Summit Therapeutics plc Summit Therapeutics Plc : Grant Of Share Options
April 12 2017 - 1:00AM
UK Regulatory
TIDMSUMM
Summit Therapeutics plc
("Summit", the "Company", or the "Group")
GRANT OF SHARE OPTIONS TO DIRECTORS/PDMRS
Oxford, UK, 12 April 2017 - Summit Therapeutics plc (AIM: SUMM, NASDAQ:
SMMT), the drug discovery and development company advancing therapies
for Duchenne muscular dystrophy and Clostridium difficile infection,
announces the following option grants over new ordinary shares of 1p
nominal value ('Ordinary Shares') were made on 11 April 2017 to
Directors, PDMRs and employees in line with the Company's Long Term
Incentive Plan.
Mr Glyn Edwards, the Company's Chief Executive Officer, was granted
options over 762,764 Ordinary Shares. These options have an exercise
price of 185 pence per share and will vest in full on 23 June 2019
subject to achievement of performance conditions pertaining to corporate
and programme development milestones. This option award to Glyn Edwards
was due to be made in 2016, during the Company's normal granting cycle,
but was deferred due to insufficient headroom in the Company's Long Term
Incentive Plan.
Dr David Roblin, the Company's Chief Operating Officer and President of
Research and Development, was granted options over 324,324 Ordinary
Shares. These options have an exercise price of 185 pence per share and
will vest in full on 11 April 2020 subject to achievement of performance
conditions pertaining to corporate and programme development milestones.
A further grant of options over 150,436 Ordinary Shares was made to
other employees of the Company. These options will vest in nine equal
tranches on a quarterly basis from 11 April 2018 and will vest in full
on 11 April 2020.
The notifications set out below are provided in accordance with the
requirements of the EU Market Abuse Regulation.
About Summit Therapeutics
Summit is a biopharmaceutical company focused on the discovery,
development and commercialisation of novel medicines for indications for
which there are no existing or only inadequate therapies. Summit is
conducting clinical programs focused on the genetic disease, Duchenne
muscular dystrophy, and the infectious disease, Clostridium difficile
infection. Further information is available at www.summitplc.com and
Summit can be followed on Twitter (@summitplc).
For more information, please contact:
Summit Therapeutics
Glyn Edwards / Richard Pye (UK office) Tel: +44 (0)1235 443 951
Erik Ostrowski / Michelle Avery (US office) +1 617 225 4455
Cairn Financial Advisers LLP
(Nominated Adviser) Tel: +44 (0)20 7213 0880
Liam Murray / Tony Rawlinson
N+1 Singer
(Broker) Tel: +44 (0)20 7496 3000
Aubrey Powell / Lauren Kettle
MacDougall Biomedical Communications
(US media contact) Tel: +1 781 235 3060
Karen Sharma ksharma@macbiocom.com
Consilium Strategic Communications
(Financial public relations, UK) Tel: +44 (0)20 3709 5700
Mary-Jane Elliott / Sue Stuart / summit@consilium-comms.com
Jessica Hodgson / Lindsey Neville
Notification of a Transaction pursuant to Article 19(1) of Regulation
(EU) No. 596/2014
Details of the person discharging managerial responsibilities/person
1 closely associated
a) Name Mr Glyn Edwards
2 Reason for the notification
a) Position / status Chief Executive Officer
Initial notification /
b) Amendment Initial notification
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
a) Name Summit Therapeutics plc
b) LEI 213800NRW8AOMYMTBD89
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
4 where transactions have been conducted
Description of the financial
instrument, type of
a) instrument Ordinary shares of 1 pence each
Identification code GB00BN40HZ01
b) Nature of the transactions Grant of share options
c) Price(s) and volume(s) Price(s) Volume(s)
185 pence per share (exercise price) 762,764
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 11 April 2017
f) Place of the transaction Outside a trading venue
Details of the person discharging managerial responsibilities/person
1 closely associated
a) Name Dr David Roblin
2 Reason for the notification
Chief Operating Officer and
a) Position / status President of Research and Development
Initial notification /
b) Amendment Initial notification
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
a) Name Summit Therapeutics plc
b) LEI 213800NRW8AOMYMTBD89
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
4 where transactions have been conducted
Description of the financial
instrument, type of
a) instrument Ordinary shares of 1 pence each
Identification code GB00BN40HZ01
b) Nature of the transactions Grant of share options
c) Price(s) and volume(s) Price(s) Volume(s)
185 pence per share (exercise price) 324,324
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 11 April 2017
f) Place of the transaction Outside a trading venue
-END-
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Summit Therapeutics plc via Globenewswire
http://www.summitplc.com/
(END) Dow Jones Newswires
April 12, 2017 02:00 ET (06:00 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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