Faron Pharmaceuticals Oy Grant of options (0479E)
July 01 2019 - 6:10AM
UK Regulatory
TIDMFARN
RNS Number : 0479E
Faron Pharmaceuticals Oy
01 July 2019
Faron Pharmaceuticals Ltd
("Faron" or the "Company")
Grant of options
TURKU - FINLAND, 1 July 2019 - Faron (LON: FARN), the clinical
stage biopharmaceutical company, announces that the Board of Faron
has on 1 July 2019 confirmed the grant of 40,000 D options over
ordinary shares in the Company ("Options") under the Faron 2015
Option Plan to Mr. Toni Hänninen, who was appointed as Faron's new
CFO from 1 June 2019. The Options have been allocated under the
Faron 2015 Option Plan and are exercisable between 8 October 2018
and 30 September 2021 at an exercise price of 109 euro cents per
share, as announced on 22 May 2019. The exercise price is
calculated based on the average share price between 1 July and 30
September 2018. The terms of the 2015 Option Plan are as described
in the Company's Admission Document (available on the Company's
website), as amended at the Company's 2017 annual general meeting,
details of which were announced on 16 May 2017.
The granted 40,000 Options entitle the option holder to
subscribe for a total of 40,000 new ordinary shares in the Company,
if exercised in full, and represent 0.1% of the fully-diluted
ordinary share capital of the Company.
For more information please contact:
Faron Pharmaceuticals Ltd
Dr Markku Jalkanen, Chief Executive Officer
investor.relations@faron.com
Panmure Gordon (UK) Limited, Nomad and Broker
Emma Earl, Freddy Crossley (Corporate Finance)
James Stearns (Corporate Broking)
Phone: +44 207 886 2500
Consilium Strategic Communications
Mary-Jane Elliott, David Daley, 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
About Faron Pharmaceuticals Ltd
Faron (AIM:FARN) 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, vascular damage and cancer immunotherapy. The
Company's first candidate Traumakine, to prevent vascular leakage
and organ failures, has completed a Phase III clinical trial in
Acute Respiratory Distress Syndrome (ARDS). An additional European
Phase II Traumakine trial is underway for the Rupture of Abdominal
Aorta Aneurysm ("RAAA"). Faron's second candidate Clevegen is a
ground breaking early clinical anti-Clever-1 antibody. Clevegen has
the ability to switch immune suppression to immune activation in
various conditions, with potential across oncology, infectious
disease and vaccine development. This novel macrophage-directed
immuno-oncology switch called Turn-on-your-Immunity or Turn-It may
be used alone or in combination with other immune checkpoint
molecules for the treatment of cancer patients. 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 Toni Hänninen
-----------------------------------------------------------
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 Grant of options made pursuant to the Faron
transaction 2015 Option Plan exercisable at 109 Euro
cents per Ordinary Share
--------------------------- -----------------------------------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
--------------------------- -------------
Nil 40,000
---------------------------------------------------- ------------
d. Aggregated information
- Aggregated Volume 40,000
- Price Nil
--------------------------- -----------------------------------------------------------
e. Date of the transaction 1 July 2019
--------------------------- -----------------------------------------------------------
f. Place of the transaction Turku
--------------------------- -----------------------------------------------------------
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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