DGAP-News: LifeCycle Pharma A/S Grants Warrants to Employees and Senior Management
ID: 316260
15.12.2010 20:45
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Company Announcement no. 27/2010
To: NASDAQ OMX Copenhagen A/S Horsholm,
Denmark, December 15, 2010
LifeCycle Pharma A/S Grants Warrants to Employees and Senior Management
LifeCycle Pharma A/S (OMX: LCP) today announced that at a board meeting held on
December 15, 2010, the Board of Directors decided to issue 15,478,717 warrants
to the employees and senior management of LCP.
Of the total number of warrants granted, 3,754,310 warrants were granted to
William J. Polvino, President&CEO; 1,307,908 warrants were granted to Peter
G. Nielsen, Senior Vice President, Pharmaceutical Development&CMC; 1,616,605
warrants were granted to Tim C. Melkus, Senior Vice President, Development
Operations; 1,276,218 warrants were granted to Edward E. Koval, Senior Vice
President, Business Development and Strategic Corporate Development; 2,424,896
warrants were granted to Dr. John Weinberg, Senior Vice President, Commercial
Development and Strategic Planning; and 1,617,404 warrants were granted to
Johnny Stilou, Chief Financial Officer.
Following the above grant of warrants, the number of outstanding warrants equal
26,696,502, or 5.9% of the Company's current share capital, compared to 10% of
share capital prior to LCP's recent capital increase.
By application of the Black-Scholes formula, the market value of the warrant
program can be calculated as DKK 0.56 per warrant assuming an exercise price of
DKK 1.23, equal to the closing price of the Company's share at the NASDAQ OMX
Copenhagen A/S on December 15, 2010, an interest rate of 2.24% and a volatility
of the Company's shares of 54%.
The volatility of LCP's share price is based on the development in the
Company's historical share price since LCP's Initial Public Offering in
November 2006.
For more information, please contact:
LifeCycle Pharma A/S
William J. Polvino, President and CEO Johnny Stilou, CFO
Mobile: +1 917 647 9107 Mobile: +45
20 55 38 52
Email: WJP@lcpharma.com Email:
JST@lcpharma.com
Forward-looking statement disclaimer
This announcement contains certain forward-looking statements, including
statements about the Company's business and its shares. Such forward-looking
statements are based on data, assumptions and estimates that the Company
considers to be reasonable. They are subject to numerous risks and
uncertainties, including matters not yet known to the Company or not currently
considered material by the Company, and there can be no assurance that
anticipated events will occur or that the objectives set out will actually be
achieved. Important factors that could cause actual results to differ
materially from the results anticipated in forward-looking statements include,
among others, market conditions and the price of the Company's shares,
completion of and the actual outcome of the Company's ongoing Phase III
clinical studies of LCP-Tacro(TM), as well as changes in pharmaceutical
industry regulation and, in particular, regulatory approval of pharmaceutical
drugs, as well as the other risk factors the Company has included in its public
disclosures.
News Source: NASDAQ OMX
15.12.2010 Dissemination of a Corporate News, transmittedby DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: LifeCycle Pharma A/S
DK
Phone:
Fax:
E-mail:
Internet:
ISIN: DK0060048148
WKN:
End of Announcement DGAP News-Service
---------------------------------------------------------------------------Unternehmensinformation / Kurzprofil:
Datum: 15.12.2010 - 20:45 Uhr
Sprache: Deutsch
News-ID 316260
Anzahl Zeichen: 4757
Kontakt-Informationen:
Kategorie:
Wirtschaft (allg.)
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