Director salaries and award of share options

RNS Number : 5744L

Scancell Holdings Plc

01 May 2020

 

01 May 2020

Scancell Holdings plc

("Scancell" or the "Company")

Director reduced salaries and award of share options

Scancell (AIM: SCLP), the developer of novel immunotherapies for the treatment of cancer announces that in recognition of the impact of the COVID-19 crisis and to help fund the initial research work to develop a vaccine for COVID-19 the members of the Company's Senior Management Team have agreed to a temporary 25% reduction in salaries with effect from 1^st May 2020. None of Scancell's other employees will be affected.

Scancell announces that on 30 April 2020 it has granted 1,000,000 share options to acquire ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares") to each of  the members of its Senior Management Team (Dr John Chiplin, Dr Cliff Holloway, Professor Lindy Durrant, Dr Sally Adams, Dr Richard Goodfellow and Mr Keith Green).

The Options have an exercise price of 8.15 pence each and will vest twelve months from the date of Grant.

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 John Chiplin
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Scancell Holdings plc
b)	LEI	2138008RXEG856SNP666
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 to acquire Ordinary Shares
b)	Nature of the transaction	Grant of options to acquire Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 8.15 pence 1,000,000
d)	Aggregated information - Aggregated volume - Price	N/A (Single transaction)
e)	Date of the transaction	30 April 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Dr Cliff Holloway
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Scancell Holdings plc
b)	LEI	2138008RXEG856SNP666
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 to acquire Ordinary Shares
b)	Nature of the transaction	Grant of options to acquire Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 8.15 pence 1,000,000
d)	Aggregated information - Aggregated volume - Price	N/A (Single transaction)
e)	Date of the transaction	30 April 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Professor Lindy Durrant
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Scancell Holdings plc
b)	LEI	2138008RXEG856SNP666
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 to acquire Ordinary Shares
b)	Nature of the transaction	Grant of options to acquire Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 8.15 pence 1,000,000
d)	Aggregated information - Aggregated volume - Price	N/A (Single transaction)
e)	Date of the transaction	30 April 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Dr Sally Adams
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Scancell Holdings plc
b)	LEI	2138008RXEG856SNP666
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 to acquire Ordinary Shares
b)	Nature of the transaction	Grant of options to acquire Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 8.15 pence 1,000,000
d)	Aggregated information - Aggregated volume - Price	N/A (Single transaction)
e)	Date of the transaction	30 April 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Dr Richard Goodfellow
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Scancell Holdings plc
b)	LEI	2138008RXEG856SNP666
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 to acquire Ordinary Shares
b)	Nature of the transaction	Grant of options to acquire Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 8.15 pence 1,000,000
d)	Aggregated information - Aggregated volume - Price	N/A (Single transaction)
e)	Date of the transaction	30 April 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Keith Green
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Scancell Holdings plc
b)	LEI	2138008RXEG856SNP666
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 to acquire Ordinary Shares
b)	Nature of the transaction	Grant of options to acquire Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 8.15 pence 1,000,000
d)	Aggregated information - Aggregated volume - Price	N/A (Single transaction)
e)	Date of the transaction	30 April 2020
f)	Place of the transaction	Outside a trading venue

- ENDS -

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).

For more information, please contact:

Scancell Holdings plc	[phone]
Dr John Chiplin, Chairman
Dr Cliff Holloway, CEO
Panmure Gordon (UK) Limited (Nominated Adviser and Joint Broker)	[phone]
Corporate Finance: Freddy Crossley, Emma Earl
Corporate Broking: James Stearns
FTI Consulting	[phone]
Simon Conway
Natalie Garland-Collins

Notes for Editors

About Scancell

Scancell is developing novel immunotherapies for the treatment of cancer based on its ImmunoBody® and Moditope® technology platforms.

ImmunoBody® vaccines target dendritic cells and stimulate both parts of the cellular immune system. They have the potential to be used as monotherapy or in combination with checkpoint inhibitors and other agents. This platform has the potential to enhance tumour destruction, prevent disease recurrence and extend survival.

· SCIB1, the lead programme, is being developed for the treatment of melanoma. A phase 1/2 clinical trial has so far successfully demonstrated survival data of more than five years.

· SCIB2 is being developed for the treatment of non-small cell lung cancer and other solid tumours. Scancell has entered into a clinical development partnership with Cancer Research UK (CRUK) for SCIB2.

Moditope® represents a completely new class of potent and selective immunotherapy agents based on stress-induced post-translational modifications (siPTM). It stimulates the production of killer CD4 T cells which overcome the immune suppression induced by tumours, allowing activated T cells to seek out and kill tumour cells that would otherwise be hidden from the immune system. Moditope® alone, or in combination with other agents, has the potential to treat a wide variety of cancers.

· Modi-1 is being developed for the treatment of solid tumours including triple negative breast cancer, ovarian cancer and head and neck cancer.

AvidiMab™ is a patent protected technology platform which increases the avidity of human antibodies by promoting non-covalent Fc-Fc interactions. This modification induces the direct tumour cell killing properties of Scancell's anti-glycan monoclonal antibodies (mAbs) but has broad potential to increase the avidity or potency of any therapeutic monoclonal antibody including those being developed for autoimmune diseases, as well as cancer.

In response to the COVID-19 pandemic, Scancell has turned its clinical expertise in cancer to produce a simple, safe, cost-effective and scalable vaccine to induce both durable T cell responses and virus neutralising antibodies against SARS-Cov-2, the virus that causes COVID-19. The Company believes this combined T cell and antibody approach should give more potent and long-lasting responses, ultimately leading to better protection.

For further details, please see our website:  www.scancell.co.uk  

 

END

 

 

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