16th Jun 2017 14:43
Faron Pharmaceuticals Oy
("Faron" or the "Company")
Director/PDMR Shareholding
Shares used for collateral of a personal bank loan of the Director
TURKU - FINLAND, 16 June 2017 - Faron Pharmaceuticals Ltd ("Faron") (LON: FARN), the clinical stage biopharmaceutical company, announces that on 13 June 2017 Dr Juho Jalkanen, Vice President of Business Development of Faron, pledged 70,000 ordinary shares of the Company ("Ordinary Shares") held by him, as collateral for a personal bank loan provided to Dr Jalkanen ("Collateral Shares"). Dr Jalkanen's total holding in the Company, including that of his family, continues to be 1,082,570 ordinary shares (including the Collateral Shares). The total number of Ordinary Shares held by Dr Jalkanen and pledged as collateral is 125,000 Ordinary Shares.
The notification below, which has been made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name |
Juho Jalkanen
| ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Person discharging managerial responsibilities
Vice President of Business Development of Faron | ||||||
b. | Initial notification/ Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | Faron Pharmaceuticals Oy | ||||||
b. | LEI | 7437009H31TO1DC0EB42 | ||||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)each type of transaction; (iii) each date; and (iv) each place where transactions havebeen conducted | |||||||
a. | Description of the financial instrument, type of instrumentIdentification Code | Ordinary sharesISIN: FI4000153309 | ||||||
b. | Nature of the transaction | Shares used for collateral of a personal bank loan of the Director | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
735 pence |
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
70,000
GBP514,500.00 | ||||||
e. | Date of the transaction | 13 June 2017 | ||||||
f. | Place of the transaction | Turku
| ||||||
For more information please contact:
Faron Pharmaceuticals Ltd
Dr Markku Jalkanen, Chief Executive Officer
Consilium Strategic Communications
Mary-Jane Elliott, Chris Welsh, Lindsey Neville
Phone: +44 (0)20 3709 5700
E-mail: [email protected]
Westwicke Partners, IR (US)
Chris Brinzey
Phone: 01 339 970 2843
E-Mail: [email protected]
Cairn Financial Advisers LLP, Nominated Adviser
Emma Earl, Tony Rawlinson
Phone: +44 207 213 0880
Panmure Gordon (UK) Limited, Joint Broker
Freddy Crossley, Duncan Monteith (Corporate Finance)
Tom Salvesen (Corporate Broking)
Phone: +44 207 886 2500
Whitman Howard Limited, Nominated Broker (UK)
Ranald McGregor-Smith, Francis North
Phone: +44 207 659 1234
About Faron Pharmaceuticals Ltd
Faron (AIM:FARN) is a clinical stage biopharmaceutical company developing novel treatments for medical conditions with significant unmet needs. The Company currently has a pipeline focusing on acute organ traumas, vascular damage and cancer immunotherapy. The Company's lead candidate Traumakine, to prevent vascular leakage and organ failures, is currently the only treatment for Acute Respiratory Distress Syndrome (ARDS) undergoing Phase III clinical trials. There is currently no approved pharmaceutical treatment for ARDS. An additional European Phase II Traumakine trial is underway for the Rupture of Abdominal Aorta Aneurysm ("RAAA"). Faron's second candidate Clevegen® is a ground breaking pre-clinical anti-Clever-1 antibody. Clevegen has the ability to switch immune suppression to immune activation in various conditions, with potential across oncology, infectious disease and vaccine development. This novel macrophage-directed immuno-oncology switch called Tumour Immunity Enabling Technology ("TIET") may be used alone or in combination with other immune checkpoint molecules for the treatment of cancer patients. Faron is based in Turku, Finland. Further information is available at www.faronpharmaceuticals.com
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Faron Pharmaceuticals