Company Release no. 25/2017
To: NASDAQ Copenhagen A/S Copenhagen, Denmark, 22
December 2017
Veloxis Pharmaceuticals A/S Grants Warrants Under Existing Warrant Program
Today, the Board of Directors of Veloxis Pharmaceuticals A/S has decided to
issue and grant warrants to the President & CEO of the Company under the
existing Warrant Program covered by the authority under section 5D of the
Company's Articles of Association. Thus, the Board of Directors of the Company
has today partly exercised its authorization pursuant to the Articles of
Association.
The purpose of the grant of warrants is to reflect the Company's objective to
incentivize 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 board members and the CEO and the shareholders of the Company.
A total of 14,000,000 warrants have been issued, giving the right to subscribe
for up to 14,000,000 shares of nominally DKK 0.1 each. The exercise price is
fixed at DKK 0.84.
The warrant holders earn the right to exercise the warrants with 1/36 per month
as from the date of grant, 22 December 2017. Warrants which are not exercised
on 22 December 2024 expire automatically.
The issued warrants are estimated to have a total market value of USD 771,310.
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 0.84.
For more information, please contact:
Craig A. Collard
President & CEO
Phone: +1 919 591 3090
Email: cac@veloxis.com
About Veloxis Pharmaceuticals
Veloxis Pharmaceuticals A/S is a commercial-stage specialty pharmaceutical
company committed to improving the lives of transplant patients. A Danish
company, Veloxis Pharmaceuticals A/S operates in the U.S. through Veloxis
Pharmaceuticals Inc., a wholly-owned subsidiary headquartered in Cary, North
Carolina, USA. Veloxis has successfully developed Envarsus XR (tacrolimus
extended-release tablets) based upon the company's unique and patented delivery
technology, MeltDose, which is designed to enhance the absorption and
bioavailability of select orally administered drugs. The company is focused on
the direct commercialization of Envarsus XR in the U.S., expansion of
partnerships for markets around the world, and acquisition of assets utilized
in transplant patients and by adjacent medical specialties. Veloxis is listed
on the NASDAQ OMX Copenhagen under the trading symbol OMX: VELO. For further
information, please visit www.veloxis.com.
Attachment:
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