Grant of options

RNS Number : 1541B

Evgen Pharma PLC

06 October 2020

 

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 5 October 2020, certain employees and directors of the Company, including the following Persons Discharging Managerial Responsibility ("PDMR"), were granted nil cost options (the "Options") over a total of 4,387,547 ordinary shares in the Company exercisable, subject to the Options vesting, for a period of up to 10 years from the date of grant and governed by the rules of the Evgen Pharma plc Long Term Incentive Plan ("LTIP").

PDMR	Position	Options granted
Dr Huw Jones	Chief Executive Officer	2,978,004
Richard Moulson	Chief Financial Officer	337,817

The Options will vest on the third anniversary of grant, and other than 1,489,002 Options awarded to Dr Jones on joining the Company and vesting if performance is satisfactory, are subject to performance based on a combination of total shareholder return ("TSR") measured against an index of comparator companies (70%), and performance against strategic corporate objectives over three years (30%). The minimum TSR from the grant date to the vesting date for any of the Options to vest is median performance against the index. Re-testing of this performance condition after the vesting date is not permitted.

Following this award there are 7,478,376 options in issue, representing 5.48% of the Company's issued share capital.

Enquiries:

Evgen Pharma  plc  www.evgen.com		via Walbrook
Barry Clare, Chairman
Richard Moulson, CFO
finnCap  www.finncap.com		[phone]
Geoff Nash / Teddy Whiley (Corporate Finance)
Alice Lane (ECM)
Walbrook PR	[phone] or  [e-mail]
Paul McManus / Anna Dunphy		+ 44 (0)7980 541 893 / [phone]

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. 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 has its headquarters at The Colony, Wilmslow, Cheshire, and its registered office is at the Liverpool Science Park, Liverpool.  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

For commissioned research on the Company, please visit: http://evgen.com/investors/analyst-coverage/  

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Dr Huw Jones
2	Reason for the notification
a)	Position/status	Chief Executive
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Evgen Pharma Plc
b)	Legal Entity Identifier	213800NO3E6TSTQO8K20
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	Options over ordinary shares of 0.25 pence each  GB00BSWYN304
b)	Nature of the transaction	Grant of options
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s)	Volume(s)
		nil	2,978,004
e)	Aggregated information - Aggregated volume - Price - Aggregated total
f)	Date of the transaction	2 October 2020
g)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Richard Moulson
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Evgen Pharma plc
b)	Legal Entity Identifier	213800NO3E6TSTQO8K20
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	Options over ordinary shares of 0.25 pence each  GB00BSWYN304
b)	Nature of the transaction	Grant of options
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s)	Volume(s)
		nil	337,817
e)	Aggregated information - Aggregated volume - Price - Aggregated total
f)	Date of the transaction	2 October 2020
g)	Place of the transaction	London Stock Exchange, AIM

 

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