Veloxis Pharmaceuticals A/S establishes new Warrant Programme

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| Source: Veloxis Pharmaceuticals A/S
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Company Announcement no. 19/2014

 

 

To: NASDAQ OMX Copenhagen A/S                             Hørsholm, Denmark, 20 august 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 and members of the board of directors. 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 2,255,000 warrants are to be awarded, giving the right to subscription of up to 2,255,000 shares each of DKK 0.1. The exercise price is fixed at DKK 1.86.

 

The warrant holders earn the right to exercise warrants with 1/36 per month as from the date of grant 20 august 2014. Warrants that are not exercised on 20 august 2021 expire automatically.

 

The issued warrants are estimated to have a total market value of DKK 1,707,176. 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 0.37% and a share price of DKK 1.86.
 

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 Pharmaceuticals A/S, or Veloxis, is a specialty pharmaceutical company. The company’s lead product candidate is Envarsus® XR 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 Salix, Inc. Veloxis is listed on the NASDAQ OMX Copenhagen under the trading symbol OMX: VELO.

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