Cancellation and Regrant of Existing Share Options

RNS Number : 5136U

C4X Discovery Holdings PLC

29 July 2020

 

C4X Discovery Holdings plc

("C4XD", "C4X Discovery" or the "Company")

Cancellation and Regrant of Existing Share Options

2 9 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	[phone]
Panmure Gordon (UK) Limited (NOMAD and Broker)
Freddy Crossley, Emma Earl (Corporate Finance)	[phone]
James Stearns (Corporate Broking)
C4X Discovery Media - Consilium Strategic Communications
Mary-Jane Elliott, Chris Gardner, Matthew Neal	[phone]

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

 

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