29 Jul 2020 14:54
C4X Discovery Holdings plc
("C4XD", "C4X Discovery" or the "Company")
Cancellation and Regrant of Existing Share Options
29 July 2020 - C4X Discovery Holdings plc (AIM: C4XD), a pioneering Drug Discovery company, announces that it is to cancel and reissue a number of unexpired options to subscribe for its ordinary shares of 0.1p each ("Ordinary Shares") which have been held by various employees and the Directors of the Company since their grant between 2015 and 2018 (the "Regrant").
The Regrant brings the strike price of the share options into line with the current market price of the Company's shares and should now deliver a viable incentive and reward package to the employees and Directors of the Company.
The Regrant options have an exercise price of 16p, being the closing price of the Ordinary Shares on 28 July 2020. The options can be exercised at any time between 3 years and 10 years of them being granted.
The share option holdings by the Directors of C4X Discovery before and after the Regrant are summarised as follows:
Options before Regrant | Options following Regrant | ||||||||
Expiry Date | 08-Jun-15 | 08-Dec-15 | 23-Nov-16 | 01-Feb-17 | 15-May-18 | 28-Jul-20 | |||
Director | Strike Price pence per Share | £1.00 | £0.77 | £1.05 | £0.91 | £0.892 | Total | £0.16 | Total |
Clive Dix | Chief Executive Officer | 20,000 | 125,000 | 0 | 0 | 50,000 | 195,000 | 195,000 | 195,000 |
Brad Hoy | Chief Financial Officer | 0 | 0 | 300,000 | 0 | 50,000 | 350,000 | 350,000 | 350,000 |
Craig Fox | Chief Scientific Officer | 150,000 | 0 | 50,000 | 50,000 | 250,000 | 250,000 | 250,000 | |
TOTAL OPTIONS OUTSTANDING | 170,000 | 125,000 | 300,000 | 50,000 | 150,000 | 795,000 | 795,000 | 795,000 | |
- Ends -
Contacts
C4X Discovery Holdings | |
Mo Noonan, Communications | +44 (0)787 6444977 |
Panmure Gordon (UK) Limited (NOMAD and Broker) | |
Freddy Crossley, Emma Earl (Corporate Finance) | +44 (0)20 7886 2500 |
James Stearns (Corporate Broking) | |
C4X Discovery Media - Consilium Strategic Communications | |
Mary-Jane Elliott, Chris Gardner, Matthew Neal | +44 (0)203 709 5700 |
Notes to Editors:
About C4X Discovery
C4X Discovery (C4XD) aims to create the world's most productive Drug Discovery engine by using cutting-edge technologies and expertise to efficiently deliver best-in-class small-molecule medicines to clinical partners for the benefit of patients. The Company's business model focuses on replenishing big pharma discovery pipelines and driving returns through revenue generating pre-clinical licensing deals. In 2018, C4XD successfully out-licensed a pre-clinical programme in addictive disorders to Indivior in a deal worth up to $294m.
C4XD has a state-of-the-art suite of proprietary technologies across the Drug Discovery process and accesses further innovative capabilities and expertise through its growing network of partners. The Company is actively advancing its diverse pre-clinical discovery portfolio which is focused on inflammation, neurodegeneration and oncology (including immuno-oncology). Opportunities to maximise value from the portfolio are proactively driven by C4XD's commercial division. The Company is led by a highly experienced management team and Board who have delivered significant value creation within the healthcare sector.
For additional information please go to: www.c4xdiscovery.com
C4XD.L (C4XD)