Redx Pharma plc New Grant of Options (4626E)
June 30 2023 - 2:00AM
UK Regulatory
TIDMREDX
RNS Number : 4626E
Redx Pharma plc
30 June 2023
REDX PHARMA PLC
("Redx" or the "Company")
New Grant of Options
Alderley Park, UK, 30 June 2023 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, a nnounces a new grant of
options.
The Board has granted additional options to Lisa Anson (Chief
Executive Officer) and Peter Collum (Chief Financial Officer) on 30
June 2023, both 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 26.5 pence per Ordinary Share,
being the market price at the close of business on 29 June 2023.
Subsequent vesting will be subject to certain time criteria having
been met.
Name Position Number of Options Vesting Date Total Options
Granted Held Following
the Grant
Lisa Anson Chief Executive
(Director/PDMR) Officer 500,000 30 June 2026 14,883,586
Peter Collum Chief Financial
(PDMR) Officer 500,000 30 June 2026 3,200,000
In addition, options over a further 2,000,000 Ordinary Shares of
1 pence each will be granted on 30 June 2023 to certain other staff
of the Company. These options will also be granted at 26.5 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 48,221,295 Ordinary Shares,
representing 14.4 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 Initial notification
/ Amendment
------------------------- ------------------------------------------------------
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 Options over Ordinary Shares of 1 pence
financial instrument, each in Redx Pharma plc
type of instrument
ISIN for Redx Pharma plc Ordinary Shares:
Identification code 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 Volume
Share
26.5 pence 500,000 Ordinary Shares
-----------------------
------------------------- ------------------------------------------------------
d) Aggregated information
- Aggregated volume N/A
- Price
------------------------- ------------------------------------------------------
e) Date of the transaction 30 June 2023
------------------------- ------------------------------------------------------
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 Initial notification
/ Amendment
------------------------- ---------------------------------------------
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 Options over Ordinary Shares of 1 pence
financial instrument, each in Redx Pharma plc
type of instrument
ISIN for Redx Pharma plc Ordinary Shares:
Identification code GB00BSNB6S51
------------------------- ---------------------------------------------
b) Nature of the transaction Grant of options
------------------------- ---------------------------------------------
c) Prices(a) and volume(s) Exercise Price per Volume
Ordinary Share
26.5 pence 500,000 Ordinary Shares
-----------------------
------------------------- ---------------------------------------------
d) Aggregated information
- Aggregated volume N/A
- Price
------------------------- ---------------------------------------------
e) Date of the transaction 30 June 2023
------------------------- ---------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------- ---------------------------------------------
For further information, please
contact:
Redx Pharma Plc T: +44 (0)1625 469
UK Headquarters 918
Caitlin Pearson, Head of Communications
ir@redxpharma.com
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, targeted therapeutics for the treatment of fibrotic
disease, cancer and the emerging area of cancer-associated
fibrosis, aiming initially to progress them 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 commenced a Phase 2a
trial for idiopathic pulmonary fibrosis (IPF) in October 2022, with
topline data expected in Q1 2024. 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 combination with anti-PD-1 Phase 2 data during 2023. Redx's
third drug candidate, RXC008, a GI-targeted ROCK inhibitor for the
treatment of fibrostenotic Crohn's disease, is progressing towards
a CTA application at the end of 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
non-covalent (reversible) BTK inhibitor now approved by the US FDA
for adult patients with mantle cell lymphoma previously treated
with a covalent BTK inhibitor, and AZD5055/RXC006, a Porcupine
inhibitor targeting fibrotic diseases including IPF, which
AstraZeneca is progressing in a Phase 1 clinical study. In
addition, Redx has forged collaborations with Jazz Pharmaceuticals,
which includes JZP815, a pan-RAF inhibitor developed by Redx which
Jazz is now progressing through Phase 1 clinical studies, and an
early stage oncology research collaboration.
To subscribe to Email Alerts from Redx, please visit:
www.redxpharma.com/investor-centre/email-alerts/ .
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END
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