Grant of Share Options to Directors, PDMRs and Employees and Grant of Restricted Stock Units to Non-Executive Directors

Summit Therapeutics plc (AIM:SUMM) (NASDAQ:SMMT), the drug discovery and development company advancing therapies for Duchenne muscular dystrophy and Clostridium difficile infection, announces that the following options over new ordinary shares of 1 penny nominal value (‘Ordinary Shares’) were granted on 24 October 2017 to Directors, PDMRs and employees in line with the Company’s Long Term Incentive Plan. The Company has also made a grant of restricted stock units (‘RSUs’) to the Non-Executive Directors under the Company’s 2017 Remuneration Policy. Details of both grants are summarised below.

Grant of Share Options

Director/PDMR	Position	Options Awarded	Total Options Held
Glyn Edwards	Chief Executive Officer	198,776	2,994,310
Erik Ostrowski	Chief Financial Officer	98,495	1,216,557

These options have an exercise price of 180 pence per share and will vest in full on 24 October 2020 subject to achievement of performance conditions pertaining to corporate and programme development milestones.

Options over 493,727 Ordinary Shares were granted to other employees of the Company. These options have an exercise price of 180 pence per share. They will vest in nine equal tranches on a quarterly basis from 24 October 2018 and will vest in full on 24 October 2020.

Award of Restricted Stock Units

Director	Position	RSU’s Awarded	Total RSUs Held
Frank Armstrong	Non-Exective Chairman	41,666	82,762
Barry Price	Non-Executive Director	19,444	38,623
Stephen Davies	Non-Executive Director	19,444	38,623
Leopoldo Zambeletti	Non-Executive Director	19,444	38,623
Valerie Andrews	Non-Executive Director	19,444	38,623
Dave Wurzer	Non-Executive Director	19,444	38,623

Each RSU entitles the holder to subscribe for an Ordinary Share at a subscription price of 1 penny per Ordinary Share. The RSUs have a vesting period of one year and no performance conditions. The RSU programme is part of the 2017 Remuneration Policy. The RSUs granted will vest on 24 October 2018. 

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 Glyn Edwards / Richard Pye (UK office)Erik Ostrowski / Michelle Avery (US office)	Tel: [phone]  [phone]
Cairn Financial Advisers LLP(Nominated Adviser)Liam Murray / Tony Rawlinson	Tel: [phone]
N+1 Singer (Broker)Aubrey Powell / Lauren Kettle	Tel: [phone]
MacDougall Biomedical Communications(US media contact)Karen Sharma	Tel: [phone] [e-mail]
Consilium Strategic Communications (Financial public relations, UK)Mary-Jane Elliott / Jessica Hodgson / Philippa Gardner / Rosie Philips	Tel: [phone] [e-mail]

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	Mr Glyn Edwards
2	Reason for the notification
a)	Position / status	Chief Executive Officer
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	Grant of share options
c)	Price(s) and volume(s)		Price(s)	Volume(s)
			180 pence per share (exercise price)	198,776
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	24 October 2017
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Mr Erik Ostrowski
2	Reason for the notification
a)	Position / status	Chief Financial Officer
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	Grant of share options
c)	Price(s) and volume(s)		Price(s)	Volume(s)
			180 pence per share (exercise price)	98,495
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	24 October 2017
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Dr Frank Armstrong
2	Reason for the notification
a)	Position / status	Non-Executive Chairman
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	Grant of restricted stock units
c)	Price(s) and volume(s)		Price(s)	Volume(s)
			1 penny per share (subscription price)	41,666
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	24 October 2017
f)	Place of the transaction	Outside a trading venue

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	Grant of restricted stock units
c)	Price(s) and volume(s)		Price(s)	Volume(s)
			1 penny per share (subscription price)	19,444
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	24 October 2017
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	Grant of restricted stock units
c)	Price(s) and volume(s)		Price(s)	Volume(s)
			1 penny per share (subscription price)	19,444
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	24 October 2017
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Mr Leopoldo Zambeletti
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	Grant of restricted stock units
c)	Price(s) and volume(s)		Price(s)	Volume(s)
			1 penny per share (subscription price)	19,444
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	24 October 2017
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Ms Valerie Andrews
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	Grant of restricted stock units
c)	Price(s) and volume(s)		Price(s)	Volume(s)
			1 penny per share (subscription price)	19,444
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	24 October 2017
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Mr Dave Wurzer
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	Grant of restricted stock units
c)	Price(s) and volume(s)		Price(s)	Volume(s)
			1 penny per share (subscription price)	19,444
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	24 October 2017
f)	Place of the transaction	Outside a trading venue

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