PCI Biotech: Exercise of employee share options, mandatory notification of trade and resolution to increase share capital
Oslo (Norway), 4 September 2019 – 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
Primary insider Ronny Skuggedal (CFO) has on 4 September 2019, as a participant in the Company’s share option program, exercised a total number of 40,000 share options at a strike price of NOK 8.63. The share options were granted to Mr Skuggedal in October 2013 and now about to expire unless exercised.
Subsequent to the exercise he has sold 25,300 shares in the market at an average price of NOK 27.08 per share in order to finance the cash and tax impact of the transaction. After the transaction Mr. Skuggedal hold 43,000 shares and 116,000 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 insiders.
2. Resolution to increase the share capital
Following the exercise of share options on 4 September 2019, the Company’s Board of Directors, pursuant to an authorisation granted by the Company's Annual General Meeting on 29 May 2019, have decided to increase the Company's share capital with NOK 120,000 by issuing 40,000 new shares, each share of par value NOK 3.00. Subsequent to the transaction, the Company's share capital will be NOK 111,797,670 divided into 37,265,890 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 345 200.
Per Walday, CEO
Mobile: +47 917 93 429
This information is subject to the disclosure requirements pursuant to section 4-12 and 5-12 of the Norwegian Securities Trading Act.