TIDMINC

RNS Number : 7105V

Incanthera PLC

16 April 2021

16 April 2021

Incanthera plc

("Incanthera" or the "Company")

Grant of options

Incanthera plc, the specialist oncology company focused on innovative technologies in oncology and dermatology, announces the grant of the following further options on 15 April 2021, under both its approved and unapproved share option schemes (the "Schemes").

The Company has granted 1,575,000 options in aggregate to Directors, PDMRs and consultants.

Details of the grants to directors and PDMRs are as follows:

 
  Option holder (scheme)             Number   Exercise Price     Options Granted 
                                         of                     as Percentage of 
                                    Options                       Current Issued 
                                    granted                        Share Capital 
  Tim McCarthy (Approved)           275,000              20p               0.37% 
  Simon Ward (Approved)             275,000              20p               0.37% 
   Pawel Zolnierczyk (Approved)     275,000              20p               0.37% 
    Suzanne Brocks (Approved)       275,000              20p               0.37% 
    Laura Brogden (Unapproved)      275,000              20p               0.37% 
 

Option Schemes and Grant of Options

The Company adopted the Schemes in 2020, to incentivise management performance for the benefit of all shareholders by way of options which are subject to time and performance conditions.

For the purposes of the Schemes, a maximum of 10 per cent. of the Company's issued share capital in aggregate, from time to time, may be issued.

Vesting criteria for options granted under the Schemes are subject to time and performance conditions as follows:

 
 
   Amount Vesting            Time Condition 
  36 per cent. ("Tranche   On the first anniversary 
   One")                    of the date of the grant 
  32 per cent. ("Tranche   On the second anniversary 
   two")                    of the date of the grant 
  32 per cent. ("Tranche   On the third anniversary 
   three")                  of the date of the grant 
 

Performance Condition: Entering into a commercial agreement relating to its intellectual property.

The Schemes provide for good/bad leaver provisions and other standard terms normally associated with such schemes.

Following the grant of options above, the Company will have in total outstanding options over 7,350,000 ordinary shares, representing 9.9 per cent. of the Company's issued share capital.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).

For further information, please contact:

Incanthera plc

www.incanthera.com

Tim McCarthy, Chairman +44 (0) 7831 675747

tim.mccarthy@incanthera.com

Simon Ward, Chief Executive Officer +44 (0) 7747 625506

simon.ward@incanthera.com

Suzanne Brocks, Head of Communications +44 (0) 7776 234600

suzanne.brocks@incanthera.com

AQSE Corporate Adviser:

Cairn Financial Advisers LLP

Jo Turner / James Lewis +44 (0) 20 7213 0880

Broker:

Stanford Capital Partners Ltd

Patrick Claridge / John Howes / Bob Pountney +44 (0) 20 3815 8880

Notification and public disclosure of transactions by persons discharging managerial responsibilities/ person closely associated with them.

 
 1.   Details of the person discharging managerial responsibilities/person 
       closely associated 
       Name 
                                               1. Tim McCarthy        Chairman 
                                               2. Simon Ward          CEO 
                                               3. Pawel Zolnierczyk   PDMR 
                                               4. Suzanne Brocks      PDMR 
                                               5. Laura Brogden       PDMR 
                                                                     --------- 
     -------------------------------  ---------------------------------------- 
 2.   Reason for the notification 
     ------------------------------------------------------------------------- 
 a)   Position/status                  As above 
     -------------------------------  ---------------------------------------- 
 b)   Initial notification/Amendment   Initial Notification 
     -------------------------------  ---------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------- 
 a)   Name                             Incanthera plc 
     -------------------------------  ---------------------------------------- 
 b)   LEI                              2138002HEV4UFBOEXQ97 
     -------------------------------  ---------------------------------------- 
 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     Options over ordinary shares 
       instrument 
     -------------------------------  ---------------------------------------- 
 b)   Identification code              GB00BGL7YW15 
     -------------------------------  ---------------------------------------- 
 c)   Nature of the transactions       Grant of Options 
     -------------------------------  ---------------------------------------- 
 d)   Volumes and Prices                     Volume        Price 
                                               1. 275,000   20p 
                                                           ------ 
                                               2. 275,000   20p 
                                                           ------ 
                                               3. 275,000   20p 
                                                           ------ 
                                               4. 275,000   20p 
                                                           ------ 
                                               5. 275,000   20p 
                                                           ------ 
     -------------------------------  ---------------------------------------- 
 e)   Aggregated information              Volume     Prices 
       - Aggregated volume                1,375,000   20p 
       - Price                                       ------- 
     -------------------------------  ---------------------------------------- 
 f)   Date of the transactions         15 April 2021 
     -------------------------------  ---------------------------------------- 
 f)   Place of the transactions        AQSE Growth Market, UK 
     -------------------------------  ---------------------------------------- 
 

Notes to Editors

Incanthera is a specialist oncology company focused on transforming cancer treatment by creating environments in which cancer cannot survive. It seeks to identify and develop innovative solutions to current clinical, commercially relevant unmet needs, utilising new technology from leading academic institutions.

The Company's current lead product and focus is Sol, a potentially innovative topical product for the treatment of solar keratosis and the prevention of skin cancers. This has achieved proof of concept and the Company is now focussed upon delivering Sol to a commercial partner.

The Company originated from the Institute of Cancer Therapeutics ("ICT") at the University of Bradford and has acquired and developed a portfolio of specific cancer-targeting therapeutics through a Pipeline Agreement with the ICT and other corporate acquisitions.

Incanthera's strategy is to develop each candidate in the portfolio from initial acquisition or discovery to securing its future through commercially valuable partnerships at the earliest opportunity in its development pathway.

For more information on the Company please visit: www.incanthera.com

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END

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April 16, 2021 02:00 ET (06:00 GMT)

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