Faron Pharmaceuticals Oy Exercise of Warrants and Options (7715G)
June 01 2017 - 1:00AM
UK Regulatory
TIDMFARN
RNS Number : 7715G
Faron Pharmaceuticals Oy
01 June 2017
Faron Pharmaceuticals Oy
("Faron" or the "Company")
Exercise of Warrants and Options
Issue of Equity
TURKU - FINLAND, 1 June 2017 - Faron Pharmaceuticals Ltd
("Faron") (LON: FARN), the clinical stage biopharmaceutical
company, announces that it has received a notification from a
warrant holder to exercise warrants over 71,370 ordinary shares in
the Company at an exercise price of EUR1.55 per share and a further
27,040 ordinary shares in the Company at an exercise price of
EUR2.01 per share providing the Company with gross proceeds of
EUR164,973.90 (approximately GBP143,082).
The Company further announces that it has received a
notification from an option holder to exercise options over 15,000
ordinary shares in the Company at an exercise price of EUR3.71 per
share and a further 14,100 ordinary shares in the Company at an
exercise price of EUR2.90 per share providing the Company with
gross proceeds of EUR96,540.00 (approximately GBP83,729).
Application will be made to the London Stock Exchange to admit
the 127,510 new ordinary shares to trading on AIM. Admission of the
new ordinary shares is expected to occur on or around 06 June 2017
("Admission"). The new ordinary shares will rank pari passu with
existing ordinary shares. Issue of the new ordinary shares remains
subject to such shares being registered at the Finnish Trade
Registry.
Faron's enlarged issued number of shares immediately following
registration and Admission will be 27,914,544 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 27,914,544. 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 Ltd
Dr Markku Jalkanen, Chief Executive Officer
investor.relations@faron.com
Consilium Strategic Communications
Mary-Jane Elliott, Chris Welsh, Lindsey Neville
Phone: +44 (0)20 3709 5700
E-mail: faron@consilium-comms.com
Westwicke Partners, IR (US)
Chris Brinzey
Phone: 01 339 970 2843
E-Mail: chris.brinzey@westwicke.com
Cairn Financial Advisers LLP, Nominated Adviser
Emma Earl, Tony Rawlinson
Phone: +44 207 213 0880
Panmure Gordon (UK) Limited, Joint Broker
Freddy Crossley, Duncan Monteith (Corporate Finance)
Tom Salvesen (Corporate Broking)
Phone: +44 207 886 2500
Whitman Howard Limited, Nominated Broker (UK)
Ranald McGregor-Smith, Francis North
Phone: +44 207 659 1234
About Faron Pharmaceuticals Ltd
Faron 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, cancer immunotherapy and vascular damage. The pipeline is
built on Faron's scientific knowledge and control of the
endothelial barrier, the membrane of cells lining blood and
lymphatic vessels to separate blood content from tissues. The
Company's lead candidate Traumakine(R) is in development for the
treatment of Acute Respiratory Distress Syndrome ("ARDS"), a rare,
severe, life-threatening medical condition characterised by
widespread inflammation in the lungs. Traumakine is currently in
pan-European (INTEREST) and Japanese pivotal Phase III studies.
Additionally, Faron is developing Clevegen(R) a ground breaking
pre-clinical anti-Clever-1 antibody. Clevegen has the ability to
convert the immune environment around a tumour from being immune
suppressive to immune stimulating. This novel macrophage-directed
immuno-oncology approach is called Tumour Immunity Enabling
Technology ("TIET") and can be used alone or in combination with
other immune checkpoint molecules for the treatment of cancer
patients. New application opportunities related to TIET cover
chronic infections and inefficient vaccination. Based in Turku,
Finland, Faron Pharmaceuticals is listed on AIM under the ticker
'FARN'. Further information is available at
www.faronpharmaceuticals.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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