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Summit Therapeutics plc : Director/PDMR Shareholding
April 23, 2018 12:05 ET
Summit Therapeutics plc
Summit Therapeutics plc
Summit Therapeutics plc
('Summit' or the 'Company')
Exercise of Share Options
Oxford, UK, and Cambridge, MA, US, 23 April 2018 - Summit Therapeutics plc (AIM: SUMM, NASDAQ: SMMT), announces the exercise by the following Non-Executive Directors of share options over the Company's ordinary shares of one penny nominal value granted under the Company's 2005 share option scheme. None of the new ordinary shares were sold by the Non-Executive Directors. The exercise of the options is in line with the stated intention of the Non-Executive Directors to advance the Company's objective of meeting best UK corporate governance practice that favours non-performance remuneration, such as restricted stock units.
| Number of Exercised Options | Number of Outstanding Options held | New Total Shareholding | % of Issued Share Capital | ||
| Barry Price | Non-Executive Director | 31,481 | Nil | 107,211 | 0.13% |
| Stephen Davies | Non-Executive Director | 17,500 | Nil | 602,481 | 0.74% |
The admission of these new ordinary shares to trading on AIM is covered by the Company's existing block listing application. Following the exercise of these share options, the total number of options capable of vesting under the Company's 2005 and 2016 share option schemes is now 10,009,284.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (MAR).
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 | ||
| 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 |
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||||
| a) | Name | Dr Barry Price | |||
| 2 | Reason for the notification | ||||
| a) | Position / status | Non-Executive Director | |||
| b) | Initial notification / Amendment | Initial notification | |||
| 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 financial instrument, type of instrument | Ordinary shares of 1 penny each | |||
| Identification code | GB00BN40HZ01 | ||||
| b) | Nature of the transactions | Exercise and hold of share options | |||
| c) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
| 65 pence (exercise price) 126 pence (exercise price) | 13,981 17,500 | ||||
| d) | Aggregated information | ||||
| - Aggregated volume | 31,481 ordinary shares | ||||
| - Price | £31,137.65 (being an average subscription price of 98.9 pence per share) | ||||
| e) | Date of the transaction | 23 April 2018 | |||
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||||
| a) | Name | Professor Stephen Davies | |||
| 2 | Reason for the notification | ||||
| a) | Position / status | Non-Executive Director | |||
| b) | Initial notification / Amendment | Initial notification | |||
| 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 financial instrument, type of instrument | Ordinary shares of 1 penny each | |||
| Identification code | GB00BN40HZ01 | ||||
| b) | Nature of the transactions | Exercise and hold of share options | |||
| c) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
| 126 pence (exercise price) | 17,500 | ||||
| d) | Aggregated information | ||||
| - Aggregated volume | N/A | ||||
| - Price | |||||
| e) | Date of the transaction | 23 April 2018 | |||
| f) | Place of the transaction | Outside a trading venue |