Business
Exercise of Warrants and Options
Exercise of Warrants and Options.
About this update from Faron Pharmaceuticals Oy
[{"type":"text","content":"\n \nRNS Number : 7715G Faron Pharmaceuticals Oy 01 June 2017 \n\n \n \nFaron Pharmaceuticals Oy\n\n(\"Faron\" or the \"Company\")\n \nExercise of Warrants and Options\nIssue of Equity\n \nTURKU - FINLAND, 1 June 2017 - Faron Pharmaceuticals Ltd (\"Faron\") (LON: FARN), the clinical stage biopharmaceutical company, announces that it has received a notification from a warrant holder to exercise warrants over 71,370 ordinary shares in the Company at an exercise price of €1.55 per share and a further 27,040 ordinary shares in the Company at an exercise price of €2.01 per share providing the Company with gross proceeds of €164,973.90 (approximately £143,082).\n \nThe Company further announces that it has received a notification from an option holder to exercise options over 15,000 ordinary shares in the Company at an exercise price of €3.71 per share and a further 14,100 ordinary shares in the Company at an exercise price of €2.90 per share providing the Company with gross proceeds of €96,540.00 (approximately £83,729).\n \nApplication will be made to the London Stock Exchange to admit the 127,510 new ordinary shares to trading on AIM. Admission of the new ordinary shares is expected to occur on or around 06 June 2017 (\"Admission\"). The new ordinary shares will rank pari passu with existing ordinary shares. Issue of the new ordinary shares remains subject to such shares being registered at the Finnish Trade Registry.\n \nFaron's enlarged issued number of shares immediately following registration and Admission will be 27,914,544 ordinary shares with voting rights attached. The Company has no shares in treasury; therefore upon, and subject to, registration, the total number of voting rights in Faron will be 27,914,544. This figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify an interest in, or a change to their interest in, the issued shares and votes of the Company.\n \nFor more information please contact:\n \nFaron Pharmaceuticals Ltd\nDr Markku Jalkanen, Chief Executive Officer\[email protected]\n \nConsilium Strategic Communications\nMary-Jane Elliott, Chris Welsh, Lindsey Neville\nPhone: +44 (0)20 3709 5700\nE-mail: [email protected]\n \nWestwicke Partners...