OKYO Pharma Limited – PDMR Negotiation
LONDON and NEW YORK, May 18, 2022 (GLOBE NEWSWIRE) — OKYO Pharma Limited (LSE: OKYO; NASDAQ: OKYO), a biotechnology company focused on the discovery and development of novel molecules to treat inflammatory eye diseases dry and eye pain, today announces that it has been informed that Panetta Partners Limited, an entity in which Gabriele Cerrone, the Executive Chairman holds a beneficial interest, has purchased 25,000 ADSs (each representing 65 common shares without par value on the market ) at a price of 3.8749 USD per ADS.
The acquisition increases Mr. Cerrone’s beneficial interest in the capital of the Company from 39.52% to 39.64% (however, the impact of the closing of the offer announced on May 19, 2022 (the “Offer “) will reduce this interest to, in aggregate, 38.50% after (i) the ordinary shares to be issued pursuant to the Offer; and (ii) the 25,000 ADSs purchased by Mr. Cerrone pursuant to the Offer).
|1.||Contact details of PDMR / person closely related|
|2.||Reason for notification|
|a)||Position / status||President|
|b)||Initial Notification/Amendment||Initial notice|
|a)||name||OKYO Pharma Limited|
|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 location where transactions were conducted|
|a)||Description of the financial instrument||ADS representing 65 Ordinary Shares without par value|
|b)||Financial Instrument identification code||ISIN for OKYO Pharma Limited ADS: US6793451088|
|vs)||Nature of the operation||Purchase at the market|
|D)||Price(s) and volume(s)||US$3.8749 – 25,000|
|F)||Transaction date||May 17, 2022|
|g)||Place of transaction||NASDAQ|
|OKYO Pharma Limited||Gary S. Jacob, General Manager
Gabriele Cerrone, Non-Executive Chairman
|+44 (0)20 7495 2379|
|Optiva Securities Limited
|Robert Emmet||+44 (0)20 3981 4173|
|Companies RedChip Inc.
|David Gentry||[email protected]
Notes for editors:
OKYO Pharma Limited (LSE: OKYO; NASDAQ: OKYO) is a life science and biotechnology company admitted to listing on the Standard Segment of the UK Financial Conduct Authority’s official list and to trading on the Main Securities Market. listed on the London Stock Exchange. plc. OKYO focuses on the discovery and development of new molecules to treat inflammatory dry eye disease and chronic pain.
OK-101 is a lipidated chemerin peptide antagonist of the G protein-coupled receptor ChemR23 that is typically found on the immunological cells of the eye responsible for the inflammatory response. OK-101 was developed using membrane-anchored peptide (MAP) technology to produce a novel long-acting drug candidate for the treatment of DED. OK-101 has been shown to produce anti-inflammatory activity in mouse models of DED and is designed to combat washout through the inclusion of the lipid “anchor” contained in the candidate drug molecule for improve the residence time of OK-101 in the eyepiece environment.
About Dry Eye Disease (DED)
Dry eye is a multifactorial disease that causes ocular discomfort and tear film instability that can lead to ocular surface damage. It is often a chronic problem, especially in older people, and is expected to become even more prevalent with an aging population and increased use of digital screens such as computers and smart phones. Despite new product approvals, dry eye disease (DED) remains a significant unmet medical need and is a leading cause of patient visits to eye care specialists. New therapies that improve the signs and symptoms of dry eye disease will benefit patients with dry eye disease.
For more information, please visit the Company’s website at www.okyopharma.com.