Director/PDMR Shareholding

RNS Number : 0295E

e-Therapeutics plc

03 May 2017

 

E-THERAPEUTICS PLC

("e-Therapeutics" or the "Company")

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS

DISCHARGING MANAGERIAL RESPONSIBILITIES

Oxford, UK, 3 May 2017 - e-Therapeutics plc (AIM: ETX), the drug discovery company, announces that on 2 May 2017 it granted 5,500,000 options over its ordinary shares of 0.1 pence each to Raymond Barlow, Chief Executive Officer of the Company, in accordance with the terms of Mr Barlow's employment contract. The options were granted under the e-Therapeutics Performance Share Plan in three tranches as follows:

2,000,000 share options with an exercise price of 16.76 pence per share (the "A Award");

1,750,000 share options with an exercise price of 20.95 pence per share (the "B Award"); and

1,750,000 share options with an exercise price of 25.14 pence per share (the "C Award")

of which 3,174,603 options were granted as Enterprise Management Incentive options, and the balance as unapproved options.

Following this grant, Raymond Barlow holds 5,500,000 options over ordinary shares in the Company (the "Options").

The Options vest on the first anniversary from the date of grant in respect of the A Award, on the second anniversary of the date of grant in respect of the B Award, and in equal monthly tranches over a three-year period from the date of grant in respect of the C Award.  Vested Options may not be exercised prior to the second anniversary from the date of grant, but all vested Options remain exercisable up to and including the tenth anniversary of the date of grant, to the extent that the award performance targets applicable to the options have been met.

In the event of a change of control, if not already vested in full, the Options shall vest and become exercisable to the fullest extent possible.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further details:

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Raymond John Barlow
2	Reason for the notification
a)	Position/status	Chief Executive Officer/Executive Director
b)	Initial notification/ Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	e-Therapeutics plc
b)	LEI	21380049RHSSJXWKYT18
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	Ordinary Shares of 0.1 pence ISIN:   GB00B2823H99
b)	Nature of the transaction	Grant of options to acquire shares
c)	Price(s) and volume(s)	2,000,000 options to acquire ordinary shares at an exercise price of 16.76 pence per share; 1,750,000 options to acquire ordinary shares at an exercise price of 20.95 pence per share; and 1,750,000 options to acquire ordinary shares at an exercise price of 25.14 pence per share
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	2 May 2017
f)	Place of the transaction	Outside a trading venue

For further information, please contact:

Contacts:

e-Therapeutics plc Iain Ross, Chairman Steve Medlicott, Finance Director	Tel: [phone] www.etherapeutics.co.uk
Numis Securities Limited Michael Meade / Freddie Barnfield (Corporate Finance) James Black (Corporate Broking)	Tel: [phone] www.numis.com
Instinctif Partners Melanie Toyne Sewell / Alex Shaw	Tel: [phone] Email: [e-mail]

About e-Therapeutics plc

e-Therapeutics is a drug discovery company with a unique and proprietary in silico discovery platform.  The Company is applying its computational platform to the discovery of new drug candidates for which it can secure robust intellectual property rights.

The therapeutic focus of the Company's discovery activity is in areas of complex disease with unmet medical need, including immuno-oncology.  The business model is to partner these preclinical drug candidates.

e-Therapeutics is headquartered in Oxford. For more information about the Company please visit www.etherapeutics.co.uk.

 

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