Last checked at 3 Jul 2018 14:08
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, 3 July 2018 - e-Therapeutics plc (AIM: ETX), the drug discovery company, announces that on 2 July 2018 Professor Trevor Jones (Non-Executive Director) subscribed for a total of 74,526 new ordinary shares of 0.1p each in the Company (the "New Ordinary Shares") at a price of 7.38 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 January 2018 to 30 June 2018 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 396,247 ordinary shares of 0.1p in the Company, representing approximately 0.15% 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 July 2018. 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 268,605,392. 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) | 74,526 ordinary shares at a price of 7.38 pence per share |
d) | Aggregated information - Aggregated volume - Price
| 74,526 ordinary shares 7.38 pence per share Aggregated value: £5,500.02 |
e) | Date of the transaction | 2 July 2018
|
f) | Place of the transaction | Outside a trading venue |
For further information, please contact:
E-Therapeutics plc Ray Barlow, Chief Executive Officer 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
|
FTI Consulting Simon Conway/Brett Pollard | Tel: +44 (0) 203 727 1000 Email: etherapeutics@fticonsulting.com |
About e-therapeutics
We are an Oxford, UK-based company with a unique and powerful computer-based drug discovery platform and a specialised approach to network biology.
Our novel network-driven methodology allows us to discover new and better drugs in a more efficient and effective way.
We use our highly productive drug Discovery Engine to develop our own IP-protected, preclinical drug discovery programmes which will be of interest to partners looking to acquire or in-license novel and differentiated assets. We are currently developing two programmes in immuno-oncology and have a number of partner-ready projects in areas such as fibrosis and tumour microenvironment.
Because of our novel network-driven drug discovery ("NDD") approach, we believe there is potential to enter into several different types of collaborative partnerships with biotech, pharma and other technology companies to create sustainable mutual value.
About Network-Driven Drug Discovery ("NDD")
e-Therapeutics' proprietary NDD platform comprises a suite of powerful computational tools to augment and interrogate the vast amount of biological information currently available in both public and private databases.
Our NDD platform is founded on sophisticated network science and employs techniques such as machine learning, artificial intelligence and state-of-the-art data analysis tools. Using our biological expertise, we can create and analyse network models of disease to identify likely proteins that could effectively be disrupted to treat the disease.
We believe that our network-driven approach more realistically reflects the true complexity of disease, with its multiple and often interconnected cellular pathways. By modelling and analysing disease networks and considering the pattern of connections between proteins, and not just single pathways, we more efficiently select the very best drug-like compounds for screening and for subsequent medicinal chemistry and pre-clinical testing. With our novel methodology, significant numbers of active molecules can be identified and tested quickly. Our approach is highly productive and consistently generates hits that have been progressed into potent, selective and novel drug molecules.
Our overall aim is to discover more efficacious drugs more effectively. By using more biologically realistic, cell and tissue-based assays we can choose and design compounds that are more likely to translate into better, more clinically efficacious drugs.