Xbrane Biopharma AB (publ) has launched a long-term share-savings program that applies to all employees in both Sweden and in Italy. The aim of the programme is to create good conditions for retaining and recruiting competent staff and through partnerships to promote and to stimulate a continued company loyalty, which benefits both shareholders ‘and employees’ interests.
The program runs between 2017-2019 and is designed as a global share matching plan where the employees ‘ participation is based on investing up to sek 150 000 in Xbrane shares on the open market, the so-called savings shares, by no later than February 2018. At the end of the programme offered to participants for each savings share, to acquire one (1) matching share and one (1) possible performance, based on whether bolagsmålen been achieved, to the nominal value. All employees are offered to participate in the program and with the same conditions. The decision to issue new shares under this program in accordance with chapter 16 of the Swedish companies act to be taken at the annual general meeting 2020 the number of shareholders not representing less than nine-tenths (9/10) of both the votes and share capital represented at the meeting. In the case that the annual general meeting does not approve a proposed new issue of shares, the board may decide to compensate the participants in the program through a cash payment instead.
Assuming full participation based on the closing price per 2017-06-09 and the full allocation of performance shares is the maximum dilution 3.05%.
CEO Martin Åmark, commented: “In a research-intensive company Xbrane is to our employees, the Company absolutely the top resource. With this program, we are creating an attractive opportunity for the employees to become shareholders in the Xbrane and long-term incentives to achieve our goals.”
Information on the Programme will shortly be available to read on the Company’s website.
Xbrane Biopharma is a biotechnology company in the commercial phase, which develops and manufactures biosimilar medicinal products and the long-acting injectables. Xbrane has world-leading expertise in the development of long acting injectables, and a patented proteinproduktionsplattform for the development of biosimilar medicinal products. Xbranes head office is in Stockholm and the company has research and development facilities take in Sweden and Italy. Xbrane is listed on Nasdaq First North since 3 February 2016 under the ticker symbol XBRANE and Avanza Bank AB is Xbranes certified adviser. For more information please visit www.xbrane.com.
For further information, please contact:
M: +46 (0) 763-093 777
CFO/Head of Investor Relations
M: +46 (0) 708-278 636
The information in this press release is such that Xbrane Biopharma AB (publ) is obliged to publish under the EU marknadsmissbruksförordning (EU) no 596/2014. The information was submitted, by the above contact person in the government, for publication on 14 June 2017, there is a 8:00.
Press release – Xbrane launches langsiktigt share savings