OSLO, Norway, Dec. 11, 2019 /PRNewswire/ -- The Board of Directors of Nordic Nanovector ASA ("Nordic Nanovector" or the "Company") has on 10th December 2019 resolved to grant Dr Lars Nieba, Chief Technology Officer, 50,000 Performance Share Units ("PSUs") in connection with his appointment and under the Company's equity incentive plan that was approved at the Company's annual general meeting held on 25 April 2019 (the "AGM"). For further information about Dr Lars Nieba see the Company's stock exchange announcement on 20 August 2019. Following the allocation, Dr Nieba holds 50,000 PSUs, 0 options and 0 shares in Nordic Nanovector.
In accordance with the resolution at the AGM the PSUs are secured by a corresponding number of free-standing warrants. The sole purpose of the free-standing warrants is to ensure delivery of shares in the Company upon exercise of the PSUs. The free-standing warrants do not give the PSU-holder a right to subscribe for any additional shares in the Company.
The terms and conditions of the PSUs, which are part of the Company's long-term incentive plan for employees, are described on pages 24-25 in the Company's annual report for 2018.
For further information, please contact:
VP Investor Relations and Corporate Communications
About Nordic Nanovector:
Nordic Nanovector is committed to develop and deliver innovative therapies to patients to address major unmet medical needs and advance cancer care. The Company aspires to become a leader in the development of targeted therapies for haematological cancers.
Nordic Nanovector's lead clinical-stage candidate is Betalutin®, a novel CD37-targeting radioimmunotherapy designed to advance the treatment of non-Hodgkin's lymphoma (NHL). NHL is an indication with substantial unmet medical need, representing a growing market forecast to be worth nearly USD 29 billion by 2026. Nordic Nanovector intends to retain marketing rights and to actively participate in the commercialisation of Betalutin® in core markets.
Further information can be found at www.nordicnanovector.com.
This information is subject to a duty of disclosure pursuant to the Securities Trading Act, Sections 4-2 and 5-12 / Oslo Stock Exchange's Continuing Obligations, Section 3.2.
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SOURCE Nordic Nanovector