Rise up3 Apr 2019 10:38
Still amazed at how FARN confidence is seen through directors and family and friends of directors are putting money into the company;
213,675 have been subscribed by Markku Jalkanen directly, and 71,225 have been subscribed for by the Mehto Estate, a family estate in which Markku Jalkanen's wife, Sirpa Jalkanen, is benficially interested
** subscribed by Yrjš Wichmann's wife Irene Averbach-Wichmann
*** of which, 28,490 have been subscribed by Matti Manner directly, and 14,245 have been subscribed for by his wife Susanna Hedenstršm-Manner
The participation of Dr Markku Jalkanen, Yrjo Wichmann, Dr Frank Armstrong, Dr Gregory Brown and Matti Manner in the Placing and Subscription constitutes a related party transaction for the purposes of the AIM Rules. The independent directors for the purpose of the Placing and Subscription, being Leopoldo Zambeletti and John Poulos, have consulted with the Company's nominated adviser, Panmure Gordon and consider that the terms of the related party transaction are fair and reasonable insofar as the Shareholders are concerned.
Other PDMRs also participated in the Fundraise, these include Matti Karvonen, Jami Mandelin and Maria Lahtinen or persons closely associated with them who subscribed for 56,980, 10,256 and 14,245 Subscription Shares respectively.
In addition to the subscriptions made by the Directors and PDMRs above, Dr Jonathan Knowles, chairman of the Scientifc Advisory Board, has also subscribed for 284,900 Subscription Shares for an amount of €200,000.