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Press Release

Summit Therapeutics plc : Director/PDMR Shareholding

Summit Therapeutics plc
Posted on: 10 Apr 18

Summit Therapeutics plc
('Summit' or the 'Company')
                                                                                                 
Exercise of Restricted Stock Units and Director Dealings

Oxford, UK, and Cambridge, MA, US, 19 July 2018 - Summit Therapeutics plc (AIM: SUMM, NASDAQ: SMMT), announces the exercise by the following Non-Executive Directors of restricted stock units ('RSUs') that entitled the holder to subscribe for an ordinary share of one penny nominal value at a subscription price of one penny per ordinary share.  The RSUs were granted under the Company's 2017 Remuneration Policy and were eligible for exercise for a limited time after completion of a vesting period of one year. Details of the exercise of the RSUs, all of which took place on 18 July 2018, and which have been duly notified to the Company, are summarised below.

DirectorPositionRSU's Exercised
Frank ArmstrongNon-Executive Chairman41,096
Barry PriceNon-Executive Director19,179
Stephen DaviesNon-Executive Director19,179
Leopoldo ZambelettiNon-Executive Director19,179
Valerie AndrewsNon-Executive Director19,179
Dave WurzerNon-Executive Director19,179
Total 136,991

Summit has also been notified that Barry Price and Leopoldo Zambeletti have sold 9,851 and 11,286 ordinary shares, at a price of 36.5 pence per ordinary share for the two separate transactions, to cover the tax and other charges associated with the exercise of the RSUs.

Following the exercise of the RSUs, the shareholdings of the Non-Executive Directors are as follows:

DirectorPosition Shareholding
(ordinary shares)
% of Issued Share Capital
Frank ArmstrongNon-Executive Chairman80,538*0.10%
Barry PriceNon-Executive Director116,5390.14%
Stephen DaviesNon-Executive Director621,6600.76%
Leopoldo ZambelettiNon-Executive Director7,8930.01%
Valerie AndrewsNon-Executive Director29,6790.04%
Dave WurzerNon-Executive Director26,6790.03%
Total 882,9881.08%

* Includes shares held by persons closely associated with the director

Application has been made to the London Stock Exchange for the admission of 136,991 ordinary shares to trading on AIM and it is expected that admission will become effective and that dealings will commence at 8.00 a.m. on 24 July 2018.

Following the exercise of these RSUs, the total number of ordinary shares following admission will be 82,125,995 with each ordinary share carrying the right to one vote. The Company has no shares in Treasury; therefore following admission the total number of voting rights in Summit will be 82,125,995. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify an interest in, or change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

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

About Summit Therapeutics
Summit Therapeutics is a leader in antibiotic innovation. Our new mechanism antibiotics are designed to become the new standards of care for the benefit of patients, and create value for payors and healthcare providers. We are currently developing new mechanism antibiotics for C. difficile infection and gonorrhoea and are using our proprietary Discuva Platform to expand our pipeline. For more information, visit www.summitplc.com and follow us on Twitter @summitplc.
For more information, please contact:

Summit    
Glyn Edwards / Richard Pye (UK office) Tel: 44 (0)1235 443 951
Erik Ostrowski / Michelle Avery (US office)   +1 617 225 4455
     
Cairn Financial Advisers LLP (Nominated Adviser) Tel: +44 (0)20 7213 0880
Liam Murray / Tony Rawlinson    

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

1 Details of the persons discharging managerial responsibilities/person closely associated
a)Name
  1. Frank Armstrong
     
  2. Barry Price
     
  3. Stephen Davies
     
  4. Leopoldo Zambeletti
     
  5. Valerie Andrews
     
  6. Dave Wurzer
2 Reason for the notification
a)Position / status
  1. Non-Executive Chairman
     
  2. Non-Executive Director
     
  3. Non-Executive Director
     
  4. Non-Executive Director
     
  5. Non-Executive Director
     
  6. Non-Executive Director
b)Initial notification / AmendmentInitial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)NameSummit Therapeutics plc
b)LEI213800NRW8AOMYMTBD89
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 instrumentOrdinary shares of 1 penny each
  
Identification codeGB00BN40HZ01
b)Nature of the transactionsExercise of restricted stock units (RSUs) to subscribe for ordinary shares of one penny nominal value
c)Price(s) and volume(s)  Price(s) Volume(s)  
(i)-(vi) 1p (exercise price)
       

 
  1. 41,096
          
(ii)-(vi) 19,179
 
d) Aggregated information

 

- Aggregated volume

 

- Price
 

 

136,991 ordinary shares

 

1 penny (exercise price)

 
e)Date of the transactions18 July 2018
f)Place of the transactionsOutside a trading venue

1 Details of the persons discharging managerial responsibilities/person closely associated
a)Name
  1. Barry Price
     
  2. Leopoldo Zambeletti
2 Reason for the notification
a)Position / status
  1. Non-Executive Director
     
  2. Non-Executive Director
b)Initial notification / AmendmentInitial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)NameSummit Therapeutics plc
b)LEI213800NRW8AOMYMTBD89
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 instrumentOrdinary shares of 1 penny each
  
Identification codeGB00BN40HZ01
b)Nature of the transactionsSale of ordinary shares of one penny nominal value
c)Price(s) and volume(s)  Price(s) Volume(s)  
  1. 36.5 pence
  2. 36.5 pence
  1. 9,851
  2. 11,286
 
d) Aggregated information

 

- Aggregated volume

 

- Average Price
 

 

21,137 ordinary shares

 

36.5 pence

 
e)Date of the transactions18 July 2018
f)Place of the transactionsLondon Stock Exchange

-END-



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Summit Therapeutics plc via GlobeNewswire
HUG#2206061
GlobeNewswire
globenewswire.com

Last updated on: 20/07/2018

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