Last checked at 4 Dec 2009 15:18
| (AIM: SAR) | 4 December 2009 |
SAREUM HOLDINGS PLC
("Sareum" or the "Company")
Issue of Options
The Company announces that it has granted the following share options (the "Options") to Tim Mitchell (Chief Executive Officer) and John Reader (Chief Scientific Officer) (together, the "Directors");
| Number of options | |
| Tim Mitchell | 6,400,000 |
| John Reader | 6,400,000 |
The Options have been granted with an exercise price of 0.25 pence.
Of the Options granted to each director, 3,200,000 will vest immediately and are exercisable until 4 December 2019. In addition, the remaining 3,200,000 options will vest, subject to the discretion of the Remuneration Committee of the Company, on the date upon which a significant commercial deal is signed by the Company and are thereafter capable of being of being exercised until 4 December 2019.
The Directors do not currently hold any other share options.
Enquires:
| Sareum Holdings plc | |
| Tim Mitchell | 01223 497 700 |
| Merchant John East Securities Limited (Nominated Adviser) | |
| Simon Clements/Bidhi Bhoma | 020 7628 2200 |
| Hybridan LLP (Broker) | |
| Claire Noyce/Stephen Austin | 020 3159 5085 |
Notes for editors:
About Sareum Holdings plc
Sareum is a drug discovery company, headquartered in Cambridge UK, that is focused on producing targeted small molecule therapeutics to address unmet medical needs, primarily in cancer.
Sareum aims to successfully deliver drug candidates for licensing to pharmaceutical and biotechnology companies at the pre-clinical or early clinical trials stage.
Sareum Holdings plc joined the AIM market of the London Stock Exchange in October 2004, trading under the symbol SAR. For further information, please visit www.sareum.co.uk