Grant of Options

Incanthera PLC

22 February 2024

 

22 February 2024

Incanthera plc

("Incanthera" or the "Company")

Grant of Options

Incanthera plc, the specialist company focused on dermatology and oncology announces the grant of  3,200,000 options, on 21 February 2024, to directors, senior management and employees under both its approved and unapproved share option schemes (the "Schemes") as follows:

Option holder (scheme)	Number of Options granted	Exercise Price	Options Granted as Percentage of Current Issued Share Capital
Tim McCarthy (Approved)	650,000	8.75p	0.71%
Simon Ward (Approved)	650,000	8.75p	0.71%
Suzanne Brocks (Approved)	650,000	8.75p	0.71%
Laura Brogden (Unapproved)	650,000	8.75p	0.71%
Caroline Murray (Unapproved)	200,000	8.75p	0.22%

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
34 per cent. ("Tranche One")	On the first anniversary of the date of the grant
33 per cent. ("Tranche two")	On the second anniversary of the date of the grant
33 per cent. ("Tranche three")	On the third anniversary of the date of the grant

Performance Condition: Posting of First revenues from a commercial deal

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 9,175,000 ordinary shares, representing 9.96 per cent. of the Company's issued share capital. The issued share capital of the Company comprises 92,109,880 ordinary shares.

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 www.incanthera.com Tim McCarthy, Chairman [e-mail] Simon Ward, Chief Executive Officer [e-mail] Suzanne Brocks, Head of Communications [e-mail]	[phone] [phone] [phone]
Aquis Exchange Corporate Adviser:  Cairn Financial Advisers LLP Jo Turner / Liam Murray	[phone]
Broker:  Stanford Capital Partners Ltd Patrick Claridge / Bob Pountney	[phone]/51

1.	Details of the person discharging managerial responsibilities/person closely associated
	Name	1.    Tim McCarthy Chairman 2.    Simon Ward CEO 3.    Caroline Murray Director
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 over ordinary shares
b)	Identification code	GB00BGL7YW15
c)	Nature of the transactions	Grant of Options
d)	Volumes and Prices	Volume Price 1.    650,000 8.75p 2.    650,000 8.75p 3.    200,000 8.75p
e)	Aggregated information -     Aggregated volume -     Price	Volume Prices 1,500,000 8.75p
f)	Date of the transactions	21 February 2024
g)	Place of the transactions	AQSE Growth Market, UK

Notes to Editors

About Incanthera plc

Incanthera is a specialist company focused on innovative technologies in dermatology and oncology. It seeks to identify and develop innovative solutions to current clinical, commercially relevant unmet needs, utilising new technology from leading specialists and academic institutions as well as its in-house development team.

The Company originated from the Institute of Cancer Therapeutics ("ICT") at the University of Bradford.  Incanthera's strategy is to develop each candidate in its 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

@incantheraplc

 

END