Last checked at 2 Jan 2020 15:28
E-THERAPEUTICS PLC
("e-therapeutics" or the "Company")
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND ISSUE OF EQUITY
Oxford, UK, 2 January 2020 - e-Therapeutics plc (AIM: ETX), the drug discovery company, announces that on 2 January 2020 Professor Trevor Jones (Non-Executive Director) subscribed for a total of 177,404 new ordinary shares of 0.1p each in the Company (the "New Ordinary Shares") at a price of 3.10 pence per share. The subscription monies paid for the New Ordinary Shares represent 50% of Professor Jones' Non-Executive Director fees net of tax paid during the period from 1 July 2019 to 31 December 2019 in accordance with the agreement entered into with Professor Jones, previously announced on 5 October 2016, by which Professor Jones agreed, with effect from 1 October 2016, to invest 50% of his annual Non-Executive Director fees net of tax in new e-therapeutics' ordinary shares. Such new shares are issued to Professor Jones on the first business day after 31 December and 30 June in each year. The subscription price to be paid is the average of the closing mid-market price for the five business days prior to the date of issue.
Following Admission, Professor Jones will be interested in a total of 916,353 ordinary shares of 0.1p in the Company, representing approximately 0.34% of the Company's issued share capital.
Application has been made to AIM for the admission of the New Ordinary Shares to trading on AIM ("Admission") and Admission is expected to occur on 10 January 2020. The New Ordinary Shares will rank pari passu in all respects with the Company's existing ordinary shares in issue.
Following Admission, the total number of ordinary shares in the Company with voting rights in issue will be 269,125,498. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
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 | Trevor Jones |
2 | Reason for the notification | |
a) | Position/status | Non-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 | Purchase of shares |
c) | Price(s) and volume(s) | 177,404 ordinary shares at a price of 3.10 pence per share |
d) | Aggregated information - Aggregated volume - Price
| 177,404 ordinary shares 3.10 pence per share Aggregated value: £5,499.54 |
e) | Date of the transaction | 2 January 2020
|
f) | Place of the transaction | Outside a trading venue |
For further information, please contact:
e-therapeutics plc Ray Barlow, Chief Executive Officer Steve Medlicott, Chief Financial Officer
| Tel: +44 (0) 1993 883 125 www.etherapeutics.co.uk
|
Numis Securities Limited Freddie Barnfield/Duncan Monteith(Nominated Adviser) James Black (Corporate Broking)
| Tel: +44 (0) 207 260 1000 www.numis.com
|
FTI Consulting Simon Conway | Tel: +44 (0) 203 727 1000 Email: etherapeutics@fticonsulting.com |
About e-therapeutics
e-therapeutics is an Oxford, UK-based company with a unique and powerful computer-based approach to drug discovery, founded on our industry-leading expertise in network biology.
We have created two proprietary, unique and productive technology platforms. The first is our proprietary Network-Driven Drug Discovery ("NDD") platform, which is based on sophisticated network science and employs techniques such as machine learning, artificial intelligence ("AI") and state-of-the-art data analysis tools. NDD allows the more efficient discovery of new and better drugs and has been validated in multiple and diverse areas of biology.
The second is our Genome Associated Network Interactions ("GAINs") platform. GAINs is a revolutionary and entirely novel approach to functional genomics, based on the same validated network biology and analytics expertise that underpins our NDD technologies. GAINs analyses human genetic data to allow a deep and valuable understanding about the mechanisms that cause disease. GAINs has the potential to uncover unrecognised disease processes and pathways and can enable the discovery of novel drugs, diagnostics and biomarkers in a way not previously possible from population genomics data, such as genome-wide association studies ("GWAS").
We use our highly productive drug discovery engine to develop our own IP-protected, pre-clinical drug discovery programmes, particularly appealing to partners looking to acquire or in-license novel and differentiated assets. We are currently developing two programmes in immuno-oncology in-house and have a number of partner-ready projects in areas including fibrosis and the tumour microenvironment.
We have partnerships with Novo Nordisk in Type-2 diabetes and a US-based, top 5 pharmaceutical company in neurodegeneration. We are working on different types of collaborative partnerships with biotech, pharma and other technology companies to create sustainable mutual value.