Summit Corporation plc
("Summit" or "the Company")
EXERCISE OF OPTIONS
Oxford, UK, 18 January 2011, Summit (AIM: SUMM), a UK drug discovery company,
announces that it has allotted 2,020,000 Ordinary Shares of one pence each in
the Company ("Ordinary Shares") in satisfaction of employee share option
Application has been made for the 2,020,000 Ordinary Shares to be admitted to
AIM, and trading is expected to commence on 24 January 2011 ("Admission"). Upon
Admission, these shares will rank pari passu in all respects with the existing
Ordinary Shares of the Company.
After Admission, Summit will have 168,269,806 Ordinary Shares in issue.
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For more information, please contact:
Barry Price, PhD,
Richard Pye, PhD Tel: +44 (0)1235 443 939
Singer Capital Markets (Nominated Adviser)
Shaun Dobson / Claes Spång Tel: +44 (0)20 3205 7500
Tarquin Edwards Tel: +44 (0)7879 458 364
Notes to Editors
Summit is an Oxford, UK based drug discovery company with an innovative
technology platform called Seglins(TM) for the discovery of new medicines, a
portfolio of drug programme assets and a commercial strategy of signing multiple
Seglin(TM) technology is using new chemistry to access biological drug targets
that cannot be exploited by conventional drug discovery approaches. Summit's
internal research is currently focussed in the high-value therapy areas of
metabolic and infectious diseases and the Company will further exploit the
technology's wider potential through strategic alliances. Summit's programme
portfolio consists of a number of drug programmes that require no further
investment from the Company but have the potential to deliver future upside for
Summit's commercial strategy focuses on signing multiple early-stage drug
programme and technology platform deals that generate upfront cash, remove
development costs from the Company, and retain valuable upside potential.
Summit is listed on the AIM market of the London Stock Exchange and trades under
the ticker symbol SUMM. Further information is available at www.summitplc.com.
Forward Looking Statements
This document contains "forward-looking statements" within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by words such as "anticipates", "intends", "plans",
"seeks", "believes", "estimates", "expects" and similar references to future
periods, or by the inclusion of forecasts or projections.
Forward-looking statements are based on the Company's current expectations and
assumptions regarding our business, the economy and other future conditions.
Because forward-looking statements relate to the future, by their nature, they
are subject to inherent uncertainties, risks and changes in circumstances that
are difficult to predict. The Company's actual results may differ materially
from those contemplated by the forward-looking statements. The Company cautions
you therefore that you should not rely on any of these forward-looking
statements as statements of historical fact or as guarantees or assurances of
future performance. Important factors that could cause actual results to differ
materially from those in the forward-looking statements and regional, national,
global political, economic, business, competitive, market and regulatory
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Summit Corporation PLC via Thomson Reuters ONE