Company Announcement no. 10/2015
To: NASDAQ OMX Copenhagen A/S Hørsholm, Denmark, 27 March 2015
Veloxis Pharmaceuticals A/S establishes new Warrant Programme
Today, the Board of Directors of Veloxis has decided to establish a new warrant programme for 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 warrants are granted as part of the Board of Directors' remuneration as passed by the annual general meeting on 26 March 2015.
A total of 4,748,092 warrants are to be awarded, giving the right to subscription of up to 4,748,092 shares each of DKK 0.1. The exercise price is fixed at DKK 0.86.
The warrant holders earn the right to exercise warrants with 1/36 per month as from the date of grant 27 March 2015. Warrants that are not exercised on 27 March 2022 expire automatically.
The issued warrants are estimated to have a total market value of DKK 1.6 million. 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% and a share price of DKK 0.86.
For more information, please contact:
Veloxis Pharmaceuticals A/S
Bill Polvino Johnny Stilou
President & CEO EVP, Chief Financial Officer
Phone: +1 732 321 3202 Phone: +45 30 53 33 64
Email: wjp@veloxis.com Email: jst@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. Veloxis’ unique, patented delivery technology, MeltDose®, is designed to enhance the absorption and bioavailability of select orally administered drugs. Veloxis is listed on the NASDAQ OMX Copenhagen under the trading symbol OMX: VELO.
For further information, please visit www.veloxis.com.
