Veloxis Pharmaceuticals A/S establishes new Warrant Programme

        Print
| Source: Veloxis Pharmaceuticals A/S
multilang-release

Company Announcement no. 12/2014

  

To: NASDAQ OMX Copenhagen A/S                             Hørsholm, Denmark, 14 May 2014

  

Veloxis Pharmaceuticals A/S establishes new Warrant Programme

 

Today, the Board of Directors of Veloxis has decided to establish a new warrant programme for new employees of the company. Thus, the Board of Directors of the Company has today partly exercised its authorisation pursuant to Section 5A of the Articles of Association.

The purpose of the grant of warrants is to reflect the company's objective to attract and retain first-rate employees and thus ensure a long-term shareholder value creation. The grant of warrants shall ensure to create - both in the short and in the long run - common interests between the employees and the shareholders of the Company.

A total of 250,000 warrants are to be awarded, giving the right to subscription of up to 250,000 shares each of DKK 0.1. The exercise price is fixed at DKK 1.14.

The warrant holders earn the right to exercise warrants with 1/36 per month as from the date of grant 14 May 2014. Warrants that are not exercised on 14 May 2021 expire automatically.

The issued warrants are estimated to have a total market value of DKK 117,023. The market value of the issued warrants is calculated on basis of the Black-Scholes model with a volatility calculated as 51%, an interest level of 0.70% and a share price of DKK 1.14.
 

For more information, please contact:

 

Veloxis Pharmaceuticals A/S

 

Bill Polvino                                           Johnny Stilou

President & CEO                                   EVP, Chief Financial Officer

Mobile: +1 917 647 9107                      Mobile: +45 21 227 227

Email: wjp@veloxis.com                       Email: jst@veloxis.com

 

For further information, please visit www.veloxis.com.

 

About Veloxis Pharmaceuticals

Based in Hørsholm, Denmark, with an office in New Jersey, Veloxis is a specialty pharmaceutical company. The company's lead product candidate is Envarsus® for immunosuppression, specifically organ transplantation. Veloxis' unique, patented delivery technology, MeltDose®, can improve absorption and bioavailability at low scale up costs. Veloxis has a lipid lowering product, Fenoglide®, currently on the U.S. market that is commercialized through partner Santarus, Inc.

Veloxis is listed on the NASDAQ OMX Copenhagen under the trading symbol OMX: VELO.