Herantis Pharma Plc – allocation of option rights
Herantis Pharma Plc, Company release, 13 April 2022 at 5:35 p.m. EEST
The Board of Directors of Herantis Pharma Plc ("Herantis") has on 13 April 2022 decided to grant a maximum of 168,041 option rights entitling to shares to certain members of the management team under the option rights program 2021 I. The option rights program is based on the authorization granted by the Annual General Meeting held on 15 April 2021 to issue a maximum of 975,000 option rights.
The Board of Directors has in April 2021 resolved on issuance of a total of 961,221 option rights under the option rights program 2021 I. However, 369,262 of the issued option rights have subsequently been returned to the company as a result of the termination of employment or service relationship of certain persons. The Board of Directors have therefore decided on issuance of these new option rights under the option rights program 2021 I and within the limits of the authorization granted by the Annual General Meeting held on 15 April 2021. The total number of option rights granted and outstanding under the option rights program 2021 I after this issuance is 775,000.
The option rights will be offered without consideration. Each option right entitles to subscribe for one ordinary share in Herantis for a subscription price of EUR 2.60 per share. The subscription price corresponds to 126% of the volume weighted average share price during 10 trading days preceding the grant date of 13 April 2022 (30 March 2022–12 April 2022). The subscription price is higher than the subscription price of the company's share in the company's latest share issue against consideration preceding the option grant date.
Granted share options shall vest and become exercisable over a three-year period, with 1/3 becoming exercisable from 13 April 2023, 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 on 13 April 2027 or earlier subject to customary conditions.
For more information, please contact:
Herantis Pharma Plc, Timo Veromaa, Chairman, telephone: +358 40 5739933
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Certified Advisor: UB Securities Ltd, Finland: +358 9 25 380 225, Sweden: +358 40 5161400
Company website: www.herantis.com
Herantis Pharma Plc
Herantis Pharma Plc is an innovative biotech company developing disease modifying therapies for Parkinson’s Disease. Herantis lead product HER-096, is an advanced small and synthetic chemical peptidomimetic version of the active parent CDNF protein. It combines the compelling mechanism of action of the CDNF protein with the ability to be delivered to the brain via subcutaneous administration.
The shares of Herantis are listed on the Nasdaq First North Growth Market Finland and Nasdaq First North Growth Market Sweden. For more information, please visit https://www.herantis.com.