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Midatech Pharma PLC (MTPH)

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Wednesday 02 October, 2019

Midatech Pharma PLC

Award of Options to a Director

RNS Number : 5008O
Midatech Pharma PLC
02 October 2019
 

2 October 2019

Midatech Pharma PLC

("Midatech" or the "Company")

 

Award of Options to a Director

Midatech (AIM: MTPH.L; NASDAQ: MTP), the R&D biotechnology company focused on delivering innovative oncology and rare disease products to patients, announces that an award has been made under the 2014 Midatech Pharma plc Enterprise Management Incentive Scheme to Stephen Stamp, Chief Financial Officer and a Director of the Company. 

The award consists of 1,000,000 share options over the Company's ordinary shares having a nominal value of 0.005 pence each (the "Options") with an exercise price of 5.25 pence per share.  Of the total number of Options, 400,000 will vest upon completion of a fundraising of not less than USD 20 million before 9 September 2020.  Of the remaining 600,000 Options, 150,000 vest on 9 September 2020 and 37,500 vest at the end of each of the subsequent 12 quarters.

Once vested, the options will be exercisable until 1 October 2029. 

Director

Award of Options

Resulting interest in options

Current shareholding in the Company

Stephen Stamp - Chief Financial Officer

1,000,000

1,000,000

200,000

In total 1,000,000 Options were granted yesterday, representing 0.24 per cent. of the issued share capital.

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 Stephen Stamp

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief Financial Officer

b)

 

Initial notification /Amendment

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Midatech Pharma plc

b)

 

LEI

 

549300GKR2G40H3QFY57

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

Options over Ordinary shares of 0.005 pence each in Midatech Pharma plc



Identification code

GB00BRTL9B63



b)

 

Nature of the transaction

 

Grant of Options over Ordinary shares

 

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




5.25 p

1,000,000

 

 

 






d)

 

Aggregated information




- Aggregated volume

As above



- Price




e)

 

Date of the transaction

 

2 October 2019

f)

 

Place of the transaction

 

Off market transaction

 

For more information, please contact:

 

Midatech Pharma PLC

Dr Craig Cook, CEO

Tel: +44 (0)1235 888300

www.midatechpharma.com


Panmure Gordon (UK) Limited (Nominated Adviser and Broker)

Freddy Crossley, Emma Earl (Corporate Finance)

James Stearns (Corporate Broking)

Tel: +44 (0)20 7886 2500


IFC Advisory Limited (Financial PR and UK Investor Relations)

Tim Metcalfe / Graham Herring

Tel: +44 (0)20 3934 6630

Email: [email protected]


Westwicke Partners (US Investor Relations)

Chris Brinzey

Tel: +1 339 970 2843

Email: [email protected]

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).

 

About Midatech Pharma PLC

 

Midatech Pharma PLC (dual listed on LSE AIM: MTPH; and NASDAQ: MTP) is an R&D company focused on 'Making Medicines Better' by improving delivery of drugs in the body. The Company combines existing medications with its proprietary and innovative drug delivery technologies to provide compelling oncology and rare disease products that have the potential to powerfully impact the lives of patients undergoing treatment for life threatening diseases.

 

The Company has developed three in-house technology platforms, each with its own unique mechanism to improve delivery of medications to sites of disease. All of the Company's technologies have successfully entered human use in the clinic, providing important validation of the potential for each platform:

 

Q-Sphera™ platform: a disruptive micro-technology used for sustained release to prolong and control the release of therapeutics over an extended period of time (from weeks to months).

MidaSolve™ platform: an innovative nano-technology used to dissolve insoluble drugs so that they can be administered in liquid form directly and locally into tumours.

MidaCore™ platform: a leading edge nano-technology used for targeting medications to sites of disease.

 

By improving biodelivery and biodistribution of approved existing molecules, Midatech's unique R&D has the potential to make medicines better, lower technical risks, accelerate regulatory approval and route to market, and provide newly patentable products. The platform nature of the technologies allows the potential to develop multiple drug assets rather than being reliant on a limited number of programmes.

 

Midatech's headquarters and R&D facility is in Cardiff, UK, and manufacturing operation in Bilbao, Spain. For more information please visit www.midatechpharma.com

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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