Issue of share options to Non-Executive Directors

RNS Number : 9791W

Scancell Holdings Plc

21 April 2023

 

21 April 2023

Scancell Holdings plc

("Scancell" or the "Company")

Issue of share options to Non-Executive Directors

Scancell Holdings plc (AIM: SCLP), the developer of novel immunotherapies for the treatment of cancer and infectious disease, announces that on 20 April 2023 it has granted share options to acquire ordinary shares of 0.1 pence each in the capital of the Company to the following non-executive directors:

  Dr Jean-Michel Cosséry  3,000,000

  Susan Clement Davies  1,000,000

These share options have an exercise price of 17.5 pence each, the closing share price as at 19 April 2023, and will vest over three years in three equal tranches from 20 April 2023 with no vesting criteria other than to remain in employment. Any unexercised share options which are being granted per the above will expire at 6pm on 20 April 2033.

The Board of Scancell approved the issuance of these share option grants to incentivise and retain Directors of the Company. The Board considered both historical practices and on-going funding requirements in this regard.

Related Party Transaction

The issue of share options to Dr. Jean-Michel Cosséry and Susan Clement Davies are deemed to be related party transactions pursuant to AIM Rule 13 of the AIM Rules for Companies. The Company's directors who are independent of the related party transactions (being all the directors other than Dr. Jean-Michel Cosséry and Susan Clement Davies) consider, having consulted with the Company's Nominated Adviser, Stifel Nicolaus Europe Limited, that the terms of the related party transactions are fair and reasonable insofar as the shareholders of the Company are concerned.

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	Jean-Michel Cosséry
2	Reason for the notification
a)	Position/status	Chairman of Board and 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)	Identification Code	GB00B63D3314
c)	Nature of the transaction	Grant of options to acquire ordinary shares
d)	Price(s) and volume(s)	3,000,000 share options 17.5 pence per share option
e)	Aggregated information - Aggregated volume - Price	N/A (single transaction)
f)	Date of the transaction	20 April 2023
g)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Susan Clement Davies
2	Reason for the notification
a)	Position/status	Non- Executive Director and 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)	Identification Code	GB00B63D3314
c)	Nature of the transaction	Grant of options to acquire ordinary shares
d)	Price(s) and volume(s)	1,000,000 share options 17.5 pence per share option
e)	Aggregated information - Aggregated volume - Price	N/A (single transaction)
f)	Date of the transaction	20 April 2023
g)	Place of the transaction	Outside a trading venue

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

For further information, please contact:
Scancell Holdings plc	[phone]
Dr Jean-Michel Cosséry, Non-Executive Chairman
Professor Lindy Durrant, CEO
Stifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker)	[phone]
Nicholas Moore/ Samira Essebiyea/William Palmer-Brown (Healthcare Investment Banking)
Nick Adams/Nick Harland (Corporate Broking)
Panmure Gordon (UK) Limited (Joint Broker)	[phone]
Freddy Crossley/Emma Earl (Corporate Finance)
Rupert Dearden (Corporate Broking)
FTI Consulting	[phone]
Simon Conway/Rob Winder/Alex Davis

About Scancell

Scancell is a clinical stage biopharmaceutical company that is leveraging its proprietary research, built up over many years of studying the human adaptive immune system, to generate novel medicines to treat significant unmet needs in cancer and infectious disease. The Company is building a pipeline of innovative products by utilising its four technology platforms: Moditope ^® and ImmunoBody ^® for vaccines and GlyMab^® and AvidiMab ^® for antibodies.

Adaptive immune responses include antibodies and T cells (CD4 and CD8), both of which can recognise damaged or infected cells. In order to destroy such cancerous or infected cells, Scancell uses either vaccines to induce immune responses or monoclonal antibodies (mAbs) to redirect immune cells or drugs. The Company's unique approach is that its innovative products target modifications of proteins and lipids. For the vaccines (Moditope ^® and ImmunoBody ^® ) this includes citrullination and homocitrullination of proteins, whereas its mAb portfolio targets glycans or sugars that are added onto proteins and / or lipids (GlyMab^®) or enhances the potency of antibodies and their ability to directly kill tumour cells (AvidiMab ^® ).

For further information about Scancell, please visit: https://www.scancell.co.uk/

 

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