REG - BiVictriX Therapcts. - Grant of Options – PDMR/Director Dealings

Bivictrix TherapeuticsAnnouncement

28/03/2024 07:00

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RNS Number : 5998I  BiVictriX Therapeutics PLC  28 March 2024

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

BIVICTRIX THERAPEUTICS PLC

("BiVictriX" or the "Company")

 

Grant of Options

PDMR/Director Dealings

 

Alderley Park, 28 March 2024 - BiVictriX Therapeutics plc (AIM: BVX), an
emerging biotechnology company applying a differentiated approach to develop
novel, next-generation anti-cancer precision Antibody Drug Conjugates,
offering substantially improved cancer cell selectivity and therapeutic
activity, announces a grant of options over an aggregate of 2,650,000 ordinary
shares of 1 pence each in the capital of the Company (the "Options").

 

The Options have been awarded upon the recommendation of the Company's
Remuneration Committee and pursuant to the terms of the Company's Share Option
Plan (see below).

 

All of the Options are being granted to Directors/PDMRs of the Company as
follows:

 

 Director/PDMR     Options granted
 Michael Kauffman  400,000
 Drummond Paris    200,000
 Robert Hawkins    200,000
 Adrian Howd       1,800,000
 Alison Halsall    50,000

 

The Options have an exercise price of 11.75 pence each, and vest over 3 years,
subject to the achievement of strategic corporate and financial goals. The
Options will expire 10 years from the date of grant.

 

Following this grant of Options, the total number of ordinary shares under
option is 9,353,335, representing 11.3 per cent. of the Company's total issued
share capital.

 

Amendments to the Share Option Plan

 

The board of directors recently approved various amendments to the Company's
Enterprise Management Incentive (EMI) Share Option Plan, as adopted in August
2021, at the time of the Company's Admission to trading on AIM (the "Share
Option Plan"). The main amendments to the Share Option Plan, as referred to in
more detail below, are in relation to the vesting and exercise of share
options and unapproved share options granted after 1 January 2024 on
termination of employment or office and on takeover or liquidation.

 

Termination of employment or office

 

An option holder who gives or receives notice of termination of employment may
exercise their options over vested shares. If an option holder dies, the
personal representative of the option holder may exercise the option over all
of the option shares, within 12 months after death.  Thereafter, the option
shall lapse. If an option holder leaves as a good leaver, they may, at the
board's discretion, exercise the option over all of the option shares within a
period determined by the board to be no shorter than 90 days. Thereafter, the
option shall lapse if not exercised.

 

Takeover or liquidation

 

On (i) a change of control; (ii) a court sanctioned compromise or arrangement
under section 899 or 901F Companies Act 2006; or (iii) where a person is bound
or entitled to acquire shares under section 979 to 982 or 983 to 985 Companies
Act 2006 the board may at its absolute discretion decide that the option may
be exercised in full.

 

Non-Employee Share Option Plan

 

The board of directors also recently approved the adoption of a new share
option plan solely for non-employees of the Company, based upon the same rules
of the amended Share Option Plan (the "Non-Employee Share Option Plan").  The
Non-Employee Share Option Plan was adopted to enable the Company to grant
options to non-employees, such as non-executive directors and enable the Share
Option Plan to remain as an employee share scheme under section 1166 Companies
Act 2006.

 

 ENDS

 For more information, please contact:

BiVictriX Therapeutics plc
 Tiffany Thorn, Chief Executive Officer

 Michael Kauffman, Non-Executive Chairman                            Email: info@bivictrix.com (mailto:info@bivictrix.com)

 SP Angel Corporate Finance LLP (NOMAD and Broker)                     Tel: +44 (0) 20 3470 0470
 David Hignell, Caroline Rowe, Kasia Brzozowska (Corporate Finance)

 Vadim Alexandre, Rob Rees (Sales and Broking)

 Panmure Gordon (UK) Limited (Joint Broker)                            Tel: +44 (0) 20 7886 2500
 Rupert Dearden/Freddy Crossley/Emma Earl

 ICR Consilium
 Mary-Jane Elliott, Namrata Taak                                     Tel: +44 (0) 20 3709 5700

 Max Bennett, Emmalee Hoppe                                          Email: Bivictrix@consilium-comms.com (mailto:Bivictrix@consilium-comms.com)

 

 

About BiVictriX Therapeutics plc

BiVictriX is a UK-based drug discovery and development company which is
focused on leveraging clinical experience to develop a new class of highly
selective, next generation cancer therapeutics which exhibit superior potency,
whilst significantly reducing treatment-related toxicities.

 

The Company utilises a first-in-class approach to generate a proprietary
pipeline of Bi-Cygni® Antibody Drug Conjugate therapeutics which are designed
to selectively target cancer-specific antigen pairs, or "Bi-Cygni®
fingerprints", on tumour cells, which are largely absent from healthy cells.

 

BiVictriX has established a growing proprietary library of cancer-specific
Bi-Cygni® fingerprints, which enable the Company to target a diverse array of
different cancer types. The Company utilises these novel Bi-Cygni®
fingerprints, together with the Company's novel Antibody Drug Conjugate
therapeutic design, to develop more effective and safer therapeutics to target
cancers that are expected to constitute orphan indications and areas of high
unmet medical need.

 

Find out more about BiVictriX online at www.bivictrix.com
(http://www.bivictrix.com/)

 

 

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                                                         1)  Michael Kauffman

                                                                    2)  Drummond Paris

                                                                    3)  Robert Hawkins

                                                                    4)  Adrian Howd

                                                                    5)  Alison Halsall
 2.    Reason for the Notification
 a)    Position/status                                              1)    Chairman

                                                                    2)    Non-Executive Director

                                                                    3)    Non-Executive Director

                                                                    4)    Chief Financial Officer & Chief Business Officer

                                                                    5)    Financial Controller & HR Manager

 b)    Initial notification/Amendment                               Initial notification
 3.    Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a)    Name                                                         BiVictriX Therapeutics plc
 b)    LEI                                                          213800ZI85IZNA6N3L53
 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  Ordinary Shares of 1 pence each

                                                                    GB00BNXH3K91
       Identification code
 b)    Nature of the transaction                                    Grant of Options
 c)    Price(s) and volume(s)                                       All Options have an exercise price of 11.75 pence

Volume of Options
                                                                    1)    400,000

                                                                    2)    200,000

                                                                    3)   200,000

                                                                    4)   1,800,000

                                                                    5)    50,000
 d)    Aggregated information:

       -  Aggregated volume

       -  Price                                                     Volume: 2,650,000 Options

                                                                    Exercise price of all Options: 11.75 pence
 e)    Date of the transaction                                       27(th) March 2024
 f)    Place of the transaction                                     Outside a trading venue

d)

Aggregated information:

-  Aggregated volume

-  Price

 

 

Volume: 2,650,000 Options

 

 

Exercise price of all Options: 11.75 pence

e)

Date of the transaction

 27(th) March 2024

f)

Place of the transaction

Outside a trading venue

 

 

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