Herantis Pharma Plc
Company release, 2 June 2023 at 3:00 p.m. EEST
The Board of Directors of Herantis Pharma Plc ("Herantis") has on 2 June 2023 decided on a new option rights program 2023 I. Under the new option rights program 2023 I, in aggregate up to 300,000 option rights entitling to shares may be issued to the CEO of Herantis, management team members, and other key personnel. The new option rights program is based on the authorization granted by the Annual General Meeting held on 20 April 2023. There is a weighty financial reason to issue the option rights as they will be offered to management team members and other key personnel to increase their commitment towards long-term contribution to growing shareholder value in Herantis.
The option rights will be offered without consideration. Each option right entitles to subscribe for one new ordinary share in Herantis. The share subscription price is 126% of the volume weighted average share price during 10 trading days preceding the grant date of the option rights.
Granted share options shall vest and become exercisable over a three-year period, with 1/3 becoming exercisable one year after the grant date, with an annual vesting of 1/3 during the second year after the grant date, and with an annual vesting of 1/3 during the third year after the grant date. The options expire five years after the grant date or earlier subject to customary conditions.
Any shares to be subscribed for based on the option rights of the program 2023 I will not represent more than 10% of the company's outstanding shares at any time.
Herantis Pharma Plc
The Board of Directors
For more information, please contact:
Herantis Pharma Plc, Timo Veromaa, Chairman, telephone: +358 40 5739933
Julie Silber/Gabriela Urquilla
Tel.: +46 (0)7 93 486 277/+46 (0)72-396 72 19
Certified Advisor: UB Securities Ltd, Finland: +358 9 25 380 225
About Herantis Pharma Plc
Herantis Pharma Plc is a clinical-stage biotechnology company developing disease modifying therapies for Parkinson’s disease. Herantis’ lead product HER-096, is an advanced small synthetic chemical peptidomimetic molecule developed based on the active site of the parent CDNF protein. It combines the compelling mechanism of action of the CDNF protein with the convenience of subcutaneous administration. The ongoing Phase 1a clinical study will assess safety, tolerability, and blood-brain barrier penetration of subcutaneously administered HER-096. Top-line data is expected by the end of 2023. The shares of Herantis are listed on the Nasdaq First North Growth Market Finland.
Company website: www.herantis.com