Faron Pharmaceuticals Ltd
("Faron" or the "Company")
Grant of options
Company announcement, December 4, 2023 at 9 am (EET) / 7 am (GMT)
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 34,000 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 between9 November 2024 and 9 November 2028, vesting 25% per annum over four years. The exercise price for Options allocated under the Share Option plan is ?3,53 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 9 November 2023. The exercise price for Options allocated under the US sub plan is ?3,35 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 9 November 2023. The terms of the Share Option Plan 2019 are available on the Company's website at https://www.faron.com/investors/general-meetings/2020.
The granted 34,000 Options entitle the option holders to subscribe for a total of 34,000 new ordinary shares in the Company, if exercised in full, and represent 0,05% 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
Christine Roth 30,000
Total directors 30,000
Total Company personnel 4,000
For more information please contact:
Investor Contact
LifeSci Advisors?
Daniel Ferry?
Managing Director?
daniel@lifesciadvisors.com?
+1 (617) 430-7576?
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.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 | Christine Roth | |||||||||||||||||
| 2 | Reason for notification |
| |||||||||||||||||
| a. | Position/Status | Person discharging managerial responsibilities/person closely associated | |||||||||||||||||
| 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 | Options over ordinary shares | |||||||||||||||||
| b. | Nature of the transaction | Grant of options made under the Faron Share Option Plan 2019 US sub plans exercisable at ?3.35 per ordinary share. | |||||||||||||||||
| c. | Price(s) and volume(s) | | | | | | |||||||||||||
| | Price(s) | Volume(s) | | ||||||||||||||||
| Nil |
| | |||||||||||||||||
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| d. | Aggregated information
- Aggregated Volume
- Price |
30,000
Nil
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| e. | Date of the transaction | 1 December 2023 | |||||||||||||||||
| f. | Place of the transaction | Turku
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