Last checked at 29 Nov 2019 07:31
Faron Pharmaceuticals Oy
LIQUIDITY PROVIDING AGREEMENT
Appointment of Lago Kapital as Liquidity Provider
Company announcement, Turku, 29 November 2019 at 9.31 AM (EET)
Inside information
TURKU - FINLAND- Faron Pharmaceuticals Oy (AIM: FARN) ("Faron" or the "Company"), the clinical stage biopharmaceutical company, announces that it has entered into a liquidity providing agreement (the "LP Agreement") with Lago Kapital Ltd ("Lago Kapital").
Under the LP Agreement, Lago Kapital will quote bids and offers for the Company's share within the framework for the Nasdaq First North Growth Market Finland ("Nasdaq First North") rules for liquidity provision. The spread of the bid and offer prices is a maximum of 4 per cent calculated on the bid price. The quotes on bid and offer must be at least EUR 3,000 worth of shares. The intention is to promote liquidity in the share.
Subject to the applied listing of the Company's share on Nasdaq First North being accepted, Lago Kapital will quote bids and offers for the Company's share in the trading system of Nasdaq First North on each trading day for at least 85 per cent of the continuous trading period and in the auction procedures applicable to the share.
Liquidity providing in accordance with the LP Agreement will commence on 3 December 2019. The LP Agreement will be in force initially for a fixed term of three (3) months and thereafter until further notice with a notice period of one (1) calendar month.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").
For more information please contact:
Faron Pharmaceuticals OyDr Markku Jalkanen, Chief Executive Officerinvestor.relations@faron.com Panmure Gordon (UK) Limited, Nomad and Broker on AIMEmma Earl, Freddy CrossleyPhone: +44 (0)20 7886 2500
Sisu Partners Oy, Certified Adviser on Nasdaq First NorthJuha Karttunen, Jussi MajamaaPhone: +358 (0)40 555 4727
Consilium Strategic CommunicationsMary-Jane Elliott, David Daley, Lindsey Neville Phone: +44 (0)20 3709 5700 Email: faron@consilium-comms.comDistribution:Nasdaq Helsinki LtdKey mediawww.faron.com
About Faron Pharmaceuticals Oy:
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 based on the endothelial receptors involved in regulation of immune response, in oncology and organ damage. Clevegen®, its precision immunotherapy, is a novel anti-Clever-1 antibody with the ability to switch immune suppression to immune activation in various conditions, with potential across oncology, infectious disease and vaccine development. Currently in phase I/II clinical development as a novel macrophage checkpoint immunotherapy for patients with untreatable solid tumours, Clevegen® has potential as a single-agent therapy or in combination with other immune checkpoint molecules or other cancer standard cares. Traumakine®, the Company's pipeline candidate to prevent vascular leakage and organ failures, has completed a phase III clinical trial in Acute Respiratory Distress Syndrome (ARDS). Plans for its future development are being finalised to avoid interfering steroid use together with Traumakine®. Faron is based in Turku, Finland. Further information is available at www.faron.com.