Faron Pharmaceuticals Oy Grant of options (0479E)

TIDMFARN

RNS Number : 0479E

Faron Pharmaceuticals Oy

01 July 2019

Faron Pharmaceuticals Ltd

("Faron" or the "Company")

Grant of options

TURKU - FINLAND, 1 July 2019 - Faron (LON: FARN), the clinical stage biopharmaceutical company, announces that the Board of Faron has on 1 July 2019 confirmed the grant of 40,000 D options over ordinary shares in the Company ("Options") under the Faron 2015 Option Plan to Mr. Toni Hänninen, who was appointed as Faron's new CFO from 1 June 2019. The Options have been allocated under the Faron 2015 Option Plan and are exercisable between 8 October 2018 and 30 September 2021 at an exercise price of 109 euro cents per share, as announced on 22 May 2019. The exercise price is calculated based on the average share price between 1 July and 30 September 2018. The terms of the 2015 Option Plan are as described in the Company's Admission Document (available on the Company's website), as amended at the Company's 2017 annual general meeting, details of which were announced on 16 May 2017.

The granted 40,000 Options entitle the option holder to subscribe for a total of 40,000 new ordinary shares in the Company, if exercised in full, and represent 0.1% of the fully-diluted ordinary share capital of the Company.

For more information please contact:

Faron Pharmaceuticals Ltd

Dr Markku Jalkanen, Chief Executive Officer

[e-mail]

Panmure Gordon (UK) Limited, Nomad and Broker

Emma Earl, Freddy Crossley (Corporate Finance)

James Stearns (Corporate Broking)

Phone: [phone]

Consilium Strategic Communications

Mary-Jane Elliott, David Daley, Lindsey Neville

Phone: [phone]

E-mail: [e-mail]

Westwicke Partners, IR (US)

Chris Brinzey

Phone: [phone]

E-Mail: [e-mail]

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 first candidate Traumakine, to prevent vascular leakage and organ failures, has completed a Phase III clinical trial in Acute Respiratory Distress Syndrome (ARDS). An additional European Phase II Traumakine trial is underway for the Rupture of Abdominal Aorta Aneurysm ("RAAA"). Faron's second candidate Clevegen is a ground breaking early 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 Turn-on-your-Immunity or Turn-It 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.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                         Toni Hänninen 
                                   ----------------------------------------------------------- 
 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               Options over ordinary shares 
        the financial 
        instrument, type             ISIN: FI4000153309 
        of instrument 
 
        Identification 
        Code 
      ---------------------------  ----------------------------------------------------------- 
 b.    Nature of the                Grant of options made pursuant to the Faron 
        transaction                  2015 Option Plan exercisable at 109 Euro 
                                     cents per Ordinary Share 
      ---------------------------  ----------------------------------------------------------- 
 
 c.    Price(s) and volume(s)              Price(s)       Volume(s) 
      ---------------------------         ------------- 
 
      Nil                                                   40,000 
   ----------------------------------------------------  ------------ 
 
 d.    Aggregated information 
 
        - Aggregated Volume           40,000 
 
        - Price                       Nil 
      ---------------------------  ----------------------------------------------------------- 
 e.    Date of the transaction      1 July 2019 
      ---------------------------  ----------------------------------------------------------- 
 f.    Place of the transaction     Turku 
      ---------------------------  ----------------------------------------------------------- 
 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

DSHCKDDKDBKDAOK

(END) Dow Jones Newswires

July 01, 2019 07:10 ET (11:10 GMT)