Director/PDMR Shareholding

RNS Number : 4456B

Faron Pharmaceuticals Oy

04 April 2017

 

Faron Pharmaceuticals Ltd

("Faron" or the "Company")

Director/PDMR Shareholding

 Shares used for collateral of a personal bank loan of the Director

TURKU - FINLAND, 4 April 2017 - Faron Pharmaceuticals Ltd ("Faron") (LON: FARN), the clinical stage biopharmaceutical company, announces that on 30 March 2017 Dr Juho Jalkanen, a Non-Executive Director of Faron, pledged 55,000 ordinary shares of the Company ("Ordinary Shares") held by him, as collateral for a personal bank loan provided to Dr Jalkanen ("Collateral Shares").   Dr Jalkanen's total holding in the Company, including that of his family, continues to be 1,082,570 ordinary shares (including the Collateral Shares).

For more information please contact:

Faron Pharmaceuticals Ltd.
Dr Markku Jalkanen, Chief Executive Officer
E-mail: [e-mail] 

Consilium Strategic Communications
Mary-Jane Elliott, Chris Welsh, Lindsey Neville
Phone: [phone]
E-mail: [e-mail]

Westwicke Partners, IR (US)
Chris Brinzey
Phone: [phone]
E-Mail: [e-mail]

Cairn Financial Advisers LLP, Nominated Adviser
Emma Earl, Tony Rawlinson, Rebecca Anderson 
Phone: [phone] 

Panmure Gordon (UK) Limited, Joint Broker
Freddy Crossley, Duncan Monteith (Corporate Finance)
Tom Salvesen (Corporate Broking)
Phone: [phone]

Whitman Howard Limited, Nominated Broker (UK)
Ranald McGregor-Smith, Francis North
Phone: [phone]

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 lead candidate Traumakine, to prevent vascular leakage and organ failures, is currently the only treatment for Acute Respiratory Distress Syndrome (ARDS) undergoing Phase III clinical trials.  There is currently no approved pharmaceutical treatment for 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 pre-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 Tumour Immunity Enabling Technology ("TIET") 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.faronpharmaceuticals.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	Juho Jalkanen
2	Reason for notification
a.	Position/Status	None-executive director
b.	Initial notification/ Amendment	Initial Notification
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 the financial instrument, type of instrument Identification Code	Ordinary shares ISIN: FI4000153309
b.	Nature of the transaction	Shares used for collateral of a personal bank loan of the Director
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			535 pence	55,000
d.	Aggregated information - Aggregated Volume - Price	55,000 GBP294,250.00
e.	Date of the transaction	30 March 2017
f.	Place of the transaction	Turku

 

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