Last checked at 21 Jun 2018 15:58
Faron Pharmaceuticals Oy
("Faron" or the "Company")
PDMR Dealings and
Person Closely Associated with PDMR Dealings
TURKU - FINLAND, 21 June 2018 - Faron Pharmaceuticals Ltd ("Faron") (LON: FARN), the clinical stage biopharmaceutical company, announces that on 21 June 2018 it was notified of the following PDMR and persons closely associated dealings.
On 19 June 2018, Mr Matti Manner, the Non-Executive Director of Faron had acquired 15,500 ordinary shares in Faron at a price of 56 pence per ordinary share, and a person closely associated with him had acquired 7,900 ordinary shares in Faron at a price of 56 pence per ordinary share.
On 20 June 2018, Mr Yrjö Wichmann, Chief Financial Officer of Faron had acquired 5,200 ordinary shares in Faron at a price of 67 pence per ordinary share and on 21 June 2018, Dr. Pessi Honkasalo, Corporate Legal Counsel of Faron had acquired 1,500 ordinary shares in Faron at a price of 75 pence per ordinary share.
On 21 June 2018, Dr Matti Karvonen, Medical Director of Faron, had acquired 15,000 ordinary shares in Faron at a price of 56 pence per ordinary share and a person closely associated with him had acquired 31,000 ordinary shares in Faron at a price of 57 pence per ordinary share.
On 21 June 2018, Dr. Markku Jalkanen, Chief Executive Officer of Faron, had acquired 12,000 ordinary shares and a person closely associated with him had acquired 24,000 ordinary shares in Faron at a price of 71 pence per ordinary share. Also on 21 June 2018, Dr. Juho Jalkanen, Chief Development Officer of Faron had acquired 12,000 ordinary shares in Faron at a price of 71 pence per ordinary share.
The notification below, which has been made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Matti Manner Susanna Hedenström Yrjö WichmannPessi Honkasalo Matti KarvonenMinja Pfeiffer Markku Jalkanen Mehto Saima Kuolinpesä Juho Jalkanen | ||||||
2 | Reason for notification |
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a. | Position/Status | Person discharging managerial responsibilities / person closely associated
- Non-Executive Director and a person closely associated with him - Chief Financial Officer - Corporate Legal Counsel- Medical Director and a person closely associated with him - Chief Executive Officer and a person closely associated with him - Chief Development Officer
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b. | Initial notification/ Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | Faron Pharmaceuticals Oy | ||||||
b. | LEI | 7437009H31TO1DC0EB42 | ||||||
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 instrumentIdentification Code | Ordinary sharesISIN: FI4000153309 | ||||||
b. | Nature of the transaction | Purchase of ordinary shares | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
56.00 GBPp 56.00 GBPp 67.00 GBPp 75.00 GBPp 56.00 GBPp 57.00 GBPp 71.00 GBPp 71.00 GBPp 71.00 GBPp | 15,500 7,900 5,200 1,500 15,000 31,000 12,000 24,000 12,000 | |||||||
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d. | Aggregated information
- Aggregated Volume
- Price |
N/A
N/A
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e. | Date of the transaction | June 19, 2018, June 20, 2018 and June 21, 2018 | ||||||
f. | Place of the transaction | London Stock Exchange, AIM Market
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For more information please contact:
Faron Pharmaceuticals Ltd
Dr Markku Jalkanen, Chief Executive Officerinvestor.relations@faron.com
Consilium Strategic CommunicationsMary-Jane Elliott, Philippa Gardner, Matthew Neal, Lindsey NevillePhone: +44 (0)20 3709 5700E-mail: faron@consilium-comms.com
Westwicke Partners, IR (US)Chris BrinzeyPhone: 01 339 970 2843 E-Mail: chris.brinzey@westwicke.com
Panmure Gordon (UK) Limited, Nomad and BrokerFreddy Crossley, Emma Earl, Ryan McCarthy Phone: +44 207 886 2500
About Faron Pharmaceuticals Ltd
Faron (AIM:FARN) is a clinical stage biopharmaceutical company developing novel treatments for medical conditions with significant unmet needs. The Company currently has a pipeline focusing on acute organ traumas, vascular damage and cancer immunotherapy. The Company's lead candidate Traumakine, to prevent vascular leakage and organ failures, has completed a Phase III clinical trial in Acute Respiratory Distress Syndrome ("ARDS"). An additional European Phase II Traumakine trial is underway for the Rupture of Abdominal Aorta Aneurysm ("RAAA"). Faron's second candidate Clevegen is a ground breaking preclinical anti-Clever-1 antibody. Clevegen has the ability to switch immune suppression to immune activation in various conditions, with potential across oncology, infectious disease and vaccine development. This novel macrophage-directed immuno-oncology switch called Tumour Immunity Enabling Technology ("TIET") may be used alone or in combination with other immune checkpoint molecules for the treatment of cancer patients. Faron is based in Turku, Finland. Further information is available at www.faron.com