Company Announcement no. 10/2016
To: NASDAQ Copenhagen A/S Hørsholm, Denmark, 19 May, 2016
Veloxis Pharmaceuticals A/S establishes new Warrant Programme
Today, the Board of Directors of Veloxis has decided to establish a new warrant programme for employees of the Company. Thus, the Board of Directors of the Company has today partly exercised its authorisation pursuant to 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 employees and the shareholders of the Company.
A total of 3,630,000 warrants are to be awarded, giving the right to subscription of up to 3,630,000 shares each of DKK 0.1. The exercise price is fixed at DKK 1.24.
The warrant holders earn the right to exercise warrants with 1/36 per month as from the date of grant 19 May 2016. Warrants that are not exercised on 19 May 2023 expire automatically.
The issued warrants are estimated to have a total market value of DKK 1.8 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 1.24.
For more information, please contact:
Veloxis Pharmaceuticals A/S
Craig Alexander Collard
President & CEO
Phone: +1 732 321 3202
Email: cac@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 Copenhagen under the trading symbol VELO.
For further information, please visit www.veloxis.com.
