TIDMFARN
RNS Number : 0985X
Faron Pharmaceuticals Oy
29 April 2021
Faron Pharmaceuticals Oy
("Faron" or the "Company")
Grant of options
Company announcement, 29 April 2021 at 14.45 (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 728,333 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 24 March 2022 and 24 March 2026 at an exercise
price of EUR3.99 per share (GBP3.47), vesting 25% per annum over
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 for 90 days preceding the allocation date of 24
March 2021. The 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 at
https://www.faron.com/investors/general-meetings/2020 .
The granted 728,333 Options entitle the option holders to
subscribe for a total of 728,333 new ordinary shares in the
Company, if exercised in full, and represent 1.4% 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") members 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
Whitaker Anne 30,000
Zambeletti Leopoldo 30,000
Total directors 330,000
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
Total other PDMRs 162,333
SAB member
Curiel Tyler 10,000
Jalkanen Sirpa* 10,000
Knowles Jonathan 10,000
Total SAB 30,000
*Jalkanen Sirpa is a person closely associated ("PCA") to Jalkanen Markku
Total Company personnel 206,000
For more information please contact:
Faron Pharmaceuticals Oy
Dr Markku Jalkanen, Chief Executive Officer
investor.relations@faron.com
Peel Hunt LLP, Broker
Christopher Golden, James Steel
Phone: +44 (0) 20 7418 8900
Cairn Financial Advisers LLP, Nomad
Sandy Jamieson, Jo Turner, Mark Rogers
Phone: +44 (0) 20 7213 0880
Sisu Partners Oy, Certified Adviser on Nasdaq First North
Juha Karttunen
Phone: +358 (0) 40 555 4727
Jukka Järvelä
Phone: +358 (0) 50 553 8990
Consilium Strategic Communications
Mary-Jane Elliott, David Daley, Lindsey Neville
Phone: +44 (0) 20 3709 5700
Email: faron@consilium-comms.com
Stern Investor Relations
Julie Seidel, Alexa Comai
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 caused by dysfunction of
our immune system. The Company currently has a pipeline based on
the receptors involved in regulation of immune response in
oncology, organ damage and bone marrow regeneration. Bexmarilimab,
a novel anti-Clever-1 humanised antibody, is its investigative
precision immunotherapy with the potential to provide permanent
immune stimulation for difficult-to-treat cancers through targeting
myeloid function. Currently in Phase I/II clinical development as a
potential therapy for patients with untreatable solid tumours,
bexmarilimab has potential as a single-agent therapy or in
combination with other standard treatments including immune
checkpoint molecules. Traumakine(R) is an investigational
intravenous (IV) interferon beta-1a therapy for the treatment of
acute respiratory distress syndrome (ARDS) and other ischemic or
hyperinflammatory conditions. Traumakine(R) is currently being
evaluated in global trials as a potential treatment for
hospitalised patients with COVID-19 and with the 59th Medical Wing
of the US Air Force and the US Department of Defense for the
prevention of multiple organ dysfunction syndrome (MODS) after
ischemia-reperfusion injury caused by a major trauma. 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
Whitaker Anne
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 under the Faron Share
transaction Option Plan 2019 exercisable at EUR3.99 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
30,000
Nil 30,000
------------------------------------------------ ------------
d. Aggregated information
- Aggregated 502,333
Volume
Nil
- Price
------------------------- ------------------------------------------------------------------
e. Date of the transaction 28 April 2021
------------------------- ------------------------------------------------------------------
f. Place of the Turku
transaction
------------------------- ------------------------------------------------------------------
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END
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