TIDMFARN
RNS Number : 0989C
Faron Pharmaceuticals Oy
14 October 2020
Faron Pharmaceuticals Oy
("Faron" or the "Company")
Grant of options
Company announcement, 14 October 2020 at 4.15 pm (EEST)
TURKU, FINLAND - Faron Pharmaceuticals Oy (AIM: FARN, First
North: FARON), the clinical stage biopharmaceutical company,
announces that the Company's board has confirmed the grant of a
total of 690,333 options over ordinary shares in the Company
("Options") under the Company's Share Option Plan 2019. The Options
have been allocated under the Share Option Plan 2019 and are
exercisable between 23 July 2021 and 23 July 2025 at an exercise
price of EUR3.80 per share (GBP3.44), vesting 25% per annum over a
period of four years. The exercise price is calculated based on the
average price per share at which the ordinary shares in the Company
have been traded on AIM over a period of 90 days preceding the
allocation date of 23 July 2020. The amended terms of the Share
Option Plan 2019 are as attached to the notice of the Company's
2020 annual general meeting, available on the Company's website,
results of which were announced on 18 May 2020.
The granted 690,333 Options entitle the option holders to
subscribe for a total of 690,333 new ordinary shares in the
Company, if exercised in full, and represent 1.5% of the
fully-diluted ordinary share capital of the Company.
Included in the number of Options granted are the following
Options which were issued to directors, other persons discharging
managerial responsibilities ("PDMRs"), Scientific Advisory Board
("SAB") persons closely associated with them ("PCAs") and Company
personnel:
Director Options granted
Armstrong Frank 60,000
Brown Gregory 30,000
Jalkanen Markku 120,000
Manner Matti 30,000
Poulos John 30,000
Zambeletti Leopoldo 30,000
Total directors 300,000
Other PDMR
Honkasalo Pessi 12,000
Hänninen Toni 43,333
Jalkanen Juho 32,500
Karvonen Matti 32,500
Lahtinen Maria 21,000
Mandelin Jami 21,000
Wichmann Yrjö 12,000
Total other PDMRs 174,333
Scientific Advisory Board
Jalkanen Sirpa* 10,000
Knowles Jonathan 10,000
Curiel Tyler 10,000
Total SAB 30,000
*Jalkanen Sirpa is a person closely associated ("PCA") to Jalkanen Markku
Total Company personnel 186,000
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
Phone: +1 (212) 362-1200
Email: Julie.Seidel@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 (bexmarilimab), its
investigative 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 has potential
as a single-agent therapy or in combination with other standard
treatments including immune checkpoint molecules. Traumakine, the
Company's pipeline candidate to prevent vascular leakage and organ
failures is currently being tested in several Phase III studies
around the world against COVID-19. Traumakine is intravenous IFN
beta-1a, which is a strong anti-viral and anti-inflammatory agent.
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 Armstrong Frank
Brown Gregory
Honkasalo Pessi
Hänninen Toni
Jalkanen Juho
Jalkanen Markku
Jalkanen Sirpa
Karvonen Matti
Lahtinen Maria
Mandelin Jami
Manner Matti
Poulos John
Wichmann Yrjö
Zambeletti Leopoldo
--------------------------------------------------------------
2 Reason for notification
---------------------------------------- --------------------------------------------------------------
a. Position/Status Person discharging managerial responsibilities/person
closely associated
---------------------------------------- --------------------------------------------------------------
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 Share Option Plan 2019 exercisable at EUR3.80
per ordinary share
---------------------------------------- --------------------------------------------------------------
c. Price(s) and Price(s) Volume(s)
volume(s)
---------------------------------------- ----------------------------
60,000
30,000
12,000
43,333
32,500
120,000
10,000
32,500
21,000
21,000
30,000
30,000
12,000
Nil 30,000
---------------------------------------------------------------------------- ---------------------------
d. Aggregated information
- Aggregated 484,333
Volume
Nil
- Price
---------------------------------------- --------------------------------------------------------------
e. Date of the transaction 13 October 2020
---------------------------------------- --------------------------------------------------------------
f. Place of the Turku
transaction
---------------------------------------- --------------------------------------------------------------
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END
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