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PCI Biotech: Exercise of employee share options, mandatory noticifation of trade and resolution to increase share capital
Oslo (Norway), 17 October 2018 – Exercise of employee share options, mandatory notification of trade and resolution to increase the share capital in PCI Biotech Holding ASA (the “Company”).
1. Options exercised and mandatory notification of trade on 17 October 2018
Participants in the Company's share option program have on 17 October 2018 exercised a total number of 170,000 share options. Out of these share options 85,000 were exercised at a strike price of NOK 9.08, 60,000 share options were exercised at a strike price of NOK 3.26 and 25,000 share options were exercised at a strike price of NOK 7.81.
Out of the total number of exercised share options, 70,000 share options at a strike price of NOK 9.08 and 15,000 share options at a strike price of NOK 7.81 are exercised by the primary insider Gaël L’Hévéder (CBDO), who has sold 33,000 shares in the market at an average price of NOK 27.58 per share in order to finance the cash and tax impact of the share option exercise. After the transaction Mr. L’Hévéder hold 62,000 shares and 21,000 share options in the Company.
This announcement also represents a mandatory notification of trade, which is submitted by the Company on behalf of the primary insider.
2. Resolution to increase the share capital
Following the exercise of share options on 17 October 2018, the Company’s Board of Directors, pursuant to an authorisation granted by the Company's Annual General Meeting on May 29th 2018, has decided to increase the Company's share capital with NOK 510,000 by issuing 170,000 new shares, each share of par value NOK 3.00. Subsequent to the transaction, the Company's share capital will be NOK 111,494,670 divided into 37,164,890 shares, each with a nominal value of NOK 3.00 and each giving one vote at the Company’s general meeting. The capital increase will result in gross proceeds of NOK 1,163,400.
Ronny Skuggedal, CFO
Mobile: +47 9400 5757
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.