI plc
b)	LEI	213800NTOH3FK3WER551
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
) a)	Description of the financial instrument, type of instrument	Purchase rights over American Depositary Shares each representing two ordinary shares of £0.0025 each in the capital of Renalytix AI plc
	Identification code	GB00BYWL4Y04
b)	Nature of the transaction	Grant of purchase rights
c)	Price(s) and volume(s)
				Price(s)	Volume(s)
				Unknown	Unknown
d)	Aggregated information
	- Aggregated volume	Unknown
	- Price	Unknown
e)	Date of the transaction	28 August 2020
f)	Place of the transaction	Outside a trading venue

About RenalytixAI

RenalytixAI is a developer of artificial intelligence-enabled clinical in vitro diagnostic solutions for kidney disease, one of the most common and costly chronic medical conditions globally. RenalytixAI's products are being designed to make significant improvements in kidney disease diagnosis, clinical care, patient stratification for drug clinical trials and drug target discovery. For more information, visit  www.renalytixai.com .  

 

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