Exercise of Share Options and Director Dealings

RNS Number : 2516R

Sareum Holdings PLC

03 November 2021

 

Sareum Holdings PLC

("Sareum" or the "Company")

Exercise of Share Options and Director Dealings 

Cambridge, UK, 3 November 2021 - Sareum Holdings plc (AIM: SAR), the specialist drug development company delivering targeted small molecule therapeutics to improve the treatment of cancer and autoimmune diseases, announces the following share transactions carried out by certain Directors.

On 3 November 2021, Dr Tim Mitchell (Chief Executive Officer) and Dr John Reader (Chief Scientific Officer) each exercised options over 2,566,666 ordinary shares of 0.025 pence each ("New Ordinary Shares") in the Company (the "Options"), at an exercise price of 1.2 pence per share, for an aggregate consideration of £61,600.

The Options were granted on 13 March 2012, under the Sareum Holdings plc Enterprise Management Incentives Option Agreement, as a key part of the Company's long-term incentive scheme to retain key talent in the business. The Options were due to lapse on 12 March 2022.

Following the exercise of the Options, on 3 November 2021, Dr Mitchell and Dr Reader each agreed to sell all 2,566,666 of the New Ordinary Shares at a price of 6.0 pence per share (the "Share Sale").

Application has been made to the London Stock Exchange for the 5,133,332 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 10 November 2021.

Following Admission, the total number of Ordinary Shares in issue will be 3,370,834,480 and the total number of voting rights will therefore be 3,370,834,480. 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.

Following the Option exercise and Share Sale, Dr Mitchell's and Dr Reader's resultant interests in the Company will be:

Director/ PDMR	Date of transaction	Number of shares purchased via Option exercise	Purchase price	Number of shares sold	Sale price	Total shares held	Percentage of issued share capital
Tim Mitchell (1)	3 November 2021	2,566,666	1.2p	2,566,666	6.0p	50,476,073	1.50%
John Reader (2)	3 November 2021	2,566,666	1.2p	2,566,666	6.0p	51,625,385	1.53%

(1) - Included within Tim Mitchell's total holding are 10,000,000 Ordinary Shares held by his spouse.

(2) - Included withing John Reader's total holding are 3,333,791 Ordinary Shares held by his spouse.

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

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
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	SAREUM HOLDINGS PLC
b)	LEI	213800PKERN2DY8FFM72
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	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	(a)  Exercise of Options to acquire ordinary shares (b)  Sale of ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) (a)  1.2p (b)  6.0p (a)  2,566,666 (b)  2,566,666
d)	Aggregated information -  Aggregated volume -  Price	-  0 ordinary shares acquired -  n/a
e)	Date of the transaction	3 November 2021
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
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	SAREUM HOLDINGS PLC
b)	LEI	213800PKERN2DY8FFM72
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	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	(a)  Exercise of Options to acquire ordinary shares (b)  Sale of ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) (c)  1.2p (a)  6.0p (c)  2,566,666 (a)  2,566,666
d)	Aggregated information -  Aggregated volume -  Price	-  0 ordinary shares acquired -  n/a
e)	Date of the transaction	3 November 2021
f)	Place of the transaction	London Stock Exchange (AIM)

For further information, please contact: 

Sareum Holdings plc Tim Mitchell, CEO	01223 497 700
Strand Hanson Limited (Nominated Adviser) James Dance / James Bellman	020 7409 3494
Peel Hunt LLP (Joint Corporate Broker) James Steel	020 7418 8900
Hybridan LLP (Joint Corporate Broker) Claire Noyce	020 3764 2341
MEDiSTRAVA Consulting (Financial PR) Mark Swallow / David Dible	020 7638 9571

About Sareum

Sareum is a specialist drug development company delivering targeted small molecule therapeutics to improve the treatment of cancer and autoimmune diseases. The Company aims to generate value through licensing its candidates to international pharmaceutical and biotechnology companies at the preclinical or early clinical trials stage.

Sareum is advancing internal programmes focused on distinct dual tyrosine kinase 2 (TYK2) / Janus kinase 1 (JAK1) inhibitors through preclinical development as therapies for autoimmune diseases, including the 'cytokine storm' immune system overreaction to Covid-19 and other viral infections, (SDC-1801) and cancer immunotherapy (SDC-1802).

Sareum also has an economic interest in SRA737, a clinical-stage oral, selective Checkpoint kinase 1 (Chk1) inhibitor that targets cancer cell replication and DNA damage repair mechanisms. Preliminary Phase 2 and comprehensive preclinical data suggest SRA737 may have broad application in combination with other oncology and immune-oncology drugs in genetically defined patients.

SRA737 was discovered and initially developed by scientists at The Institute of Cancer Research in collaboration with Sareum, and with funding from Sareum and Cancer Research UK. SRA737 was licensed by CRT Pioneer Fund (CPF) to Sierra Oncology Inc. Sierra continues to explore options that would enable the development of SRA737 to advance.

Sareum Holdings plc is listed on the AIM market of the London Stock Exchange, trading under the ticker SAR. For further information, please visit the Company's website at www.sareum.com  

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