Director/PDMR Shareholding
(Thomson Reuters ONE) -
Summit Corporation plc
("Summit plc" or "the Company")
DIRECTOR AND PDMR SHARE DEALINGS
Oxford, UK, 05 March 2010, Summit (AIM: SUMM), a leading UK drug discovery
company with a portfolio of partnered drug programmes and a proprietary second
generation iminosugar technology platform, has today been notified about the
following purchase of One pence Ordinary Shares in Summit by the Executive
management of the Company:
+-----------+-------------+------------+----------+--------+---------+---------+
|Name |Position | Shares| Date| Price| Current| % of|
| | | Purchased| of| per| Holding| Issued|
| | | | purchase| share| | Share|
| | | | | | | Capital|
+-----------+-------------+------------+----------+--------+---------+---------+
|Steven Lee,|Chief | 50,000|05/03/2010| 4.70p|2,432,492| 1.46%|
|PhD |Executive | | | | | |
| |Officer | | | | | |
+-----------+-------------+------------+----------+--------+---------+---------+
|Raymond |Chief | 200,000|04/03/2010| 4.67p| 900,000| 0.54%|
|Spencer, |Financial | | | | | |
|ACA |Officer | | | | | |
+-----------+-------------+------------+----------+--------+---------+---------+
|Richard |Chief | 60,000|05/03/2010| 4.70p| 576,229| 0.35%|
|Storer, |Scientific | | | | | |
|DPhil |Officer | | | | | |
+-----------+-------------+------------+----------+--------+---------+---------+
Today's purchase by Summit's Chief Executive Officer, Dr Steven Lee, follows his
recent purchase of 200,000 Ordinary shares in November 2009 and a subscription
for 2,000,000 Ordinary shares as part of the successful fund raising that
completed in December 2009.
The Company's Chief Financial Officer, Mr Raymond Spencer, also purchased a
total of 300,000 Ordinary shares between October and November 2009, and Summit's
Chief Scientific Officer, Dr Richard Storer, purchased 100,000 Ordinary shares
in November 2009. In addition, Dr Storer and Mr Spencer each subscribed for
400,000 Ordinary shares as part of the December 2009 fundraising.
Following today's share purchases, the total holdings of the Directors and PDMR
of the Company is now 7.9% of the issued share capital of the Company.
- END -
For more information, please contact:
Summit
Steven Lee, PhD
Richard Pye, PhD Tel: +44 (0)1235 443 951
Singer Capital Markets (Nominated
Adviser)
Shaun Dobson / Claes Spång Tel: +44 (0)20 3205 7500
Peckwater PR
Tarquin Edwards Tel: +44 (0)7879 458 364
tarquin.edwards(at)peckwaterpr.co.uk
About Summit plc
Summit is a leading UK based drug discovery company with a portfolio of
partnered drug programmes and a major focus on developing new therapeutics from
its proprietary second generation iminosugar drug discovery platform.
Summit believes iminosugars are the key to gaining access to several disease
mechanisms where classical drug candidates have had little success, and
therefore offer a major opportunity for the discovery and development of new
medicines.
Carbohydrates play critical roles in maintaining correct function of many normal
processes in healthy individuals and provide a wealth of new targets for drug
discovery. Iminosugars have the capability of accessing such targets and offer
the potential of generating new medicines in a variety of major therapy areas.
Summit is currently focussed on metabolic diseases, including diabetes, and
infectious diseases.
Summit has a commercial track record of signing programme agreements and
currently has a product portfolio comprising of a number of drug programmes with
partners including BioMarin Pharmaceuticals, Orient Pharma, Evolva, the Wellcome
Trust and the Lilly TB Drug Discovery Initiative. This portfolio requires no
further investment from Summit but in the future may generate success based
milestone payments of over $160 million and sales royalties rising to a low teen
percentage for the Company.
The company listed on the alternative investment market (AIM) of the London
Stock Exchange in October 2004 - symbol: SUMM. Further information about the
company is available at www.summitplc.com
[HUG#1391273]
Unternehmensinformation / Kurzprofil:
Datum: 05.03.2010 - 11:16 Uhr
Sprache: Deutsch
News-ID 13211
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contact information:
Town:
Abingdon,
Kategorie:
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