Last checked at 21 Nov 2017 07:00
Faron Pharmaceuticals Ltd
("Faron" or the "Company")
Grant of options
TURKU - FINLAND, 21 November 2017 - Faron (LON: FARN), the clinical stage biopharmaceutical company, announces that on 16 November 2017 the Board of Faron confirmed the subscription for a total of 500,000 C options over ordinary shares in the Company ("Options") under the Faron 2015 Option Plan. The Options have been allocated under the Faron 2015 Option Plan and are exercisable between 8 October 2017 and 30 September 2021 at an exercise price of 839 euro cents per share. The exercise price is calculated based on the average share price between 1 July and 30 September 2017. The details of the 2015 Option Plan, as amended, are described in the 2017 annual general meeting material, which is available on Company's website.
The granted 500,000 Options entitle the option holders to subscribe for a total of 500,000 new ordinary shares in the Company, if exercised in full, and represent 1.68% of the fully-diluted Ordinary Share Capital of the Company.
Included in the number of Options in respect of which the Board of Faron has confirmed subscriptions are the following Options which were issued to Directors and other Persons Discharging Managerial Responsibility ("PDMRs"):
Director | Options granted |
Markku Jalkanen | 80,000 |
Frank Armstrong | 40,000 |
Yrjö E K Wichmann | 30,000 |
Matti Manner | 20,000 |
Jonathan Knowles | 20,000 |
Huaizheng Peng | 20,000 |
Leopoldo Zambeletti | 20,000 |
Gregory Brown | 20,000 |
John Poulos | 20,000 |
Total Directors | 270,000 |
PDMRs | |
Mikael Maksimow | 32,270 |
Matti Karvonen | 32,270 |
Jami Mandelin | 32,270 |
Juho Jalkanen | 32,270 |
Total PDMRs | 129,080 |
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
Panmure Gordon (UK) Limited, Nominated Adviser and Broker
Freddy Crossley, Duncan Monteith (Corporate Finance)
Tom Salvesen (Corporate Broking)
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, is currently the only treatment for Acute Respiratory Distress Syndrome (ARDS) undergoing Phase III clinical trials and in 2017 received advice from US FDA to proceed directly to BLA submission following completion of EU and Japanese Phase III studies. 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.faron.com
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 | Markku Jalkanen | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Person discharging managerial responsibilities | ||||||
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 | Options over ordinary sharesISIN: FI4000153309 | ||||||
b. | Nature of the transaction | Grant of options made pursuant to the Faron 2015 Option Plan exercisable at 839 Euro cents per Ordinary Share | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil |
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
80,000
Nil
| ||||||
e. | Date of the transaction | 16 November 2017 | ||||||
f. | Place of the transaction | Turku
| ||||||
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 | Frank Armstrong | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Person discharging managerial responsibilities | ||||||
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 | Options over ordinary sharesISIN: FI4000153309 | ||||||
b. | Nature of the transaction | Grant of options made pursuant to the Faron 2015 Option Plan exercisable at 839 Euro cents per Ordinary Share | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil | 40,000
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
40,000
Nil
| ||||||
e. | Date of the transaction | 16 November 2017 | ||||||
f. | Place of the transaction | Turku
| ||||||
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 | Yrjö E K Wichmann | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Person discharging managerial responsibilities | ||||||
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 | Options over ordinary sharesISIN: FI4000153309 | ||||||
b. | Nature of the transaction | Grant of options made pursuant to the Faron 2015 Option Plan exercisable at 839 Euro cents per Ordinary Share | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil |
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
30,000
Nil
| ||||||
e. | Date of the transaction | 16 November 2017 | ||||||
f. | Place of the transaction | Turku
| ||||||
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 | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Person discharging managerial responsibilities | ||||||
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 | Options over ordinary sharesISIN: FI4000153309 | ||||||
b. | Nature of the transaction | Grant of options made pursuant to the Faron 2015 Option Plan exercisable at 839 Euro cents per Ordinary Share | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil |
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
20,000
Nil
| ||||||
e. | Date of the transaction | 16 November 2017 | ||||||
f. | Place of the transaction | Turku
| ||||||
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 | Jonathan Knowles | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Person discharging managerial responsibilities | ||||||
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 | Options over ordinary sharesISIN: FI4000153309 | ||||||
b. | Nature of the transaction | Grant of options made pursuant to the Faron 2015 Option Plan exercisable at 839 Euro cents per Ordinary Share | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil |
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
20,000
Nil
| ||||||
e. | Date of the transaction | 16 November 2017 | ||||||
f. | Place of the transaction | Turku
| ||||||
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 | Huaizheng Peng | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Person discharging managerial responsibilities | ||||||
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 | Options over ordinary sharesISIN: FI4000153309 | ||||||
b. | Nature of the transaction | Grant of options made pursuant to the Faron 2015 Option Plan exercisable at 839 Euro cents per Ordinary Share | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil |
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
20,000
Nil
| ||||||
e. | Date of the transaction | 16 November 2017 | ||||||
f. | Place of the transaction | Turku
| ||||||
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 | Leopoldo Zambeletti | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Person discharging managerial responsibilities | ||||||
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 | Options over ordinary sharesISIN: FI4000153309 | ||||||
b. | Nature of the transaction | Grant of options made pursuant to the Faron 2015 Option Plan exercisable at 839 Euro cents per Ordinary Share | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil |
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
20,000
Nil
| ||||||
e. | Date of the transaction | 16 November 2017 | ||||||
f. | Place of the transaction | Turku
| ||||||
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 | Gregory Brown | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Person discharging managerial responsibilities | ||||||
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 | Options over ordinary sharesISIN: FI4000153309 | ||||||
b. | Nature of the transaction | Grant of options made pursuant to the Faron 2015 Option Plan exercisable at 839 Euro cents per Ordinary Share | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil |
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
20,000
Nil
| ||||||
e. | Date of the transaction | 16 November 2017 | ||||||
f. | Place of the transaction | Turku
| ||||||
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 | John Poulos | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Person discharging managerial responsibilities | ||||||
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 | Options over ordinary sharesISIN: FI4000153309 | ||||||
b. | Nature of the transaction | Grant of options made pursuant to the Faron 2015 Option Plan exercisable at 839 Euro cents per Ordinary Share | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil |
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
20,000
Nil
| ||||||
e. | Date of the transaction | 16 November 2017 | ||||||
f. | Place of the transaction | Turku
| ||||||
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 | Mikael Maksimow | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Person discharging managerial responsibilities | ||||||
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 | Options over ordinary sharesISIN: FI4000153309 | ||||||
b. | Nature of the transaction | Grant of options made pursuant to the Faron 2015 Option Plan exercisable at 839 Euro cents per Ordinary Share | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil |
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
32,270
Nil
| ||||||
e. | Date of the transaction | 16 November 2017 | ||||||
f. | Place of the transaction | Turku
| ||||||
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 Korvonen | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Person discharging managerial responsibilities | ||||||
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 | Options over ordinary sharesISIN: FI4000153309 | ||||||
b. | Nature of the transaction | Grant of options made pursuant to the Faron 2015 Option Plan exercisable at 839 Euro cents per Ordinary Share | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil |
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
32,270
Nil
| ||||||
e. | Date of the transaction | 16 November 2017 | ||||||
f. | Place of the transaction | Turku
| ||||||
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 | Jami Mandelin | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Person discharging managerial responsibilities | ||||||
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 | Options over ordinary sharesISIN: FI4000153309 | ||||||
b. | Nature of the transaction | Grant of options made pursuant to the Faron 2015 Option Plan exercisable at 839 Euro cents per Ordinary Share | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil |
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
32,270
Nil
| ||||||
e. | Date of the transaction | 16 November 2017 | ||||||
f. | Place of the transaction | Turku
| ||||||
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 | Juho Jalkanen | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Person discharging managerial responsibilities | ||||||
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 | Options over ordinary sharesISIN: FI4000153309 | ||||||
b. | Nature of the transaction | Grant of options made pursuant to the Faron 2015 Option Plan exercisable at 839 Euro cents per Ordinary Share | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil |
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
32,270
Nil
| ||||||
e. | Date of the transaction | 16 November 2017 | ||||||
f. | Place of the transaction | Turku
| ||||||