OSLO, Norway, March 1, 2021 /PRNewswire/ -- The board of
directors of Targovax ASA (OSE:TRVX) ("Targovax" or the "Company")
has resolved to increase the share capital of the Company following
the completion of an exercise period for vested share options under
the Company's long-term incentive program for employees. The
exercise period for the LTI program commenced on 19 February 2021 at 10:00 hours (CET) and ended
on 1 March 2021 at 10:00 hours
(CET).
1. Exercise of options
In total, 29,788 options were exercised, giving the option
holders the right to subscribe for 29,788 shares, each with a par
value of NOK 0.10, of which:
- 13,000 options were exercised at a subscription price of
NOK 5.77 per share;
- 6,250 options were exercised at a subscription price of
NOK 6.58 per share; and
- 10,538 options were exercised at a subscription price of
NOK 7.74 per share.
2. Resolutions to increase the share capital in Targovax
ASA
The Company's board of directors has on 1 March 2021, in
accordance with the authorisation granted by the general meeting on
29 April 2020, resolved to increase
the share capital with NOK 2,978.80
by the issuance of 29,788 new shares, each with a par value of
NOK 0.10 in order to facilitate the
exercise of options.
Accordingly, the new share capital of the Company is
NOK 8,656,110.60, divided into
86,561,106 shares, each with a par value of NOK 0.10. The share capital increase will be
registered with the Norwegian Register of Business Enterprises (Nw.
Foretaksregisteret) as soon as practically possible after the share
contribution has been fully paid.
For further information, please contact:
Renate Birkeli, Investor
Relations
Phone: +47 922 61 624
Email: renate.birkeli@targovax.com
Media enquires:
Andreas Tinglum - Corporate
Communications (Norway)
Phone: +47 9300 1773
Email: andreas.tinglum@corpcom.no
IR enquires:
Kim Sutton Golodetz - LHA Investor
Relations (US)
Email: kgolodetz@lhai.com
Phone: +1 212-838-3777
About Targovax
Activating the patient's immune system to fight cancer
Targovax (OSE:TRVX) is a clinical stage immuno-oncology company
developing immune activators to target hard-to-treat solid tumors.
Targovax aims to unlock greater clinical benefits in cancer
patients by deploying multifunctional platforms to target key
immune regulators and oncogenic drivers. Targovax's focus is to
"activate the patient's immune system to fight cancer", thus
extending and transforming the lives of cancer patients with
targeted therapeutic cancer immunotherapies. Targovax's pipeline
aims at different cancer indications, including melanoma,
mesothelioma and colorectal cancer. The products are designed to
harness the patient's own immune system to fight the cancer, whilst
also delivering a favorable safety and tolerability profile.
Targovax's lead product candidate, ONCOS-102, is a genetically
modified oncolytic adenovirus, which has been engineered to
selectively infect cancer cells and activate the immune system to
fight the cancer. On the back of very encouraging data in several
indications, in monotherapy and in multiple combination, the next
development steps for ONCOS-102 will involve a clinical trial with
registration intent in checkpoint inhibitor refractory
melanoma.
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