Photocure ASA – Share option grant and sale of shares
Oslo, Norway, 15 September 2020 - The board of directors in Photocure ASA (the "Company") (OSE: PHO) has granted share options to employees.
Oslo, Norway, 15 September 2020 - The board of directors in Photocure ASA (the "Company") (OSE: PHO) has granted share options to employees.
A total of 500,000 share options, equal to 1.9% of total shares issued in the Company, were granted at an exercise price at NOK 81.41 based on the weighted average share price 30 trading days after the annual general meeting with an additional premium of 10%. The option grant is conditional for 370,000 of the options, and the number of options that may be exercised by each employee will be determined by the board of directors after approval of the annual financial statements for 2020. The remaining 130,000 options are granted in relation to the employment of Susanne Strauss, Vice President and General Manager of Europe Operations and Patricia Kelly, Vice President Global Human Resources.
The options are granted in accordance with Photocure's long term incentive program and the board of directors' declaration on salaries and other remuneration to the senior executive management, as approved by Photocure's annual general meeting held 10 June 2020. The share option program and properties of the options are described in note 7 and 23 to the annual financial statements for 2019.
Of the total grant the following was granted to primary insiders (total holdings of share options following this grant):
In addition to the option grant, the board of directors has resolved a sale of 958 own shares at a price of NOK 30.91 per share to an employee in accordance with its 2018 restricted shares program. Following the sale, Photocure owns 15,666 own shares.
For further information, please contact:
Erik Dahl
Chief Financial Officer
Tel: +47 450 55 000
Email: ed@photocure.no
About Photocure ASA
Photocure, The Bladder Cancer Company, delivers transformative solutions to improve the lives of bladder cancer patients. Our unique technology, which makes cancer cells glow bright pink, has led to better health outcomes for patients worldwide. Photocure is headquartered in Oslo, Norway, and listed on the Oslo Stock Exchange (OSE: PHO). The US headquarters for Photocure Inc., are in Princeton, New Jersey. For more information, please visit us at www.photocure.com, www.hexvix.com or www.cysview.com
This information is subject to the disclosure requirements pursuant to section 5 -12 and 4-2 of the Norwegian Securities Trading Act.