The Board of Directors of Moberg Pharma AB has resolved to transfer the Company’s own shares to cover certain costs for incentive programs
STOCKHOLM, June 27th, 2019 – The Board of Directors of Moberg Pharma AB (publ) (“Moberg Pharma” or the “Company”) has resolved, pursuant to the authorization granted by the Annual General Meeting held on May 15th, 2019, to transfer not more than 45,000 of the Company’s ordinary shares on Nasdaq Stockholm. The purpose of the transfer is to cover certain costs, mainly social security costs, that may arise in relation to implemented incentive programs.
As previously disclosed, the Company has implemented share-based incentive programs for senior executives and other employees. The Company currently has four outstanding incentive programs, employee stock option plans for 2015, 2016, 2017 and a long-term incentive program for 2018 (LTI 2018) (the “Programs”). The Company’s recent divestment of its OTC-business has resulted in a requirement for an acceleration of the vesting period for all Programs, which the Board of Directors has resolved on. Such an acceleration entails that participants, to a certain extent, are allotted shares or employee stock options already during the current year and, thus, social security and other costs will arise. The Board of Directors has therefore resolved, on the basis of the authorization from the Annual General Meeting, to transfer the Company’s ordinary shares to cover costs which may arise as a result of this.
Transfer may commence on June 27th, 2019, and shall end no later than July 30th, 2019, and will be administrated by Aktieinvest FK AB, which, based on the trading order given by the Company to Aktieinvest FK AB, will take trading decisions independently of the Company with regard to the timing of the transfers.
Transfers may comprise a maximum of 45,000 ordinary shares on one or several occasions and shall be made on Nasdaq Stockholm in accordance with its Rule Book for Issuers. The transfers will be made at a price per share within the from time to time registered trading interval. Reporting will take place through the stock exchange in accordance with applicable rules.
The total number of shares in Moberg Pharma amounts to 18,364,605, of which 17,703,762 ordinary shares and 660,843 are shares of series B. At the time of this press release the Company holds 226,836 own ordinary shares.
For additional information, please contact:
Anna Ljung, CEO, Phone: +46 8 522 307 01 (SE), e-mail: anna.ljung@mobergpharma.se
About Moberg Pharma, www.mobergpharma.com
Moberg Pharma AB (publ) is a Swedish pharmaceutical company focused on commercializing proprietary innovations based on drug delivery of proven compounds. The company’s main asset, MOB-015, is a novel topical treatment for onychomycosis, for which phase 3 data in 800+ patients is expected in late 2019 in North America and the first half of 2020 in Europe. The pipeline also includes the late-stage asset BUPI for pain relief in oral mucositis. Clinical data generated for both assets indicate they have the potential to become market leaders in their respective niches. Moberg Pharma is headquartered in Stockholm and the company’s shares are listed on the Small Cap list of the NASDAQ OMX Nordic Exchange Stockholm (OMX: MOB).