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Notification of Transactions of Persons Discharging Managerial Responsibilities

Summit Therapeutics plc
(“Summit Therapeutics” or the “Company”)

Notification of Transactions of Persons Discharging Managerial Responsibilities

Oxford, UK, and Cambridge, MA, US, 15 January 2020 - Summit Therapeutics (AIM: SUMM, NASDAQ: SMMT), a leader in antibiotic innovation, announces that it has received notification that on 14 January 2020, Mr Robert W. Duggan, a Non-Executive Director of the Company, sold a total of 33,321,870 ordinary shares and transferred a total of 4,998,279 warrants to various trusts as detailed below.

Name of Trust Number of Ordinary Shares Sold Sale Price per Ordinary Share* Number of Warrants Transferred
Daniel Douglas Duggan Trust 1,753,780 22.1 pence 263,067
Dante Eon Duggan Trust 1,753,780 22.1 pence 263,067
David Michael Duggan Trust 1,753,780 22.1 pence 263,067
Diamond Augustus Duggan Trust 1,753,780 22.1 pence 263,067
Diana Star Duggan Trust 1,753,780 22.1 pence 263,067
Dsara Ann Duggan Trust 1,753,780 22.1 pence 263,067
Dylan Duke Duggan Trust 1,753,780 22.1 pence 263,067
Mahkam Zanganeh Revocable Trust 10,522,705 22.1 pence 1,578,405
Shaun Zanganeh Irrevocable Trust 10,522,705 22.1 pence 1,578,405
Total 33,321,870   4,998,279

* The sale price per ordinary share has been converted from US Dollars at an exchange rate of $1.2900 to £1.00.

Following the completion of these dealings, Mr Duggan has the following interest in the Company’s ordinary shares and warrants, respectively:

    Shareholding % of Issued Share Capital Warrants
Robert W. Duggan Non-Executive Director 211,123,385 62.85% 19,925,276

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person responsible for arranging for the release of this announcement on behalf of the Company is Richard Pye, Vice President, Investor Relations and Corporate Affairs.

About Summit Therapeutics
Summit Therapeutics is a leader in antibiotic innovation. Our new mechanism antibiotics are designed to become the new standards of care for the benefit of patients and create value for payors and healthcare providers. We are currently developing new mechanism antibiotics to treat infections caused by C. difficile, N. gonorrhoeae and Enterobacteriaceae and are using our proprietary Discuva Platform to expand our pipeline. For more information, visit www.summitplc.com and follow us on Twitter @summitplc.

For more information, please contact:

Summit    
Glyn Edwards / Richard Pye (UK office) Tel: 44 (0)1235 443 951
Michelle Avery (US office)   +1 617 225 4455
     
Cairn Financial Advisers LLP (Nominated Adviser) Tel: +44 (0)20 7213 0880
Liam Murray / Tony Rawlinson / Ludovico Lazzaretti    
     
N+1 Singer (Joint Broker) Tel: +44 (0)20 7496 3000
Aubrey Powell / George Tzimas, Corporate Finance
Tom Salvesen, Corporate Broking
   
     
Bryan Garnier & Co Limited (Joint Broker) Tel: +44 (0)20 7332 2500
Phil Walker / Dominic Wilson    
     
MSL Group (US) Tel: +1 781 684 6552
Erin Anthoine   summit@mslgroup.com
     
Consilium Strategic Communications (UK) Tel: +44 (0)20 3709 5700
Mary-Jane Elliott / Sue Stuart /
Sukaina Virji / Lindsey Neville
  summit@consilium-comms.com

The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.

1 Details of the persons discharging managerial responsibilities/person closely associated
a) Name  (i)  Robert W. Duggan
2 Reason for the notification
a) Position / status  (i)  Non-Executive Director
b) Initial notification / Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Summit Therapeutics plc
b) LEI 213800NRW8AOMYMTBD89
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 Ordinary shares of 1 penny each
   
Identification code GB00BN40HZ01
b) Nature of the transactions Sale of ordinary shares of one penny nominal value
c) Price(s) and volume(s)   Price(s) Volume(s)  
(i) 22.1p (exercise price)

 
 (i)  33,321,870
 
d) Aggregated information

 

- Aggregated volume

 

- Price
 

 

33,321,870 ordinary shares

 

22.1 pence

 
e) Date of the transactions 14 January 2020
f) Place of the transactions Outside a trading venue


1 Details of the persons discharging managerial responsibilities/person closely associated
a) Name  (ii)  Robert W. Duggan
2 Reason for the notification
a) Position / status  (ii)  Non-Executive Director
b) Initial notification / Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Summit Therapeutics plc
b) LEI 213800NRW8AOMYMTBD89
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 Ordinary shares of 1 penny each
   
Identification code GB00BN40HZ01
b) Nature of the transactions Transfer of warrants to subscribe for ordinary shares of one penny nominal value
c) Price(s) and volume(s)   Price(s) Volume(s)  
(i) n/a

 
 (ii)  4,998,279
 
d) Aggregated information

 

- Aggregated volume

 

- Price
 

 

4,998,279 warrants to subscribe for ordinary shares

 

n/a

 
e) Date of the transactions 14 January 2020
f) Place of the transactions Outside a trading venue

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