16 April 2021
Incanthera plc
("Incanthera" or the "Company")
Grant of options
Incanthera plc, the specialist oncology company focused on innovative technologies in oncology and dermatology, announces the grant of the following further options on 15 April 2021, under both its approved and unapproved share option schemes (the "Schemes").
The Company has granted 1,575,000 options in aggregate to Directors, PDMRs and consultants.
Details of the grants to directors and PDMRs are as follows:
| Option holder (scheme)
|
Number of Options granted |
Exercise Price |
Options Granted as Percentage of Current Issued Share Capital |
| Tim McCarthy (Approved) |
275,000 |
20p |
0.37% |
| Simon Ward (Approved) |
275,000 |
20p |
0.37% |
| Pawel Zolnierczyk (Approved) Suzanne Brocks (Approved) Laura Brogden (Unapproved)
|
275,000 275,000 275,000
|
20p 20p 20p
|
0.37% 0.37% 0.37%
|
Option Schemes and Grant of Options
The Company adopted the Schemes in 2020, 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.
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.
Following the grant of options above, the Company will have in total outstanding options over 7,350,000 ordinary shares, representing 9.9 per cent. of the Company's issued share capital.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).
For further information, please contact:
Incanthera plc
Tim McCarthy, Chairman +44 (0) 7831 675747
Simon Ward, Chief Executive Officer +44 (0) 7747 625506
Suzanne Brocks, Head of Communications +44 (0) 7776 234600
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 8880
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 |
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Name
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| 2. |
Reason for the notification |
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| a) |
Position/status |
As above |
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| b) |
Initial notification/Amendment |
Initial Notification |
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| 3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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| a) |
Name |
Incanthera plc |
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| b) |
LEI |
2138002HEV4UFBOEXQ97 |
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| 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 |
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| a) |
Description of the financial instrument |
Options over ordinary shares |
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| b) |
Identification code |
GB00BGL7YW15 |
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| c) |
Nature of the transactions |
Grant of Options |
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| d) |
Volumes and Prices |
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| e) |
Aggregated information - Aggregated volume - Price |
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| f) |
Date of the transactions |
15 April 2021 |
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| f) |
Place of the transactions |
AQSE Growth Market, UK |
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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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