Company announcement, Helsinki, 10 June 2019 at 3.00 PM
Nexstim Plc: Amendment of stock option programs
Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company"), the targeted neuromodulation company developing and marketing pioneering, navigated, personalized, non-invasive brain stimulation systems for the treatment of Major Depressive Disorder (MDD), has completed a subscription rights issue which ended on 24 April 2019 in Sweden and on 26 April 2019 in Finland.
Pursuant to the subscription such rights issue the Board of Directors has today on 10 June 2019 resolved to amend the share subscription prices of the Company’s stock option programs 2016B-C and 2017 according to clause II.6 of the terms, so that the share subscription price of such stock option programs is comparable to the price prior the subscription rights issue. Therefore, new share subscription prices for the programs in question shall be:
|Option scheme||Subscription price/share before amendment||Amended Subscription price/share|
|2016B||EUR 4.80||EUR 0.92|
|2016C||EUR 6.00||EUR 1.16|
|2017||EUR 4.80||EUR 0.92|
With respect to the stock option program 2018, the subscription right cut-off date of rights issue in question took place during the pricing period of option rights 2018A and the pricing of option rights 2018A has been calculated based on the Nasdaq Helsinki post-rights-issue adjusted historical share prices of Nexstim Plc (NXTMH). Therefore, the share subscription price for option rights 2018A is EUR 0.26.
The amended terms of the option rights are available on the company's website www.nexstim.com/investors/share-information/.
For the sake of clarity, the share unit price 2019 for Company’s RSU program shall be calculated using the Nasdaq Helsinki post-rights-issue adjusted historical NXTMH share prices. Therefore, the share unit price for RSU 2019 share shall be EUR 0.26.
Martin Jamieson, CEO and Chairman of the Board
Further information is available on the website www.nexstim.com, or by contacting:
Martin Jamieson, Chairman and CEO
+44 771 516 3942
Sisu Partners Oy (Certified Adviser)
+ 358 40 842 4479
Citigate Dewe Rogerson
David Dible/Shabnam Bashir/ Sylvie Berrebi
+44 (0)207 2822949
About Nexstim Plc
Nexstim is a medical technology company focused on the development and commercialization of its world-leading SmartFocusTM TMS technology - a non-invasive brain stimulation system for the treatment of Major Depressive Disorder (MDD). The Company's proprietary Navigated Brain Therapy (NBT®) system, a highly sophisticated 3D navigation, is the only personalised, navigated, transcranial magnetic stimulation (TMS) approach providing accurate targeting of the TMS to the specific area of the brain associated with MDD.
Nexstim's NBT® system has been launched in the US for the treatment of MDD following clearance from the FDA for marketing and commercial distribution for this indication. The NBT® system is CE marked in Europe for the treatment of major depression and chronic neuropathic pain.
In addition, Nexstim is commercialising its Navigated Brain Stimulation (NBS) system for diagnostic applications, based on the same technology. 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 Finland and Nasdaq First North Sweden.
For more information please visit www.nexstim.com