REG - Faron Pharma. Oy - Grant of Options

Faron Pharmaceuticals OyAnnouncement

25/07/2023 07:00

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RNS Number : 0067H  Faron Pharmaceuticals Oy  25 July 2023

Faron Pharmaceuticals Ltd.

("Faron" or "the Company")

 

Grant of options

 

Company announcement, July 25, 2023

 

TURKU, FINLAND / BOSTON, MA - Faron Pharmaceuticals Ltd. (AIM: FARN, First
North: FARON), a clinical-stage biopharmaceutical company focused on tackling
cancers via novel immunotherapies, today announces that the Company's board
has confirmed the grant of a total of 779,000 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 June 8, 2024 and June 8, 2028,
vesting 25% per annum over four years. The exercise price for Options
allocated under the Share Option plan and the UK sub plan is €3.57 per
share, 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 June 8, 2023. The exercise price for Options allocated
under the US sub plan is €3.36 per share, 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 June 8, 2023. The
terms of the Share Option Plan 2019 are available on the Company's website at
htts://www.faron.com/investors/general-meetings/2023.

 

The granted 779,000 Options entitle the option holders to subscribe for a
total of 779,000 new ordinary shares in the Company, if exercised in full, and
represent 1.18 % 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

 Frank Armstrong                                                               60,000
 Erik Ostrowski                                                                30,000
 John Poulos                                                                   30,000
 Anne Whitaker                                                                 30,000
 Tuomo Pätsi                                                                   30,000
 Markku Jalkanen                                                               60,000

 Total directors                                                               240,000

 Other PDMR
 James O'Brien                                                                 50,000
 Marie-Louise Fjällskog                                                        40,000
 Juho Jalkanen                                                                 65,000
 Maija Hollmén                                                                 6,000
 Vesa Karvonen                                                                 30,000
 Juuso Vakkuri                                                                 30,000
 Kaisa Kyttä                                                                   11,000

 Total other PDMRs                                                             232,000

 SAB member
 Tyler Curiel                                                                  10,000

 Sirpa Jalkanen*                                                               10,000
 Jonathan Knowles                                                              10,000

 Total SAB                                                                     30,000

 * Sirpa Jalkanen is a person closely associated ("PCA") to Markku Jalkanen.

 Total Company personnel                                                       779,000

 

 

For more information please contact:

 

Faron Pharmaceuticals Ltd.

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: +44 207 213 0880

 

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 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)
.

 

 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)    Frank Armstrong

                                                                  b)    Erik Ostrowski

                                                                  c)    John Poulos

                                                                  d)    Anne Whitaker

                                                                  e)    Tuomo Pätsi

                                                                  f)     Markku Jalkanen

                                                                  g)    James O'Brien

                                                                  h)    Marie-Louise Fjällskog

                                                                  i)     Juho Jalkanen

                                                                  j)     Maija Hollmén

                                                                  k)    Vesa Karvonen

                                                                  l)     Juuso Vakkuri

                                                                  m)  Kaisa Kyttä

                                                                  n)    Sirpa Jalkanen
 2   Reason for notification

 a.  Position/Status                                              Person discharging managerial responsibilities
 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 - under the UK
                                                                  and US sub plans the options are exercisable at €3.57 per ordinary share,
                                                                  and at €3.36 per ordinary share respectively.
 c.  Price(s) and volume(s)
                                                                                Price(s)              Volume(s)
     a)     €3.57                                                               a)     60,000

     b)    €3.36                                                                b)    30,000

     c)     €3.36                                                               c)     30,000

     d)    €3.36                                                                d)    30,000

     e)    €3.57                                                                e)    30,000

     f)     €3.57                                                               f)     60,000

     g)     €3.36                                                               g)     50,000

     h)    €3.36                                                                h)    40,000

     i)      €3.57                                                              i)      65,000

     j)      €3.57                                                              j)      6,000

     k)     €3.57                                                               k)     30,000

     l)      €3.57                                                              l)      30,000

     m)   €3.57                                                                 m)   11,000

     n)    €3.57                                                                n)    10,000

 d.  Aggregated information

     - Aggregated Volume                                          Nil

     - Price
 e.  Date of the transaction                                      July 21, 2023
 f.  Place of the transaction                                     Turku

 

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