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5 Apr 2019 12:55
Press Release
Synairgen plc
('Synairgen' or the 'Company')
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Grant of options
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Southampton, UK - 5 April 2019: Synairgen plc (LSE: SNG), the respiratory drug discovery and development company, announces that on 4 April 2019 the Board of Synairgen granted options ('Options') over 2,649,696 ordinary shares of one pence each in the capital of the Company ('Ordinary Shares') at an exercise price of one pence per Ordinary Share. The Options represent in aggregate 2.42 per cent. of the Company's issued share capital.
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The Options are issued under the Company's existing Long Term Incentive Plan and are exercisable between 4 April 2022 and 3 April 2029, subject to achievement of performance criteria related to the increase in the total shareholder return of the Company. Following this grant, Synairgen has 8,737,515 options in issue, representing 7.98 per cent. of the Company's issued share capital.
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Included in the number of Options granted on 4 April 2019, the following Options were issued to directors:
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Director | Options Issued |
Richard Marsden | 772,167 |
Dr. Phillip Monk | 557,679 |
John Ward | 600,575 |
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Following the issue of the Options, the interests of the directors of the Company at
4 April 2019 are as follows:
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Director | Total options issued | Ordinary shares | Total interest | Percentage holding of fully diluted share capital |
Richard Marsden | 3,043,022 | 310,682 | 3,353,704 | 2.84% |
Dr. Phillip Monk | 1,594,099 | 230,314 | 1,824,413 | 1.54% |
John Ward | 2,099,315 | 339,006 | 2,438,321 | 2.06% |
Simon Shaw | - | 1,474,096 | 1,474,096 | 1.25% |
Iain Buchanan | 212,765 | 112,741 | 325,506 | 0.28% |
Dr. Bruce Campbell | - | 294,259 | 294,259 | 0.25% |
Paul Clegg | 250,000 | 204,244 | 454,244 | 0.38% |
Prof. Stephen Holgate | - | 858,360 | 858,360 | 0.73% |
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Jody Brookes and Victoria Tear, also persons disclosing managerial responsibilities, were granted 124,312 and 119,166 Options respectively.
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This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No. 596/2014 ('MAR')
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For further information, please contact:
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Synairgen plcĀ
Richard Marsden, Chief Executive Officer
John Ward, Finance Director
Tel: + 44 (0) 23 8051 2800
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finnCap
Geoff Nash, Max Bullen-Smith (Corporate Finance)
Alice Lane (ECM)
Tel: + 44 (0) 20 7220 0500
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Consilium Strategic Communications (Financial Media and Investor
Relations)
Mary-Jane Elliott / Sue Stuart / Olivia Manser
synairgen@consilium-comms.com
Tel: +44 (0) 20 3709 5701
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Notes for Editors
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About SynairgenĀ
Synairgen is a respiratory drug discovery and development company founded by University of Southampton Professors Stephen Holgate, Donna Davies and Ratko Djukanovic. The business, focused primarily on asthma and COPD, uses its differentiating human biology BioBank platform and world-renowned international academic KOL network to discover and develop novel therapies for respiratory disease. Leveraging its scientific and clinical facilities at Southampton General Hospital, the Company uses in vitro and ex vivo models to progress opportunities into clinical development. The BioBank of human samples is used in these models to increase confidence in the likelihood of successful drug development.
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Synairgen is currently conducting a two-part Phase II trial evaluating SNG001, the Company's inhaled interferon beta (IFN-beta) product. The Phase II trial, called SG015, has been designed to assess the safety of SNG001 in COPD patients and its clinical benefit in these patients when they have a cold or flu infection, a major driver of COPD exacerbations.
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Core to Synairgen's business strategy is the realisation of value via licensing transactions. In August 2015 the Company entered into a collaboration with Pharmaxis to develop an oral LOXL2 inhibitor to reduce fibrosis in patients with idiopathic pulmonary fibrosis (IPF). In December 2017, the collaboration agreement was amended as Pharmaxis took on full responsibility for the programme, with Synairgen receiving a Ā£5 million upfront payment and a share of at least 17% (net of allowable expenses) of any receipts from any onward licensing by Pharmaxis of the LOXL2 inhibitors in fibrotic indications.
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Synairgen is quoted on AIM (LSE: SNG). For more information about Synairgen, please see www.synairgen.comĀ
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1. | Details of Persons Discharging Managerial Responsibilities ('PDMR') / person closely associated with them ('PCA') | |
a) | Name | Richard Marsden |
2. | Reason for notification | |
a) | Position / status | Chief Executive Officer |
b) | Initial notification / amendment | Initial Notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Synairgen plc |
b) | LEI | 213800IMMTOPPDF8HD24 |
4. | Details of the transaction(s): | |
a) | Description of the financial instrument Ā Identification code Ā | Options over ordinary shares of 1p each Ā Ā GB00B0381Z20 |
b) | Nature of the transaction | Award of Options under the Synairgen LTIP |
c) | Price(s) and volume(s) | Ā 772,167 Options awarded Ā |
d) | Aggregated information Aggregated volume Price | n/a |
e) | Date of the transaction | 4 April 2019 |
f) | Place of the transaction | Outside a trading venue |
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1. | Details of Persons Discharging Managerial Responsibilities ('PDMR') / person closely associated with them ('PCA') | |
a) | Name | Dr Phillip Monk |
2. | Reason for notification | |
a) | Position / status | Chief Scientific Officer |
b) | Initial notification / amendment | Initial Notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Synairgen plc |
b) | LEI | 213800IMMTOPPDF8HD24 |
4. | Details of the transaction(s): | |
a) | Description of the financial instrument Ā Identification code Ā | Options over ordinary shares of 1p each Ā Ā GB00B0381Z20 |
b) | Nature of the transaction | Award of Options under the Synairgen LTIP |
c) | Price(s) and volume(s) | Ā 557,679 Options awarded Ā |
d) | Aggregated information Aggregated volume Price | n/a |
e) | Date of the transaction | 4 April 2019 |
f) | Place of the transaction | Outside a trading venue |
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1. | Details of Persons Discharging Managerial Responsibilities ('PDMR') / person closely associated with them ('PCA') | |
a) | Name | John Ward |
2. | Reason for notification | |
a) | Position / status | Finance Director |
b) | Initial notification / amendment | Initial Notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Synairgen plc |
b) | LEI | 213800IMMTOPPDF8HD24 |
4. | Details of the transaction(s): | |
a) | Description of the financial instrument Ā Identification code Ā | Options over ordinary shares of 1p each Ā Ā GB00B0381Z20 |
b) | Nature of the transaction | Award of Options under the Synairgen LTIP |
c) | Price(s) and volume(s) | Ā 600,575 Options awarded Ā |
d) | Aggregated information Aggregated volume Price | n/a |
e) | Date of the transaction | 4 April 2019 |
f) | Place of the transaction | Outside a trading venue |
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1. | Details of Persons Discharging Managerial Responsibilities ('PDMR') / person closely associated with them ('PCA') | |
a) | Name | Jody Brookes |
2. | Reason for notification | |
a) | Position / status | Head of Clinical Operations |
b) | Initial notification / amendment | Initial Notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Synairgen plc |
b) | LEI | 213800IMMTOPPDF8HD24 |
4. | Details of the transaction(s): | |
a) | Description of the financial instrument Ā Identification code Ā | Options over ordinary shares of 1p each Ā Ā GB00B0381Z20 |
b) | Nature of the transaction | Award of Options under the Synairgen LTIP |
c) | Price(s) and volume(s) | Ā 124,312 Options awarded Ā |
d) | Aggregated information Aggregated volume Price | n/a |
e) | Date of the transaction | 4 April 2019 |
f) | Place of the transaction | Outside a trading venue |
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1. | Details of Persons Discharging Managerial Responsibilities ('PDMR') / person closely associated with them ('PCA') | |
a) | Name | Victoria Tear |
2. | Reason for notification | |
a) | Position / status | Head of Laboratories |
b) | Initial notification / amendment | Initial Notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Synairgen plc |
b) | LEI | 213800IMMTOPPDF8HD24 |
4. | Details of the transaction(s): | |
a) | Description of the financial instrument Ā Identification code Ā | Options over ordinary shares of 1p each Ā Ā GB00B0381Z20 |
b) | Nature of the transaction | Award of Options under the Synairgen LTIP |
c) | Price(s) and volume(s) | Ā 119,166 Options awarded Ā |
d) | Aggregated information Aggregated volume Price | n/a |
e) | Date of the transaction | 4 April 2019 |
f) | Place of the transaction | Outside a trading venue |
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