Directors' Dealings and Issue of Equity

RNS Number : 8817L

e-Therapeutics plc

06 October 2016

 

e-Therapeutics plc

('e-Therapeutics' or 'the Company')

Directors' Dealings and Issue of Equity

Oxford and Newcastle, UK, 6 October 2016 - e-Therapeutics plc (AIM: ETX) the drug discovery company, announces that on 5 October 2016 Professor Trevor Jones (Non-Executive Director) subscribed for a total of 41,204 new ordinary shares of 0.1p each in the Company (the "New Ordinary Shares") at an average price of 11.327 pence per share. The subscription monies paid for the New Ordinary Shares represent 50% of Professor Jones Non-Executive Director fees net of tax paid during the period from 1 May 2016 to 30 September 2016.

Application has been made to AIM for the admission of the New Ordinary Shares to trading on AIM ("Admission") and Admission is expected to occur on 12 October 2016. The New Ordinary Shares will rank pari passu in all respects with the Company's existing ordinary shares in issue.

Following Admission, Professor Jones will be interested in a total of 70,580 ordinary shares of 0.1p in the Company, representing approximately 0.03% of the Company's issued share capital.

Following Admission the total number of ordinary shares in the Company with voting rights in issue will be 268,389,125. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

The Company also announces today that on 5 October 2016 Professor Jones entered into a binding contractual arrangement with the Company under which he agreed, with effect from 1 October 2016, to invest 50% of his annual Non-Executive Director fees net of tax in new e-Therapeutics' ordinary shares.

The new shares will be issued to Professor Jones on the first business day after 31 December and 30 June in each year. The subscription price to be paid will be the average of the closing mid-market price for the five business days prior to the date of issue. The terms pursuant to which Professor Jones will purchase the shares are fixed and he has irrevocably committed to such terms.

	1 Details of the person discharging managerial responsibilities/person closely associated a) Name Trevor Jones 2 Reason for the notification a) Position/status Director b) Initial notification /Amendment Initial Notification 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name e-Therapeutics plc b) Legal Entity Identifier N/A 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, type of instrument Identification code Ordinary shares of 0.1 pence each GB00B2823H99 b) Nature of the transaction Purchase of new shares c) Currency GBP d) Price(s) and volume(s) Price(s) Volume(s) 11.327 pence 41,204 e) Aggregated information - Aggregated volume - Price - Aggregated total 41,204 11.327 pence £4,667.12 f) Date of the transaction 5 October 2016 g) Place of the transaction London Stock Exchange

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Contacts:

e-Therapeutics plc Iain Ross, Chairman Steve Medlicott, Finance Director	Tel: [phone] www.etherapeutics.co.uk
Numis Securities Limited Michael Meade / Freddie Barnfield (Corporate Finance) James Black (Corporate Broking)	Tel: [phone] www.numis.com
Instinctif Partners Melanie Toyne Sewell / Jayne Crook / Emma Barlow	Tel: [phone] Email: [e-mail]

About e-Therapeutics plc

e-Therapeutics (AIM: ETX) is a drug discovery company with a proprietary discovery platform based on advances in network pharmacology and chemical biology. The Company is applying its platform to the discovery of new drug candidates. The therapeutic focus of the Company's activity is in immuno-oncology, addressing drug resistance in targeted cancer therapies and anti-infectives. The platform is highly productive, yielding multiple potent and selective molecules at a much higher rate and more quickly than is reported for conventional drug discovery. 

e-Therapeutics has a variety of preclinical stage assets, including ETS2300, telomerase inhibition in anti-cancer; ETS3100, small molecule anti-TNFα; ETS2400, Hedgehog pathway inhibition and ETS5200, broad spectrum antivirals. The Company has recently completed a phase IIb clinical trial for ETS6103, a drug to treat major depressive disorder.  

The Company is fully funded to advance its drug discovery programmes. It is based in Oxford and Newcastle, UK. For more information, visit www.etherapeutics.co.uk.

 

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