New Grant of Options and Director/PDMR Dealing

RNS Number : 8531D

Redx Pharma plc

01 July 2021

 

Redx Pharma plc

("Redx" or "the Company")

New Grant of Options and Director/PDMR Dealing

Alderley Park, 1 July 2021 Redx Pharma (AIM:REDX), the drug discovery and development company focused on cancer and fibrosis, announces that new options have been awarded under the Redx Directors Share Option Scheme (the "Scheme"), as adopted on 30 June 2021.  

On 1 July 2021 the Board granted options to Peter Presland (Interim Chairman), Dr. Bernhard Kirschbaum (Non-Executive Director) and Sarah Gordon Wild (Non-Executive Director), all of whom are classed as PDMRs, as set out further below. The options were granted at an exercise price of 61.5p per ordinary share, being the closing price on 30 June 2021.

Name	Position	Number of Options Granted	Vesting Date	Total Options Held Following the Grant
Peter Presland (Director/PDMR)	Interim Chairman and Non-Executive Director	66,666 66,667 66,667	1 July 2022 1 July 2023 1 July 2024	200,000
Bernhard Kirschbaum (Director/PDMR)	Non-Executive Director	66,666 66,667 66,667	1 July 2022 1 July 2023 1 July 2024	200,000
Sarah Gordon Wild (Director/PDMR)	Non-Executive Director	66,666 66,667 66,667	1 July 2022 1 July 2023 1 July 2024	200,000

In addition, options over a further 700,000 Ordinary Shares of 1p each were granted on 1 July 2021 to certain new staff of the Company under the Redx All Employees Share Option Scheme. These options will also be granted at an exercise price of 61.5p, and are not subject to performance conditions.

Following the grants referred to above, the Company will have granted options over a total of 34,648,764 Ordinary Shares representing 12.65 per cent. of the share capital in issue. The number of options that may be awarded under the Scheme, the All Employees Share Option Scheme and all prior share incentive plans, remains limited such that the aggregate number of Ordinary Shares of 1p each under option will be less than 15 per cent. of the total issued share capital of the Company.

Further information in respect of the options granted to directors is set out in the tables below in accordance with the Market Abuse Regulation.

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Peter Presland
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	Redx Pharma Plc
b)	LEI	213800HMS4EBXO589Y37
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 of 1p each
b)	Identification code	ISIN: GB00BSNB6S51
c)	Nature of the transactions	Grant of options under the Redx Directors Share Option Scheme
d)	Price(s) and volume(s)	Exercise price: 61.5p pence per ordinary share Volume: 200,000 ordinary shares
e)	Aggregated information -  Aggregated volume -  Price	As for d) above
f)	Date of the transactions	1 July 2021
f)	Place of the transactions	Off-market

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Bernhard Kirschbaum
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	Redx Pharma Plc
b)	LEI	213800HMS4EBXO589Y37
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 of 1p each
b)	Identification code	ISIN: GB00BSNB6S51
c)	Nature of the transactions	Grant of options under the Redx Directors Share Option Scheme
d)	Price(s) and volume(s)	Exercise price: 61.5p pence per ordinary share Volume: 200,000 ordinary shares
e)	Aggregated information -  Aggregated volume -  Price	As for d) above
f)	Date of the transactions	1 July 2021
f)	Place of the transactions	Off-market

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Sarah Gordon Wild
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	Redx Pharma Plc
b)	LEI	213800HMS4EBXO589Y37
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 of 1p each
b)	Identification code	ISIN: GB00BSNB6S51
c)	Nature of the transactions	Grant of options under the Redx Directors Share Option Scheme
d)	Price(s) and volume(s)	Exercise price: 61.5p pence per ordinary share Volume: 200,000 ordinary shares
e)	Aggregated information -  Aggregated volume -  Price	As for d) above
f)	Date of the transactions	1 July 2021
f)	Place of the transactions	Off-market

For further information, please contact:
Redx Pharma Plc	T: [phone]
Peter Presland, Interim Chairman Lisa Anson, Chief Executive
SPARK Advisory Partners (Nominated Adviser)	T: [phone]
Matt Davis/Adam Dawes
WG Partners LLP (Financial adviser & Joint Broker)	T: [phone]
Claes Spång/David Wilson
Panmure Gordon (UK) Ltd (Joint Broker)	T: [phone]
Rupert Dearden/Freddy Crossley/Emma Earl
FTI Consulting	T: [phone]
Simon Conway/Ciara Martin

About Redx Pharma Plc

Redx Pharma (AIM:REDX) is focused on the discovery and development of novel targeted medicines for the treatment of cancer and fibrotic diseases, aiming initially to progress them to clinical proof of concept, before evaluating options for further development and potential value creation. Redx's lead oncology asset, RXC004, is currently in a Phase 1 study in patients with advanced malignancies and Redx intends to report the Phase 1 clinical study results at a scientific meeting, as well as initiate multiple Phase 2 studies in H2 2021. The Company's selective ROCK2 inhibitor, RXC007, is in development for idiopathic pulmonary fibrosis and commenced a Phase 1 clinical study in June 2021 for which results are expected in 2022.

The Company has a strong track record of discovering new drug candidates through its core capability of converting medicinal chemistry insights into differentiated and commercially attractive drug candidates, and has previously completed preclinical asset transactions with Loxo Oncology (now Eli Lilly), AstraZeneca and Jazz Pharmaceuticals.

 

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