Grant of options

RNS Number : 6156P

Faron Pharmaceuticals Oy

21 November 2016

 



Faron Pharmaceuticals Oy

("Faron" or the "Company")

Grant of options

TURKU - FINLAND, 21 November 2016 - Faron Pharmaceuticals Ltd ("Faron") (LON: FARN), the clinical stage biopharmaceutical company, announces that on 18 November 2016 the Board of Faron granted 400,000 options over ordinary shares in the Company ("Options") under the Faron 2015 Option Plan at an exercise price of 290 euro cents per share. The options are exercisable between 8 October 2016 and 30 September 2021. The details of the 2015 Option Plan are described in the AIM Admission Document dated 11 November 2015, which is available on Company's website.

The granted 400,000 options represent 1.49% of the fully-diluted Ordinary Share Capital of the Company.

Included in the number of options granted on 18 November 2016, the following options were issued to Directors and other Persons Discharging Managerial Responsibility ("PDMRs"):

Director	Options granted
Frank Armstrong	40,000
Matti Manner	20,000
Markku Jalkanen	80,000
Yrjö E K Wichmann	30,000
Juho Jalkanen	20,000
Jonathan Knowles	20,000
Huaizheng Peng	20,000
Leopoldo Zambeletti	20,000
Total directors	250,000

PDMRs
Ilse Piippo	37 400
Mikael Maksimow	28 100
Matti Karvonen	28 100
Total PDMRs	93 600

For more information please contact:

Faron Pharmaceuticals Ltd

Katja Wallenlind

Phone [phone]

E-mail: [e-mail]

Hume Brophy, PR

Mary Clark, Eva Haas, Hollie Vile

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

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

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(s)	1.    Dr Markku Jalkanen 2.    Dr Frank Armstrong 3.    Matti Manner 4.    Dr Juho Jalkanen 5.    Yrjö Wichmann 6.    Leopoldo Zambeletti 7.    Dr Huaizheng Peng 8.    Professor Jonathan Knowles
2	Reason for notification
a.	Position/Status	Directors of the Company
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	Options over ordinary shares ISIN: FI4000153309
b.	Nature of the transaction	Grant of Options to subscribe for Ordinary Shares
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			1.    €2.90 2.    €2.90 3.    €2.90 4.    €2.90 5.    €2.90 6.    €2.90 7.    €2.90 8.    €2.90	80,000 40,000 20,000 20,000 30,000 20,000 20,000 20,000
d.	Aggregated information - Aggregated Volume - Price	250,000
e.	Date of the transaction	18 November 2016
f.	Place of the transaction	Turku

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	1.    Ilse Piippo 2.    Mikael Mksimow 3.    Matti Karvonen
2	Reason for notification
a.	Position/Status	Person discharging managerial responsibilities
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	Options over ordinary shares ISIN: FI4000153309
b.	Nature of the transaction	Grant of Options to subscribe for Ordinary Shares
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			1.    €2.90 2.    €2.90 3.    €2.90	37,400 28,100 28,100
d.	Aggregated information - Aggregated Volume - Price	93,600
e.	Date of the transaction	18 November 2016
f.	Place of the transaction	Turku

 

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