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TRVX - Targovax ASA News Story

NOK7.75 0.3  3.3%

Last Trade - 18/09/20

Sector
Healthcare
Size
Small Cap
Market Cap £50.2m
Enterprise Value £47.1m
Revenue £241k
Position in Universe 997th / 1794

Targovax ASA issues options to employees

Fri 7th April, 2017 6:00am
Targovax ASA issues options to employees

On the basis of the approval by the Annual General Meeting on 5 April 2017 to authorize the Board of Targovax ASA to issue new shares to employees under the Company long-term incentive program, the Board has resolved to issue new options to employees of the Company. A total of 770,000 options for shares of the Company were distributed amongst the members of the executive management and a total of 295,000 options for shares of the Company were distributed amongst other employees. Each option, when exercised, will give the right to acquire one share in the Company. The options are granted without consideration. Pursuant to the vesting schedule, 25% of the options will vest 12 months after the day of grant (as long as the option holder is still employed). Thereafter, 1/36 of the remaining options will vest each month as long as the option holder is still employed, with the first 1/36 vesting 13 months after the day of grant. The exercise price of the options is NOK 21.96. The exercise price is equal to the volume weighted average trading price of the shares of the Company on Oslo Brs on the date of the grant. Options that have not been exercised will lapse 7 years after the date of grant.

Primary insiders in Targovax ASA have received the following options grants, according to the terms
described above:

Chief Executive Officer ystein Soug has been granted 250,000 share options. Following the grant, he holds 100,000 shares and 790,000 options in the Company.

Chief Medical Officer Magnus Jderberg has been granted 150,000 share options. Following the grant, he holds 20,000 shares and 660,000 options in the Company.

Chief Technology Innovation Officer Jon Amund Eriksen has been granted 60,000 share options. Following the grant, he holds 728,601 shares and 220,000 options in the Company.

VP Clinical Development Anne-Kirsti Aksnes has been granted 130,000 share options. Following the grant, she holds 12,000 shares and 283,000 options in the Company.

VP CMC Berit Iversen has been granted 70,000 share options. Following the grant, she holds 7,587 shares and 160,000 options in the Company.

VP Quality Assurance Tina Madsen has been granted 50,000 share options. Following the grant, she holds 6,300 shares (including 1,500 shares held by her close associates) and 103,000 options in the Company.

VP Business Development Peter Skorpil has been granted 30,000 share options. Following the grant, he holds 10,000 shares and 75,000 options in the Company.

Site Manager Helsinki Tiina Hakonen has been granted 30,000 share options. Following the grant, she holds no shares and 75,000 options in the Company.

Investor Relation Renate Birkeli has been granted 20,000 share options. Following the grant, she holds no shares and 42,000 options in the Company.

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For further information please contact:
ystein Soug, CEO
Phone: +47 906 56 525
Email: oystein.soug@targovax.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Targovax ASA via Globenewswire

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