Company announcement (Inside information), Helsinki, 30 April 2020 at 6.30 PM (EET)
Nexstim Plc: Decisions of the Board of Directors regarding issuance of shares under the restricted share unit plan and directed share issue
Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company") announces that pursuant to the authorisation received from the Company's Extraordinary General Meeting on November 11, 2019 and the restricted share unit reward plan approved by the Annual General Meeting on 26 March 2016, the Board of Directors of the Company has today resolved on issuing altogether 78,606 new shares without payment to two members of the Board of Directors. The members of the Board of Directors participating in the plan are Tomas Holmberg and Rohan Hoare. Rohan Hoare will receive 31,250 shares and Tomas Holmberg will receive 47,356 shares based on the amount of the gross reward for the vesting period 2019-2020 determined by the Annual General Meeting on 25 March 2019.
Pursuant to the authorisation received from the Company's Extraordinary General Meeting on November 11, 2019 and based on the decision made by the Annual General Meeting today, the Board of Directors of the Company has also today decided, that the new members of the Board of Directors elected by the Extraordinary General Meeting of the Company on November 11, 2019 shall be paid half of the amount stipulated in the restricted share unit plan in Company's shares for their contribution during 2019-2020. Therefore, Leena Niemistö and Martin Forss will each be issued, without payment, shares of the Company at a value of € 6,250, calculated using the formula stated in the restricted share unit plan. Leena Niemistö will receive 20,673 shares and Martin Forss will receive 17,067 shares.
The new shares are expected to be listed on or about 8 May 2020. After the issuance, the total number of shares in the Company will be 62,902,976.
Further information is available on the website www.nexstim.com, or by contacting:
Mikko Karvinen, CEO
+358 50 326 4101
Sisu Partners Oy (Certified Adviser)
+ 358 40 842 4479
About Nexstim Plc
Nexstim is a Finnish, globally operating medical technology company. Our mission is to enable personalized and effective therapies and diagnostics for challenging brain diseases and disorders.
Nexstim has developed a world-leading non-invasive brain stimulation technology called SmartFocus®. It is a navigated transcranial magnetic stimulation (nTMS) technology with highly sophisticated 3D navigation providing accurate and personalized targeting of the TMS to the specific area of the brain.
SmartFocus® technology is used in Nexstim’s proprietary Navigated Brain Therapy (NBT®) system, which is FDA cleared for marketing and commercial distribution for the treatment of major depressive disorder (MDD) in the United States. In Europe, the NBT® system is CE marked for the treatment of major depression and chronic neuropathic pain.
In addition, Nexstim is commercializing its SmartFocus® based Navigated Brain Stimulation (NBS) system for diagnostic applications. The NBS system is the only FDA cleared and CE marked navigated TMS system for pre-surgical mapping of the speech and motor cortices of the brain. Nexstim shares are listed on the Nasdaq First North Growth Market Finland and Nasdaq First North Growth Market Sweden.
For more information please visit www.nexstim.com