Grant of Options

RNS Number : 2340F

Destiny Pharma PLC

25 October 2018

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE EU MARKET ABUSE REGULATION (596/2014). UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Destiny Pharma plc

("Destiny Pharma" or the "Company")

Grant of Options

Brighton, United Kingdom - 25 October 2018 - Destiny Pharma (AIM: DEST), a clinical stage biotechnology company focused on the development of novel anti-microbial drugs, which address the global problem of anti-microbial resistance (AMR), announces that it has granted options ("Options") over 300,000 new ordinary shares of 1 pence each in the Company ("Ordinary Shares") (representing 0.69 per cent. of the Company's issued share capital) to Shaun Claydon, the Company's new Chief Financial Officer who joined the board after close of business yesterday. Mr. Claydon has no other options over, or holdings in, the Company's shares.

The Options represent awards under the Destiny Pharma Employee Long Term Incentive Plan 2018 approved by the Company on 25 January 2018 for EMI and non-tax advantaged options. 150,000 of the Options have been granted at a price of 76.5 pence per Ordinary Share, being the closing mid-market price of an Ordinary Share on 24 October 2018, which will vest on the third anniversary of the date of grant and are exercisable for ten years thereafter.  The remainder of the Options have been granted at a price of 1 pence each, of which, 50,000 will vest on 31 January 2019, 100,000 will vest on 31 January 2020 and all will be exercisable for ten years thereafter.

For further information, please contact:

Destiny Pharma plc

Neil Clark, CEO

[e-mail] 

[phone]

FTI Consulting

Simon Conway / Victoria Foster Mitchell

[e-mail] 

[phone]

Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker)

Philip Davies / Will Goode, Corporate Finance

Andrew Keith, Healthcare Equity Sales

[phone]

finnCap Ltd (Joint Broker)

Geoff Nash / Kate Bannatyne, Corporate Finance

Alice Lane, Corporate Broking

[phone]

About Destiny Pharma

Destiny Pharma is an established, clinical stage, innovative biotechnology company focused on the development of novel medicines that represent a new approach to the treatment of infectious disease. These potential new medicines are being developed to address the need for new drugs for the prevention and treatment of life-threatening infections caused by antibiotic-resistant bacteria, often referred to as "superbugs". Tackling anti-microbial resistance has become a global imperative recognised by the World Health Organisation (WHO) and the United Nations, as well as the G7 and the G20 countries. For further information, please visit https://www.destinypharma.com 

The notification set out below is provided in accordance with the requirements of the EU Market Abuse Regulation.

1	Details of the relevant person / person closely associated
a)	Name	Shaun Claydon
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/ Amendment	Initial notification
3	Details of the issuer
a)	Name	Destiny Pharma plc
b)	LEI	213800O9WH9Z38EHAC95
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	Options over Ordinary Shares
	Identification code	GB00BDHSP575
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s) Volume(s) 76.5 pence 150,000 1 pence 50,000 1 pence 150,000
d)	Aggregated information
	- Aggregated volume	As above
	- Price	As above
e)	Date of the transaction	25 October 2018
f)	Place of the transaction	AIM

 

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