|[December 24, 2013]
Medgenics Announces Director Enters into Stock Trading Plan and Change of Adviser
MISGAV, Israel & WAYNE, Pa. --(Business Wire)--
Medgenics, Inc. (NYSE MKT: MDGN and AIM: MEDU, MEDG) (the
Company), 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 23 December 2013,
Dr. Andrew L. Pearlman, founder and a director, has established a
personal stock trading plan in accordance both with 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.
Rule 10b5-1 plans permit directors, officers and other company insiders
to adopt, at times when they are not in possession of material,
non-public information, written plans for trading securities in a
non-discretionary, pre-scheduled manner in the future. These pre-planned
trades can then be executed at a later date, as spelled out in the plan,
without further action by the directr, officer or other company insider
and without regard to any subsequent non-public information the
individual might have received. Such plans also allow insiders to
diversify their holdings and to minimize the market effect of stock
sales by spreading them out over time.
Commencing on December 23, 2013, Dr. Pearlman's plan provides for the
exercise and sale of up to 262,806 stock options over a period of
approximately nine months. The stock is being sold for personal
financial planning purposes including the payment of taxes in connection
with the exercise of stock options.
The transactions under the plan will be disclosed publicly through Form
144 and Form 4 filings as required by the U.S. Securities and Exchange
Commission and in the UK through a Regulatory Information Service.
The Company also announces that, Oriel Securities has been appointed to
act as sole broker to the Company and remains as its Nominated Adviser.
The Company has concluded its joint broker relationship with SVS
Securities plc who is thanked for their support over the last several
This announcement is being made pursuant to the London Stock Exchange's
AIM Rules for Companies admitted to trading on the AIM market.
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.
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