Grant of Options

RNS Number : 0114O

Evgen Pharma PLC

01 November 2016

 

For immediate release                                                                                                                 1 November 2016

Evgen Pharma plc

("Evgen" or the "Company")

Grant of Options

Evgen Pharma plc (AIM: EVG), a clinical stage drug development company focused on the treatment of cancer and neurological conditions, announces that, on 31 October 2016, the following Persons Discharging Managerial Responsibility were granted nil cost options over a total of 488,916 ordinary shares in the Company exercisable, subject to the option vesting, for a period of up to ten years from the date of grant under the Evgen Pharma plc Long Term Incentive Plan ("LTIP").

Dr Stephen Franklin	CEO	276,173
John Bradshaw	CFO	69,043
Dr David Howat	Chief Development Officer	121,247
David Chadwick	Senior Clinical Trial Manager	22,453

The number of nil cost options awarded has been calculated by reference to the three month weighted average share price to 28 October 2016.

These nil cost options are subject to the rules of the LTIP and will vest based on share price performance between the date of grant and the third anniversary of grant.  Options will vest provided the share price on the third anniversary of grant equals or exceeds the IPO price of 37p.  At the 37p level 25% will vest, rising on a straight line basis such that 100% will vest at a share price of 55p.

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation. 

Enquiries:

Evgen Pharma plc	c/o [phone]
Dr Stephen Franklin, CEO
www.evgen.com
Northland Capital Partners Limited	[phone]
Matthew Johnson, Gerry Beaney, Margarita Mitropoulou (Corporate Finance)
John Howes, Rob Rees (Corporate Broking)
Buchanan	[phone]
Mark Court, Sophie Cowles, Stephanie Watson

Notes for editors:

About Evgen Pharma plc

Evgen Pharma is a clinical stage drug development company whose lead programmes are in breast cancer and subarachnoid haemorrhage, a type of stroke.  It is also carrying out preclinical work in multiple sclerosis and has a clinical interest in prostate cancer.  The Company's core technology is Sulforadex®, a method for synthesising and stabilising the naturally occurring compound sulforaphane and novel proprietary analogues based on sulforaphane.  The lead product, SFX-01, is a patented composition of synthetic sulforaphane and alpha-cyclodextrin. 

Evgen Pharma commenced operations in January 2008 and is based in Liverpool, UK, at the Liverpool Science Park.  It joined the AIM market of the London Stock Exchange in October 2015 and trades under the ticker symbol EVG.  For further information please visit www.evgen.com

 

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