OKYO Pharma Ltd 6-K, filed Mar 15, 2023
OKYO Pharma Ltd (OKYO)
About this 6-K
OKYO Pharma Ltd filed this 6-K on March 15, 2023.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
March 2023
Commission File Number: 001-41386
OKYO Pharma LTD
(Exact Name of Registrant as Specified in Its Charter)
9th Floor
107 Cheapside
London
EC2V 6DN
(Address of registrant’s principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K
On March 15, 2023, OKYO Pharma LTD (the “Company”) issued this 6K announcing that the board of directors of the Company (the “Board” or “Directors”), acting on a recommendation of the Remuneration Committee has awarded the following options (each to acquire one new ordinary share of no par value) (“Options”) to directors and persons discharging managerial responsibility, a copy of which is furnished as Exhibit 99.1
The Announcement is furnished herewith as Exhibit 99.1 to this Report on Form 6-K. The information in the attached Exhibits 99.1 is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, except as otherwise set forth herein or as shall be expressly set forth by specific reference in such a filing.
| 2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| OKYO Pharma LTD | ||
| Date: March 15, 2023 | By: | /s/ Keeren Shah |
| Name: | Keeren Shah | |
| Title: | Chief Financial Officer | |
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EXHIBIT INDEX
| Exhibit No. | Description | |
| 99.1 | News Announcement, dated March 15, 2023 |
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Exhibit 99.1
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIIONS (SI 2019/310) (“UK MAR”).
OKYO Pharma Limited
(“OKYO” or the “Company”)
Grant of options –PDMR dealing
London, March 15, 2023 – OKYO Pharma Limited (Nasdaq: OKYO; LSE: OKYO) (“OKYO” or the “Company”), an ophthalmology-focused bio-pharmaceutical company which is developing OK-101 to treat dry eye disease (“DED”) to address the significant unmet need in this multi-billion-dollar market, today announces that the board of directors of the Company (the “Board” or “Directors”), acting on a recommendation of the Remuneration Committee has awarded the following options (each to acquire one new ordinary share of no par value) (“Options”) to directors and persons discharging managerial responsibility:
| Gary S. Jacob | Chief Executive Officer | 5,500,000 Options |
| Keeren Shah | Chief Financial Officer | 6,550,000 Options |
| Dr. Raj Patil | Chief Scientific Officer | 15,500,000 Options |
| Willy Simon | Non-executive director | 400,000 Options |
| John Brancaccio | Non-executive director | 1,000,000 Options |
| Bernard Denoyer | Non-executive director | 200,000 Options |
The exercise price for all options is £0.025 per share. The options all vest in 4 equal tranches over 4 years, with the first tranche vesting on 14 March 2024, and all options have a life of ten years.
Holders of the Company’s ADS should note that for the purposes of comparison of the quantum of the awards, each ADS held represents 65 ordinary shares.
This information set out below is provided in accordance with Article 19(3) of UK MAR:
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | PDMRs: |
| Gary S. Jacob | Chief Executive Officer | ||
| Keeren Shah | Chief Financial Officer | ||
Dr. Raj Patil |
Chief Scientific Officer | ||
| Willy Simon | Non-executive director | ||
| John Brancaccio | Non-executive director | ||
| Bernard Denoyer | Non-executive director |
| 2 | Reason for the notification | |
| a) | Position/status | See 1a) above |
b) |
Initial notification /Amendment | Initial notification |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| 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, type of instrument |
Ordinary Shares of no par value |
| b) | Identification code | ISIN for OKYO Pharma Limited: GG00BD3FV870 |
| c) | Nature of the transaction | Grant of options |
| d) | Price(s) and volume(s) | Price: £0.025 per share
Volumes: |
| Gary S. Jacob | 5,500,000 | ||
| Keeren Shah | 6,550,000 | ||
Dr. Raj Patil Willy Simon John Brancaccio Bernard Denoyer |
15,500,000 400,000 1,000,000 200,000 |
| e) | Aggregated information - Aggregated volume - Price |
n/a |
| f) | Date of the transaction | 14 March 2023 |
| g) | Place of the transaction | Outside of a trading venue |
For the purposes of UK MAR, the person who arranged the release of this information is Gary S. Jacob, Chief Executive Officer of OKYO.
Enquiries:
| OKYO Pharma Limited | Gary S. Jacob, Chief Executive Officer | +44 (0)20 7495 2379 | ||
| Investor Relations | Paul Spencer | +44 (0)20 7495 2379 | ||
| Broker | Robert Emmet, Optiva Securities Limited | +44 (0)20 3981 4173 |
Notes for Editors:
About OKYO
OK-101 is a lipid conjugated chemerin peptide agonist of the ChemR23 G-protein coupled receptor which is typically found on immune cells of the eye responsible for the inflammatory response. OK-101 has been shown to produce anti-inflammatory and neuropathic pain-reducing activities in mouse models of DED and corneal neuropathic pain, respectively, and is designed to combat washout through the inclusion of the lipid ‘anchor’ contained in the drug molecule to enhance the residence time of OK-101 within the ocular environment.
About OKYO
OKYO Pharma Limited (LSE: OKYO; NASDAQ: OKYO) is a life sciences company admitted to listing on NASDAQ and 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. For further information, please visit www.okyopharma.com.