Summit Therapeutics plc Award Of Share Options
30 3월 2019 - 2:45AM
UK Regulatory
TIDMSUMM
Summit Therapeutics plc
('Summit' or the 'Company')
Award of Share Options
Oxford, UK, and Cambridge, MA, US, 29 March 2019 -- Summit Therapeutics
plc (NASDAQ: SMMT, AIM: SUMM), a leader in new mechanism antibiotic
innovation, announces the annual grant of options over new ordinary
shares of one penny nominal value ('Ordinary Shares') on 29 March 2019
to the Chief Executive Officer, PDMRs and other employees in line with
the Company's Long Term Incentive Plan.
Details of the grant to the Chief Executive Officer and the other PDMRs
are summarised below.
Total number of
Director/PDMR Position Options Awarded Options Held
-------------- ---------------------- --------------- ---------------------
Chief Executive
Glyn Edwards Officer 3,000,000 5,785,268
---------------
Chief Operating
Officer, President of
David Roblin R&D 2,000,000 3,539,661
-------------- ---------------------- --------------- ---------------------
Chief Commercial
Daniel Elger Officer 1,500,000 1,923,430
-------------- ---------------------- --------------- ---------------------
All options awarded to the Chief Executive Officer and the other PDMRs
on 29 March 2019 have an exercise price of 27.5 pence per share and will
vest in full on 29 March 2022 subject to achievement of performance
conditions pertaining to corporate and programme development milestones
and continued service to the Company.
In addition, the Company has granted Options over a further 4,896,000
Ordinary Shares to other employees of the Company on the same date.
These options also have an exercise price of 27.5 pence per share. They
will vest in nine equal tranches on a quarterly basis from 29 March 2020
and will vest in full on 29 March 2022, or sooner on the happening of
certain corporate events reflecting the achievement of the Group's
long-term objectives.
The exercise price of 27.5 SHYpence per share for all options granted
was the mid-market closing price of the Ordinary Shares on AIM on 29
March 2019. The maximum number of outstanding share options following
the grants referred to above is 20,418,951 representing approximately
12.7 SHYSHYSHYper cent of the currently issued ordinary share capital of
the Company.
This announcement contains inside information for the purposes of
Article 7 of EU Regulation 596/2014 (MAR).
About Summit Therapeutics
Summit Therapeutics is a leader in antibiotic innovation. Our new
mechanism antibiotics are designed to become the new standards of care
for the benefit of patients, and create value for payors and healthcare
providers. We are currently developing new mechanism antibiotics for C.
difficile infection and gonorrhoea and are using our proprietary Discuva
Platform to expand our pipeline. For more information, visit
www.summitplc.com and follow us on Twitter @summitplc.
Contacts
Summit
Glyn Edwards / Richard Pye (UK office) Tel: 44 (0)1235 443 951
Michelle Avery (US office) +1 617 225 4455
Cairn Financial Advisers LLP (Nominated Adviser) Tel: +44 (0)20 7213 0880
Liam Murray / Tony Rawlinson
1 Details of the persons discharging managerial responsibilities/person
closely associated
--------------------------------------------------------------------------------------------
a) Name
1. Glyn Edwards
2. David Roblin
3. Daniel Elger
---------------------- --------------------------------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------------------
a) Position / status
1. Chief Executive Officer
2. Chief Operating Officer, President of R&D
3. Chief Commercial Officer
---------------------- --------------------------------------------------------------------
b) Initial notification / Initial notification
Amendment
---------------------- --------------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------------
a) Name Summit Therapeutics plc
---------------------- --------------------------------------------------------------------
b) LEI 213800NRW8AOMYMTBD89
---------------------- --------------------------------------------------------------------
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 Ordinary shares of 1 penny each
financial instrument,
type of instrument
Identification code GB00BN40HZ01
---------------------- --------------------------------------------------------------------
b) Nature of the Grant of share options
transactions
---------------------- --------------------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------------------- ----------------------------------------------- ---------------
(i)-(iii) 27.5 pence per share (exercise price) 1. 3,000,000
2. 2,000,000
3. 1,500,000
---------------------- ----------------------------------------------- ---------------
d) Aggregated information
- Aggregated volume 6,500,000 ordinary shares
- Price 27.5 pence per share (exercise price)
---------------------- --------------------------------------------------------------------
e) Date of the 29 March 2019
transactions
---------------------- --------------------------------------------------------------------
f) Place of the Outside a trading venue
transactions
---------------------- --------------------------------------------------------------------
-END-
(END) Dow Jones Newswires
March 29, 2019 13:45 ET (17:45 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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