Release
Exercise of options Issue of equity
Company announcement, 20 November 2020 at 9.00 (EET)
TURKU, FINLAND – Faron Pharmaceuticals Oy (AIM: FARN, First North: FARON), the clinical stage biopharmaceutical company, announces that it has received notifications from option holders to exercise D options over 82,000 ordinary shares in the Company at an exercise price of EUR 1.09 (approx. GBP 0.97) per share under the Company’s 2015 Option Plan (“New Ordinary Shares”). The terms and conditions of the 2015 Option Plan are available on the Company’s website at https://www.faron.com/sites/default/files/Option%20Plan%202015_Terms%20and%20Conditions_20200518.pdf.
Included in the number of New Ordinary Shares are 80,000 D options exercised by Dr Markku Jalkanen, Faron’s CEO.
Applications will be made to the London Stock Exchange and Nasdaq Helsinki to admit the New Ordinary Shares to trading on AIM and Nasdaq First North Growth Market, respectively. Admission of the New Ordinary Shares is expected to occur on or around 1 December 2020 following issue and registration of the New Ordinary Shares on or around 30 November 2020 (“Registration”). The New Ordinary Shares will rank pari passu with existing ordinary shares.
Faron’s enlarged issued number of shares immediately following Registration will be 46,896,747 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 46,896,747. 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.
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Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 |
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| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
| a. | Name | Markku Jalkanen | ||||||
| 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 |
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| b. | Nature of the transaction | Exercise of options made pursuant to the Faron Option Plan 2015 exercisable at €1.09 per ordinary share | ||||||
| c. | Price(s) and volume(s) | |||||||
| Price(s) | Volume(s) | |||||||
| €1.09 |
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| d. | Aggregated information- Aggregated Volume- Price | 80,000€1.09 | ||||||
| e. | Date of the transaction | 19 November 2020 | ||||||
| f. | Place of the transaction | Turku, Finland | ||||||