Business
Grant of Options
Grant of Options.
About this update from Faron Pharmaceuticals Oy
[{"type":"text","content":"\n\nFaron Pharmaceuticals Ltd.\n(\"Faron\" or \"the Company\")\n \nGrant of options\n \nCompany announcement, July 25, 2023\n \nTURKU, FINLAND / BOSTON, MA - Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a clinical-stage biopharmaceutical company focused on tackling cancers via novel immunotherapies, today announces that the Company's board has confirmed the grant of a total of 779,000 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 between June 8, 2024 and June 8, 2028, vesting 25% per annum over four years. The exercise price for Options allocated under the Share Option plan and the UK sub plan is €3.57 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 June 8, 2023. The exercise price for Options allocated under the US sub plan is €3.36 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 June 8, 2023. The terms of the Share Option Plan 2019 are available on the Company's website at htts://www.faron.com/investors/general-meetings/2023.\n \nThe granted 779,000 Options entitle the option holders to subscribe for a total of 779,000 new ordinary shares in the Company, if exercised in full, and represent 1.18 % of the fully diluted ordinary share capital of the Company.\n \nIncluded 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:\n \n\n\n\nDirector\n\n\nOptions granted\n\n\n\n\n\n\n\n\n\n\n\n\nFrank Armstrong\n\n\n60,000\n\n\n\n\nErik Ostrowski\n\n\n30,000\n\n\n\n\nJohn Poulos\n\n\n30,000\n\n\n\n\nAnne Whitaker\n\n\n30,000\n\n\n\n\nTuomo Pätsi\n\n\n30,000\n\n\n\n\nMarkku Jalkanen\n\n\n60,000\n\n\n\n\n\n\n\n\n\n\n\n\nTotal directors\n\n\n240,000\n\n\n\n\n\n\n\n\n\n\n\n\nOther PDMR\n\n\n\n\n\n\n\nJames O'Brien\n\n\n50,000\n\n\n\n\nMarie-Louise Fjällskog\n\n\n40,000\n\n\n\n\nJuho Jalkan...