Nordic Nanovector ASA: Increase of Share Capital/Mandatory Notification of Trade and Issuance of PSUs

Published: Jul 03, 2018

OSLO, Norway, July 3, 2018 /PRNewswire/ -- Three of the board members of Nordic Nanovectoer ASA (the "Company") (OSE: NANO), Gisela Schwab, Joanna Horobin and Jean-Pierre Bizzari, have resolved to settle a total number of 6,035 RSUs that were issued to them in June 2017 after they had elected to receive all or part of their remuneration for the period from the annual general meeting in 2017 to the annual general meeting in 2018 in RSUs. Each RSU gives the right to subscribe for one share in the Company at a subscription price of NOK 0.20.

The Board of Directors of the Company has, to fulfil the Company's obligations under the RSU agreements, resolved to issue 6,035 new shares at a subscription price of NOK 0.20 per share giving a total subscription amount of NOK 1,207. The shares are issued pursuant to the authorisation granted to the Board of Directors on the annual general meeting held on 30 May 2018. The Company's registered share capital will, following issuance of the new shares, increase by NOK 1,207. Subsequent to the issuance of the new shares, the Company's registered share capital will be NOK 9,818,336.60 divided into 49,091,683 shares, each with a nominal value of NOK 0.20.

Gisela Schwab, Joanna Horobin and Jean-Pierre Bizzari have subscribed for 2,946 new shares, 2,107 new shares and 982 new shares respectively. The three board members will following issuance of the new shares, have the following holding of shares and RSUs in the Company:

    Name                Total number of RSUs    Total number of shares
    ----                --------------------    ----------------------

                                          5,732                   10,000

    Gisela Schwab
    -------------

                                          4,072                    4,785

    Joanna Horobin
    --------------

                                          2,036                    4,509

    Jean-Pierre Bizzari
    -------------------

The Board of Directors has also resolved to grant 20,000 performance share units (PSUs) to new employees who are not primary insiders under the Company's equity incentive plan that was approved at the Company's annual general meeting on 30 May 2018 (the "AGM"). In accordance with the resolution at the AGM the PSUs will be secured by a corresponding number of free-standing warrants. The sole purpose of the free-standing warrants is to ensure delivery of shares in the Company upon exercise of the PSUs. The free-standing warrants do not give the PSU holder a right to subscribe for any additional shares in the Company.

For further information about the PSUs and the related warrants, see pages 66-68 in the Company's annual report for 2017 and the description of the equity incentive plan on the Company's web page.

For further information, please contact:

Malene Brondberg, VP Investor Relations and Corporate Communications
Cell: +44-7561-431-762
Email: ir@nordicnanovector.com

About Nordic Nanovector

Nordic Nanovector is committed to develop and deliver innovative therapies to patients to address major unmet medical needs and advance cancer care. The Company aspires to become a leader in the development of targeted therapies for haematological cancers. Nordic Nanovector's lead clinical-stage candidate is Betalutin®, a novel CD37-targeting Antibody-Radionuclide-Conjugates (ARC) designed to advance the treatment of non-Hodgkin's Lymphoma (NHL). NHL is an indication with substantial unmet medical need, representing a growing market forecast to be worth nearly USD 20 billion by 2024. Nordic Nanovector intends to retain marketing rights and to actively participate in the commercialisation of Betalutin® in core markets. Further information about the Company can be found at www.nordicnanovector.com.

This information is subject to a duty of disclosure pursuant to Section 5-12 and 4-2 of the Norwegian Securities Trading Act and section 3.2 of the continuing obligations for listed companies.

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SOURCE Nordic Nanovector

   
 

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