Copenhagen, 2015-05-05 11:42 CEST (GLOBE NEWSWIRE) -- 5 May 2015 - Zealand Pharma A/S (Nasdaq Copenhagen: ZEAL) (”Zealand”) announces the grant of warrants to the company’s Executive Management and employees. The warrants are granted under warrant programs covered by the authority pursuant to Section 8.1 and 8.4 of Zealand’s Articles of Association, adopted at the General Meeting on 2 November 2010 and the General Meeting on 21 April 2015.
The warrant programs are incentive schemes reflecting Zealand’s objective to attract and retain first-rate employees and help ensure common short and long term interests between the management and the shareholders of the company.
A total of 512,609 warrants have been granted, giving the rights to subscription of up to 512,609 new Zealand shares with a nominal value of DKK 1 each and corresponding to 2.2% of the company’s total outstanding share capital. The exercise price is fixed at DKK 101.20 reflecting the closing price of Zealand’s shares on Nasdaq Copenhagen on Monday 4 May 2015 plus 10%.
The exercise of the warrants may take place, in whole or in part, in defined time windows from 5 May 2018 until and including 5 May 2020. The warrants granted to President and CEO, Britt Meelby Jensen, may be exercised, in whole or in part, in defined time windows from 5 May 2016 until and including 5 May 2020. The exercise windows for all granted warrants are defined as four weeks following the publication of Zealand’s full year reports or interim reports for the first quarter, first half or first nine months, respectively.
The total number of new warrants granted to Executive Management and employees has a market value of DKK 16,212,525 calculated on basis of the Black-Scholes model including a 180 days historic volatility of 43.7%, a 5-year risk free interest rate of -0.1% and a share price of DKK 92.00.
Pursuant to Section 28a of the Danish Securities Trading Act, Zealand shall report transactions in the company’s shares and related securities by managerial employees and their related parties. In this regard, Zealand reports the following transactions in connection with the grant of warrants:
| Name: | Britt Meelby Jensen |
| Reason: | President and Chief Executive Officer |
| Issuer: | Zealand Pharma A/S |
| Designation: | Warrants |
| ISIN Code: | DK0060257814 |
| Transaction: | Grant of warrants |
| Trading Date: | 5 May 2015 |
| Market: | Nasdaq Copenhagen |
| Number: | 100,000 |
| Market value: | DKK 3,162,746.84 |
| Name: | Mats Blom |
| Reason: | Senior Vice President and Chief Financial Officer |
| Issuer: | Zealand Pharma A/S |
| Designation: | Warrants |
| ISIN Code: | DK0060257814 |
| Transaction: | Grant of warrants |
| Trading Date: | 5 May 2015 |
| Market: | Nasdaq Copenhagen |
| Number: | 75,000 |
| Market value: | DKK 2,372,060.13 |
| Name: | Adam Steensberg |
| Reason: | Senior Vice President for Development and Chief Medical Officer |
| Issuer: | Zealand Pharma A/S |
| Designation: | Warrants |
| ISIN Code: | DK0060257814 |
| Transaction: | Grant of warrants |
| Trading Date: | 5 May 2015 |
| Market: | Nasdaq Copenhagen |
| Number: | 45,000 |
| Market value: | DKK 1,423,236.08 |
| Name: | Hanne Leth Hillman |
| Reason: | Senior Vice President for Communications & Investor Relations |
| Issuer: | Zealand Pharma A/S |
| Designation: | Warrants |
| ISIN Code: | DK0060257814 |
| Transaction: | Grant of warrants |
| Trading Date: | 5 May 2015 |
| Market: | Nasdaq Copenhagen |
| Number: | 35,000 |
| Market value: | DKK 1,106,961.39 |
| Name: | Keld Fosgerau |
| Reason: | Senior Vice President for Research (acting) |
| Issuer: | Zealand Pharma A/S |
| Designation: | Warrants |
| ISIN Code: | DK0060257814 |
| Transaction: | Grant of warrants |
| Trading Date: | 5 May 2015 |
| Market: | Nasdaq Copenhagen |
| Number: | 25,000 |
| Market value: | DKK 790,686.71 |
| Name: | Helle Størum |
| Reason: | Employee elected member of the Board of Directors |
| Issuer: | Zealand Pharma A/S |
| Designation: | Warrants |
| ISIN Code: | DK0060257814 |
| Transaction: | Grant of warrants |
| Trading Date: | 5 May 2015 |
| Market: | Nasdaq Copenhagen |
| Number: | 6,000 |
| Market value: | DKK 189,764.81 |
| Name: | Christian Thorkildsen |
| Reason: | Employee elected member of the Board of Directors |
| Issuer: | Zealand Pharma A/S |
| Designation: | Warrants |
| ISIN Code: | DK0060257814 |
| Transaction: | Grant of warrants |
| Trading Date: | 5 May 2015 |
| Market: | Nasdaq Copenhagen |
| Number: | 5,000 |
| Market value: | DKK 158,137.34 |
| Name: | Jens Peter Stenvang |
| Reason: | Employee elected member of the Board of Directors |
| Issuer: | Zealand Pharma A/S |
| Designation: | Warrants |
| ISIN Code: | DK0060257814 |
| Transaction: | Grant of warrants |
| Trading Date: | 5 May 2015 |
| Market: | Nasdaq Copenhagen |
| Number: | 1,500 |
| Market value: | DKK 47,441.20 |
●●●●●
For further information, please contact:
Britt Meelby Jensen, President and Chief Executive Officer
Tel: +45 51 67 61 28, email: bmj@zealandpharma.com
Hanne Leth Hillman, Senior Vice President for Communications and Investor Relations
Tel: +45 50 60 36 89, email: hlh@zealandpharma.com
About Zealand Pharma
Zealand Pharma A/S (“Zealand”) (Nasdaq Copenhagen: ZEAL) is a biotechnology company based in Copenhagen, Denmark. Zealand has leading expertise in the discovery, design and development of novel peptide medicines and possesses in-house competences also in clinical trial design and management with a therapeutic focus on metabolic diseases and acute care indications. The company is advancing a pipeline of novel wholly-owned medicines in development alongside a partnered product and development portfolio.
Zealand’s first invented medicine, lixisenatide, a once-daily prandial GLP-1 agonist for the treatment of Type 2 diabetes, is marketed globally (ex-US) as Lyxumia® and in Phase III development as a single-injection combination with Lantus® (LixiLan), both under a global license agreement with Sanofi. US regulatory submission of Lyxumia® is planned for Q3 2015 with US and EU regulatory submissions of LixiLan expected in Q4 2015 and Q1 2016, respectively.
Zealand’s wholly-owned products include danegaptide (prevention of Ischemic Reperfusion Injury) in Phase II and the stable glucagon product, ZP4207 (treatment of severe hypoglycemia) in Phase I as well as several preclinical peptide therapeutics. Partnering represents an important component of strategy to leverage in-house expertise, share development risk in large clinical trials, provide funding and commercialize the company’s products. Zealand currently has global license agreements and partnerships with Sanofi, Helsinn Healthcare, Boehringer Ingelheim and Eli Lilly.
For further information: www.zealandpharma.com Follow us on Twitter @ZealandPharma
