4 Apr 2017 07:00
Faron Pharmaceuticals Ltd
("Faron" or the "Company")
Director/PDMR Shareholding
Shares used for collateral of a personal bank loan of the Director
TURKU - FINLAND, 4 April 2017 - Faron Pharmaceuticals Ltd ("Faron") (LON: FARN), the clinical stage biopharmaceutical company, announces that on 30 March 2017 Dr Juho Jalkanen, a Non-Executive Director of Faron, pledged 55,000 ordinary shares of the Company ("Ordinary Shares") held by him, as collateral for a personal bank loan provided to Dr Jalkanen ("Collateral Shares"). Dr Jalkanen's total holding in the Company, including that of his family, continues to be 1,082,570 ordinary shares (including the Collateral Shares).
For more information please contact:
Faron Pharmaceuticals Ltd.Dr Markku Jalkanen, Chief Executive OfficerE-mail: investor.relations@faron.com
Consilium Strategic CommunicationsMary-Jane Elliott, Chris Welsh, Lindsey NevillePhone: +44 (0)20 3709 5700E-mail: faron@consilium-comms.com
Westwicke Partners, IR (US)Chris BrinzeyPhone: 01 339 970 2843E-Mail: chris.brinzey@westwicke.com
Cairn Financial Advisers LLP, Nominated AdviserEmma Earl, Tony Rawlinson, Rebecca Anderson Phone: +44 207 213 0880
Panmure Gordon (UK) Limited, Joint BrokerFreddy Crossley, Duncan Monteith (Corporate Finance)Tom Salvesen (Corporate Broking)Phone: +44 207 886 2500
Whitman Howard Limited, Nominated Broker (UK)Ranald McGregor-Smith, Francis NorthPhone: +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
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
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2 | Reason for notification |
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a. | Position/Status | None-executive director | ||||||
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 | Shares used for collateral of a personal bank loan of the Director | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
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d. | Aggregated information
- Aggregated Volume
- Price |
55,000
GBP294,250.00 | ||||||
e. | Date of the transaction | 30 March 2017 | ||||||
f. | Place of the transaction | Turku
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Faron Pharma (FARN)