Grant of Options
RNS Number : 0582S
Incanthera PLC
06 July 2020
 

 

 

6th July 2020

Incanthera plc

 

("Incanthera" or the "Company")

 

Grant of options

 

Incanthera plc announces that it has adopted both an approved and unapproved share option scheme (the "Schemes") and, on 4th July 2020, made a grant of options under both Schemes to directors and others.   

 

Option Schemes and Grant of Options

 

As outlined in the Company's Admission Document of February this year, the Company has adopted the Schemes to incentivise management performance for the benefit of all shareholders by way of options which are subject to time and performance conditions. 

 

For the purposes of the Schemes, a maximum of 10 per cent. of the Company's issued share capital in aggregate, from time to time, may be issued without the prior approval of shareholders of the Company. The exercise period for options granted under the Schemes is three years from the date of grant.

 

Vesting criteria for options granted under the Schemes are subject to time and performance conditions as follows:

 

Amount Vesting

Time Condition

 

36 per cent. ("Tranche One")

On the first anniversary of the date of the grant

 

 

32 per cent. ("Tranche two")

 

On the second anniversary of the date of the grant

 

 

32 per cent. ("Tranche three")

On the third anniversary of the date of the grant

 

 

Performance Condition: Entering into a commercial agreement relating to its intellectual property.

 

The Schemes provide for good/bad leaver provisions and other standard terms normally associated with such schemes.

 

The Company has granted the following options under the Scheme:

 

Option holder (scheme)

 

Number of

Options granted

Exercise Price

Options Granted as Percentage of Issued Share Capital on Admission

Tim McCarthy (Approved)

1,100,000

9.5p

1.8%

Simon Ward (Approved)

1,100,000

9.5p

1.8%

Pawel Zolnierczyk (Approved)

Suzanne Brocks (Approved)

Laura Brogden (Unapproved)

Kevin Hammond (Unapproved)

 

1,100,000

1,100,000

1,100,000

275,000

9.5p

9.5p

9.5p

9.5p

1.8%

1.8%

1.8%

0.5%

 

Total

5,775,000

 

9.5%

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").

 

The directors of the Company take responsibility for this announcement.

For further information, please contact:

Incanthera plc

www.incanthera.com

 

Tim McCarthy, Chairman                                                                                         +44 (0) 7831 675747

tim.mccarthy@incanthera.com

 

Simon Ward, Chief Executive Officer                                                                     +44 (0) 7747 625506

simon.ward@incanthera.com


Suzanne Brocks, Head of Communications                                                          +44 (0) 7776 234600

suzanne.brocks@incanthera.com

 

AQSE Corporate Adviser:

Cairn Financial Advisers LLP

Jo Turner / James Lewis                                                                                                +44 (0) 20 7213 0880

 

Broker:

Stanford Capital Partners Ltd

Patrick Claridge / John Howes / Bob Pountney                                                          +44 (0) 20 3815 888

 

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities/ person closely associated with them.

 

 

1.

Details of the person discharging managerial responsibilities/person closely associated

 

 Name

 

 

1.    Tim McCarthy

Chairman

2.    Simon Ward

CEO

3.    Pawel Zolnierczyk

PDMR

4.    Suzanne Brocks

PDMR

5.    Laura Brogden

PDMR

 

2.

Reason for the notification

a)

Position/status

As above

b)

Initial notification/Amendment

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Incanthera plc

b)

LEI

2138002HEV4UFBOEXQ97

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

Options

b)

Identification code

GB00BGL7YW15

c)

Nature of the transactions

Grant of Options

d)

Volumes and Prices

 

Volume

Price

1.    1,100,000

9.5p

2.    1,100,000

9.5p

3.    1,100,000

9.5p

4.    1,100,000

9.5p

5.    1,100,000

9.5p

 

 

 

e)

Aggregated information

-     Aggregated volume

-     Price

 

Volume

Prices

5,500,000

 

9.5p

 

f)

Date of the transactions

4th July 2020

f)

Place of the transactions

AQSE Growth Market, UK

 

 

Notes to Editors

 

Incanthera is a specialist oncology company focused on transforming cancer treatment by creating environments in which cancer cannot survive. It seeks to identify and develop innovative solutions to current clinical, commercially relevant unmet needs, utilising new technology from leading academic institutions.

 

The Company's current lead product and focus is Sol, a potentially innovative topical product for the treatment of solar keratosis and the prevention of skin cancers. This has achieved proof of concept and the Company is now focussed upon delivering Sol to a commercial partner.

 

The Company originated from the Institute of Cancer Therapeutics ("ICT") at the University of Bradford and has acquired and developed a portfolio of specific cancer-targeting therapeutics through a Pipeline Agreement with the ICT and other corporate acquisitions.

 

Incanthera's strategy is to develop each candidate in the portfolio from initial acquisition or discovery to securing its future through commercially valuable partnerships at the earliest opportunity in its development pathway.

 

For more information on the Company please visit: www.incanthera.com

 

 


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