Redx Pharma plc New Grant of Options (6793Q)

TIDMREDX

RNS Number : 6793Q

Redx Pharma plc

01 March 2021

REDX PHARMA PLC

("Redx" or "the Company" or "Redx Pharma")

New Grant of Options

Alderley Park, 1 March 2021 Redx Pharma (AIM:REDX), the drug discovery and development company focused on cancer and fibrosis, announces that further to the announcement made on 27 October 2020, Dr Jane Robertson assumed her new role as Chief Medical Officer on 1 March 2021.

In addition, the Company announces that on 1 March 2021, options over 1,500,000 ordinary shares of 1p each in the share capital of the Company, were granted to Dr Jane Robertson, Chief Medical Officer, under the All employee Share Option scheme, on the following basis:

The options were granted at 66p per share, being the closing price on 26 February 2021.

 
 Name              Position         Number of Options   Vesting Date    Total Options 
                                     Granted                             Held Following 
                                                                         the Grant 
 Jane Robertson    Chief Medical 
  (PDMR)            Officer         100,000             1 March 2022 
                                     100,000             1 March 2023 
                                     100,000             1 March 2024 
                                                         1 March 2024 
                                                          (subject to 
                                                          performance 
                                     1,200,000            conditions)    1,500,000 
 
 

Following the grant referred to above, the Company will have granted options over a total of 31,898,764 Ordinary Shares representing 11.6 per cent. of the share capital in issue. The number of options that may be awarded under the Scheme, and all prior share incentive plans, remains limited such that the aggregate number of Ordinary Shares of 1p each under option will be less than 15 per cent. of the total issued share capital of the Company.

 
 1.   Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)    Name                             Jane Robertson 
     --------------------------------  ------------------------------------- 
 2.   Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status                   Chief Medical Officer 
     --------------------------------  ------------------------------------- 
 b)   Initial notification/Amendment    Initial Notification 
     --------------------------------  ------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name                              Redx Pharma Plc 
     --------------------------------  ------------------------------------- 
 b)   LEI                               213800HMS4EBXO589Y37 
     --------------------------------  ------------------------------------- 
 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      Options over Ordinary Shares of 1p 
       instrument                        each 
     --------------------------------  ------------------------------------- 
 b)   Identification code               ISIN: GB00BSNB6S51 
     --------------------------------  ------------------------------------- 
 c)   Nature of the transactions        Grant of options under the Redx All 
                                         Employee Share Option Scheme 
     --------------------------------  ------------------------------------- 
 d)   Price(s) and volume(s)            Price: 66p pence per share 
                                         Volume: 1,500,000 shares 
     --------------------------------  ------------------------------------- 
 e)   Aggregated information            As for d) above 
       - Aggregated volume 
       - Price 
     --------------------------------  ------------------------------------- 
 f)   Date of the transactions          1 March 2021 
     --------------------------------  ------------------------------------- 
 f)   Place of the transactions         Off-market 
     --------------------------------  ------------------------------------- 
 
 
For further information, please contact: 
 
Redx Pharma Plc                              T: [phone] 
                                              918 
Iain Ross, Chairman 
 Lisa Anson, Chief Executive 
 James Mead, Chief Financial Officer 
 
SPARK Advisory Partners (Nominated Adviser)   T: [phone] 
                                               3550 
Matt Davis/Adam Dawes 
 
WG Partners LLP (Broker)                     T: [phone] 
                                              9330 
Claes Spång/Chris Lee/David Wilson 
 
 
FTI Consulting                               T: [phone] 
                                              1000 
Simon Conway/Ciara Martin 
 
 

About Redx Pharma Plc

Redx Pharma (AIM:REDX) is focused on the discovery and development of novel targeted medicines for the treatment of cancer and fibrotic disease, aiming to progress them to clinical proof of concept. Redx's lead oncology asset, RXC004, is currently in a phase 1 study in patients with advanced malignancies with top line data expected in H1 2021 and the Company's selective ROCK2 inhibitor, RXC007, is expected to enter a phase 1 clinical study in H1 2021.

The Company's core capability of converting medicinal chemistry insights into differentiated and commercially attractive small molecule drug candidates against clinically validated targets has been recognized by others. Over the last three years the company has completed four major preclinical stage deals with AstraZeneca, Jazz Pharmaceuticals and Loxo Oncology (now Eli Lilly).

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March 01, 2021 04:57 ET (09:57 GMT)