Herantis Pharma Plc’s Board decision on new stock option program for senior employees
Herantis Pharma Plc's Board decision on new stock option program for senior employees
Herantis Pharma Plc
Company release 19 May 2016 at 9:00 AM
The Board of Directors of Herantis Pharma Plc ("Herantis") has decided on a new stock option program 2016 I, according to which stock options are offered to senior employees of the company. There is a weighty financial reason to issue the options as they will be offered to senior employees to increase their commitment toward long-term contribution to growing shareholder value in Herantis.
The maximum total number of option rights issued shall be 70,000. Each option entitles to subscribing for one ordinary share of Herantis Pharma Plc for a subscription price of €2.92 per share. The options will be offered without consideration.
The Board of Directors of Herantis has further decided to offer 34,000 of the new options to the senior employees currently employed by the company excluding Managing Director. The remaining 36,000 new options will remain in the possession of Herantis for the time being.
When deciding upon the new stock option program it has been considered that the senior employees of Herantis have previously received 96,625 stock options according to stock option program 2014 II, whose subscription period ends on 31 December 2016, and whose share subscription price varies from €7.32 to €20.73.
The stock options to be given based on the new stock option program correspond to approximately 1.7% of all shares and votes in Herantis after all possible share subscriptions. The new stock option program is based on the authorization by the Annual General Meeting of Herantis on 9 April 2015.
Herantis Pharma Plc, Pekka Simula, CEO, telephone: +358 40 7300 445
Company web site: www.herantis.com
Certified Advisor: UB Securities Ltd, telephone: +358 9 25 380 246
About Herantis Pharma Plc
Herantis Pharma Plc is a drug development company focused on early clinical development of innovative drugs in unmet clinical needs. Our special emphasis is in regenerative medicine where the company has two first-in-class assets based on globally leading science in their fields: CDNF for neurodegenerative diseases, primarily Parkinson's and ALS; and Lymfactin® for breast cancer associated lymphedema, with potential also in primary lymphedema. The shares of Herantis are listed on the First North Finland marketplace run by Nasdaq Helsinki stock exchange.