Alignment of interests between Oncodesign’s
Management and shareholders
Reserved capital increase for a total of
€300,000
Allocation of free shares and stock options to
the Company’s Management Committee
Regulatory News:
ONCODESIGN (Paris:ALONC) (ALONC – FR0011766229), a
biopharmaceutical group specialized in precision medicine, today
announces the launch of a reserved capital increase for the benefit
of members of its Management Committee.
Philippe GENNE, Chairman and Chief Executive Officer of
Oncodesign, says: “In recent months, the Management Committee
has been working in unison to draw up our business plan through to
2025; we have set the Company ambitious targets, and we will give
ourselves the means to achieve them. Through its participation in
this capital increase, Oncodesign’s Management Committee wants to
send out a strong and clear signal regarding its commitment to,
involvement in and belief in the Oncodesign group’s
development”.
The Board of Directors, at its meeting of September 10, 2020 and
pursuant to the delegation of authority granted to it by the
Shareholders’ Meeting of June 25, 2020 (12th resolution), has
decided to carry out a capital increase for a nominal amount of
€300,000 via the issuance of 30,000 new shares at a unit price of
€10 per share, issue premium included, to the benefit of members of
Oncodesign’s Management Committee. This issue price represents a
premium of 1.2% on the closing price on the eve of the Board’s
decision and a premium of 0.3% on the average volume-weighted price
during the 5 trading sessions preceding the decision.
For information, a shareholder holding 1% of the Company’s share
capital would hold 0.99% of its share capital following the
operation.
The Management Committee members concerned, who have undertaken
to hold the subscribed shares in registered form until January 1,
2024 inclusive, are Thierry Billoué (Head of Human Resources),
Stéphane Gérart (Head of the Artificial Intelligence Business
Unit), Arnaud Lafforgue (Chief Financial Officer), Xavier Morge
(Chief Corporate Business Development Officer) and Fabrice Viviani
(Head of the Service Business Unit).
The new shares will be admitted for trading on the Euronext
Paris market on the same line as Oncodesign’s existing shares
(FR0011766229 ALONC), and will be immediately fungible with those
shares.
The Board has also decided to allocate free shares and stock
options within the framework of the Company’s implementation of
long-term incentive plans aimed at members of Oncodesign’s
Management Committee.
The terms and conditions are as follows:
- 1 free share allocated for every 2 shares subscribed to within
the framework of the aforementioned capital increase, with a
vesting period from the decision to grant until January 1, 2024
inclusive and a 2-year retention period, without any performance
conditions;
- 2 stock options allocated for each share subscribed to within
the framework of the aforementioned capital increase and comprising
the following main characteristics:
- Duration: about 8 years, consisting of a vesting period ending
on January 1st 2024 included followed by a 5-year exercise
period,
- Exercise price: €10
- Internal exercise conditions, i.e. a condition of presence and
conditions assessed according to the achievement of various
objectives set out in the company's business plan up to 2025 and
exercisability conditions based on the evolution of the share
price.
Next financial report: first-half 2020 results on October 1,
2020 (after market close)
Next investor meeting: Investir - Direct Dirigeants event in
Paris on Tuesday October 6, 2020
About ONCODESIGN: www.oncodesign.com
Founded 25 years ago by Dr. Philippe Genne, the Company’s CEO
and Chairman, Oncodesign is a biopharmaceutical company dedicated
to precision medicine. With its unique experience acquired by
working with more than 800 clients, including the world’s largest
pharmaceutical companies, along with its comprehensive
technological platform combining state-of-the-art medicinal
chemistry, pharmacology, regulated bioanalysis, medical imaging and
Artificial Intelligence, Oncodesign is able to predict and
identify, at a very early stage, each molecule's therapeutic
usefulness and potential to become an effective drug. Applied to
kinase inhibitors, which represent a market estimated at over $65
billion by 2027 and accounting for almost 25% of the pharmaceutical
industry’s R&D expenditure, Oncodesign’s technology has already
enabled the targeting of several promising molecules with
substantial therapeutic potential, in oncology and elsewhere, along
with partnerships with pharmaceutical groups such as Bristol-Myers
Squibb. Oncodesign is based in Dijon, France, in the heart of the
town’s university and hospital hub, and within the Paris-Saclay
cluster. Oncodesign has 233 employees and subsidiaries in Canada
and the USA.
Disclaimer
This press release contains certain forward - looking statements
and estimates concerning the Company’s financial condition,
operating results, strategy, projects and future performance and
the markets in which it operates. Such forward-looking statements
and estimates may be identified by words such as “anticipate,”
“believe,” “can,” “could,” “estimate,” “expect,” “intend,” “is
designed to,” “may,” “might,” “plan,” “potential,” “predict,”
“objective,” “should,” or the negative of these and similar
expressions. They incorporate all topics that are not historical
facts. Forward looking statements, forecasts and estimates are
based on management’s current assumptions and assessment of risks,
uncertainties and other factors, known and unknown, which were
deemed to be reasonable at the time they were made but which may
turn out to be incorrect. Events and outcomes are difficult to
predict and depend on factors beyond the Company’s control.
Consequently, the actual results, financial condition, performances
and/or achievements of the Company or of the industry may turn out
to differ materially from the future results, performances or
achievements expressed or implied by these statements, forecasts
and estimates. Owing to these uncertainties, no representation is
made as to the correctness or fairness of these forward-looking
statements, forecasts and estimates. Furthermore, forward-looking
statements, forecasts and estimates speak only as of the date on
which they are made, and the Company undertakes no obligation to
update or revise any of them, whether as a result of new
information, future events or otherwise, except as required by
law.
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Oncodesign Philippe Genne Chairman and CEO Tel. : +33
(0)3 80 78 82 60 investisseurs@oncodesign.com
NewCap Investor Relations Mathilde Bohin / Louis-Victor
Delouvrier Tel. : +33 (0)1 44 71 94 95 oncodesign@newcap.eu
NewCap Media Relations Arthur Rouillé Tel. : +33 (0)1 44
71 00 15 oncodesign@newcap.eu