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Medgenics Inc (MEDG)

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Monday 13 January, 2014

Medgenics Inc

Director's Dealing

RNS Number : 4431X
Medgenics Inc
13 January 2014
 



 

 

Press Release

13 January 2014

 

 

Director's Dealings

 

Medgenics, Inc. (AIM: MEDU, MEDG and NYSE MKT: MDGN), the developer of BiopumpTM, a novel technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue, announces that, on 8 January 2014, it was informed by Andrew Pearlman, a Director of the Company who retired as CEO on 13 September 2013, that he exercised options on 8 January 2014 for 45,534 shares at an exercise price of US$2.49 per share and sold a total 45,534 shares of common stock at an average price of US$6.54 per share and, on 9 January 2014 it was informed by Dr. Pearlman that he exercised options on 9 January 2014 for 28,466 shares at an exercise price of US$2.49 per share and 6,000 shares at an exercise price of US$3.14 per share and sold 34,466 shares at an average price of US$6.69 per share, in each case under a personal stock trading plan established in accordance with both the guidelines established by Rule 10b5-1 under the U.S. Securities Exchange Act of 1934, as amended, and the AIM Rules for Companies as well as the Company's policies with respect to insider sales. 

 

The stock was sold for personal financial planning purposes including the payment of taxes in connection with the exercise of stock options. Following these option exercises and sales, Dr. Pearlman owns 42,375 shares of common stock representing approximately 0.2 per cent of the issued share capital. Dr. Pearlman also has the right to purchase up to 1,100,968 shares of common stock pursuant to warrants and options previously granted (in aggregate Dr. Pearlman's shares of common stock, warrants, and options represent 1,143,343 shares of common stock which represent approximately 6.1 per cent of the issued share capital). 

 

This announcement is being made pursuant to the London Stock Exchange's AIM Rules for Companies admitted to trading on the AIM market.

 

 

 

About Medgenics

 

Medgenics is developing and commercializing Biopump™, a proprietary tissue-based platform technology for the sustained production and delivery of therapeutic proteins using the patient's own tissue for the treatment of a range of chronic diseases including anemia, hepatitis, among others.  For more information, please visit www.medgenics.com

 

 

 

Contacts:

 

Medgenics, Inc.

John Leaman, CFO

[email protected]


Abchurch Communications

Joanne Shears / Jamie Hooper / Harriet Rae

[email protected]

 

+44 207 398 7718

 

Oriel Securities (NOMAD & Broker)

Jonathan Senior / Giles Balleny

 

+44 207 710 7617 

 



 

 

-Ends-


This information is provided by RNS
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