22 February 2024
Incanthera plc
("Incanthera" or the
"Company")
Grant of Options
Incanthera plc, the specialist company focused
on dermatology and oncology announces the grant of 3,200,000
options, on 21 February 2024, to directors, senior management and
employees under both its approved and unapproved share option
schemes (the "Schemes") as follows:
|
Option holder (scheme)
|
Number of Options
granted
|
Exercise Price
|
Options Granted as Percentage of Current
Issued Share Capital
|
|
Tim McCarthy
(Approved)
|
650,000
|
8.75p
|
0.71%
|
|
Simon Ward
(Approved)
|
650,000
|
8.75p
|
0.71%
|
|
Suzanne Brocks
(Approved)
|
650,000
|
8.75p
|
0.71%
|
|
Laura Brogden
(Unapproved)
|
650,000
|
8.75p
|
0.71%
|
|
Caroline Murray
(Unapproved)
|
200,000
|
8.75p
|
0.22%
|
Option Schemes
and Grant of Options
The Company adopted the Schemes in 2020, to
incentivise management performance for the benefit of all
shareholders by way of options which are subject to time and
performance conditions.
For the purposes of the Schemes, a maximum of
10 per cent. of the Company's issued share capital in aggregate,
from time to time, may be issued.
Vesting criteria for options granted under the
Schemes are subject to time and performance conditions as
follows:
|
Amount
Vesting
|
Time
Condition
|
|
34 per cent. ("Tranche One")
|
On the first anniversary of the date of the
grant
|
|
33 per cent. ("Tranche two")
|
On the second anniversary of the date of the
grant
|
|
33 per cent. ("Tranche three")
|
On the third anniversary of the date of the
grant
|
Performance
Condition: Posting of First revenues from
a commercial deal
The Schemes provide for good/bad leaver
provisions and other standard terms normally associated with such
schemes.
Following the grant of options above, the
Company will have in total outstanding options over 9,175,000
ordinary shares, representing 9.96 per cent. of the Company's
issued share capital. The issued share capital of the Company
comprises 92,109,880 ordinary shares.
This
announcement contains inside information for the purposes of
Article 7 of EU Regulation 596/2014 (which forms part of domestic
UK law pursuant to the European Union (Withdrawal) Act
2018).
For
further information, please contact:
|
1.
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
|
Name
|
|
|
|
1. Tim
McCarthy
|
Chairman
|
|
2. Simon
Ward
|
CEO
|
|
3. Caroline
Murray
|
Director
|
|
|
|
|
|
2.
|
Reason for the
notification
|
|
a)
|
Position/status
|
As above
|
|
b)
|
Initial notification/Amendment
|
Initial Notification
|
|
3.
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
a)
|
Name
|
Incanthera plc
|
|
b)
|
LEI
|
2138002HEV4UFBOEXQ97
|
|
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
|
Options over ordinary shares
|
|
b)
|
Identification code
|
GB00BGL7YW15
|
|
c)
|
Nature of the transactions
|
Grant of Options
|
|
d)
|
Volumes and Prices
|
|
Volume
|
Price
|
|
1.
650,000
|
8.75p
|
|
2. 650,000
|
8.75p
|
|
3. 200,000
|
8.75p
|
|
|
e)
|
Aggregated information
- Aggregated
volume
- Price
|
|
Volume
|
Prices
|
|
1,500,000
|
8.75p
|
|
|
f)
|
Date of the transactions
|
21 February 2024
|
|
g)
|
Place of the transactions
|
AQSE Growth Market, UK
|
Notes to Editors
About Incanthera plc
Incanthera is a specialist company
focused on innovative technologies in dermatology and
oncology. It seeks to identify and develop innovative solutions to
current clinical, commercially relevant unmet needs, utilising new
technology from leading specialists and academic institutions as
well as its in-house development team.
The Company originated from
the Institute of Cancer Therapeutics ("ICT") at
the University of Bradford. Incanthera's strategy
is to develop each candidate in its portfolio from initial
acquisition or discovery to securing its future through
commercially valuable partnerships at the earliest opportunity in
its development pathway.
For more information on the Company
please visit: www.incanthera.com
@incantheraplc