Members of BioArctic's Board of Directors and Management Increase Their Shareholdings
STOCKHOLM, May 26, 2020 /PRNewswire/ -- BioArctic AB (publ) (Nasdaq Stockholm: BIOA B) announces that seven members of the company's Board and management today have exercised options to purchase shares in the company in accordance with the existing option agreements with the principal owners of BioArctic AB.
Seven members of BioArctic's Board of Directors and management, including the CEO of the company, Gunilla Osswald, have today exercised their options to purchase shares in the company in accordance with the option agreement previously concluded with the principal owners of BioArctic AB.
The program comprised a total of 366,795 shares divided among twelve members of the BioArctic Board of Directors and management. Today, the remaining 159,390 shares were acquired at the exercise price of SEK 26.67 per share, meaning that all rights to purchase shares in the option agreement with the principal owners now have been redeemed (see earlier transaction concluded and described in the press release on May 9(th) 2019).
The company's CEO Gunilla Osswald has exercised 66,270 stock options. To finance the purchase of the shares, Gunilla Osswald has invested an additional approx. SEK 500,000 in cash and made a sale of 25,000 shares to partly finance the purchase. The proceeds from the sale of shares have been fully utilized to acquire new shares in the share option program described above.
After the transaction, the two founders and principal owners' holdings amount to:
· Lars Lannfelt: ownership via Demban AB of 35.51 percent of the shares and 50.09 percent of the votes
· Pär Gellerfors: ownership via Ackelsta AB of 23.67 percent of the shares and 33.39 percent of the votes
"It is gratifying to see that the Board of Directors and management of BioArctic are engaged and see the company's future positively. An increased share ownership strengthens commitment," says BioArctics chairman Wenche Rolfsen in a comment.
For further information, please contact:
Jan Mattsson, CFO, BioArctic AB
E-post: jan.mattsson@bioarctic.se
Phone: +46 8 695 69 30
Mobile: +46 70 352 27 72
This information was submitted for publication at 15:30 a.m. CET on May 26, 2020.
About BioArctic AB
BioArctic AB (publ) is a Swedish research-based biopharma company focusing on disease-modifying treatments and reliable biomarkers and diagnostics for neurodegenerative diseases, such as Alzheimer's disease and Parkinson's disease. BioArctic focuses on innovative treatments in areas with high unmet medical needs. The company was founded in 2003 based on innovative research from Uppsala University, Sweden. Collaborations with universities are of great importance to the company together with its strategically important global partners in the Alzheimer (Eisai) and Parkinson (AbbVie) projects. The project portfolio is a combination of fully funded projects run in partnership with global pharmaceutical companies and innovative in-house projects with significant market and outlicensing potential. BioArctic's Class B share is listed on Nasdaq Stockholm Mid Cap (ticker: BIOA B). For more information about BioArctic, please visit www.bioarctic.com.
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SOURCE BioArctic
