Faron Pharmaceuticals Oy Exercise of options (9411Z)
September 24 2020 - 1:15AM
UK Regulatory
TIDMFARN
RNS Number : 9411Z
Faron Pharmaceuticals Oy
24 September 2020
Faron Pharmaceuticals Oy
("Faron" or the "Company")
Exercise of options
Issue of equity
Company announcement, 24 September 2020 at 9.15 (EEST)
TURKU, FINLAND - Faron Pharmaceuticals Oy (AIM: FARN, First
North: FARON), the clinical stage biopharmaceutical company,
announces that it has received notifications from option holders to
exercise D options over 15,000 ordinary shares in the Company at an
exercise price of EUR 1.09 (approx. GBP 1.00) per share under the
Company's 2015 Option Plan ("New Ordinary Shares"). The terms and
conditions of the 2015 Option Plan are available on the Company's
website at
https://www.faron.com/sites/default/files/Option%20Plan%202015_Terms%20and%20Conditions_20200518.pdf
.
Applications will be made to the London Stock Exchange and
Nasdaq Helsinki to admit the New Ordinary Shares to trading on AIM
and Nasdaq First North Growth Market, respectively. Admission of
the New Ordinary Shares is expected to occur on or around 5 October
2020 following issue and registration of the New Ordinary Shares on
or around 2 October 2020 ("Registration"). The New Ordinary Shares
will rank pari passu with existing ordinary shares.
Faron's enlarged issued number of shares immediately following
Registration will be 46,814,747 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 46,814,747. 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 Oy
Dr Markku Jalkanen, Chief Executive Officer
investor.relations@faron.com
Cairn Financial Advisers LLP, Nomad
Sandy Jamieson, Jo Turner, Mark Rogers
Phone: +44 207 213 0880
Panmure Gordon (UK) Limited, Broker
Rupert Dearden
Phone: +44 207 886 2500
Sisu Partners Oy, Certified Adviser on Nasdaq First North
Juha Karttunen, Jussi Majamaa
Phone: +358 (0)40 555 4727
Consilium Strategic Communications
Mary-Jane Elliott, David Daley, Lindsey Neville
Phone: +44 (0)20 3709 5700
Email: faron@consilium-comms.com
Stern Investor Relations, Inc.
Julie Seidel, Naina Zaman
Phone: +1 (212) 362-1200
Email: faron@sternir.com
About Faron Pharmaceuticals Oy
Faron (AIM: FARN, First North: FARON) is a clinical stage
biopharmaceutical company developing novel treatments for medical
conditions with significant unmet needs. The Company currently has
a pipeline based on the receptors involved in regulation of immune
response in oncology and organ damage. Clevegen(R), its precision
immunotherapy, is a novel anti-Clever-1 antibody with the ability
to switch immune suppression to immune activation in various
conditions, with potential across oncology, infectious disease and
vaccine development. Currently in phase I/II clinical development
as a novel macrophage checkpoint immunotherapy for patients with
untreatable solid tumours, Clevegen(R) has potential as a
single-agent therapy or in combination with other standard
treatments including immune checkpoint molecules. Traumakine(R),
the Company's pipeline candidate to prevent vascular leakage and
organ failures, has completed a phase III clinical trial in Acute
Respiratory Distress Syndrome (ARDS). Plans for its future
development are being finalised to avoid interfering steroid use
together with Traumakine(R). Faron is based in Turku, Finland.
Further information is available at www.faron.com .
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END
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