REG - Faron Pharma. Oy - Exercise of options

Faron Pharmaceuticals OyAnnouncement

31/08/2023 14:00

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RNS Number : 9963K  Faron Pharmaceuticals Oy  31 August 2023

Faron Pharmaceuticals Ltd.

 

("Faron")

 

Exercise of options, Directors Dealing

Issue of equity

 

Company announcement, August 31, 2023 at 14:00 p.m. BST / 16:00 p.m. EEST

 

TURKU, FINLAND / BOSTON, MA - Faron Pharmaceuticals Ltd. (AIM: FARN, First
North: FARON), a clinical- stage biopharmaceutical company focused on tackling
cancers via novel immunotherapies, announces that it has received
notifications from option holders to exercise 2015B options over 18,022 in the
Company at an exercise price of EUR 2.90 (approx. GBP 2.48) per share, raising
gross proceeds of approx. EUR 52,264 (approx. GBP   44,695)  and 2015D
options over 67,127 shares in the Company at an exercise price of EUR 1.09
(approx. GBP 0.93) per share, raising gross proceeds of approx. EUR 73,168
(approx. 62,428), 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

consolidated-terms-and-conditions-of-the-option-plan-2015.pdf (faron.com)
(https://www.faron.com/sites/faron-corp/files/faron/investor/general-meeting/2021/consolidated-terms-and-conditions-of-the-option-plan-2015.pdf)

As part of the above exercise of 2015D options, John Poulos, Non-Executive
Director of the Company, has given notice to exercise options over 20,000 new
ordinary shares at exercise price of EUR 1.09 (approx. GBP 0.93). Following
this exercise and admission, John Poulos will be interested in 20,000 ordinary
shares in the Company, representing 0.03% of the Company's enlarged issued
share capital.

 

The notification below, which has been made in accordance with the
requirements of the EU Market Abuse Regulation, provides further detail.

 

 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                                                         John Poulos
 2   Reason for notification

 a.  Position/Status                                              Non-Executive Director
 b.  Initial notification/                                        Initial Notification

     Amendment
 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  Options over ordinary shares

Identification Code
ISIN: FI4000153309
 b.  Nature of the transaction                                    Exercise of options to acquire ordinary shares at an exercise price of EUR
                                                                  1.09 (approx. GBP 0.93)
 c.  Price(s) and volume(s)
                                                                               Price(s)     Volume(s)
     EUR 1.09 (approx. GBP 0.93)                                               20,000

 d.  Aggregated information

     - Aggregated Volume                                          N/A

     - Price

 e.  Date of the transaction                                      August 28, 2023
 f.  Place of the transaction                                     AIM & Nasdaq First North Growth Market

 

 

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 September 11, 2023 following issue and registration of the
New Ordinary Shares on or around September 12, 2023 ("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 66,246,522 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 66,246,522. 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.

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 ("MAR").

 

For more information please contact:

 

Investor Contact

 

LifeSci Advisors

Daniel Ferry

Managing Director

daniel@lifesciadvisors.com (mailto:daniel@lifesciadvisors.com)

+1 (617) 430-7576

 

Media Contact

 

Faron Pharmaceuticals

Jennifer C. Smith-Parker

Head of Communications

Jennifer.Smith-Parker@faron.com (mailto:Jennifer.Smith-Parker@faron.com)

 

Cairn Financial Advisers LLP, Nomad

Sandy Jamieson, Jo Turner

Phone: +44 (0) 207 213 0880

 

Peel Hunt LLP, Broker

Christopher Golden, James Steel

Phone: +44 (0) 20 7418 8900

 

Sisu Partners Oy, Certified Adviser on Nasdaq First North

Juha Karttunen

Phone: +358 (0)40 555 4727

Jukka Järvelä

Phone: +358 (0)50 553 8990

 

About Faron Pharmaceuticals Ltd.

Faron (AIM: FARN, First North: FARON) is a global, clinical-stage
biopharmaceutical company, focused on tackling cancers via novel
immunotherapies. Its mission is to bring the promise of immunotherapy to a
broader population by uncovering novel ways to control and harness the power
of the immune system. The Company's lead asset is bexmarilimab, a novel
anti-Clever-1 humanized antibody, with the potential to remove
immunosuppression of cancers through targeting myeloid cell function.
Bexmarilimab is being investigated in Phase I/II clinical trials as a
potential therapy for patients with hematological cancers in combination with
other standard treatments. Further information is available at www.faron
(https://eur01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.faron.com%2F&data=05%7C01%7C%7Ca4ae0afa96854c5c5f2a08db771ae20d%7Ca2d9b7a432f64a96b03727499230d5fd%7C1%7C0%7C638234729855975666%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=%2FNadoN9wXIGZtfCkFVuLSTXPpNg3%2BBXoRfIQaIPce6k%3D&reserved=0)
.com
(https://eur01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.faron.com%2F&data=05%7C01%7C%7Ca4ae0afa96854c5c5f2a08db771ae20d%7Ca2d9b7a432f64a96b03727499230d5fd%7C1%7C0%7C638234729855975666%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=%2FNadoN9wXIGZtfCkFVuLSTXPpNg3%2BBXoRfIQaIPce6k%3D&reserved=0)
.

 

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