Issue of Options

RNS Number : 9119R

Sareum Holdings PLC

14 March 2016

 

(AIM: SAR)

14 March 2016

SAREUM HOLDINGS PLC

("Sareum" or the "Company")

Issue of Options

The Company announces that it granted on 11 March 2016 the following share options (the "Options") to Tim Mitchell, Chief Executive Officer, John Reader, Chief Scientific Officer and Paul Harper, Non-Executive Chairman;

	Number of options
Tim Mitchell	5,340,862
John Reader	5,340,862
Paul Harper	910,396

The Options have been granted with an exercise price of 0.59 pence and are exercisable until 12 March 2026. The Options will vest subject to pre-determined performance criteria.

In addition to the Options being granted, Tim Mitchell and John Reader currently each hold the following options:

Exercise period	Number of options	Exercise price
4 December 2009 - 4 December 2019	6,400,000	0.25 pence
22 December 2010 - 22 December 2020	6,153,846	0.26 pence
13 March 2012 - 13 March 2022	2,566,666	1.2 pence
18 December 2013 - 18 December 2023	4,752,000	0.6 pence
25 November 2014 - 25 November 2024	7,198,353	0.425 pence

In addition to the Options being granted, Paul Harper holds the following options:

Exercise period	Number of options	Exercise price
18 December 2013 - 18 December 2023	810,000	0.6 pence
25 November 2014 - 25 November 2024	1,227,059	0.425 pence

Enquires:

Sareum Holdings plc
Tim Mitchell	01223 497 700
WH Ireland Limited (Nominated Adviser and Co-Broker)
Chris Fielding / Nick Prowting	020 7220 1666
Hybridan LLP (Co-Broker)
Claire Noyce / William Lynne	020 3764 2341/2342
The Communications Portfolio (Media enquiries)
Ariane Comstive [e-mail]	07785 922 354

Notes for editors:

About Sareum Holdings plc

Sareum is a drug discovery and development company delivering targeted small molecule therapeutics, focusing on cancer and autoimmune disease, for licensing to pharmaceutical and biotechnology companies at the preclinical or early clinical trials stage.

Sareum operates an outsourced research model, working with collaborators (SRI International, the CRT Pioneer Fund and Hebei Medical University Biomedical Engineering Center) and a world-wide network of research providers. Its research pipeline includes a programme awaiting final approval to start clinical trials and another undergoing pre-clinical IND-enabling studies.

SKIL® (Sareum Kinase Inhibitor Library) is Sareum's drug discovery technology platform that has so far produced the Company's Aurora+FLT3, Aurora+ALK, VEGFR-3, FLT3 & TYK2 kinase cancer and autoimmune disease research programmes. SKIL® can also generate drug research programmes against other kinase targets.

Sareum Holdings plc is listed on the AIM market of the London Stock Exchange, trading under the symbol SAR. For further information, please visit www.sareum.co.uk

 

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