Duo to share £10m in biotech float
13 April 2012
A PAIR of doctors stand to share in a £10m windfall over the next few years from the £190m stock market flotation of the biotechnology company they co-founded.
Ark Therapeutics Group's decision to float next month means Professor John Martin and Dr Stephen Barker, both of the University College London, and a co-founding Finnish doctor can cash in a series of share options over the next four years worth around £10m, half of the 9% shareholding on offer to the firm's management.
Ark is pricing its existing shares at between 120p and 146p, or up to £135m, and will raise £55m through a placing of new shares, giving it a total market value of up to £190m.
