20th Jul 2015 15:41
LONDON (Alliance News) - Ergomed PLC Monday said Chief Executive Miroslav Reljanovic, the company's founder, sold 4 million shares at 170 pence each, worth GBP6.8 million.
The pharmaceutical company said Reljanovic also has agreed to grant an option over 176,470 shares from his own holding to Chief Financial Officer Neil Clark and Chief Business Officer Andrew Mackie at an exercise price of GBP0.01. Half of the shares will be exercisable immediately and half will be subject to a year vesting period.
Following the transactions, Reljanovic remains interested in 17.2 million shares in Ergomed, representing approximately 60% of its issued share capital. A medical doctor, Reljanovic founded Ergomed in 1997.
"Ergomed is pleased to broaden the share register with support from existing shareholders as well as new, high-quality investors including a number of continental European investors. It has always been Ergomed's intention to reduce Dr Reljanovic's founder holding and thereby increase liquidity and broaden the institutional shareholder base. Dr Reljanovic remains committed to leading delivery of the company's strategy and we are excited about the future potential in the business," Chairman Rolf Stahel said in a statement.
Shares in Ergomed closed down 4.1% at 175.00 pence on Monday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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