Xbrane Biopharma AB (publ) has launched a long-term share savings program for all employees in both Sweden and Italy. The purpose of the program is to create good conditions for retain and recruit competent staff and by promote and stimulate continued corporate loyalty, which benefits both shareholders and employees' interests.
The period for the program is 2017-2019 and it is designed as a share savings program where the employee's participation requires an investment in Xbrane shares, so called savings shares , up to a value of 150,000 SEK before end of February 2018. By the end of the program the participants are given the opportunity to purchase one (1) matching share and one (1) possible performance share , depending on achievement of company goals, for each savings share at nominal value. All employees are offered to participate in the program and on the same terms. In accordance with Swedish Companies Act Chapter 16, the decision to issue new shares for this program is subject to approval from Annual General Meeting 2020 by shareholders who do not represent less than nine tenths (9/10) of both votes and capital represented at the Annual General Meeting (AGM). In case the AGM does not approve issuance of new shares the Board can decide to compensate the participants in the program via a cash payment instead.
Assuming full participation, full allocation of performance shares and based on closing price per 2017-06-09, maximum dilution is 3.05%.
CEO Martin Åmark comments: "In a research-intensive company like Xbrane, our employees are the absolute most critical resource for the company. With this program we create an attractive opportunity for employees to become shareholders in Xbrane and long-term incentives to achieve our goals. "
Information about the Program will shortly be available on the Company's website.
Xbrane is a commercial phase Swedish biopharmaceutical company specialized in biosimilars and long acting injectables. Xbrane has world leading expertise in developing generics for long acting injectable drugs and proprietary high-yield protein expression technology for the development of biosimilars. Xbrane's headquarter is located in Stockholm and the company's in-house research and development facilities are in Sweden and Italy. Xbrane is listed at Nasdaq First North since February 3 rd , 2016 under the name XBRANE and Avanza Bank AB is Xbrane's certified adviser. For more information see www.xbrane.com .
For further information, please contact:
Chief Executive Officer
M: +46 (0) 763-093 777
CFO/IR, Xbrane Biopharma AB
M: +46 (0) 708-278 636
This information is information that Xbrane Biopharma AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 June 14 2017.