OKYO Pharma Limited - PDMR Dealing

Rhea-AI Summary

OKYO Pharma Limited (LSE: OKYO; NASDAQ: OKYO) announced that Panetta Partners Limited acquired 5,800,000 ordinary shares at £0.0625 each on May 19, 2022. This purchase increases Gabriele Cerrone's beneficial interest from 39.64% to 40.06%. However, dilution from a recent offering reduces his holdings to 39.08%. The company's focus on developing novel molecules for treating inflammatory dry eye diseases remains ongoing, highlighting its commitment to addressing significant medical needs in the eye care market.

Positive

• Acquisition of 5,800,000 shares demonstrates insider confidence in OKYO.
• Cerrone's increased stake reflects ongoing commitment to the company's future.

Negative

• Dilution from the recent offering reduces Cerrone's beneficial interest to 39.08%.
• Potential concerns regarding shareholder dilution and its impact on share value.

LONDON and BOSTON, May 20, 2022 (GLOBE NEWSWIRE) -- OKYO Pharma Limited (LSE: OKYO; NASDAQ: OKYO), a life sciences company focused on the discovery and development of novel molecules to treat inflammatory dry eye diseases and ocular pain, today announces that it has been notified that Panetta Partners Limited, an entity in which Gabriele Cerrone, the Executive Chairman has a beneficial interest, purchased 5,800,000 ordinary shares of no par value ("Ordinary Shares") at a price of £0.0625 each (which would be equivalent to the purchase of 89,230 of the Company's ADSs on NASDAQ at a price of US$5.08 per ADS).

The acquisition would have increased Mr Cerrone's beneficial interests in the capital of the Company from 39.64% to 40.06%, however the impact of the offering which closed yesterday, reduces these holdings to, in aggregate, 39.08% after allowing for; (i) the dilutive effect of the Ordinary Shares to be issued in the Offering; and (ii) the 25,000 ADS (representing 1,625,000 Ordinary Shares) purchased by Mr Cerrone in the Offering).

1.	Details of PDMR / person closely associated
a)	Name	Gabriele Cerrone
2.	Reason for the notification
a)	Position / status	Chairman
b)	Initial notification /amendment	Initial notification
3.	Details of the issuer
a)	Name	OKYO Pharma Limited
b)	LEI	213800VVN5CB56Y15A05
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	Ordinary Shares of no par value
b)	Identification code of the Financial Instrument	ISIN for OKYO Pharma Limited GG00BD3FV870
c)	Nature of the transaction	Market Purchase
d)	Price(s) and volume(s)	£0.0625 - 5,800,000
f)	Date of the transaction	19 May 2022
g)	Place of the transaction	XLON

Enquiries:

OKYO Pharma Limited	Gary S. Jacob, Chief Executive Officer Gabriele Cerrone, Non-Executive Chairman	+44 (0)20 7495 2379
Optiva Securities Limited (Broker)	Robert Emmet	+44 (0)20 3981 4173
RedChip Companies Inc. (Investor Relations)	Dave Gentry	dave@redchip.com +1 407-491-4498

Notes for Editors:

About OKYO

OKYO Pharma Limited (LSE: OKYO; NASDAQ: OKYO) is a life sciences company admitted to listing on the standard segment of the Official List of the UK Financial Conduct Authority and to trading on the main market for listed securities of London Stock Exchange plc. OKYO is focusing on the discovery and development of novel molecules to treat inflammatory dry eye diseases and chronic pain.

About OK-101

OK-101 is a lipidated chemerin peptide antagonist of the ChemR23 G-protein coupled receptor which is typically found on immunological cells of the eye responsible for the inflammatory response. OK-101 was developed using a membrane-anchored-peptide (MAP) Technology to produce a novel long-acting drug candidate for treating 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 to enhance the residence time of OK-101 within the ocular environment.

About Dry Eye Disease (DED)

Dry eye is a multifactorial disease that results in ocular discomfort and tear film instability that can lead to ocular surface damage. It is often a chronic problem, particularly in older adults, and is expected to become even more prevalent with the 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 one of the leading causes for patient visits to eye care specialists. Novel therapies that improve the signs and symptoms of dry eye disease will be beneficial to dry eye patients.

For further information, please visit the Company's website at www.okyopharma.com.

FAQ

What recent stock purchase was made by Gabriele Cerrone of OKYO Pharma?

Gabriele Cerrone's Panetta Partners Limited bought 5,800,000 shares at £0.0625 each on May 19, 2022.

How did Gabriele Cerrone's shareholding change after the recent purchase?

His beneficial interest increased from 39.64% to 40.06%, but dilution from an offering subsequently reduced it to 39.08%.

What impact did the recent offering have on OKYO Pharma's shareholding structure?

The offering led to a dilution effect, lowering Cerrone's stake in the company.

What is OKYO Pharma focused on developing?

OKYO Pharma is engaged in developing novel molecules to treat inflammatory dry eye diseases.

What was the price per share for the recent stock purchase by Panetta Partners?

The shares were purchased at a price of £0.0625 each.