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Nordic Nanovector announces grant of share options.

NORDIC BUSINESS REPORT-March 7, 2016-Nordic Nanovector announces grant of share options

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Nordic Nanovector ASA (OSE: NANO) announced on Friday that its board of directors has decided to grant 510,000 share options in accordance with the proxy given by the Annual General Meeting held on 9 March 2015.

Reportedly, each option, when exercised, can acquire one share in Nordic Nanovector. These options are granted without consideration.

According to the company, the options will expire after seven years. Under the vesting schedule, 25% of each option holder's options will vest 12 months after the day of grant as long as the option holder is still employed. Thereafter, 1/36 of the remaining options will vest each month as long as the option holder is still employed, with the first 1/36 vesting 13 months after the day of grant.

The exercise price of the options is NOK14,24. The exercise price is equal to the volume weighted average trading price of the shares of the company quoted on the Oslo Stock Exchange the last five days prior to the date of the grant.

As on 3 March 2016, the holdings of options and shares in the company after the grant of new share options to primary insider were Luigi Costa, CEO, 1,088,106 options, with 220,000 new options, and owning 73,186 shares; Jostein Dahle, CSO, 155,000 options, with 30,000 new options and owning 254,958 shares including shares to related party; Anniken Hagen, CQO, holding 155,333 options, with 30,000 new options, and owning 48,771 shares; Tone Kvale, CFO, holding 240,000 options, with 35,000 new options, and owning 139,854 shares including shares to related party and Marco Renoldi, CBO, holding 368,137 options, with 90,000 new options, and owning 70,000 shares

These options allocated to the management of the company is in accordance with the board of director's declaration on salaries and other remuneration to the senior executive management, as approved by the company's annual general meeting held 9 March 2015. The total number of outstanding share options is now 2,681,576, equivalent to 5.7% of outstanding shares and options on a fully diluted basis.

Nordic Nanovector is a biotech company focusing on the development and commercialisation of novel targeted therapeutics in haematology and oncology.

(EUR1.00=NOK9.34)

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Publication:Nordic Business Report
Article Type:Statistical data
Geographic Code:4EXNO
Date:Mar 7, 2016
Words:411
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