Last checked at 1 Jul 2019 12:10
Faron Pharmaceuticals Ltd
("Faron" or the "Company")
Grant of options
TURKU - FINLAND, 1 July 2019 - Faron (LON: FARN), the clinical stage biopharmaceutical company, announces that the Board of Faron has on 1 July 2019 confirmed the grant of 40,000 D options over ordinary shares in the Company ("Options") under the Faron 2015 Option Plan to Mr. Toni Hänninen, who was appointed as Faron's new CFO from 1 June 2019. The Options have been allocated under the Faron 2015 Option Plan and are exercisable between 8 October 2018 and 30 September 2021 at an exercise price of 109 euro cents per share, as announced on 22 May 2019. The exercise price is calculated based on the average share price between 1 July and 30 September 2018. The terms of the 2015 Option Plan are as described in the Company's Admission Document (available on the Company's website), as amended at the Company's 2017 annual general meeting, details of which were announced on 16 May 2017.
The granted 40,000 Options entitle the option holder to subscribe for a total of 40,000 new ordinary shares in the Company, if exercised in full, and represent 0.1% of the fully-diluted ordinary share capital of the Company.
For more information please contact:
Faron Pharmaceuticals Ltd
Dr Markku Jalkanen, Chief Executive Officer
investor.relations@faron.com
Panmure Gordon (UK) Limited, Nomad and Broker
Emma Earl, Freddy Crossley (Corporate Finance)
James Stearns (Corporate Broking)
Phone: +44 207 886 2500
Consilium Strategic Communications
Mary-Jane Elliott, David Daley, 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
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 first 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 early 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 Turn-on-your-Immunity or Turn-It 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 | Toni Hänninen | ||||||
2 | Reason for notification |
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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 109 Euro cents per Ordinary Share | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
Nil |
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d. | Aggregated information
- Aggregated Volume
- Price |
40,000
Nil
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e. | Date of the transaction | 1 July 2019 | ||||||
f. | Place of the transaction | Turku
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