Nordic Nanovector ASA: Exercise of employee share options and increase of share capital
Oslo, Norway, 21 April 2016
Participants in Nordic Nanovector ASA's (the "Company") (OSE: NANO) first share option program from 2011/2012 have on 20 April 2016 exercised a total number of 30,000 options at a strike price of NOK 6.25, and 48,333 options at a strike price of NOK 6.75. Each option gives the right to receive one share in the Company.
The Board of Directors of the Company has approved the exercise of the options and resolved to increase the Company's share capital by NOK 15,666.6 through the issuance of 78,333 new shares, each at a nominal or par value of NOK 0.20. Subsequent to the issuance of the new shares, the Company's share capital will be NOK 8,919,474.86 divided into 44,597,374 shares, each at a nominal or par value of NOK 0.20.
The following primary insiders in the Company have exercised share options:
Tone Kvåle, CFO has exercised 30,000 options in the Company, corresponding to 30,000 shares at the strike price of NOK 6.75. After exercising the options, Tone Kvåle holds 210,000 options in the Company. After completion of the share issue, Tone Kvåle will hold 169,854 shares in the Company including shares to related party.
Jostein Dahle, CSO has exercised 20,000 options in the Company, corresponding to 20,000 shares at the strike price of NOK 6.25. After exercising the options, Jostein Dahle will hold 135,000 options in the Company. After completion of the share issue, Jostein Dahle will hold 274,958 shares in the Company including shares to related party.
Anniken Hagen, CQO has exercised 13,333 options in the Company, corresponding to 13,333 shares at the strike price of NOK 6.75. After exercising the options, Anniken Hagen hold 142,000 options and shares in the Company. After completion of the share issue, Anniken Hagen will hold 62,104 shares in the Company.
For further information, please contact:
Tone Kvåle, Chief Financial Officer
Phone: +47 91 51 95 76
About Nordic Nanovector
Nordic Nanovector is a biotech company focusing on the development and commercialisation of novel targeted therapeutics in haematology and oncology. The Company's lead clinical-stage product opportunity is Betalutin®, the first in a new class of Antibody-Radionuclide-Conjugates (ARC) designed to improve upon a complement current options for the treatment of non-Hodgkin Lymphoma (NHL). NHL is an indication with substantial unmet medical need and orphan drug opportunities, representing a growing market worth over USD 12 billion by 2018. Betalutin® comprises a tumour-seeking anti-CD37 antibody (HH1) conjugated to a low intensity radionclide (lutetium-177). The preliminary data has shown promising efficacy and safety profile in an ongoing Phase1/2 study in a difficult-to-treat NHL patient population. The Company is aiming at developing Betalutin® for the treatment of major types of NHL with first regulator submission anticipated in 1H 2019. Nordic Nanovector intends to retain marketing rights and to actively participate in the commercialisation of Betalutin® in core markets, while exploring potential distribution agreements in selected geographies. The Company is committed to developing its ARC pipeline to treat multiple selected cancer indications. Further information about the Company can be found at www.nordicnanovector.com.
This information is subject to duty of disclosure pursuant to Section 4-2 of the Norwegian Securities Trading Act.