Herantis Pharma Plc’s board decides on new option rights program for management team and other key personnel
Herantis Pharma Plc
Company release, 19 April 2021 at 5:10 p.m. Eastern European Summer Time
The Board of Directors of Herantis Pharma Plc (“Herantis”) has on 19 April 2021 decided to grant a maximum of 961,221 option rights entitling to shares to management team members and other key personnel under a new option rights program 2021 I. The new option rights program is based on the authorization granted by the Annual General Meeting held on 15 April 2021. 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 ordinary share in Herantis for a subscription price of EUR 3.44 per share. The subscription price corresponds to 126% of the volume weighted average share price during 10 trading days preceding the grant date of 19 April 2021 (1–16 April 2021).
Granted share options shall vest and become exercisable over a three-year period, with 1/3 becoming exercisable from 19 April 2022, 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 19 April 2026 or earlier subject to customary conditions.
Any shares to be subscribed for based on the option rights of the program 2021 I will not represent more than 10% of the company’s outstanding shares at any time.
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
Email: [email protected]
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Certified Advisor: UB Securities Ltd, Finland: +358 9 25 380 225, Sweden: +358 40 5161400
Company website: www.herantis.com
About Herantis Pharma Plc
Herantis focuses on disease modifying therapies for debilitating neurodegenerative diseases by restoring the neuronal protective mechanism of proteostasis, a key system in neurodegenerative disease. Proteostasis regulates proteins within the body and influences the fate of every protein from synthesis to degradation. Its failure results in a vicious cycle of pathological accumulation of protein aggregates, neuroinflammation and various forms of cellular stress that is widely implicated with the development of many neurodegenerative diseases including Parkinson’s Disease, Alzheimer’s and other diseases. CDNF is a natural protein that occurs naturally in the body whose natural role is to protect neurons by balancing and supporting proteostasis, thereby preventing and counteracting disease generating mechanisms. Herantis is taking this natural ability and harnessing it as a treatment for neurodegenerative disease. CDNF – a biological protein – is Herantis’ lead program and a clinical stage asset; and xCDNF (a synthetic peptide version of CDNF) is Herantis’ follow-on program. Both CDNF and xCDNF, via their multimodal mechanism of action, have the potential to improve neuronal survival and stop the progression of Parkinson’s and other neurodegenerative diseases with a significant therapeutic impact on the quality of patients’ lives.
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
