Grant of options

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 €3.99 per share (£3.47), 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

[e-mail]  

Peel Hunt LLP, Broker

Christopher Golden, James Steel

Phone: [phone]

Cairn Financial Advisers LLP, Nomad

Sandy Jamieson, Jo Turner, Mark Rogers

Phone: [phone]

Sisu Partners Oy, Certified Adviser on Nasdaq First North

Juha Karttunen

Phone: [phone]

Jukka Järvelä

Phone: [phone]

Consilium Strategic Communications

Mary-Jane Elliott, David Daley, Lindsey Neville

Phone: [phone]

Email: [e-mail]  

Stern Investor Relations

Julie Seidel, Alexa Comai

Phone: [phone]

Email: [e-mail]  

 
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® 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® 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/ 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 made under the Faron Share Option Plan 2019 exercisable at 3.99 per ordinary share
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	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 30,000
d.	Aggregated information - Aggregated Volume - Price	502,333 Nil
e.	Date of the transaction	28 April 2021
f.	Place of the transaction	Turku

 

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