Issue of share options
Share options granted to three executive directors under long-term incentive plan with 11.7 pence exercise price.
- Options granted to Phil L'Huillier 31,103,440
- Options granted to Lindy Durrant 5,183,907
- Options granted to Sath Nirmalananthan 1,000,000
- Exercise price 11.7 pence per share
- Phil L'Huillier total options after grant 31,103,440 (prior 0)
- Lindy Durrant total options after grant 28,033,907 (prior 22,850,000)
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Scancell Holdings plc (AIM: SCLP), a clinical-stage biopharmaceutical company developing novel immunotherapies for cancer, announces that on 19 February 2025, share options to acquire ordinary shares of 0.1 pence each in the capital of the Company (the "Options") were granted to Phil L'Huillier, CEO and Executive Director, Lindy Durrant, CSO and Executive Director and Sath Nirmalananthan, CFO and Executive Director (the "Executive Directors").
The Options have been granted as follows:
| Director | Existing options over Ordinary Shares | Number of Options granted | Total options held following grant | % of current issued share capital |
|---|---|---|---|---|
| Phil L'Huillier | 0 | 31,103,440 | 31,103,440 | 3.00% |
| Lindy Durrant | 22,850,000 | 5,183,907 | 28,033,907 | 2.70% |
| Sath Nirmalananthan | 1,000,000 | 1,000,000 | 2,000,000 | 0.19% |
The Options have been granted pursuant to the Company's long term incentive plan, have an exercise price of 11.7 pence each, the 3 month volume weighted average price on the grant date, and will vest over three years in three equal tranches from 19 February 2025 with no vesting criteria other than to remain in employment. Any unexercised Options which are being granted per the above will expire at 6pm on 19 February 2035.
The Board of Scancell approved the issuance of the Options to incentivise and retain directors and staff of the Company. The Board considered both historical practices and on-going funding requirements in this regard.
Related Party Transaction
The issue of Options to the Executive Directors are deemed to be a related party transaction pursuant to AIM Rule 13 of the AIM Rules for Companies. The Company's directors who are independent of the related party transaction, being all the directors other than the Executive Directors, consider, having consulted with the Company's Nominated Adviser, Panmure Liberum Limited, that the terms of the related party transactions are fair and reasonable insofar as the shareholders of the Company are concerned.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Phil L'Huillier |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Executive Officer and PDMR |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Scancell Holdings plc |
| b) | LEI | 2138008RXEG856SNP666 |
| a) | Description of the financial instrument, type of instrument | Options to acquire ordinary shares |
| b) | Identification Code | GB00B63D3314 |
| c) | Nature of the transaction | Grant of options to acquire ordinary shares |
| d) | Price(s) and volume(s) | 31,103,440 share options 11.7 pence per share option |
| e) | Aggregated information - Aggregated volume - Price | N/A (single transaction) |
| f) | Date of the transaction | 19 February 2025 |
| g) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Lindy Durrant |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Scientific Officer and PDMR |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Scancell Holdings plc |
| b) | LEI | 2138008RXEG856SNP666 |
| a) | Description of the financial instrument, type of instrument | Options to acquire ordinary shares |
| b) | Identification Code | GB00B63D3314 |
| c) | Nature of the transaction | Grant of options to acquire ordinary shares |
| d) | Price(s) and volume(s) | 5,183,907 share options 11.7 pence per share option |
| e) | Aggregated information - Aggregated volume - Price | N/A (single transaction) |
| f) | Date of the transaction | 19 February 2025 |
| g) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Sath Nirmalananthan |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Financial Officer and PDMR |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Scancell Holdings plc |
| b) | LEI | 2138008RXEG856SNP666 |
| a) | Description of the financial instrument, type of instrument | Options to acquire ordinary shares |
| b) | Identification Code | GB00B63D3314 |
| c) | Nature of the transaction | Grant of options to acquire ordinary shares |
| d) | Price(s) and volume(s) | 1,000,000 share options 11.7 pence per share option |
| e) | Aggregated information - Aggregated volume - Price | N/A (single transaction) |
| f) | Date of the transaction | 19 February 2025 |
| g) | Place of the transaction | Outside a trading venue |
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