Last checked at 24 Nov 2017 13:32
24 NOVEMBER 2017 |
ImmuPharma PLC
("ImmuPharma" or the "Company")
Grant of Options
ImmuPharma PLC (LSE:IMM), ("ImmuPharma" or the "Company"), the specialist drug discovery and development company, announces the approval of the grant of options over a total of 7,875,000 ordinary shares of 10p each in the Company ("Ordinary Shares") to certain of its Directors, non-executive Directors, employees and consultants representing 5.26% of ImmuPharma's Ordinary Shares and total voting rights on a fully diluted basis (the "Options").
The exercise price for the Options is 98.62 pence being the closing middle market share price on 23 November 2017. The Options will vest subject to certain conditions after three years and are exercisable between three and ten years from the date of grant.
Options granted to Executive Directors and employees
Upon the recommendation of the Company's remuneration committee, the Company has granted 4,875,000 of the Options to the Company's Executive Directors and certain other employees pursuant to the Company's Share Option Plan which was adopted on 30 March 2017 (the "2017 Plan"). The amount of Options granted on 24 November 2017 to the Executive Directors is summarised in the following table:
Director | Ordinary Shares under Option |
Dimitri Dimitriou | 1,500,000 |
Robert Zimmer | 1,875,000* |
*includes 375,000 Options granted to Elisabeth Zimmer, Robert Zimmer's wife, who is also an employee of the Company.
Messrs Dimitriou and Zimmer currently have the following interests in issued Ordinary Shares:
Director | Number of Ordinary Shares | % of issued share capital at 24 November 2017 |
Dimitri Dimitriou | 3,567,430 | 2.69 |
Robert Zimmer | 25,344,514* | 19.12 |
*includes 792,961 shares held by Elisabeth Zimmer, Robert Zimmer's wife, who is also an employee of the Company.
Following the grant of the options referred to above, Messrs Dimitriou and Zimmer will have the following interests in share options in the Company:
Director | Number of options | Exercise Price | Expiry Date |
Dimitri Dimitriou | 140,000 1,000,000 1,500,000 | 86.50p 50.25p 98.62p | 04.02.2019 30.03.2027 24.11.2027 |
Robert Zimmer | 200,000* 50,000* 100,000* 1,250,000* 1,875,000* | 86.50p 90.75p 43.88p 50.25p 98.62p | 04.02.2019 24.11.2021 02.06.2026 30.03.2027 24.11.2027 |
*includes options granted to Elisabeth Zimmer, Robert Zimmer's wife, who is also an employee of the Company
Following this grant of Options summarised above, the total number of share options outstanding pursuant to the 2017 Plan will be 8,125,000 representing 6.15% of ImmuPharma's Ordinary Shares and total voting rights on a fully diluted basis. 2,005,000 Options remain outstanding pursuant to the Company's previous share option plan. Together, there are 10,130,000 Options outstanding representing 7.64% of ImmuPharma's Ordinary Shares and total voting rights on a fully diluted basis.
Options granted to Non-executive Directors
The Company has also granted certain Options to Non-executive Directors as summarised in the following table:
Director | Ordinary Shares under Option |
Tim McCarthy | 1,500,000 |
Franco di Muzio | 300,000 |
Stephane Mery | 300,000 |
Messrs McCarthy, di Muzio and Mery currently have the following interests in issued Ordinary Shares:
Director | Number of Ordinary Shares | % of issued share capital at 23 November 2017 |
Tim McCarthy | 38,462 | 0.03% |
Franco di Muzio | 99,412 | 0.08% |
Stephane Mery | 21,490 | 0.02% |
Following the grant of the Options referred to above, Messrs McCarthy, di Muzio and Mery will have the following interests in options over the Company's Ordinary Shares:
Director | Number of Ordinary Shares under Option | Exercise Price | Expiry Date |
Tim McCarthy | 500,000 1,000,000 1,500,000 | 43.88p 56.75p 98.62p | 02.06.2026 12.07.2027 24.11.2027 |
Franco di Muzio | 100,000 100,000 200,000 300,000 | 86.50p 43.88p 56.75p 98.62p | 04.02.2019 02.06.2026 12.07.2027 24.11.2027 |
Stephane Mery | 100,000 200,000 300,000 | 43.88p 56.75p 98.62p | 02.06.2026 12.07.2027 24.11.2027 |
Total Share Options
As stated above, the total options outstanding under both the 2017 Plan and the Company's previous share option plan is 10,130,000, representing 7.64% of ImmuPharma's Ordinary Shares and total voting rights on a fully diluted basis. The total options outstanding that have been granted to non-employees and consultants is 5,185,000. The total warrants outstanding is 153,850. Taken altogether, there are currently 15,468,850 outstanding options and warrants, representing 11.67% of ImmuPharma's Ordinary Shares and total voting rights on a fully diluted basis.
This announcement contains inside information for the purpose of Article 7 of Regulation (EU) 596/2014.
Ends
For further information, please contact:
ImmuPharma plc (www.immupharma.co.uk) | |
Tim McCarthy, Chairman Lisa Baderoon, Head of Investor Relations Twitter: @immupharma
| +44 (0) 20 7152 4080 +44 (0) 7721 413496 |
Northland Capital Partners Limited (NOMAD & Broker) Patrick Claridge, Corporate Finance David Hignell, Corporate Finance Jamie Spotswood, Corporate Finance Rob Rees, Corporate Broking | +44 (0) 20 3861 6625 |