10 Feb 2020 14:15
Director/PDMR Shareholding
Summit Therapeutics plc(“Summit Therapeutics” or the “Company”)
Notification of Transaction of Persons Discharging Managerial Responsibilities
Oxford, UK, and Cambridge, MA, US, 10 February 2020 - Summit Therapeutics (AIM: SUMM, NASDAQ: SMMT), a leader in antibiotic innovation, announces that it has received notification that on 7 February 2020, Dr Elaine Stracker, a Non-Executive Director of the Company, was assigned for no consideration warrants to acquire a total of 2,099,207 ordinary shares by Maky Zanganeh and Associates, Inc. (“MZA”). The Company has a consultancy agreement with MZA where Dr Stacker serves as General Counsel and Senior Vice President for Corporate Development.
Following the completion of this transfer, Dr Stracker has the following interest in the Company’s ordinary shares:
| Total number of ordinary shares held | Number of Outstanding Share Options Held | Total Number of Outstanding Warrants Held | ||
| Elaine Stracker | Non-Executive Director | Nil | 1,000,000 | 2,099,207 |
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person responsible for arranging for the release of this announcement on behalf of the Company is Richard Pye, Vice President, Investor Relations and Corporate Affairs.
About Summit Therapeutics Summit Therapeutics is a leader in antibiotic innovation. Our new mechanism antibiotics are designed to become the new standards of care for the benefit of patients and create value for payors and healthcare providers. We are currently developing new mechanism antibiotics to treat infections caused by C. difficile, N. gonorrhoeae and Enterobacteriaceae and are using our proprietary Discuva Platform to expand our pipeline. For more information, visit www.summitplc.com and follow us on Twitter @summitplc.
For more information, please contact:
| Summit | ||
| Glyn Edwards / Richard Pye (UK office) | Tel: | 44 (0)1235 443 951 |
| Michelle Avery (US office) | +1 617 225 4455 | |
| Cairn Financial Advisers LLP (Nominated Adviser) | Tel: | +44 (0)20 7213 0880 |
| Liam Murray / Tony Rawlinson / Ludovico Lazzaretti | ||
The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.
| 1 | Details of the persons discharging managerial responsibilities/person closely associated | ||||
| a) | Name | (i) Dr Elaine Stracker | |||
| 2 | Reason for the notification | ||||
| a) | Position / status | (i) Non-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 | Summit Therapeutics plc | |||
| b) | LEI | 213800NRW8AOMYMTBD89 | |||
| 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 | Ordinary shares of 1 penny each | |||
| Identification code | GB00BN40HZ01 | ||||
| b) | Nature of the transactions | Assignment of warrants, for no consideration, to acquire ordinary shares of one penny nominal value at a price of 22.1 pence per ordinary share | |||
| c) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
| (i) nil | (i) 2,099,207 | ||||
| d) | Aggregated information - Aggregated volume - Price | 2,099,207 warrants to acquire ordinary shares nil | |||
| e) | Date of the transactions | 7 February 2020 | |||
| f) | Place of the transactions | Outside a trading venue | |||
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