Grant of Director Share Options
Thalia Therapeutics plc has granted options over 200,000,000 ordinary shares to five directors at an exercise price of 0.6 pence per share, aligning director incentives with shareholder interests following a recent acquisition. These options have a ten-year term, with 50% vesting based on continued employment and the remaining 50% contingent on the company's share price reaching 1.2 pence and 1.8 pence. The granted options represent approximately 11.25% of the current issued share capital and around 7.5% on a fully diluted basis.
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Thalia Therapeutics plc (AIM: THAT), a clinical-stage biotechnology company developing innovative RNA-based therapeutics and delivery technologies in oncology and cardiovascular disease, announces that it has granted options over a total of 200,000,000 ordinary shares in the Company (the "Options") to certain directors under the Company's share option plan.
Following the Annual General Meeting and completion of the acquisition of Sanmirna Therapeutics Inc (the "Acquisition") as announced on 17 July 2026, the Board believes that the grant of Options provides an appropriate long-term incentive, aligning the interests of the Directors with those of shareholders and supporting the delivery of the Company's strategic and commercial objectives.
Key terms of the Options
- Total of 200,000,000 Options granted to five directors
- Exercise price of 0.6 pence per ordinary share, being equal to the recent subscription price
- Ten-year term from the date of grant
- 50% (100,000,000) of the Options vest subject to continued appointment, in three equal tranches on the first, second and third anniversaries of the grant date, being 20 July 2026
- The remaining 50% (100,000,000) vest only upon achievement of share price performance targets:
o 25% of the total award vests if the Company's share price reaches 1.2 pence per share, representing a doubling of the recent subscription price; and
o 25% of the total award vests if the Company's share price reaches 1.8 pence per share, representing a tripling of the recent subscription price
The Options represent approximately 11.25% of the Company's current issued share capital (excluding the new option shares). On a fully diluted basis, including outstanding convertible loan notes, warrants and these Options, the awards represent approximately 7.5% of the Company's enlarged fully diluted share capital, prior to the issue of any future milestone payments under the share purchase agreement pertaining to the Acquisition.
Director option grants
| Director | Position | Number of Options |
| David H Solomon | Chief Executive Officer | 50,000,000 |
| Christopher Britten | Non-Executive Chair | 45,000,000 |
| Luke Cairns | Executive Director | 45,000,000 |
| Alastair Smith | Non-Executive Director | 35,000,000 |
| Michael Palfreyman | Non-Executive Director | 25,000,000 |
| Thalia Therapeutics plc Dr David H Solomon, Chief Executive Officer | Via Thalia Investor Hub https://investors.thaliatx.com/link/exow8y | |
| SP Angel Corporate Finance LLP Nominated Adviser and Joint Broker Matthew Johnson/Jen Clarke (Corporate Finance) Vadim Alexandre/Abigail Wayne/Rob Rees (Corporate Broking) | Tel: +44 (0)20 3470 0470 | |
| Turner Pope Investments (TPI) Limited Joint Broker Andy Thacker/ Guy McDougall | Tel: +44 (0)20 3657 0050 | |
| Northstar Communications Limited Investor relations and Communications Sarah Hollins Cohesion Bureau Investor relations and Communications Mary-Ann Chang | Tel: +44 (0)20 7183 2463 Tel: +44 (0)7483 284853 | |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | 1. David Solomon (Chief Executive) 2. Chris Britten (Non-Executive Chair) 3. Luke Cairns (Executive Director) 4. Alastair Smith (Non-Executive Director) 5. Michael Palfreyman (Non-Executive Director) |
| 2 | Reason for the notification | |
| a) | Position/status | See 1 a) |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Thalia Therapeutics plc |
| b) | LEI | 213800OIN8T68PM7HK77 |
| a) | Description of the financial instrument, type of instrument Identification code | Options over Ordinary Shares of 0.4p each Identification code (ISIN) for Thalia Therapeutics plc ordinary shares: GB00BYW8QM32 |
| b) | Nature of the transaction | Grant of options |
| c) | Price(s) and volume(s) | Name Exercise Price Volume(s) 1. David Solomon 2. Chris Britten 3. Luke Cairns 4. Alastair Smith 5. Michael Palfreyman 0.6 pence 0.6 pence 0.6 pence 0.6 pence 0.6 pence 50,000,000 45,000,000 45,000,000 35,000,000 25,000,000 |
| d) | Aggregated information - Aggregated volume - Price | n/a |
| e) | Date of the transaction | 20 July 2026 |
| f) | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.