Zealand Pharma's share capital increases due to exercise of employee warrants.
NORDIC BUSINESS REPORT-November 21, 2017-Zealand Pharma's share capital increases due to exercise of employee warrants
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Zealand Pharma A/S (CPH:ZEAL) reported on Monday an increase to its share capital by a nominal amount of DKK2,500 divided into 2,500 new shares with a nominal value of DKK1 each.
The company said this increase is a consequence of the exercise of warrants granted under one of Zealand's employee warrant programmes. The exercise price was DKK87.45 per share and the total proceeds to Zealand from the capital increase amount to DKK218,625.00.
Employee warrant programmes are a part of the company's incentive scheme and each warrant gives the owner the right to subscribe for one new Zealand share at a pre specified price, the exercise price, in specific predefined time periods before expiration.
Also, these new shares give rights to dividend and other rights from the time of the warrant holder's exercise notice. Each new share carries one vote at Zealand's general meetings. Zealand has only one class of shares.
Zealand Pharma added that these new shares will be listed on Nasdaq Copenhagen after registration of the capital increase with the Danish Business Authority. Following registration of the new shares, the share capital of Zealand will be nominal DKK30,751,327, divided into 30,751,327 shares with a nominal value of DKK1 each.
In addition, the amendment to Zealand's Articles of Association entailed by the share capital increase has been registered with the Danish Business Authority on 20 November 2017.
Zealand Pharma is a biotechnology company focused on the discovery, design and development of innovative peptide-based medicines.
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|Publication:||Nordic Business Report|
|Date:||Nov 21, 2017|
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