TIDMFARN
RNS Number : 9469F
Faron Pharmaceuticals Oy
20 November 2020
Faron Pharmaceuticals Oy
("Faron" or the "Company")
Exercise of options
Issue of equity
Company announcement, 20 November 2020 at 9.00 (EET)
TURKU, FINLAND - Faron Pharmaceuticals Oy (AIM: FARN, First
North: FARON), the clinical stage biopharmaceutical company,
announces that it has received notifications from option holders to
exercise D options over 82,000 ordinary shares in the Company at an
exercise price of EUR 1.09 (approx. GBP 0.97) per share under the
Company's 2015 Option Plan ("New Ordinary Shares"). The terms and
conditions of the 2015 Option Plan are available on the Company's
website at
https://www.faron.com/sites/default/files/Option%20Plan%202015_Terms%20and%20Conditions_20200518.pdf
.
Included in the number of New Ordinary Shares are 80,000 D
options exercised by Dr Markku Jalkanen, Faron's CEO.
Applications will be made to the London Stock Exchange and
Nasdaq Helsinki to admit the New Ordinary Shares to trading on AIM
and Nasdaq First North Growth Market, respectively. Admission of
the New Ordinary Shares is expected to occur on or around 1
December 2020 following issue and registration of the New Ordinary
Shares on or around 30 November 2020 ("Registration"). The New
Ordinary Shares will rank pari passu with existing ordinary
shares.
Faron's enlarged issued number of shares immediately following
Registration will be 46,896,747 ordinary shares with voting rights
attached. The Company has no shares in treasury; therefore upon,
and subject to, Registration, the total number of voting rights in
Faron will be 46,896,747. This figure may be used by shareholders
as the denominator for the calculations by which they will
determine whether they are required to notify an interest in, or a
change to their interest in, the issued shares and votes of the
Company.
For more information please contact:
Faron Pharmaceuticals Oy
Dr Markku Jalkanen, Chief Executive Officer
investor.relations@faron.com
Cairn Financial Advisers LLP, Nomad
Sandy Jamieson, Jo Turner, Mark Rogers
Phone: +44 (0)20 7213 0880
Panmure Gordon (UK) Limited, Broker
Rupert Dearden
Phone: +44 (0)20 7886 2500
Sisu Partners Oy, Certified Adviser on Nasdaq First North
Juha Karttunen, Jukka Järvelä
Phone: +358 (0)40 555 4727, +358 (0)50 553 8990
Consilium Strategic Communications
Mary-Jane Elliott, David Daley, Lindsey Neville
Phone: +44 (0)20 3709 5700
Email: faron@consilium-comms.com
Stern Investor Relations
Julie Seidel, Naina Zaman
Phone: +1 (212) 362-1200
Email: faron@sternir.com
About Faron Pharmaceuticals Oy
Faron (AIM: FARN, First North: FARON) 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 receptors involved in regulation of immune
response in oncology and organ damage. Clevegen(R) (bexmarilimab),
its investigative 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(R) has
potential as a single-agent therapy or in combination with other
standard treatments including immune checkpoint molecules.
Traumakine(R), the Company's pipeline candidate to prevent vascular
leakage and organ failures is currently being tested in several
phase III studies around the world against COVID-19. Traumakine(R)
is intravenous IFN beta-1a, which is a strong anti-viral and
anti-inflammatory agent. 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/ Initial notification
Amendment
------------------------- ---------------------------------------------------------
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 Options over ordinary shares
the financial
instrument, type ISIN: FI4000153309
of instrument
Identification
Code
------------------------- ---------------------------------------------------------
b. Nature of the Exercise of options made pursuant to the Faron
transaction Option Plan 2015 exercisable at EUR1.09 per
ordinary share
------------------------- ---------------------------------------------------------
c. Price(s) and Price(s) Volume(s)
volume(s)
------------------------- ----------
EUR1.09 80,000
---------- ----------
Aggregated information
- Aggregated
Volume 80,000
d. - Price EUR1.09
------------------------- ---------------------------------------------------------
e. Date of the transaction 19 November 2020
------------------------- ---------------------------------------------------------
f. Place of the Turku, Finland
transaction
------------------------- ---------------------------------------------------------
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END
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(END) Dow Jones Newswires
November 20, 2020 02:00 ET (07:00 GMT)
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