Summit Therapeutics plc : Exercise of Warrants

Summit Therapeutics plc ("Summit" or the "Company")

EXERCISE OF WARRANTS

Oxford, UK, 23 February 2017 - Summit Therapeutics plc (AIM: SUMM, NASDAQ: SMMT), the drug discovery and development company advancing therapies for Duchenne muscular dystrophy and C. difficile infection, announces that it has received notice and payment from the University of Oxford to exercise warrants over 50,000 ordinary shares of 1 penny each (the "New Ordinary Shares") at an exercise price of 20 pence per ordinary share.

Application has been made for the admission to trading on AIM of the New Ordinary Shares, which will rank pari passu with the Company's existing ordinary shares, and admission is expected to occur on or around 1 March 2017. 

Following admission of the New Ordinary Shares to trading on AIM, the total number of ordinary shares with voting rights in issue will be 61,891,566.  This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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