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Share Name Share Symbol Market Type Share ISIN Share Description
Summit Corporation LSE:SUMM London Ordinary Share GB00BN40HZ01 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 23.50p 23.00p 24.00p 23.50p 23.50p 23.50p 12,415 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 25.4 -10.9 -10.6 - 37.69

Summit Therapeutics plc Award Of Restricted Stock Units

14/01/2019 12:00pm

UK Regulatory (RNS & others)


 
TIDMSUMM 
 
   Summit Therapeutics plc 
 
   ("Summit Therapeutics" or the "Company") 
 
   Award of Restricted Stock Units 
 
   Oxford, UK, and Cambridge, MA, US, 14 January 2019 - Summit Therapeutics 
(AIM: SUMM, NASDAQ: SMMT), a leader in antibiotic innovation, announces 
a grant of restricted stock units ('RSUs') was made to the Non-Executive 
Directors on 11 January 2019. This grant is made according to the 
Company's 2017 Remuneration Policy and represents the annual grant of 
RSUs to the Company's Non-Executive Directors for the calendar year 
2019. Details of the RSU grant are summarised below. 
 
   The Company also announces that its Non-Executive Chairman, Dr Frank 
Armstrong, has surrendered 37,500 share options. The surrendered share 
options were awarded in July 2014 and vested in March 2017. The decision 
to surrender is part of the Company's objective of meeting best UK 
corporate governance practice that favours non-performance remuneration 
such as RSUs.  As a result of this surrender, none of the Non-Executive 
Directors now hold any share options, with any outstanding awards having 
been surrendered during the current financial year. 
 
   Details of the Award of Restricted Stock Units 
 
 
 
 
Director              Position                 RSU's Awarded  Total RSUs Held 
--------------------  -----------------------  -------------  --------------- 
Frank Armstrong       Non-Executive Chairman         288,461          325,046 
--------------------  -----------------------  -------------  --------------- 
Leopoldo Zambeletti   Non-Executive Director         134,615          151,688 
--------------------  -----------------------  -------------  --------------- 
Valerie Andrews       Non-Executive Director         134,615          151,688 
--------------------  -----------------------  -------------  --------------- 
Dave Wurzer           Non-Executive Director         134,615          151,688 
--------------------  -----------------------  -------------  --------------- 
 
 
   Each RSU entitles the holder to subscribe for an Ordinary Share at a 
subscription price of one penny per Ordinary Share. The RSUs have a 
vesting period of one year and no performance conditions. The RSUs 
granted will vest on 11 January 2020. 
 
   This announcement contains inside information for the purposes of 
Article 7 of EU Regulation 596/2014 (MAR). 
 
   About Summit Therapeutics 
 
   Summit Therapeutics is a leader in antibiotic innovation. Our new 
mechanism antibiotics are designed to become the new standards of care 
for the benefit of patients and create value for payors and healthcare 
providers. We are currently developing new mechanism antibiotics for 
infections caused by C. difficile, N. Gonorrhoeae and ESKAPE pathogens 
and are using our proprietary Discuva Platform to expand our pipeline. 
For more information, visit www.summitplc.com and follow us on Twitter 
@summitplc. 
 
   For more information, please contact: 
 
 
 
 
Summit 
Glyn Edwards / Richard Pye (UK office)          Tel:             +44 (/0)1235 443 951 
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 (Joint Broker)                       Tel:              +44 (0)20 7496 3000 
Aubrey Powell / Jen Boorer, Corporate Finance 
 Tom Salvesen, Corporate Broking 
 
Bryan Garnier & Co Limited (Joint Broker)       Tel:              +44 (0)20 7332 2500 
Phil Walker / Dominic Wilson 
 
MSL Group (US)                                  Tel:                  +1 781 684 6557 
                                                           mailto:summit@mslgroup.com 
Jon Siegal                                                        summit@mslgroup.com 
                                                       ------------------------------ 
 
Consilium Strategic Communications (UK)         Tel:              +44 (0)20 3709 5700 
Mary-Jane Elliott / Sue Stuart / Jessica Hodgson /     mailto:summit@consilium-comms. 
                                                       com 
                                                       summit@consilium-comms.com 
                                                       ------------------------------ 
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                           Dr Frank Armstrong 
---  -----------------------------  ---------------------------------------------- 
2    Reason for the notification 
---  ----------------------------------------------------------------------------- 
a)   Position / status              Non-Executive Chairman 
---  -----------------------------  ---------------------------------------------- 
     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 
     instrument                     Ordinary shares of 1 penny each 
--- 
 
a)   Identification code            GB00BN40HZ01 
---  -----------------------------  ---------------------------------------------- 
b)   Nature of the transactions     Grant of restricted stock units 
---  -----------------------------  ---------------------------------------------- 
                                     Price(s)                         Volume(s) 
---  -----------------------------   ------------------------------  ----------- 
   1 penny per share (subscription price)                                288,461 
   ----------------------------------------------------------------  ----------- 
c)   Price(s) and volume(s) 
---  --------------------------------------------------------------  ------------- 
 Aggregated information 
 
 - Aggregated volume            N/A 
d)   - Price 
---  --------------------------------------------------------------  ------------- 
e)   Date of the transaction        11 January 2019 
---  -----------------------------  ---------------------------------------------- 
f)   Place of the transaction       Outside a trading venue 
---  -----------------------------  ---------------------------------------------- 
 
 
 
 
 
 
     Details of the person discharging managerial responsibilities/person 
1     closely associated 
---  ----------------------------------------------------------------------------- 
a)   Name                           Leopoldo Zambeletti 
---  -----------------------------  ---------------------------------------------- 
2    Reason for the notification 
---  ----------------------------------------------------------------------------- 
a)   Position / status              Non-Executive Director 
---  -----------------------------  ---------------------------------------------- 
     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 
     instrument                     Ordinary shares of 1 penny each 
--- 
 
a)   Identification code            GB00BN40HZ01 
---  -----------------------------  ---------------------------------------------- 
b)   Nature of the transactions     Grant of restricted stock units 
---  -----------------------------  ---------------------------------------------- 
                                     Price(s)                         Volume(s) 
---  -----------------------------   ------------------------------  ----------- 
   1 penny per share (subscription price)                                134,615 
   ----------------------------------------------------------------  ----------- 
c)   Price(s) and volume(s) 
---  --------------------------------------------------------------  ------------- 
 Aggregated information 
 
 - Aggregated volume            N/A 
d)   - Price 
---  --------------------------------------------------------------  ------------- 
e)   Date of the transaction        11 January 2019 
---  -----------------------------  ---------------------------------------------- 
f)   Place of the transaction       Outside a trading venue 
---  -----------------------------  ---------------------------------------------- 
 
 
 
 
 
 
     Details of the person discharging managerial responsibilities/person 
1     closely associated 
---  ----------------------------------------------------------------------------- 
a)   Name                           Valerie Andrews 
---  -----------------------------  ---------------------------------------------- 
2    Reason for the notification 
---  ----------------------------------------------------------------------------- 
a)   Position / status              Non-Executive Director 
---  -----------------------------  ---------------------------------------------- 
     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 
     instrument                     Ordinary shares of 1 penny each 
--- 
 
a)   Identification code            GB00BN40HZ01 
---  -----------------------------  ---------------------------------------------- 
b)   Nature of the transactions     Grant of restricted stock units 
---  -----------------------------  ---------------------------------------------- 
                                     Price(s)                         Volume(s) 
---  -----------------------------   ------------------------------  ----------- 
   1 penny per share (subscription price)                                134,615 
   ----------------------------------------------------------------  ----------- 
c)   Price(s) and volume(s) 
---  --------------------------------------------------------------  ------------- 
 Aggregated information 
 
 - Aggregated volume            N/A 
d)   - Price 
---  --------------------------------------------------------------  ------------- 
e)   Date of the transaction        11 January 2019 
---  -----------------------------  ---------------------------------------------- 
f)   Place of the transaction       Outside a trading venue 
---  -----------------------------  ---------------------------------------------- 
 
 
 
 
 
 
     Details of the person discharging managerial responsibilities/person 
1     closely associated 
---  ----------------------------------------------------------------------------- 
a)   Name                           Dave Wurzer 
---  -----------------------------  ---------------------------------------------- 
2    Reason for the notification 
---  ----------------------------------------------------------------------------- 
a)   Position / status              Non-Executive Director 
---  -----------------------------  ---------------------------------------------- 
     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 
     instrument                     Ordinary shares of 1 penny each 
--- 
 
a)   Identification code            GB00BN40HZ01 
---  -----------------------------  ---------------------------------------------- 
b)   Nature of the transactions     Grant of restricted stock units 
---  -----------------------------  ---------------------------------------------- 
                                     Price(s)                         Volume(s) 
---  -----------------------------   ------------------------------  ----------- 
   1 penny per share (subscription price)                                134,615 
   ----------------------------------------------------------------  ----------- 
c)   Price(s) and volume(s) 
---  --------------------------------------------------------------  ------------- 
 Aggregated information 
 
 - Aggregated volume            N/A 
d)   - Price 
---  --------------------------------------------------------------  ------------- 
e)   Date of the transaction        11 January 2019 
---  -----------------------------  ---------------------------------------------- 
f)   Place of the transaction       Outside a trading venue 
---  -----------------------------  ---------------------------------------------- 
 
 
   -END- 
 
 
 
 

(END) Dow Jones Newswires

January 14, 2019 07:00 ET (12:00 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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