11 Feb 2020 10:00
E-THERAPEUTICS PLC
("e-therapeutics" or the "Company")
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES
Oxford, UK, 11 February 2020: e-Therapeutics plc (AIM: ETX), the drug discovery company, announces it has granted options over its ordinary shares of 0.1 pence each under the e-Therapeutics Performance Share Plan 2013 (One-Off Awards 2016).
On 11th February 2020, it granted 1,683,333 options in lieu of their directors' fees for the notice periods of six months and three months to which Iain Ross and Christine Soden respectively are entitled under the terms of their appointment. Iain Ross has been granted 1,350,000 options and Christine Soden has been granted 333,333 options. These options are exercisable at 0.1 pence per share and will vest when the Company's share price reaches and remains at 6.0 pence for a period of 30 consecutive days, but shall not become exercisable before 11 August 2020. Following this grant Iain Ross holds a total of 1,350,000 options and Christine Soden holds a total of 333,333 options.
On 11th February 2020, it also agreed to grant 9,672,836 options to Ali Mortazavi, Executive Chairman of the Company at an exercise price of 0.1 pence per share. One eighth of the options will vest every quarter over a two year period but they will not become exercisable unless the share price reaches and remains over 6.0 pence for 30 consecutive days at any time during the two-year period. Vested options will not become exercisable until 24 months after the date of grant except for in the case of a change of control, where all options will vest and become immediately exercisable. Following this grant, Ali Mortazavi holds a total of 9,672,836 options.
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 | Iain Ross |
2 | Reason for the notification | |
a) | Position/status | Chairman (until 10 February 2020) |
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 |
c) | Price(s) and volume(s) | 1,350,000 options over ordinary shares at an exercise price of 0.1 pence per share
|
d) | Aggregated information - Aggregated volume - Price | N/A |
e) | Date of the transaction | 11th February 2020
|
f) | Place of the transaction | Outside a trading venue |
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | Christine Soden |
2 | Reason for the notification | |
a) | Position/status | Non-executive Director (until 10 February 2020) |
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 |
c) | Price(s) and volume(s) | 333,333 options over ordinary shares at an exercise price of 0.1 pence per share
|
d) | Aggregated information - Aggregated volume - Price | N/A |
e) | Date of the transaction | 11th February 2020
|
f) | Place of the transaction | Outside a trading venue |
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | Ali Mortazavi |
2 | Reason for the notification | |
a) | Position/status | Executive Chairman |
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 |
c) | Price(s) and volume(s) | 9,672,836 options over ordinary shares at an exercise price of 0.1 pence per share
|
d) | Aggregated information - Aggregated volume - Price | N/A |
e) | Date of the transaction | 11th February 2020
|
f) | Place of the transaction | Outside a trading venue |
For further information, please contact:
e-therapeutics plc Ali Mortazavi, Executive Chairman | Tel: +44 (0) 1993 883 125 www.etherapeutics.co.uk
|
Numis Securities Limited Freddie Barnfield/Duncan Monteith (Corporate Finance) 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 |