REG - Redx Pharma plc - New Grant of Options
23/02/2024 07:00
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RNS Number : 1855E Redx Pharma plc 23 February 2024
REDX PHARMA PLC
("Redx" or the "Company")
New Grant of Options
Alderley Park, UK, 23 February 2024 Redx (AIM:REDX), the clinical-stage
biotechnology company focused on discovering and developing novel, small
molecule, targeted therapeutics for the treatment of fibrotic disease and
cancer, today announces a new grant of options.
The Board has granted additional options to Lisa Anson (Chief Executive
Officer), Peter Collum (Chief Financial Officer), James Mead (Chief Operating
Officer) and Claire Solk, (General Counsel) on 23 February 2024, all of whom
are classed as persons discharging managerial responsibility ("PDMRs") 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 19 pence per Ordinary Share, being
the market price at the close of business on 22 February 2024. Subsequent
vesting will be subject to certain time criteria having been met.
Name Position Number of Options Granted Vesting Date Total Options Held Following the Grant
Lisa Anson (Director/PDMR) Chief Executive Officer 2,000,000 23 February 2027 16,883,586
Peter Collum Chief Financial Officer 1,000,000 23 February 2027 4,200,000
(PDMR)
James Mead Chief Operating Officer 200,000 23 February 2027 2,700,000
(PDMR)
Claire Solk General Counsel 200,000 23 February 2027 1,450,000
(PDMR)
In addition, options over a further 1,050,000 Ordinary Shares of 1 pence each
have been granted on 23 February 2024 to certain other staff of the Company.
These options will also be granted at 19 pence per Ordinary Share, with
vesting also subject to certain time criteria having been met.
Following the grants referred to above, the Company will have granted options
over a total of 47,929,627 Ordinary Shares, representing 12.3 per cent. of the
share capital in issue. The number of options that may be awarded remains
limited such that the aggregate number of Ordinary Shares of 1p 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 Lisa Anson
2. Reason for the notification
a) Position / status Chief Executive 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 under the Redx All Employee Share Option Scheme
c) Prices(a) and volume(s)
Exercise Price per Ordinary Share Volume
19 pence 2,000,000 Ordinary Shares
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 23 February 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
23 February 2024
f)
Place of the transaction
Outside a trading venue
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
19 pence 1,000,000 Ordinary Shares
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 23 February 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
23 February 2024
f)
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities (PDMR) / person
closely associated
a) Name James Mead
2. Reason for the notification
a) Position / status Chief Operating 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 under the Redx All Employee Share Option Scheme
c) Prices(a) and volume(s)
Exercise Price per Ordinary Share Volume
19 pence 200,000 Ordinary Shares
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 23 February 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
23 February 2024
f)
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities (PDMR) / person
closely associated
a) Name Claire Solk
2. Reason for the notification
a) Position / status General Counsel
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 under the Redx All Employee Share Option Scheme
c) Prices(a) and volume(s)
Exercise Price per Ordinary Share Volume
19 pence 200,000 Ordinary Shares
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 23 February 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
23 February 2024
f)
Place of the transaction
Outside a trading venue
For further information, please contact:
Redx Pharma Plc T: +44 (0)1625 469 918
UK Headquarters
Caitlin Pearson, Head of Communications ir@redxpharma.com
(mailto:ir@redxpharma.com)
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, targeted therapeutics
for the treatment of fibrotic disease, cancer and the emerging area of
cancer-associated fibrosis. Redx aims to progress its programmes to clinical
proof of concept before evaluating options for further development and
potential value creation. The Company's lead fibrosis product candidate, the
selective ROCK2 inhibitor, zelasudil (RXC007), is in development for
interstitial lung disease and is undergoing a Phase 2a trial for idiopathic
pulmonary fibrosis (IPF) with topline data expected in H1 2024. The Company's
second fibrosis candidate, RXC008, a GI-targeted ROCK inhibitor for the
treatment of fibrostenotic Crohn's disease, is progressing towards the clinic
with a Clinical Trial Application (CTA) submitted during Q4 2023. Redx's lead
oncology product candidate, the Porcupine inhibitor RXC004, being developed as
a targeted treatment for Wnt-ligand dependent cancers, is expected to report
anti-PD-1 combination Phase 2 data during the first half of 2024, following
which Redx will seek a partner for ongoing development.
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 wholly-owned clinical-stage
product candidates and discovery pipeline, but also by its strategic
transactions, which includes the sale of pirtobrutinib (RXC005, LOXO-305), the
only non-covalent or reversible BTK inhibitor now approved by the US FDA, and
transactions with both AstraZeneca and 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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