Last checked at 29 Mar 2019 10:00
E-THERAPEUTICS PLC
("e-therapeutics" or the "Company")
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES
Oxford, UK, 29th of March 2019: e-therapeutics plc (AIM: ETX), the network-driven drug discovery company, announces that on 28th March2019, it granted 2,000,000 options over its ordinary shares of 0.1 pence each under the e-Therapeutics Performance Share Plan 2013 (One-Off Awards 2016) to Raymond Barlow, Chief Executive Officer of the Company at an exercise price of 2.7 pence per share, being equivalent to the closing share price on the day before grant.
One third of the options immediately vest; one-third will vest on the 12 months anniversary of the date of grant; and one-third will vest on the 24 months anniversary of the date of grant. 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, Raymond Barlow holds a total of 9,000,000 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 | 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 |
c) | Price(s) and volume(s) | 2,000,000 options over ordinary shares at an exercise price of 2.7 pence per share
|
d) | Aggregated information - Aggregated volume - Price | N/A |
e) | Date of the transaction | 28th March 2019
|
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/Duncan Monteith (Nominated Adviser) 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, pre-clinical 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 neurodegeneration, 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.