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 TrustNumber of Ordinary Shares SoldSale Price per Ordinary Share*Number of Warrants Transferred
Daniel Douglas Duggan Trust1,753,78022.1 pence263,067
Dante Eon Duggan Trust1,753,78022.1 pence263,067
David Michael Duggan Trust1,753,78022.1 pence263,067
Diamond Augustus Duggan Trust1,753,78022.1 pence263,067
Diana Star Duggan Trust1,753,78022.1 pence263,067
Dsara Ann Duggan Trust1,753,78022.1 pence263,067
Dylan Duke Duggan Trust1,753,78022.1 pence263,067
Mahkam Zanganeh Revocable Trust10,522,70522.1 pence1,578,405
Shaun Zanganeh Irrevocable Trust10,522,70522.1 pence1,578,405
Total33,321,870 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 CapitalWarrants
Robert W. DugganNon-Executive Director211,123,38562.85%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.

1Details of the persons discharging managerial responsibilities/person closely associated
a)Name (i)  Robert W. Duggan
2Reason for the notification
a)Position / status (i)  Non-Executive Director
b)Initial notification / AmendmentInitial notification
3Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)NameSummit Therapeutics plc
b)LEI213800NRW8AOMYMTBD89
4Details 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 instrumentOrdinary shares of 1 penny each
  
Identification codeGB00BN40HZ01
b)Nature of the transactionsSale 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 transactions14 January 2020
f)Place of the transactionsOutside a trading venue


1Details of the persons discharging managerial responsibilities/person closely associated
a)Name (ii)  Robert W. Duggan
2Reason for the notification
a)Position / status (ii)  Non-Executive Director
b)Initial notification / AmendmentInitial notification
3Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)NameSummit Therapeutics plc
b)LEI213800NRW8AOMYMTBD89
4Details 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 instrumentOrdinary shares of 1 penny each
  
Identification codeGB00BN40HZ01
b)Nature of the transactionsTransfer 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 transactions14 January 2020
f)Place of the transactionsOutside a trading venue

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