Destiny Pharma : Grant of share options

Destiny Pharma plc

("Destiny Pharma" or the "Company")

Grant of share options

Destiny Pharma plc (AIM: DEST, "the Company") a clinical stage biotechnology company focused on the development of novel medicines to prevent life threatening infections, announces that it has granted options over a total of 1,035,085 new ordinary shares of £0.01 each in the Company ("Options") (representing 1.73 per cent. of the Company's issued share capital) to certain employees of the Company, including the Directors and PDMR named below.

Name	Position	Options issued Under 2020 LTIP scheme	Total Options held post issue	Percentage of options in the Company held	Ordinary Shares held	Ordinary Shares held as a percentage of issued share capital
Neil Clark	Chief Executive Officer	198,875	1,355,620	2.26%	38,462	0.06%
Shaun Claydon	Chief Financial Officer	151,408	852,176	1.42%	-	-
William Love*	Chief Scientific Officer	135,235	1,311,235	2.19%	6,509,500	10.87%
Stephanie Bewick	Chief Business Officer and PDMR	124,567	124,567	0.21%	-	-

*3,317,700 of these Ordinary Shares are held by William Love and 3,191,800 are held by Carole Love

The above options granted to the Directors and PDMR represent awards granted under the Destiny Pharma plc 2020 Long Term Incentive Plan approved by the Company on 22 December 2020 for EMI and non-tax advantaged options (the "Employee LTIP 2020"). The options have been granted with a nominal exercise price and will vest subject to the achievement of Total Shareholder Return measures over a three-year performance period.

Since the Company's IPO in 2017 the Company has established and operated two share option schemes, being the Employee LTIP 2020 and the Destiny Pharma plc 2018 Long Term Incentive Plan, established on 25 January 2018. These schemes after the new grant will represent 5.7% of the current issued share capital of the Company. In addition there are four schemes (the "Old Schemes") that were operated prior to IPO and have been closed since IPO with outstanding share options totalling 10.6% of the issued share capital of the Company. Historically, in the years prior to the Company's IPO in 2017 the Company issued options under the Old Schemes as a means to compensate its consultants and non-executive directors in lieu of fees.

Details of all the schemes can be found on page 51 of the 2020 Annual Report and Accounts. The terms of the schemes currently provide for a maximum cap on the number of options outstanding equal to 15% of the number of shares in issue at any one time.

The total share options in issue will, after the proposed grant, be 16.3% of the current issued share capital of Destiny of which only 8.3% will be held by current employees. Leaving the 15% cap in place constrains the Company's ability to incentivise and reward those employees who are key to its future growth and success. In order to avoid that constraint the Board has determined that the overall cap on the schemes be raised to 18% thus allowing for a maximum option pool of 10% for current and future staff incentives.

For further information, please contact:

Destiny Pharma plc

Neil Clark, CEO

Shaun Claydon, CFO

[phone]

[e-mail]

Optimum Strategic Communications

Mary Clark / Hollie Vile / Manel Mateus

[phone]

[e-mail]

Finn Cap Ltd(Nominated Adviser and Joint Broker)

Geoff Nash / Kate Bannatyne, Corporate Finance

Alice Lane, Corporate Broking

[phone]

WG Partners(Joint Broker)

Nigel Barnes / Claes Spång

[phone]

MC Services AG

Anne Hennecke / Andreas Burckhardt

[phone]

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

About Destiny Pharma

Destiny Pharma is a clinical stage, innovative biotechnology company focused on the development of novel medicines that can prevent life-threatening infections. Its pipeline has novel microbiome-based biotherapeutics and XF drug clinical assets including NTCD-M3, a Phase 3 ready treatment for the prevention of C. difficileinfection (CDI) recurrence which is the leading cause of hospital acquired infection in the US and also XF-73 nasal gel, which has recently completed a positive Phase 2b clinical trial targeting the prevention of post-surgical staphylococcal hospital infections including MRSA. It is also co-developing SporCov, a novel, biotherapeutic product for the prevention of COVID-19 and other viral respiratory infections and has earlier grant funded XF research projects.

For further information on the company, please visit https://www.destinypharma.com

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	Neil Clark
2.	Reason for the Notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Destiny Pharma plc
b)	LEI	213800O9WH9Z38EHAC95
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	Grant of award of options over ordinary shares of 1 pence each ("Ordinary Shares") under the 2020 Destiny Pharma plc Long Term Incentive Plan.
	Identification code	DEST GB00BDHSP575
b)	Nature of the transaction	Grant of award of options over Ordinary Shares under the 2020 Destiny Pharma plc Long Term Incentive Plan.
c)	Price(s) and volume(s)	1 pence exercise price per Ordinary Share 198,875 Ordinary Shares
d)	Aggregated information: Aggregated volume Price	See 4c) above
e)	Date of the transaction	17 December 2021
f)	Place of the transaction	London Stock Exchange, AIM Market

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Shaun Claydon
2.	Reason for the Notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Destiny Pharma plc
b)	LEI	213800O9WH9Z38EHAC95
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	Grant of award of options over ordinary shares of 1 pence each ("Ordinary Shares") under the 2020 Destiny Pharma plc Long Term Incentive Plan.
	Identification code	DEST GB00BDHSP575
b)	Nature of the transaction	Grant of award of options over Ordinary Shares under the 2020 Destiny Pharma plc Long Term Incentive Plan.
c)	Price(s) and volume(s)	1 pence exercise price per Ordinary Share 151,408 Ordinary Shares
d)	Aggregated information: Aggregated volume Price	See 4c) above
e)	Date of the transaction	17 December 2021
f)	Place of the transaction	London Stock Exchange, AIM Market

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	William Love
2.	Reason for the Notification
a)	Position/status	Chief Scientific Officer
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Destiny Pharma plc
b)	LEI	213800O9WH9Z38EHAC95
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	Grant of award of options over ordinary shares of 1 pence each ("Ordinary Shares") under the 2020 Destiny Pharma plc Long Term Incentive Plan.
	Identification code	DEST GB00BDHSP575
b)	Nature of the transaction	Grant of award of options over Ordinary Shares under the 2020 Destiny Pharma plc Long Term Incentive Plan.
c)	Price(s) and volume(s)	1 pence exercise price per Ordinary Share 135,235 Ordinary Shares
d)	Aggregated information: Aggregated volume Price	See 4c) above
e)	Date of the transaction	17 December 2021
f)	Place of the transaction	London Stock Exchange, AIM Market

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stephanie Bewick
2.	Reason for the Notification
a)	Position/status	Chief Business Officer
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Destiny Pharma plc
b)	LEI	213800O9WH9Z38EHAC95
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	Grant of award of options over ordinary shares of 1 pence each ("Ordinary Shares") the 2020 Destiny Pharma plc Long Term Incentive Plan.
	Identification code	DEST GB00BDHSP575
b)	Nature of the transaction	Grant of award of options over Ordinary Shares under the 2020 Destiny Pharma plc Long Term Incentive Plan.
c)	Price(s) and volume(s)	1 pence exercise price per Ordinary Share 124,567 Ordinary Shares
d)	Aggregated information: Aggregated volume Price	See 4c) above
e)	Date of the transaction	17 December 2021
f)	Place of the transaction	London Stock Exchange, AIM Market