Summit Therapeutics plc Summit Therapeutics Plc : Grant Of Share Options

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