Release details

2016-01-28 07:59 CET
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Primary insider trades and mandatory notification of trade by the CEO




Primary insider trades and mandatory notification of trade by the CEO

(Oslo, Norway, 28 January 2016) Reference is made to the announcement on 27 January 2016 (the Completion Announcement") regarding conditional approval of a private placement (the "Private Placement") in Bionor Pharma ASA (the "Company"), through issuance of 63,380,282 new shares with a par value of NOK 0.25 at a subscription price of NOK 0.71 per share (the "Shares") in addition to allocation of one warrant entitling to subscription of one new share with a par value of NOK 0.25 at a subscription price of NOK 0.71 per share (as further described in the Completion Announcement in total 63,380,282 warrants (the "Warrants").

Certain primary insiders of the Company subscribed for and were allocated Shares and Warrants in the conditional Private Placement on the terms of the Private Placement. Details of primary insiders allocation and total holding of shares and options following completion of the Private Placement:

Name Position Allocated shares Total shares Total Warrants Total options
Russell G. Greig Chairman 92,400 162,830 92,400  
Øystein Soug through Abakus AS1 Vice-Chairman 105,600 248,020 105,600  
Thomas Hofstaetter Board Member 70,423 105,638 70,423  
Jerome B. Zeldis Board Member 231,100 498,315 231,100  
Bernd Seizinger Board Member 89,700 124,915 89,700  
Benedicte Fossum through Mittas AS2 Board Member 158,400 229,978 158,400  
David Solomon CEO 9,173,838 9,173,838 9,173,838 2,500,000
Jens Krøis CFO 105,600 105,600 105,600  
Kamilla Rolsted Chief Strategy and Business Officer 132,000 132,000 132,000 500,000
Barbara Ruskin General Counsel
Chief Patent Officer
92,900 92,900 92,900 500,000
Søren Keller Chief Operating Officer 70,423 70,423 70,423 500,000
Cecilie Grue through Grue Invest AS3 Legal Director 105,600 105,600 105,600  
1Abakus AS is controlled by Øystein Soug
Mittas AS is controlled by Benedicte Fossum
Grue Invest AS controlled by Cecilie Grue

Further information
David Horn Solomon, President and CEO, +45 22 20 63 00,
Jens Krøis, CFO, +45 20 80 16 68,
Jørgen Fischer Ravn, VP Investor Relations & Communications, +45 20 30 39 03,

About Bionor
Bionor Pharma is a Norwegian biopharmaceutical company focused on advancing its proprietary therapeutic vaccine Vacc-4x in combination with other medicines toward a functional HIV cure. The company believes it has first mover potential based on clinical results to date and early adoption of now recognized clinical strategy. In December 2015, Bionor announced that the HIV 'Shock & Kill' trial REDUC with Vacc-4x and romidepsin successfully met its primary endpoint by significantly reducing latent HIV reservoir and further demonstrated control of viral load. Bionor is currently planning BIOSKILL, a proof-of-concept Phase II trial, which may lead to a major value inflection point and partnering opportunities. Bionor currently retains full ownership rights to Vacc-4x, i.e., the upside potential from partnering or licensing remains with the company. Bionor is based in Oslo, Norway, and also has offices in Copenhagen, Denmark and New York, USA. Bionor is listed on Oslo Børs (OSE:BIONOR). More information about Bionor is available at

Important information:
The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia).

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States. The issue, exercise, purchase or sale of subscription rights and the subscription or purchase of shares in the Company are subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Manager assumes any responsibility in the event there is a violation by any person of such restrictions.

The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. The Manager is acting for the Company and no one else in connection with the Private Placement and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the Private Placement and/or any other matter referred to in this release.