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Directorate Update

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RNS Number : 9568P
Redx Pharma plc
14 February 2019
 

REDX PHARMA PLC

("Redx" or "the Company")

 

Redx announces directorate update and grant of options

 

Alderley Park, 14 February 2019 Redx (AIM: REDX), the drug discovery and development company focused on cancer and fibrosis, announces that further to the announcement made on 19 November 2018, James Mead assumed his new role as Chief Financial Officer on 1 February 2019 and has become a member of Redx Pharma's Board of Directors.

 

In addition, the company announces that on 13 February 2019, options over 1,200,000 ordinary shares of 1p each in the share capital of the Company, were granted to James Mead, Chief Financial Officer, on the following basis:

 

Granted 1,200,000 Options under Redx's Enterprise Management Incentive Scheme. 

 

200,000 options are exercisable at a price of 13.75p and will vest immediately
200,000 options are exercisable at a price of 20p and will vest immediately
200,000 options are exercisable at a price of 27p and will vest on the 1-year anniversary of the grant,

200,000 options are exercisable at a price of 35p and will vest on the 1-year anniversary of the grant,
200,000 options are exercisable at a price of 42.5p and will vest on the 2-year anniversary of the grant.
200,000 options are exercisable at a price of 50p and will vest on the 2-year anniversary of the grant.

 

None of these options will become exercisable until the second anniversary of grant. 

 

For further information, please contact:

Redx Pharma Plc

T: +44 1625 469 920

Lisa Anson, Chief Executive Officer

 

 

 

Cantor Fitzgerald Europe (Nominated Advisor & Joint Broker)

 T: +44 20 7894 7000

Phil Davies

 

 

 

WG Partners LLP (Joint Broker)

T: +44 20 3705 9330

Claes Spång/ Chris Lee/ David Wilson

 

 

 

FTI Consulting

T: +44 20 3727 1000

Simon Conway/Stephanie Cuthbert

 

 

About Redx Pharma Plc 

 

Redx is a UK biotechnology Group whose shares are traded on AIM (AIM:REDX). Redx is focused on creating and developing first, or potentially best in class drugs, in specific areas of cancer and fibrosis that address significant unmet medical need. Redx has an in-house discovery team with proven world-class chemistry capabilities. 

 

If you would like to sign up to regular alerts from Redx Pharma, please follow this link https://www.redxpharma.com/investors/email-alerts.

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

James Mead

2

Reason for 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

Redx Pharma Plc

b.

LEI

213800HMS4EBXO589Y37

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 1p each

 

ISIN: GB00BSNB6S51

b.

Nature of the transaction

Grant of options under the EMI Share Scheme

 

 

c.

Price(s) and volume(s)

Granted 1,200,000 Options under Redx's Enterprise Management Incentive Scheme.

 

200,000 options are exercisable at a price of 13.75p and will vest immediately

200,000 options are exercisable at a price of 20p and will vest immediately

200,000 options are exercisable at a price of 27p and will vest on the 1-year anniversary of the grant,

 

 

 

 

200,000 options are exercisable at a price of 35p and will vest on the 1-year anniversary of the grant,

200,000 options are exercisable at a price of 42.5p and will vest on the 2-year anniversary of the grant.

200,000 options are exercisable at a price of 50p and will vest on the 2-year anniversary of the grant.

 

d.

Aggregated information

- Aggregated Volume

- Price

N/A - Single Transaction

e.

Date of the transaction

13/02/2019

f.

Place of the transaction

Outside of trading venue

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
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Quick facts: Redx Pharma Plc

Price: 7

Market: AIM
Market Cap: £8.85 m
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