Faron Pharmaceuticals Oy Director/PDMR Shareholding (3658I)

TIDMFARN

RNS Number : 3658I

Faron Pharmaceuticals Oy

16 June 2017

Faron Pharmaceuticals Oy

("Faron" or the "Company")

Director/PDMR Shareholding

Shares used for collateral of a personal bank loan of the Director

TURKU - FINLAND, 16 June 2017 - Faron Pharmaceuticals Ltd ("Faron") (LON: FARN), the clinical stage biopharmaceutical company, announces that on 13 June 2017 Dr Juho Jalkanen, Vice President of Business Development of Faron, pledged 70,000 ordinary shares of the Company ("Ordinary Shares") held by him, as collateral for a personal bank loan provided to Dr Jalkanen ("Collateral Shares"). Dr Jalkanen's total holding in the Company, including that of his family, continues to be 1,082,570 ordinary shares (including the Collateral Shares). The total number of Ordinary Shares held by Dr Jalkanen and pledged as collateral is 125,000 Ordinary Shares.

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 
                                                                                                                         Juho Jalkanen 
                                ------------------------------------------------------------------------------------------------------- 
 2     Reason for 
        notification 
----  ------------------------  ------------------------------------------------------------------------------------------------------- 
 a.    Position/Status           Person discharging managerial 
                                  responsibilities 
 
                                  Vice President of Business Development 
                                  of Faron 
----  ------------------------  ------------------------------------------------------------------------------------------------------- 
 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               Ordinary shares 
        of the financial 
        instrument,               ISIN: FI4000153309 
        type of instrument 
 
        Identification 
        Code 
----  ------------------------  ------------------------------------------------------------------------------------------------------- 
 b.    Nature of the             Shares used for collateral of 
        transaction               a personal bank loan of the Director 
----  ------------------------  ------------------------------------------------------------------------------------------------------- 
 
 c.    Price(s) and               Price(s)                                           Volume(s) 
        volume(s) 
----  ------------------------   -------------------------------------------------  ------------------------------------------------ 
          735 pence                                                                   70,000 
   -------------------------------------------------------------------------------  ------------------------------------------------ 
 
 d.    Aggregated 
        information 
                                   70,000 
        - Aggregated 
        Volume                     GBP514,500.00 
 
        - Price 
----  ------------------------  ------------------------------------------------------------------------------------------------------- 
 e.    Date of the               13 June 2017 
        transaction 
----  ------------------------  ------------------------------------------------------------------------------------------------------- 
 f.    Place of the              Turku 
        transaction 
----  ------------------------  ------------------------------------------------------------------------------------------------------- 
 
 

For more information please contact:

Faron Pharmaceuticals Ltd

Dr Markku Jalkanen, Chief Executive Officer

[e-mail]

Consilium Strategic Communications

Mary-Jane Elliott, Chris Welsh, Lindsey Neville

Phone: [phone]

E-mail: [e-mail]

Westwicke Partners, IR (US)

Chris Brinzey

Phone: [phone]

E-Mail: [e-mail]

Cairn Financial Advisers LLP, Nominated Adviser

Emma Earl, Tony Rawlinson

Phone: [phone]

Panmure Gordon (UK) Limited, Joint Broker

Freddy Crossley, Duncan Monteith (Corporate Finance)

Tom Salvesen (Corporate Broking)

Phone: [phone]

Whitman Howard Limited, Nominated Broker (UK)

Ranald McGregor-Smith, Francis North

Phone: [phone]

About Faron Pharmaceuticals Ltd

Faron (AIM:FARN) is a clinical stage biopharmaceutical company developing novel treatments for medical conditions with significant unmet needs. The Company currently has a pipeline focusing on acute organ traumas, vascular damage and cancer immunotherapy. The Company's lead candidate Traumakine, to prevent vascular leakage and organ failures, is currently the only treatment for Acute Respiratory Distress Syndrome (ARDS) undergoing Phase III clinical trials. There is currently no approved pharmaceutical treatment for ARDS. An additional European Phase II Traumakine trial is underway for the Rupture of Abdominal Aorta Aneurysm ("RAAA"). Faron's second candidate Clevegen(R) is a ground breaking pre-clinical anti-Clever-1 antibody. Clevegen has the ability to switch immune suppression to immune activation in various conditions, with potential across oncology, infectious disease and vaccine development. This novel macrophage-directed immuno-oncology switch called Tumour Immunity Enabling Technology ("TIET") may be used alone or in combination with other immune checkpoint molecules for the treatment of cancer patients. Faron is based in Turku, Finland. Further information is available at www.faronpharmaceuticals.com

This information is provided by RNS

The company news service from the London Stock Exchange

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June 16, 2017 09:43 ET (13:43 GMT)