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RNS Number : 0295E
e-Therapeutics plc
03 May 2017
 

E-THERAPEUTICS PLC

 

("e-Therapeutics" or the "Company")

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS

DISCHARGING MANAGERIAL RESPONSIBILITIES

 

                                                                                     

Oxford, UK, 3 May 2017 - e-Therapeutics plc (AIM: ETX), the drug discovery company, announces that on 2 May 2017 it granted 5,500,000 options over its ordinary shares of 0.1 pence each to Raymond Barlow, Chief Executive Officer of the Company, in accordance with the terms of Mr Barlow's employment contract. The options were granted under the e-Therapeutics Performance Share Plan in three tranches as follows:

 

2,000,000 share options with an exercise price of 16.76 pence per share (the "A Award");

1,750,000 share options with an exercise price of 20.95 pence per share (the "B Award"); and

1,750,000 share options with an exercise price of 25.14 pence per share (the "C Award")

 

of which 3,174,603 options were granted as Enterprise Management Incentive options, and the balance as unapproved options.

 

Following this grant, Raymond Barlow holds 5,500,000 options over ordinary shares in the Company (the "Options").

The Options vest on the first anniversary from the date of grant in respect of the A Award, on the second anniversary of the date of grant in respect of the B Award, and in equal monthly tranches over a three-year period from the date of grant in respect of the C Award.  Vested Options may not be exercised prior to the second anniversary from the date of grant, but all vested Options remain exercisable up to and including the tenth anniversary of the date of grant, to the extent that the award performance targets applicable to the options have been met.

In the event of a change of control, if not already vested in full, the Options shall vest and become exercisable to the fullest extent possible.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further details:

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Raymond John Barlow

2

Reason for the notification

a)

Position/status 

Chief Executive Officer/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

e-Therapeutics plc 

b)

LEI

21380049RHSSJXWKYT18

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

Identification code 

Ordinary Shares of 0.1 pence

 

ISIN:   GB00B2823H99

b)

Nature of the transaction

Grant of options to acquire shares 

c)

Price(s) and volume(s)

2,000,000 options to acquire ordinary shares at an exercise price of 16.76 pence per share;

1,750,000 options to acquire ordinary shares at an exercise price of 20.95 pence per share; and

 

1,750,000 options to acquire ordinary shares at an exercise price of 25.14 pence per share

 

d)

Aggregated information

- Aggregated volume

- Price

 

N/A

e)

Date of the transaction

2 May 2017

 

f)

Place of the transaction

Outside a trading venue 

 

For further information, please contact:

 

Contacts:

 

e-Therapeutics plc

Iain Ross, Chairman

Steve Medlicott, Finance Director

 

Tel: +44 (0) 1993 883 125

www.etherapeutics.co.uk 

 

Numis Securities Limited

Michael Meade / Freddie Barnfield
(Corporate Finance)

James Black (Corporate Broking)

 

Tel: +44 (0) 207 260 1000

www.numis.com

 

Instinctif Partners

Melanie Toyne Sewell / Alex Shaw

Tel: +44 (0) 207 457 2020

Email: e-therapeutics@instinctif.com

 

About e-Therapeutics plc

e-Therapeutics is a drug discovery company with a unique and proprietary in silico discovery platform.  The Company is applying its computational platform to the discovery of new drug candidates for which it can secure robust intellectual property rights.

The therapeutic focus of the Company's discovery activity is in areas of complex disease with unmet medical need, including immuno-oncology.  The business model is to partner these preclinical drug candidates.

 

e-Therapeutics is headquartered in Oxford. For more information about the Company please visit www.etherapeutics.co.uk.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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