21 Jan 2016 07:00
21 January 2016
Cyprotex PLC
("Cyprotex" or the "Company" or the "Group")
Executive Option Scheme
Anthony Baxter and John Dootson ("the Executives") were granted share options on 28th January 2014 in respect of 2,000,000 ordinary shares of 1p each and 16th April 2014 in respect of 333,333 ordinary shares of 1p each respectively ("the Options").
To further align the Executives interests with those of the shareholders, the Company announces today that the Executives will not receive discretionary performance related bonuses in respect of the trading year ended 31 December 2015 thereby preserving cash within the Company, however, the performance condition relating to a minimum share price of 120 pence upon change of control of the Company has been removed from the Options.
For further information:
Cyprotex PLC | Tel: +44 (0) 1625 505 100 |
Dr Anthony Baxter, Chief Executive Officer John Dootson, Chief Financial Officer Mark Warburton, Chief Operating Officer and Legal Counsel | ir@cyprotex.com www.cyprotex.com |
N+1 Singer (Nomad and broker to Cyprotex) | Tel: +44 (0)20 7496 3000 |
Shaun Dobson Jen Boorer
| shaun.dobson@n1singer.com jennifer.boorer@n1singer.com www.n1singer.com |
Notes to Editors:
Cyprotex PLC
Cyprotex islisted on the AIM market of the London Stock Exchange (CRX). It has sites at Macclesfield and Alderley Park, both of which are near Manchester in the UK, and at Watertown, MA and Kalamazoo, MI in the US. The Company was established in 1999 and works with more than 1300 partners within the pharmaceutical and biotech industry, cosmetics and personal care industry and the chemical industry. Cyprotex acquired Apredica and the assets of Cellumen Inc. in August 2010 and the combined business provides support for a wide range of experimental and computational ADME-Tox and PK services. The acquisition of the assets and business of CeeTox in January 2014 has enabled Cyprotex to expand its range of services to target the personal care, cosmetics and chemical industries. In 2015, Cyprotex launched its new bioscience division to expand its capabilities into phenotypic and target based screening. The Company's core capabilities include high quality in vitro ADME screening services, mechanistic toxicology and high content toxicology screening services, including our proprietary CellCiphr® toxicity prediction technology, bioscience services, predictive modelling using PBPK, including Cloe® PK for in vivo PK prediction, and a range of skin, ocular and endocrine disruption services. For more information, see www.cyprotex.com