Employee Share Options Excercised
Oslo, Norway,14 March 2007
Photocure had a total of 494,965 employee options outstanding as of 13.3.2007.
Based on the above-mentioned allotment, employees in Photocure have now exercised share options. The Board of Directors has therefore decided to increase the share capital with NOK 18,848.50 through the issue of 37,697 shares at NOK 0.50 each. The share capital increase is based on an authorisation granted to the Board of Directors at the Annual General Meeting held on 20 April 2006.
The Articles of Association for Photocure are changed following the share capital increase and § 4 now reads as follows:
"The share capital of the company amounts to NOK 11,036,334.50 divided on 22,072,669 shares at NOK 0.50 each, registered by name and fully paid. All shares in the Company must be registered with the Norwegian Registry of Securities (VPS)."
The following insider has exercised options in Photocure and subscribed shares at NOK 34.- per share according to the 2005 incentive program (# shares in Photocure after the subscription in paranthesis):
- Grete Hogstad, VP Marketing and Sales 4,000 (4,000)
Photocure ASA is a Norwegian pharmaceutical isted on Oslo Stock Exchange. The company develops and sells pharmaceuticals and medical devices based on proprietary photodynamic technologies, targeting key dermatology and oncology markets.
Photocure has two products with sales and marketing approvals: Metvix®, which is a product developed for the treatment of skin cancer (basal cell carcinoma) and pre-cancerous skin lesions (actinic keratosis), and Hexvix®, which is developed for the detection of bladder cancer. Both products are based on the same photodynamic technology, combining the drug known as a photosensitiser with a light source that activates the photosensitiser. Photocure aims to develop a pipeline of follow-on products and technologies.
For further information, contact:
Photocure ASA
Attn. Kjetil Hestdal (President and CEO) or Christian Fekete (CFO)
Kjetil Hestdal (kh@photocure.no), Mobile: +47 913 19 535
Christian Fekete (cf@photocure.no), Mobile: +47 916 42 938