6 Oct 2020 07:00
Evgen Pharma plc
("Evgen" or the "Company")
Grant of Options
Evgen Pharma plc (AIM: EVG), a clinical stage drug development company focused on the treatment of cancer and neurological conditions, announces that, on 5 October 2020, certain employees and directors of the Company, including the following Persons Discharging Managerial Responsibility ("PDMR"), were granted nil cost options (the "Options") over a total of 4,387,547 ordinary shares in the Company exercisable, subject to the Options vesting, for a period of up to 10 years from the date of grant and governed by the rules of the Evgen Pharma plc Long Term Incentive Plan ("LTIP").
PDMR | Position | Options granted |
Dr Huw Jones | Chief Executive Officer | 2,978,004
|
Richard Moulson | Chief Financial Officer | 337,817
|
The Options will vest on the third anniversary of grant, and other than 1,489,002 Options awarded to Dr Jones on joining the Company and vesting if performance is satisfactory, are subject to performance based on a combination of total shareholder return ("TSR") measured against an index of comparator companies (70%), and performance against strategic corporate objectives over three years (30%). The minimum TSR from the grant date to the vesting date for any of the Options to vest is median performance against the index. Re-testing of this performance condition after the vesting date is not permitted.
Following this award there are 7,478,376 options in issue, representing 5.48% of the Company's issued share capital.
Enquiries:
Evgen Pharma plc www.evgen.com | via Walbrook | |
Barry Clare, Chairman | ||
Richard Moulson, CFO | ||
finnCap www.finncap.com | +44 (0)20 7220 0500 | |
Geoff Nash / Teddy Whiley (Corporate Finance) | ||
Alice Lane (ECM) | ||
Walbrook PR | +44 (0)20 7933 87870 or evgen@walbrookpr.com | |
Paul McManus / Anna Dunphy | +44 (0)7980 541 893 / +44 (0)7876 741 001 | |
Notes for editors:
About Evgen Pharma plc
Evgen Pharma is a clinical stage drug development company whose lead programmes are in breast cancer and subarachnoid haemorrhage, a type of stroke. The Company's core technology is Sulforadex®, a method for synthesising and stabilising the naturally occurring compound sulforaphane and novel proprietary analogues based on sulforaphane. The lead product, SFX-01, is a patented composition of synthetic sulforaphane and alpha-cyclodextrin.
Evgen Pharma commenced operations in January 2008 and has its headquarters at The Colony, Wilmslow, Cheshire, and its registered office is at the Liverpool Science Park, Liverpool. It joined the AIM market of the London Stock Exchange in October 2015 and trades under the ticker symbol EVG.
For further information, please visit: www.evgen.com
For commissioned research on the Company, please visit: http://evgen.com/investors/analyst-coverage/
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Dr Huw Jones | |
2 | Reason for the notification | ||
a) | Position/status | Chief Executive | |
b) | Initial notification /Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Evgen Pharma Plc | |
b) | Legal Entity Identifier | 213800NO3E6TSTQO8K20
| |
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 | Options over ordinary shares of 0.25 pence each GB00BSWYN304
| |
b) | Nature of the transaction | Grant of options | |
c) | Currency | GBP | |
d) | Price(s) and volume(s) | Price(s) | Volume(s) |
nil | 2,978,004
| ||
e) | Aggregated information - Aggregated volume - Price - Aggregated total |
| |
f) | Date of the transaction | 2 October 2020 | |
g) | Place of the transaction | London Stock Exchange, AIM | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Richard Moulson | |
2 | Reason for the notification | ||
a) | Position/status | Chief Financial Officer | |
b) | Initial notification /Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Evgen Pharma plc | |
b) | Legal Entity Identifier | 213800NO3E6TSTQO8K20
| |
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 | Options over ordinary shares of 0.25 pence each
GB00BSWYN304
| |
b) | Nature of the transaction | Grant of options | |
c) | Currency | GBP | |
d) | Price(s) and volume(s) | Price(s) | Volume(s) |
nil | 337,817 | ||
e) | Aggregated information - Aggregated volume - Price - Aggregated total |
| |
f) | Date of the transaction | 2 October 2020 | |
g) | Place of the transaction | London Stock Exchange, AIM | |