Summit Therapeutics plc
(“Summit Therapeutics” or the “Company”)
Notification of Transactions of Persons Discharging Managerial Responsibilities
Oxford, UK, and Cambridge, MA, US, 15 January 2020 - Summit Therapeutics (AIM: SUMM, NASDAQ: SMMT), a leader in antibiotic innovation, announces that it has received notification that on 14 January 2020, Mr Robert W. Duggan, a Non-Executive Director of the Company, sold a total of 33,321,870 ordinary shares and transferred a total of 4,998,279 warrants to various trusts as detailed below.
| Name of Trust | Number of Ordinary Shares Sold | Sale Price per Ordinary Share* | Number of Warrants Transferred |
| Daniel Douglas Duggan Trust | 1,753,780 | 22.1 pence | 263,067 |
| Dante Eon Duggan Trust | 1,753,780 | 22.1 pence | 263,067 |
| David Michael Duggan Trust | 1,753,780 | 22.1 pence | 263,067 |
| Diamond Augustus Duggan Trust | 1,753,780 | 22.1 pence | 263,067 |
| Diana Star Duggan Trust | 1,753,780 | 22.1 pence | 263,067 |
| Dsara Ann Duggan Trust | 1,753,780 | 22.1 pence | 263,067 |
| Dylan Duke Duggan Trust | 1,753,780 | 22.1 pence | 263,067 |
| Mahkam Zanganeh Revocable Trust | 10,522,705 | 22.1 pence | 1,578,405 |
| Shaun Zanganeh Irrevocable Trust | 10,522,705 | 22.1 pence | 1,578,405 |
| Total | 33,321,870 | 4,998,279 |
* The sale price per ordinary share has been converted from US Dollars at an exchange rate of $1.2900 to £1.00.
Following the completion of these dealings, Mr Duggan has the following interest in the Company’s ordinary shares and warrants, respectively:
| Shareholding | % of Issued Share Capital | Warrants | ||
| Robert W. Duggan | Non-Executive Director | 211,123,385 | 62.85% | 19,925,276 |
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person responsible for arranging for the release of this announcement on behalf of the Company is Richard Pye, Vice President, Investor Relations and Corporate Affairs.
About Summit Therapeutics
Summit Therapeutics is a leader in antibiotic innovation. Our new mechanism antibiotics are designed to become the new standards of care for the benefit of patients and create value for payors and healthcare providers. We are currently developing new mechanism antibiotics to treat infections caused by C. difficile, N. gonorrhoeae and Enterobacteriaceae and are using our proprietary Discuva Platform to expand our pipeline. For more information, visit www.summitplc.com and follow us on Twitter @summitplc.
For more information, please contact:
| Summit | ||
| Glyn Edwards / Richard Pye (UK office) | Tel: | 44 (0)1235 443 951 |
| Michelle Avery (US office) | +1 617 225 4455 | |
| Cairn Financial Advisers LLP (Nominated Adviser) | Tel: | +44 (0)20 7213 0880 |
| Liam Murray / Tony Rawlinson / Ludovico Lazzaretti | ||
| N+1 Singer (Joint Broker) | Tel: | +44 (0)20 7496 3000 |
| Aubrey Powell / George Tzimas, Corporate Finance Tom Salvesen, Corporate Broking | ||
| Bryan Garnier & Co Limited (Joint Broker) | Tel: | +44 (0)20 7332 2500 |
| Phil Walker / Dominic Wilson | ||
| MSL Group (US) | Tel: | +1 781 684 6552 |
| Erin Anthoine | summit@mslgroup.com | |
| Consilium Strategic Communications (UK) | Tel: | +44 (0)20 3709 5700 |
| Mary-Jane Elliott / Sue Stuart / Sukaina Virji / Lindsey Neville | summit@consilium-comms.com |
The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.
| 1 | Details of the persons discharging managerial responsibilities/person closely associated | ||||
| a) | Name | (i) Robert W. Duggan | |||
| 2 | Reason for the notification | ||||
| a) | Position / status | (i) Non-Executive Director | |||
| b) | Initial notification / Amendment | Initial notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Summit Therapeutics plc | |||
| b) | LEI | 213800NRW8AOMYMTBD89 | |||
| 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 | Ordinary shares of 1 penny each | |||
| Identification code | GB00BN40HZ01 | ||||
| b) | Nature of the transactions | Sale of ordinary shares of one penny nominal value | |||
| c) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
| (i) 22.1p (exercise price) | (i) 33,321,870 | ||||
| d) | Aggregated information - Aggregated volume - Price | 33,321,870 ordinary shares 22.1 pence | |||
| e) | Date of the transactions | 14 January 2020 | |||
| f) | Place of the transactions | Outside a trading venue | |||
| 1 | Details of the persons discharging managerial responsibilities/person closely associated | ||||
| a) | Name | (ii) Robert W. Duggan | |||
| 2 | Reason for the notification | ||||
| a) | Position / status | (ii) Non-Executive Director | |||
| b) | Initial notification / Amendment | Initial notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Summit Therapeutics plc | |||
| b) | LEI | 213800NRW8AOMYMTBD89 | |||
| 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 | Ordinary shares of 1 penny each | |||
| Identification code | GB00BN40HZ01 | ||||
| b) | Nature of the transactions | Transfer of warrants to subscribe for ordinary shares of one penny nominal value | |||
| c) | Price(s) and volume(s) | Price(s) | Volume(s) | ||
| (i) n/a | (ii) 4,998,279 | ||||
| d) | Aggregated information - Aggregated volume - Price | 4,998,279 warrants to subscribe for ordinary shares n/a | |||
| e) | Date of the transactions | 14 January 2020 | |||
| f) | Place of the transactions | Outside a trading venue | |||
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