Business
Grant of Options
Grant of Options.
About this update from Scancell Holdings Plc
[{"type":"text","content":"\n \nGB00B39J5N63\n\n14 July 2010\n\n Scancell Holdings Plc \n\n (`Scancell Holdings' or the `Company') \n\n Grant of Options \n\nScancell Holdings plc, (PLUS:SCLP), the developer of therapeutic cancer\nvaccines, announces, further to the preliminary results announcement and the\nannouncement of the Company's proposed admission to AIM which were issued\nearlier today, the grant of share options to the Executive Directors of the\nCompany under the EMI share option scheme.\n\nIn order to properly incentivise the Executive Directors, the Company has\nadopted an EMI Option Scheme. Under the terms of the EMI Option Scheme, each of\nProfessor Lindy Durrant and Dr Richard Goodfellow have been granted options\nover Ordinary Shares of 1p each in the share capital of the Company.\n\nThe exercise price of the options is 45p; the same price at which new Ordinary\nShares were issued under the Open Offer that was completed in March 2010. The\nCompany has not been able to grant the options since the close of the Open\nOffer due to it being in a close period since that date. The exercise price\nrepresents a discount of approximately 28 per cent. to the middle market price\nof the Company's Ordinary Shares at the close of business on 13 July 2010 which\nwas 62.5p. Details of the EMI Options granted are set out in the table below:\n\nExecutive Director Number of EMI Exercise Expiry Date Vesting criteria \n Options Price \n \nProfessor Lindy 385,000 45p 31.12.15 Conditional on the \nDurrant Company being sold \n for > £25 million \n \nDr Richard 288,000 45p 31.12.15 Conditional on the \nGoodfellow Company being sold \n for > £25 million \n\nA copy of this announcement is available for download on the Company's website\nat http://www.scancell.co.uk/\n\nThe Directors of the issuer accept responsibility for this announcement.\n\n -ENDS- \n\nFor further information contact:\n\nProfessor Lindy Durrant Scancell Holdings Plc + 44 (0)207 245 1100 \n \nJohn Bick/Kirsty Corcoran Hansard Communications + 44 (0)207 245 1100 \n \nRoss Andrews/Tom Rowley Zeus Capital + 44 (0)161 831 1512 \n\nAbout Scancell\n\nScancell is developing novel therapeutic vaccines for the treatment of cancer\nand infectious diseases based on its groundbreaking ImmunoBody® technology\nplatform. Scancell's first cancer vaccine SCIB1 is being developed for the\ntreatment of mel...