REG - Faron Pharma. Oy - Grant of options

Faron Pharmaceuticals OyAnnouncement

04/05/2022 11:15

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RNS Number : 2898K  Faron Pharmaceuticals Oy  04 May 2022

Faron Pharmaceuticals Ltd

("Faron" or the "Company")

 

Grant of options

 

Company announcement, 04 May 2022 at 1:15 PM (EEST) 11:15 AM (BST) / 6:15 AM
(EDT)

 

TURKU, FINLAND / BOSTON, MA - Faron Pharmaceuticals Ltd (AIM: FARN, First
North: FARON), a clinical stage biopharmaceutical company focused on building
the future of immunotherapy by harnessing the power of the immune system to
tackle cancer and inflammation, today announces that the Company's board has
confirmed the grant of a total of 497,000 options over ordinary shares in the
Company ("Options") under the Company's Share Option Plan 2019 (including its
UK and US sub plans). The Options have been allocated under the Share Option
Plan 2019 and are exercisable between 24 March 2023 and 24 March 2027, vesting
25% per annum over four years. The exercise price for Options allocated under
the Share Option plan and the UK sub plan is €3.09 per share (£2.57), which
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 2022. The exercise price for Options allocated
under the US sub plan is €2.91 per share (£2.43), which is calculated based
on the average price per share at which the ordinary shares in the Company
have been traded on AIM for 30 days preceding the allocation date of 24 March
2022. The terms of the Share Option Plan 2019 are available on the Company's
website at https://www.faron.com/investors/general-meetings/2020
(https://www.faron.com/investors/general-meetings/2020) .

 

The granted Options entitle the option holders to subscribe for a total of
497,000 new ordinary shares in the Company, if exercised in full, and
represent 0.9% 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:

 

 Directors                                                                    Options granted

 Brown Gregory                                                                30,000
 Poulos John                                                                  30,000
 Whitaker Anne                                                                30,000
                                                                              90,000
 PDMRs
 Fjällskog Marie-Louise                                                        40,000
 Hänninen Toni                                                                40,000
 Kyttä Kaisa                                                                  11,000
 Lahtinen Maria                                                               30,000
 Total PDMRs                                                                  121,000

 SAB member
 Curiel Tyler                                                                 10,000

 Jalkanen Sirpa*                                                              10,000
 Knowles Jonathan                                                             10,000
 Total SAB members                                                            30,000

 *Jalkanen Sirpa is a person closely associated ("PCA") to Jalkanen Markku,
 Chief Executive Officer of the Company

 Total Company personnel                                                      256,000

 

 

For more information please contact:

 

Media / Investor Contact

Faron Pharmaceuticals

Eric Van Zanten

Head of Communications

eric.vanzanten@faron.com (mailto:eric.vanzanten@faron.com)

investor.relations@faron.com (mailto:investor.relations@faron.com)

Phone: +1 (610) 529-6219

 

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

 

Consilium Strategic Communications

Mary-Jane Elliott, David Daley, Lindsey Neville

faron@consilium-comms.com (mailto:faron@consilium-comms.com)

Phone: +44 (0)20 3709 5700

 

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 humanized 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 tumors, 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
hospitalized patients with COVID-19 and with the 59(th) 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 (http://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                                                         a) Brown Gregory

                                                                      b) Fjällskog Marie-Louise

                                                                      c) Hänninen Toni

                                                                      d) Kyttä Kaisa

                                                                      e) Lahtinen Maria

                                                                      f) Jalkanen Sirpa

                                                                      g) Poulos John

                                                                      h) Whitaker Anne
 2       Reason for notification

 a.      Position/Status                                              Person discharging managerial responsibilities/person closely associated
 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                                    Grant of options made under the Faron Share Option Plan 2019 main, UK and US
                                                                      sub plans exercisable at €3.09 per ordinary share and at €2.91 per
                                                                      ordinary share under the US sub plan.
     c.  Price(s) and volume(s)
                                                                                            Price(s)              Volume(s)
                                                                                            Nil                   a) 30,000

                                                                                                                  b) 40,000

                                                                                                                  c) 40,000

                                                                                                                  d) 11,000

                                                                                                                  e) 30,000

                                                                                                                  f) 10,000

                                                                                                                  g) 30,000

                                                                                                                  h) 30,000

 d.      Aggregated information

         - Aggregated Volume

                                                                      221,000 options

         - Price

                                                                      Nil

 e.      Date of the transaction                                      03 May 2022
 f.      Place of the transaction                                     Turku

 

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