Faron Pharmaceuticals Oy Director/PDMR Shareholding (3658I)
June 16 2017 - 9:43AM
UK Regulatory
TIDMFARN
RNS Number : 3658I
Faron Pharmaceuticals Oy
16 June 2017
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/ Initial Notification
Amendment
---- ------------------------ -------------------------------------------------------------------------------------------------------
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 have
been conducted
---- ---------------------------------------------------------------------------------------------------------------------------------
a. Description Ordinary shares
of the financial
instrument, ISIN: FI4000153309
type of instrument
Identification
Code
---- ------------------------ -------------------------------------------------------------------------------------------------------
b. Nature of the Shares used for collateral of
transaction a personal bank loan of the Director
---- ------------------------ -------------------------------------------------------------------------------------------------------
c. Price(s) and Price(s) Volume(s)
volume(s)
---- ------------------------ ------------------------------------------------- ------------------------------------------------
735 pence 70,000
------------------------------------------------------------------------------- ------------------------------------------------
d. Aggregated
information
70,000
- Aggregated
Volume GBP514,500.00
- Price
---- ------------------------ -------------------------------------------------------------------------------------------------------
e. Date of the 13 June 2017
transaction
---- ------------------------ -------------------------------------------------------------------------------------------------------
f. Place of the Turku
transaction
---- ------------------------ -------------------------------------------------------------------------------------------------------
For more information please contact:
Faron Pharmaceuticals Ltd
Dr Markku Jalkanen, Chief Executive Officer
investor.relations@faron.com
Consilium Strategic Communications
Mary-Jane Elliott, Chris Welsh, Lindsey Neville
Phone: +44 (0)20 3709 5700
E-mail: faron@consilium-comms.com
Westwicke Partners, IR (US)
Chris Brinzey
Phone: 01 339 970 2843
E-Mail: chris.brinzey@westwicke.com
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(R) 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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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