Summit Therapeutics plc
("Summit" or the "Company")
Non-Executive Director Share Option Update
Oxford, UK, 10 April 2018 - Summit Therapeutics plc (AIM: SUMM, NASDAQ: SMMT), the drug discovery and development company advancing therapies for Duchenne muscular dystrophy and Clostridium difficile infection, announces that its Non-Executive Directors have surrendered share options as described in the table below.
The Non-Executive Directors chose to surrender the 2015 options in order to advance the Company's objective of meeting best UK corporate governance practice, which favours non-performance remuneration, such as restricted stock units, for Non-Executive Directors. The surrendered share options were awarded in June 2015 and had not yet vested.
The remaining outstanding share options indicated in the table have vested, and the Non-Executive Directors who hold those options have stated an intention to exercise them in full when an appropriate trading window opens during the current financial year.
|Number of options Surrendered||Number of Outstanding Options held|
|Frank Armstrong||Non-Executive Chairman||50,000||37,500|
|Barry Price||Non-Executive Director||25,000||31,481|
|Stephen Davies||Non-Executive Director||25,000||17,500|
|Leopoldo Zambeletti||Non-Executive Director||25,000||Nil|
|Valerie Andrews||Non-Executive Director||25,000||Nil|
|David Wurzer||Non-Executive Director||25,000||Nil|
About Summit Therapeutics
Summit is a biopharmaceutical company focused on the discovery, development and commercialisation of novel medicines for indications for which there are no existing or only inadequate therapies. Summit is conducting clinical programs focused on the genetic disease, Duchenne muscular dystrophy, and the infectious disease, Clostridium difficile infection. Further information is available at www.summitplc.com and Summit can be followed on Twitter (@summitplc).
For more information, please contact:
|Glyn Edwards / Richard Pye (UK office)||Tel:||44 (0)1235 443 951|
|Erik Ostrowski / Michelle Avery (US office)||+1 617 225 4455|
|Cairn Financial Advisers LLP (Nominated Adviser)||Tel:||+44 (0)20 7213 0880|
|Liam Murray / Tony Rawlinson|
|N+1 Singer (Joint Broker)||Tel:||+44 (0)20 7496 3000|
|Aubrey Powell / Jen Boorer|
|Panmure Gordon (Joint Broker)||Tel:||+44 (0)20 7886 2500|
|Freddy Crossley, Corporate Finance|
|Tom Salvesen, Corporate Broking|
|MacDougall Biomedical Communications (US)||Tel:||+1 781 235 3060|
|Karen Sharma||[email protected]|
|Consilium Strategic Communications (UK)||Tel:||+44 (0)20 3709 5700|
|Mary-Jane Elliott / Jessica Hodgson /||[email protected]|
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (MAR).
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Summit Therapeutics plc via Globenewswire