AIM Rule 26
The following information is disclosed in accordance with Rule 26 of the AIM Rules for Companies.
Company Information
Faron (AIM: FARN, First North: FARON) is a global, clinical-stage biopharmaceutical company, focused on tackling cancers via novel immunotherapies. Its mission is to bring the promise of immunotherapy to a broader population by uncovering novel ways to control and harness the power of the immune system. The Company’s lead asset is bexmarilimab, a novel anti-Clever-1 humanized antibody, with the potential to remove immunosuppression of cancers through targeting myeloid cell function. Bexmarilimab is being investigated in a Phase I/II clinical trial as a potential therapy for patients with hematological cancers in combination with other standard treatments. Faron is based in Turku, Finland. Further information is available at www.faron.com.
Description of Business can be found here.
|
Name |
Faron Pharmaceuticals Oy |
|
Registration number |
2068285-4 |
|
Country of incorporation |
Finland |
|
Registered address |
Joukahaisenkatu 6 |
|
Main country of operation |
Finland |
Board of Directors
Tuomo Pätsi, Non-Executive Chairman
Dr. Markku Jalkanen, Chief Executive Officer & Founder
John Poulos, Non-Executive Director
Dr. Marie-Louise Fjällskog, Non-Executive Director
Christine Roth, Non-Executive Director
Brief biographical details for the Board of Directors can be found here.
(A) Audit Committee: Markku Jalkanen as chair and Marie-Louise Fjällskog and John Poulos as the other members;(B) Remuneration Committee: John Poulos as chair and Tuomo Pätsi and Christine Roth as the other members;(C) Business Development Committee: John Poulos as chair and Markku Jalkanen and Juho Jalkanen as the other members; and
(D) Nomination Committee: Tuomo Pätsi as chair and Chrisine Roth and Markku Jalkanen as the other members.
Information on Shares
The Company’s ordinary shares of no par value are only admitted to trading on the AIM market of the London Stock Exchange and on issuing Nasdaq First North Growth Market.
|
Date of Admission: AIM |
17 November 2015 |
|
Ticker: AIM |
FARN |
|
ISIN |
FI4000153309 |
|
Number of AIM securities in issue |
104,624,864 ordinary shares |
|
The percentage of AIM securities not in public hands (as defined by the AIM rules) |
18.58% |
|
Certain early pre-IPO investors* hold a significant amount of the Company's shares, with a total of |
33.28% |
|
Restrictions on the transferability of ordinary shares |
There are no restrictions on the transfer of the Company´s AIM Securities. |
|
Depositary issuing depositary interests |
Computershare Investor Services PLC |
* Members of the Jalkanen family, members of the Lind family, Marko Salmi, Timo Syrjälä, certain management members and A&B(HK) Company Limited
Significant Shareholders
The information presented in the below table is consistent with the Company's best knowledge as of November 30, 2024.
The Company has been notified of the following holdings of 3% or more of the issued share capital of the Company:
|
Name |
Number of shares |
% |
|
Timo Syrjälä* |
16,024,023 |
15.32 |
| Tom-Erik Lind | 6,074,078 |
5.81 |
|
Varma Mutual Pension Fund |
4,498,869 |
4.30 |
|
The European Investment Council Fund, EIC |
3,630,437 |
3,47 |
|
Fjarde AP Fonden (The Fourth Swedish National Pension Fund) |
3,490,405 |
3,34 |
|
A& B (HK) Company Limited |
3,559,893 |
3.40 |
| Markku Jalkanen** | 3,413,434 | 3.26 |
*Mr Syrjälä's total holding in the Company´s shares, which includes his indirect holding through Acme Investments SPF S.à.r.l., an entity which is wholly owned by Timo Syrjälä.
**Held by Markku Jalkanen and related party (November 30, 2024).
Major Shareholders
The information is consistent with the Company's best knowledge as of June 24, 2024.
Faron Pharmaceuticals Ltd.’s largest shareholders include Timo Syrjälä (direct and his indirect holding through Acme Investments SPF S.à.r.l, an entity which is wholly owned by Timo Syrjälä) with 15.32% of the total number of shares (16,024,023 of shares and voting rights), Tom-Erik Lind 5.81% of the total number of share (6,074,078 shares and voting rights). Their shareholdings are mainly nominee-registered and are thus not included in the list of major shareholders presented on the below list. Faron's total number of shares and voting rights is 104,624,864.
Share Price
Regulation of Takeover
The registered office of the Company is in Finland, a member state of the European Economic Area other than the United Kingdom and its shares are traded on AIM, which is not a regulated market for the purpose of the City Code on Takeovers and Mergers (the “UK Takeover Code”).
Accordingly, the Company is not subject to the UK Takeover Code. As the Company is neither subject to equivalent legislation in Finland the Company has voluntarily adopted certain provisions of the UK Takeover Code and these have been incorporated into its Articles of Association.
Articles of Association
The Company’s Articles of Association can be found below:
Articles of Association (English)
Articles of Association (Finnish)
Notifications as to changes in voting rights pursuant to the Company's Articles of Association may be made using the form TR1, which can be found here.
Rights of Shareholders
Shareholders should note that the rights of shareholders in a company incorporated in Finland may be different from the rights of shareholders in a UK incorporated company.
Board of Directors' responsibilities and corporate governance
Press releases
Results
Admission document
Circulars and similar publications sent to shareholders within the past 12 months
Advisers
Analyst Coverage
| Panmure Gordon | Julie Simmonds |
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| Peel Hunt | Miles Dixon |
| Redeye | Kevin Sule |
| Inderes | Antti Siltanen |
This section of the website was last updated to comply with AIM Rule 26 on March 26, 2023.