REG - Redx Pharma plc - New Grant of Options

Redx PharmaAnnouncement

20/05/2022 07:00

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RNS Number : 1869M  Redx Pharma plc  20 May 2022

Redx Pharma plc

("Redx" or "the Company")

 

New Grant of Options

 

Alderley Park, 20 May 2022 Redx (AIM:REDX), the clinical stage biotechnology
company focused on discovering and developing novel, small molecule, highly
targeted therapeutics for the treatment of cancer and fibrotic disease,
announces that the Board has authorised the conditional grant of options to
Peter Collum (Chief Financial Officer). Peter Collum is classed as a person
discharging managerial responsibility ("PDMR") under EU Regulation 596/2014 as
it forms part of domestic law in the United Kingdom by virtue of the European
Union (Withdrawal) Act 2018, as set out further below.

 

The options are being granted at 60 pence per Ordinary Share, being the market
price at close of business on Thursday 19 May, with the grant becoming
unconditional once the Placing Shares announced yesterday have been admitted
to trading on AIM, which is dependent, inter alia, on the passing by
Shareholders of certain resolutions at the General Meeting of the Company
being convened at 11.00 a.m. on 6 June 2022.

 

Once the option grant becomes unconditional, any subsequent vesting will be
subject only to certain time criteria having been met.

 

 

 Name                 Position                 Number of Options Conditionally Granted  Vesting Date  Total Options Held Following the Conditional Grant
 Peter Collum (PDMR)  Chief Financial Officer  300,000                                  19 May 2025   1,800,000

 

 

 

Following the grants referred to above, and assuming the associated conditions
are met in relation to the conditional grant, the Company will have granted
options over a total of 38,251,728 Ordinary Shares representing 11.5 per cent.
of the share capital in issue following completion of the Placing and the
associated issue of 58,070,956 Ordinary Shares. The number of options that may
be awarded under the Redx All Employee Share Option Scheme, and all prior
share incentive plans, remains limited such that the aggregate number of
Ordinary Shares of 1 pence each under option will be less than 15 per cent. of
the total issued share capital of the Company.

 

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 (PDMR) / person
     closely associated
 a)  Name                                                         Peter Collum

 2.  Reason for the 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  Options over Ordinary Shares of 1 pence each in Redx Pharma plc

     Identification code                                          ISIN for Redx Pharma plc Ordinary Shares:

                                                                  GB00BSNB6S51

 b)  Nature of the transaction                                    Grant of options
 c)  Prices(a) and volume(s)

Exercise Price Per Ordinary Share  Volume
                                                                  60 pence                           300,000 Ordinary Shares

 

 d)  Aggregated information

     - Aggregated volume                                          N/A

     - Price
 e)  Date of the transaction                                      19 May 2022
 f)  Place of the transaction                                     Outside a trading venue

 

 

d)

Aggregated information

- Aggregated volume

- Price

 

N/A

e)

Date of the transaction

19 May 2022

f)

Place of the transaction

Outside a trading venue

 

 

 

 For further information, please contact:

 Redx Pharma Plc                                             T: +44 (0)1625 469 918

 Caitlin Pearson, Head of Communications ir@redxpharma.com
 (mailto:ir@redxpharma.com)

 UK Headquarters

 Lisa Anson, Chief Executive Officer
 US Office

 Peter Collum, Chief Financial Officer

 SPARK Advisory Partners (Nominated Adviser)                 T: +44 (0)203 368 3550
 Matt Davis/ Adam Dawes

 WG Partners LLP (Joint Broker)                              T: +44 (0)203 705 9330
 Claes Spång/ Satheesh Nadarajah/ David Wilson

 Panmure Gordon (UK) Limited (Joint Broker)                  T: +44 (0)207 886 2500
 Rupert Dearden/ Freddy Crossley/ Emma Earl

 FTI Consulting                                              T: +44 (0)203 727 1000
 Simon Conway/ Ciara Martin

 

About Redx Pharma Plc

Redx Pharma (AIM: REDX) is a clinical-stage biotechnology company focused on
the discovery and development of novel, small molecule, highly targeted
therapeutics for the treatment of cancer and fibrotic diseases, aiming
initially to progress them to clinical proof of concept before evaluating
options for further development and potential value creation. Redx's lead
oncology product candidate, the Porcupine inhibitor RXC004, commenced a Phase
2 programme in November 2021. The Company's selective ROCK2 inhibitor product
candidate, RXC007, is in development for idiopathic pulmonary fibrosis and
commenced a Phase 1 clinical trial in June 2021. Encouraging safety and
pharmacokinetic data has been reported, and a Phase 2 clinical program is
confirmed to start in 2022. Redx's third drug candidate, RXC008, a GI-targeted
ROCK inhibitor for the treatment of fibrostenotic Crohn's disease, is
currently in pre-IND stage, with Phase 1 clinical studies expected to commence
in 2023.

 

The Company has a strong track record of discovering new drug candidates
through its core strengths in medicinal chemistry and translational science,
enabling the Company to discover and develop differentiated therapeutics
against biologically or clinically validated targets. The Company's
accomplishments are evidenced not only by its two wholly-owned clinical-stage
product candidates and rapidly expanding pipeline, but also by its strategic
transactions, including the sale of pirtobrutinib (RXC005, LOXO-305), a BTK
inhibitor now in Phase 3 clinical development by Eli Lilly following its
acquisition of Loxo Oncology and RXC006, a Porcupine inhibitor targeting
fibrotic diseases including idiopathic pulmonary fibrosis (IPF), which
AstraZeneca is progressing in a Phase 1 clinical study. In addition, Redx has
forged collaborations with Jazz Pharmaceuticals.

 

To subscribe to Email Alerts from Redx, please visit:
www.redxpharma.com/investor-centre/email-alerts/
(http://www.redxpharma.com/investor-centre/email-alerts/)

 

 

 

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