Exercise of Warrants and Options

RNS Number : 7715G

Faron Pharmaceuticals Oy

01 June 2017

 

Faron Pharmaceuticals Oy

("Faron" or the "Company")

Exercise of Warrants and Options

Issue of Equity

TURKU - FINLAND, 1 June 2017 - Faron Pharmaceuticals Ltd ("Faron") (LON: FARN), the clinical stage biopharmaceutical company, announces that it has received a notification from a warrant holder to exercise warrants over 71,370 ordinary shares in the Company at an exercise price of €1.55 per share and a further 27,040 ordinary shares in the Company at an exercise price of €2.01 per share providing the Company with gross proceeds of €164,973.90 (approximately £143,082).

The Company further announces that it has received a notification from an option holder to exercise options over 15,000 ordinary shares in the Company at an exercise price of €3.71 per share and a further 14,100 ordinary shares in the Company at an exercise price of €2.90 per share providing the Company with gross proceeds of €96,540.00 (approximately £83,729).

Application will be made to the London Stock Exchange to admit the 127,510 new ordinary shares to trading on AIM. Admission of the new ordinary shares is expected to occur on or around 06 June 2017 ("Admission").  The new ordinary shares will rank pari passu with existing ordinary shares. Issue of the new ordinary shares remains subject to such shares being registered at the Finnish Trade Registry.

Faron's enlarged issued number of shares immediately following registration and Admission will be 27,914,544 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 27,914,544. 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 Ltd

Dr Markku Jalkanen, Chief Executive Officer

[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

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 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, cancer immunotherapy and vascular damage. The pipeline is built on Faron's scientific knowledge and control of the endothelial barrier, the membrane of cells lining blood and lymphatic vessels to separate blood content from tissues. The Company's lead candidate Traumakine® is in development for the treatment of Acute Respiratory Distress Syndrome ("ARDS"), a rare, severe, life-threatening medical condition characterised by widespread inflammation in the lungs. Traumakine is currently in pan-European (INTEREST) and Japanese pivotal Phase III studies. Additionally, Faron is developing Clevegen® a ground breaking pre-clinical anti-Clever-1 antibody. Clevegen has the ability to convert the immune environment around a tumour from being immune suppressive to immune stimulating. This novel macrophage-directed immuno-oncology approach is called Tumour Immunity Enabling Technology ("TIET") and can be used alone or in combination with other immune checkpoint molecules for the treatment of cancer patients. New application opportunities related to TIET cover chronic infections and inefficient vaccination. Based in Turku, Finland, Faron Pharmaceuticals is listed on AIM under the ticker 'FARN'. Further information is available at www.faronpharmaceuticals.com

 

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