Renalytix AI plc Issue of Shares Under the 2020 Employee Share Purchase Plan, PDMR Dealing and Total Voting Rights

Rhea-AI Summary

Renalytix AI plc (NASDAQ: RNLX) announced the issuance of 17,652 ordinary shares under its Employee Share Purchase Plan (ESPP) to settle the purchase of 8,826 American Depositary Shares (ADSs) by employees. CFO O. James Sterling acquired 4,596 ordinary shares at £4.50 each ($12.563 per ADS). Following the issuance, the total number of ordinary shares will be 72,047,286, with each share carrying one vote. Admission of the new shares on the London Stock Exchange is expected on or around March 9, 2021.

Positive

• Issuance of 17,652 new ordinary shares under the Employee Share Purchase Plan (ESPP) increases employee engagement.
• CFO O. James Sterling's participation indicates confidence in the company's future.

Negative

• Potential dilution of existing shareholders due to the issuance of new shares.

NEW YORK, March 04, 2021 (GLOBE NEWSWIRE) -- Renalytix AI plc (LSE: RENX) (NASDAQ: RNLX), an artificial intelligence-enabled in vitro diagnostics company, focused on optimizing clinical management of kidney disease to drive improved patient outcomes and advance value-based care, announces that under the Company’s Employee Share Purchase Plan (“the ESPP”), new 17,652 ordinary shares of £0.0025 each in the capital of the Company (“the Ordinary Shares”) have been issued to settle the purchase of 8,826 American Depositary Shares, each representing two Ordinary Shares (“ADSs”) by employees who participated in the ESPP. Further details in relation to the ESPP were contained in the Company’s announcement of 2 September 2020.

O. James Sterling, Chief Financial Officer, participated in the plan and acquired 4,596 ordinary shares (2,298 ADSs) at £4.50 per share ($12.563 per ADS).

The purchase of ADSs by certain employees of the Company who are treated as affiliates under U.S. securities laws (including O. James Sterling, Chief Financial Officer) will be settled once certain additional U.S. securities law requirements have been complied with.

An application will be made to the London Stock Exchange for the new Ordinary Shares to be admitted to trading on AIM. It is expected that admission of the 17,652 new Ordinary Shares to trading on AIM will become effective on, or around, 9 March 2021 ("Admission").

Total voting rights
Following Admission, the Company will have 72,047,286 Ordinary Shares in issue with each share carrying the right to one vote. The Company has no Ordinary Shares held in treasury. The total number of voting rights in the Company following Admission will therefore be 72,047,286.

For further information, please contact:

UK Investor Contact:
Walbrook PR Limited	Tel: 020 7933 8780 or renalytix@walbrookpr.com
Paul McManus / Lianne Cawthorne		Mob: 07980 541 893 / 07584 391 303

US Investor Contact:
Gilmartin Group	investors@renalytixai.com
Carrie Mendivil / Mary Kate McDonough		415-937-5405

About Kidney Disease 
Kidney disease is now recognised as a public health epidemic affecting over 850 million people globally. The Centers for Disease Control and Prevention (CDC) estimates that 15% of US adults, or 37 million people, currently have chronic kidney disease (CKD). Further, the CDC reports that 9 out of 10 adults with CKD do not know they have it and 1 out of 2 people with very low kidney function who are not on dialysis do not know they have CKD*. Kidney disease is referred to as a “silent killer” because it often has no symptoms and can go undetected until a very advanced stage. Each year kidney disease kills more people than breast and prostate cancer. Every day, 13 patients in the United States die while waiting for a kidney transplant.

* https://www.cdc.gov/kidneydisease/publications-resources/2019-national-facts.html

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

Notification of dealings in shares by PDMRs of the Company:

1.	Details of PDMR / PDMR Associate
(a)	Name	O. James Sterling
(b)	Position / status	Chief Financial Officer
(c)	Initial notification / amendment	Initial Notification
2.	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
(d)	Description of the financial instrument	Acquisition of Ordinary Shares to be converted to American Depositary Shares
(e)	Nature of the transaction	Acquisition of shares
(f)	Price(s) and volume(s)	Price: £4.50 Volume: 4,596 shares
(g)	Aggregated information Aggregated volume Price	4,596 shares  £20,682
(h)	Date of the transaction	4 March 2021
(i)	Place of the transaction	Outside a trading venue

 

FAQ

What is the significance of the new shares issued by Renalytix AI (RNLX)?

The new shares issued under the ESPP may signal employee engagement but could dilute existing shareholders.

How many shares does Renalytix AI (RNLX) have after the recent issuance?

After the issuance, Renalytix AI will have a total of 72,047,286 ordinary shares.

When will the new shares of Renalytix AI (RNLX) be admitted to trading?

The new shares are expected to be admitted to trading on the London Stock Exchange on or around March 9, 2021.

What was the price per share for the acquisition by the CFO of Renalytix AI (RNLX)?

The CFO acquired shares at a price of £4.50 per share.

How many shares did CFO O. James Sterling acquire in Renalytix AI (RNLX)?

CFO O. James Sterling acquired 4,596 ordinary shares.