Last checked at 22 May 2017 11:31
This is a correction to the press release issued by Faron Pharmaceuticals on 18 April 2017 in which the volume of the transaction in the announcement and section 4c of the PDMR dealing form has been amended to 4200 shares and the aggregate information and price in section 4d have been corrected to 4200 shares and 33 600 GBP respectively.
The corrected release is below.
Faron Pharmaceuticals Oy
("Faron" or the "Company")
PDMR Dealing
TURKU - FINLAND, 22 May 2017 - Faron Pharmaceuticals Ltd ("Faron") (LON: FARN), the clinical stage biopharmaceutical company, announces that on 20 May 2017 it was notified of a correction to Dr Matti Karvonen's PDMR Dealing announced on 18 May 2017. It was notified that Dr Matti Karvonen, Medical Director of Faron, acquired 4200 shares on 16 May 2017 (previously announced as 5000 ordinary shares) in Faron at a price of 800 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.
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 Karvonen
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2 | Reason for notification |
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a. | Position/Status | Person discharging managerial responsibilities
Medical Director of Faron | ||||||
b. | Initial notification/ Amendment | Amendment to the Notification announced 18 May 2017 | ||||||
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) | |||||||
800 GBPp |
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d. | Aggregated information
- Aggregated Volume
- Price |
4 200
33 600 GBP | ||||||
e. | Date of the transaction | 16 May 2017 | ||||||
f. | Place of the transaction | Turku
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For more information please contact:
Faron Pharmaceuticals Ltd
Dr Markku Jalkanen, Chief Executive Officer
investor.relations@faron.com
Consilium Strategic Communications
Mary-Jane Elliott, Chris Welsh, Lindsey Neville
Phone: +44 (0)20 3709 5700
E-mail: faron@consilium-comms.com
Westwicke Partners, IR (US)
Chris Brinzey
Phone: 01 339 970 2843
E-Mail: chris.brinzey@westwicke.com
Cairn Financial Advisers LLP, Nominated Adviser
Emma Earl, Tony Rawlinson
Phone: +44 207 213 0880
Panmure Gordon (UK) Limited, Joint Broker
Freddy Crossley, Duncan Monteith (Corporate Finance)
Tom Salvesen (Corporate Broking)
Phone: +44 207 886 2500
Whitman Howard Limited, Nominated Broker (UK)
Ranald McGregor-Smith, Francis North
Phone: +44 207 659 1234
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, is currently the only treatment for Acute Respiratory Distress Syndrome (ARDS) undergoing Phase III clinical trials. There is currently no approved pharmaceutical treatment for 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 pre-clinical 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.faronpharmaceuticals.com