Zealand Pharma Increases its Share Capital as a Consequence of Exercise of Employee Warrants
Company announcement – No. 22 / 2023
Zealand Pharma Increases its Share Capital as a Consequence of Exercise of Employee Warrants
Copenhagen, Denmark, May 23, 2023 – Zealand Pharma A/S (“Zealand”) (NASDAQ: ZEAL) (CVR-no. 20 04 50 78), a Copenhagen-based biotechnology company focused on the discovery and development of innovative peptide-based medicines, has increased its share capital by a nominal amount of DKK 23,491 divided into 23,491 new shares with a nominal value of DKK 1 each. The increase is a consequence of the exercise of warrants granted under several of Zealand Pharma's employee warrant programs.
Employee warrant programs are part of Zealand Pharma’s incentive scheme, and each warrant gives the owner the right to subscribe for one new Zealand Pharma share at a prespecified price, the exercise price, in specific predefined time periods before expiration. For a more detailed description of Zealand Pharma’s warrant programs, see the company’s Articles of Association, which are available on the website: www.zealandpharma.com.
The exercise price was DKK 127.00 per share for 15,091 of the new shares and DKK 224.40 per share for 8,400 of the new shares. The total proceeds to Zealand from the capital increase amount to DKK 3,801,517.
The new shares give rights to dividend and other rights from the time of the warrant holder's exercise notice. Each new share carries one vote at Zealand Pharma’s general meetings. Zealand Pharma has only one class of shares.
The new shares will be listed on Nasdaq Copenhagen after registration of the capital increase with the Danish Business Authority. Following registration of the new shares, the share capital of Zealand Pharma will be nominal DKK 58,605,496 divided into 58,605,496 shares with a nominal value of DKK 1 each.
A full copy of the amended Articles of Association can be found at https://www.zealandpharma.com once registered with the Danish Business Authority.
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About Zealand Pharma A/S
Zealand Pharma A/S (Nasdaq: ZEAL) ("Zealand") is a biotechnology company focused on the discovery and development of peptide-based medicines. More than 10 drug candidates invented by Zealand have advanced into clinical development, of which two have reached the market and three candidates are in late-stage development. The company has development and partnerships with a number of blue-chip pharma companies as well as commercial partnerships for its marketed products.
Zealand was founded in 1998 and is headquartered in Copenhagen, Denmark, with a presence in the U.S. that includes Boston. For more information about Zealand’s business and activities, please visit www.zealandpharma.com.
The above information contains forward-looking statements that provide Zealand Pharma’s expectations or forecasts of future events. Such forward-looking statements are subject to risks, uncertainties and inaccurate assumptions, which may cause actual results to differ materially from expectations set forth herein and may cause any or all of such forward-looking statements to be incorrect. If any or all of such forward-looking statements prove to be incorrect, our actual results could differ materially and adversely from those anticipated or implied by such statements. All such forward-looking statements speak only as of the date of this release and are based on information available to Zealand Pharma as of the date of this release. Except as required by law, the Company assumes no obligation to update these forward-looking statements publicly.
| Anna Krassowska, PhD|
Vice President, Investor Relations & Corporate Communications
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