Zealand Pharma grants warrants to employees in Denmark
September 13 2022 - 3:05PM
Company announcement – No. 40 / 2022
Zealand Pharma grants warrants to
employees in Denmark
Copenhagen, DK and Boston, MA,
September 13,
2022 – Zealand Pharma A/S (“Zealand”) (Nasdaq: ZEAL)
(CVR-no. 20 04 50 78), a Copenhagen-based biotechnology company
focused on the discovery and development of innovative
peptide-based medicines, announces granting of warrants to
employees in accordance with Zealand's Remuneration policy and
overall guidelines for incentive pay, as adopted at the annual
general meeting held on April 6, 2022.
WarrantsZealand has granted 19,796 warrants to employees in
Denmark. The warrants are granted under the warrant program covered
by the authority pursuant to Section 8.10 of Zealand's Articles of
Association, adopted on Zealand's general meeting on April 6,
2022.
The warrants are part of an incentive scheme reflecting
Zealand’s objective to attract and retain first-rate employees and
to help ensure shared short- and long-term interests for the
management and employees with shareholders of Zealand.
The 19,796 warrants give the rights to subscribe for up to
19,796 new Zealand shares with a nominal value of DKK 1 each,
corresponding to 0.04% of Zealand's total outstanding share
capital. The exercise price is DKK 141.0, calculated as the closing
price of Zealand’s shares on Nasdaq Copenhagen on September 12,
2022.
The 19,796 warrants granted will vest at the three-year
anniversary of the grant date, and the exercise of the warrants may
take place, in whole or in part after the three-year period, in
defined time windows from September 13, 2025, up to and including
September 13, 2032.
The exercise time windows for all granted warrants are defined
as four times a year during a four-week window following the time
of publication of either the Zealand's annual report or quarterly
or semi-annual reports (three, six and nine months
respectively).
The total new warrants granted have a combined market value of
DKK 1.4 million calculated on the basis of the Black–Scholes model.
The cost of the warrants issued is DKK 70.72. The Black-Scholes
parameters used are a historic volatility of 49.2%, a risk-free
interest rate of 1.88% and a share price of DKK 141.0.
# # #
About Zealand Pharma A/S
Zealand Pharma A/S (Nasdaq: ZEAL) ("Zealand") is a biotechnology
company focused on the discovery and development of peptide-based
medicines. More than 10 drug candidates invented by Zealand have
advanced into clinical development, of which two have reached the
market and three candidates are in late-stage development. In
addition, license collaborations with Boehringer Ingelheim and
AstraZeneca create opportunities for more patients to potentially
benefit from Zealand-invented peptide investigational agents
currently in development.Zealand was founded in 1998 and is
headquartered in Copenhagen, Denmark, with a presence in the U.S.
that includes Boston. For more information about Zealand’s business
and activities, please visit www.zealandpharma.com.
Forward-Looking StatementThe above information
contains forward-looking statements that provide Zealand Pharma’s
expectations or forecasts of future events, including
forward-looking statements about the termination of the Company’s
ADR program. Such forward-looking statements are subject to risks,
uncertainties and inaccurate assumptions, which may cause actual
results to differ materially from expectations set forth herein and
may cause any or all of such forward-looking statements to be
incorrect. If any or all of such forward-looking statements prove
to be incorrect, our actual results could differ materially and
adversely from those anticipated or implied by such statements. All
such forward-looking statements speak only as of the date of this
release and are based on information available to Zealand Pharma as
of the date of this release. Except as required by law, the Company
assumes no obligation to update these forward-looking statements
publicly.
Contact:
Anna Krassowska,
PhDVice President, Investor Relations & Corporate
CommunicationsZealand PharmaEmail: ank@zealandpharma.comDavid Rosen
(U.S. Media)Argot PartnersEmail:
media@zealandpharma.com |
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