Targovax ASA: Mandatory notification of trade by primary insiders in connection with settlement of RSUs
The following primary insiders (the "Primary Insiders") in Targovax ASA (the "Company") have on 20 March 2020, settled restrictive stock units ("RSUs"), giving the respective Primary Insider the right to subscribe for an equal amount of shares in the Company at a price of NOK 0.10 per share:
- Patrick Vink, chairman of the board of directors, has on 20 March 2020 settled 44,286 RSUs, which were granted at the EGM in 2017 and at the AGM in 2018, respectively;
- Bente-Lill Romøren, member of the board of directors, has on 20 March 2020 settled 5,464 RSUs, which were granted at the AGM 2016; and
- Diane Mellett, member of the board of directors, has on 20 March 2020 settled 26,445 RSUs, which were granted at the AGM in 2016 and at the AGM in 2017, respectively.
The Primary Insiders received the RSUs as part of their board remuneration as approved by the general meetings of the Company and accepted by the relevant Primary Insider. The number of RSUs granted was calculated as the NOK amount of the RSU selected portion of the total remuneration to the board member, divided by the market price for the shares, calculated as the volume weighted average share price for the 10 trading days prior to the date of grant, being NOK 12.20 per share for grants at the AGM in 2016, NOK 23.88 per share for grants at the AGM in 2017, NOK 14.62 per share for grants at the EGM in 2017 and NOK 14.33 per share for grants at the AGM in 2018.
Following the Primary Insiders' subscription for shares and registration of the Company's new share capital, the Primary Insiders and their close associates will hold the following number of shares, RSUs and options in the Company:
- Patrick Vink will hold 44,286 shares, 78,873 RSUs and nil options in the Company;
- Bente-Lill Romøren will hold 10,928 shares, 24,649 RSUs and nil options in the Company; and
- Diane Mellett will hold 44,149 shares, 21,298 RSUs and nil options in the Company.
For further information, please contact:
Renate Birkeli, Investor Relations
Phone: +47 922 61 624
Media and IR enquires:
Andreas Tinglum - Corporate Communications (Norway)
Phone: +47 9300 1773
Activating the patient's immune system to fight cancer
Targovax (OSE:TRVX) is a clinical stage immuno-oncology company developing oncolytic viruses to target hard-to-treat solid tumors. Targovax’s lead product candidate, ONCOS-102, is a genetically modified oncolytic adenovirus, which has been engineered to selectively infect cancer cells and activate the immune system to fight the cancer.
ONCOS-102 is currently being tested in mesothelioma, melanoma and peritoneal malignancies and has already shown promising clinical results both as monotherapy and in combination with chemotherapy, and a checkpoint inhibitor.