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PCI Biotech: Exercise of employee share options, mandatory notification of trade and resolution to increase share capital

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Oslo (Norway), 2 September 2020 – Exercise of employee share options, mandatory notification of trade and resolution to increase the share capital in PCI Biotech Holding ASA (the “Company”).

1.   Options exercised and mandatory notification of trade on 2 September 2020
Participants in the Company's share option program have on 2 September 2020 exercised a total number of 60,500 share options, out of these 26,000 share options were exercised at a strike price of NOK 7.84 and 34,500 share options were exercised at a strike price of NOK 3.26, corresponding to a total number of 60,500 shares. All of the exercised share options were about to expire unless exercised.

Out of the total number of exercised share options, 54,500 share options are exercised by the following primary insiders:

Primary insider Per Walday (CEO) has on 2 September 2020 exercised a total number of 9,000 share options at a strike price of NOK 3.26. The share options were granted to Walday in November 2015 and now about to expire unless exercised. Subsequent to the exercise he has sold 4,600 shares in the market at an average price of NOK 45.6 per share in order to finance the cash and tax impact of the transaction. After the transaction Walday hold 72,700 shares and 155,000 share options in the Company.

Primary insider Ronny Skuggedal (CFO) has on 2 September 2020 exercised a total number of 20,000 share options at a strike price of NOK 7.84 and a total number of 6,000 share options at a strike price of NOK 3.26. The share options were granted to Skuggedal in April 2015 and November 2015 and now about to expire unless exercised. Subsequent to the exercise he has sold 14,000 shares in the market at an average price of NOK 45.6 per share in order to finance the cash and tax impact of the transaction. After the transaction Skuggedal hold 55,000 shares and 90,000 share options in the Company.

Primary insider Kristin Eivindvik (PD) has on 2 September 2020 exercised a total number of 6,000 share options at a strike price of NOK 7.84 and a total number of 7,500 share options at a strike price of NOK 3.26. The share options were granted to Eivindvik in April 2015 and November 2015 and now about to expire unless exercised. Subsequent to the exercise she has sold 7,100 shares in the market at an average price of NOK 45.6 per share in order to finance the cash and tax impact of the transaction. After the transaction Eivindvik hold 25,200 shares and 60,000 share options in the Company.

Primary insider Anders Høgset (CSO) has on 2 September 2020, as a participant in the Company’s share option program, exercised a total number of 6,000 share options at a strike price of NOK 3.26. The share options were granted to Høgset in November 2015 and now about to expire unless exercised. Subsequent to the exercise he has sold 4,500 shares in the market at an average price of NOK 45.6 per share. After the transaction Høgset hold 64,800 shares and 100,000 share options in the Company.

This announcement also represents a mandatory notification of trade, which is submitted by the Company on behalf of the primary insiders.

2.   Resolution to increase the share capital
Following the exercise of share options on 2 September 2020, the Company’s Board of Directors, pursuant to an authorisation granted by the Company's Annual General Meeting on 27 May 2020, have decided to increase the Company's share capital with NOK 181,500 by issuing 60,500 new shares, each share of par value NOK 3.00. Subsequent to the transaction, the Company's share capital will be NOK 111,979,170 divided into 37,326,390 shares, each with a nominal value of NOK 3.00 and each giving one vote at the Company’s general meeting. The capital increase will result in gross proceeds of NOK 316,310.

Contact information:
Per Walday, CEO

pw@pcibiotech.no

Mobile: +47 917 93 429

This information is subject to the disclosure requirements pursuant to section 4-12 and 5-12 of the Norwegian Securities Trading Act.

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