Herantis Pharma Plc's board decides on new option rights program for managing director, management team and other key personnel
Herantis Pharma Plc
Company release, 15 September 2022 at 3:30 p.m. EEST
The Board of Directors of Herantis Pharma Plc ("Herantis") has on 12 September 2022 decided on a new option rights program 2022 I based on the authorization granted by the Annual General Meeting held on 21 April 2022. Under the new option rights program 2022 I, in aggregate up to 200,000 option rights entitling to shares may be issued to the CEO of Herantis, management team members, and other key personnel. 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. The share subscription price is 126% of the volume weighted average share price during 10 trading days preceding the grant date of the option rights.
Granted share options shall vest and become exercisable over a three-year period, with 1/3 becoming exercisable one year after the grant date, 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 five years after the grant date or earlier subject to customary conditions.
Any shares to be subscribed for based on the option rights of the program 2022 I, will not represent more than 10% of the company's outstanding shares at any time.
Herantis Pharma Plc
The Board of Directors
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: ir@herantis.com
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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 Pharma Plc is an innovative biotech company developing disease modifying therapies for Parkinson’s disease. Herantis lead product HER-096, is an advanced small and synthetic chemical peptidomimetic molecule developed based on the active site of the parent CDNF protein. It combines the compelling mechanism of action of the CDNF protein with the convenience of subcutaneous administration.
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