Veloxis Pharmaceuticals A/S establishes new Warrant Programme


Company Announcement no. 20/2015

 

 

To: NASDAQ OMX Copenhagen A/S                             Hørsholm, Denmark, 27 August 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 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 6,040,000 warrants are to be awarded, giving the right to subscription of up to 6,040,000 shares each of DKK 0.1. The exercise price is fixed at DKK 1.06.

 

The warrant holders earn the right to exercise warrants with 1/36 per month as from the date of grant 27 August 2015. Warrants that are not exercised on 27 August 2022 expire automatically.

 

The issued warrants are estimated to have a total market value of DKK 2.6 million. The market value of the issued warrants is calculated on basis of the Black-Scholes model with a volatility calculated as 52%, an interest level of 0% and a share price of DKK 1.06.
 

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.

 


Attachments

270815 Veloxis Establishes Warrant Programme.pdf