SUMM.L Regulatory News (SUMM)

27 Mar 2007 09:56

VASTox plc27 March 2007 VASTox plc ("VASTox" or "the Company") PAYMENT OF NON-EXECUTIVE DIRECTORS' FEES IN SHARES Oxford, UK, 27 March 2007 - VASTox plc (AIM: VOX) today announces that theNon-executive Directors of the Company have agreed to receive no less than 25per cent. of their cumulative director fees in VASTox shares ("Non-executiveShare Ownership Scheme"). The Non-executive Share Ownership Scheme takes effectfrom 1 February 2007 and the percentage of fees taken as shares will be agreedannually in advance by individual Non-executive directors. The shares will be purchased from the market on behalf of the Non-executiveDirectors by the Company's broker. The purchase of shares will begin on 28March 2007 and then on a quarterly basis on 30 April, 31 July, 31 October and 31January. The current holdings and share purchase commitment for the year ending 31January 2008 are shown below. Non-executive Director Shareholding at 26 Percentage of % of fees to be taken as March 2007 Ordinary Shares shares in the year ending 31 Jan 2008Barry Price - 25%Stephen Davies 6,208,748 16.7% -David Norwood - 100%Sir Brian Richards - 50%Colin Wall 74,000 0.15% - - ends - For more information, please contact: VASToxSteven Lee, PhD, Chief Executive Officer Tel: +44 (0)1235 443951Darren Millington, Chief Financial Officer Citigate Dewe RogersonMark Swallow / David Dible / Valerie Auffray Tel: +44 (0)207 638 9571 About VASTox plc VASTox is a leading UK biotechnology company that discovers and developsproprietary new drugs. The Company's internal drug development programmes areunderpinned by its advanced chemistry and drug screening (chemical genomics)technology platforms, which it also provides on a collaborative orfee-for-service basis to the pharmaceutical industry. VASTox has a broad range of drug discovery programmes in the clinical,pre-clinical and discovery stages of development, which target serious diseaseswith a high unmet medical need. These therapeutic areas include neuro-disorders(neurodegenerative and neuromuscular), anti-infectives, ophthalmic diseases,oncology and regenerative medicines. VASTox's in-house drug development capabilities combine world-class expertise inboth medicinal and carbohydrate chemistry with high-volume, high-contentscreening using its proprietary zebrafish and fruitfly technologies (chemicalgenomics). These whole organism screens have the potential to dramaticallydecrease the time and cost of drug discovery and development by delivering datathat are highly predictive of the efficacy and toxicity of potential drugcompounds in humans. The company listed on the AIM market of the London Stock Exchange in October2004 - symbol: VOX Further information about the company is available at www.vastox.com. This information is provided by RNS The company news service from the London Stock Exchange