DIJON, France--(BUSINESS WIRE)--Regulatory News:
ONCODESIGN (Paris:ALONC) (ALONC – FR0011766229), a biopharmaceutical group specialized in precision medicine, is celebrating its 25th anniversary and announcing the launch of a new employee share ownership initiative. Carrying on from the capital increase subscribed for by the Executive Committee members in September, this transaction aims to foster engagement among the organization’s entire staff.
Establishment of the Oncodesign corporate mutual fund to support the PEE corporate savings plan
At its meeting on December 10, 2020, the Board of Directors, using the powers delegated by the Combined Shareholders’ Meeting of June 25, 2020 (15th resolution), decided on the main characteristics of the employee share ownership plan.
To mark the Group’s 25th anniversary, every Oncodesign employee will be allotted bonus shares.
The conditions of attribution are:
- One year’s continuous service
- Presence on the payroll at the date of allotment and one-year holding requirement
These shares will be placed in the corporate mutual fund Oncodesign created within the framework of the PEE Oncodesign.
Special program for Oncodesign’s 20 key employees
The Board of Directors also decided to set up a share purchase plan alongside the bonus share allotment and stock options as part of the introduction within the Company of a long-term loyalty plan for 20 employees identified as key to the success of the 2020-2025 business plan. The Board of Directors made use of the powers delegated by the Combined Shareholders’ Meeting of June 20, 2019 (10th resolution) and by the Combined Shareholders' Meeting of June 25, 2020 (16th and 17th resolutions) to grant bonus shares and stock options. The Oncodesign share purchase plan covers a maximum amount of €150,000 in share buybacks on the market. The subscription price for the shares has been set at €10.65.
The qualifying conditions are:
- 1 bonus share to be allotted for every 2 shares subscribed for under the aforementioned employee share ownership plan, including a two-year holding period effective from the acquisition date, without any performance conditions.
- 1 stock option allotted for every share subscribed for under the aforementioned share ownership plan with the following principal characteristics:
- Exercise price set at the allotment date
- Internal conditions of exercise, that is a requirement of presence on the payroll and conditions assessed on the basis of achievement of various objectives set in connection with the Company’s business plan for the period to 2025, and conditions of exercise linked to share price performance.
Philippe GENNE, Chairman and Chief Executive Officer of Oncodesign, commented: “Giving all employees a stake in the organization’s share capital was one of our objectives this year, and we have adapted a three-stage approach—a capital increase reserved for Executive Committee members in September, the share ownership plan for Oncodesign’s top 20 key employees in December, and the establishment of a FCPE corporate mutual fund supporting our PEE corporate savings plan for all our employees in the first quarter of 2021. We have set ourselves ambitious development objectives for 2023, and we will equip ourselves to meet them. This employee share ownership plan is one of the measures we are taking to foster the engagement of all our teams and to demonstrate our trust in them. In the context of unprecedented global public health crisis, which is having a strong impact on the mobility of our Business Development teams and the delay in decision-making by our customers and our pharmaceutical partners, our strategic programs are still very much on track, as are our goals for the development of the Group. Giving Oncodesign’s employees a greater share in the Group’s performance is more than ever essential for the achievement of our objectives. »
Summary of the 2020 employee share ownership plan
Assuming achievement of the conditions for the allotment of bonus shares and stock options applicable under the plans reserved for the Executive Committee and the 20 key employees, plus the establishment of the FCPE corporate mutual fund, the entire share employee share ownership plan could represent a 1.2% holding in Oncodesign’s share capital.
Next financial report: Full-year 2020 revenue on January 28, 2021 (after market close)
About ONCODESIGN: www.oncodesign.com
Founded 25 years ago by Dr. Philippe Genne, the Company’s CEO and Chairman, Oncodesign is a biopharmaceutical company dedicated to precision medicine. With its unique experience acquired by working with more than 800 clients, including the world’s largest pharmaceutical companies, along with its comprehensive technological platform combining state-of-the-art medicinal chemistry, pharmacology, regulated bioanalysis, medical imaging and Artificial Intelligence, Oncodesign is able to predict and identify, at a very early stage, each molecule's therapeutic usefulness and potential to become an effective drug. Applied to kinase inhibitors, which represent a market estimated at over $65 billion by 2027 and accounting for almost 25% of the pharmaceutical industry’s R&D expenditure, Oncodesign’s technology has already enabled the targeting of several promising molecules with substantial therapeutic potential, in oncology and elsewhere, along with partnerships with pharmaceutical groups such as Servier. Oncodesign is based in Dijon, France, in the heart of the town’s university and hospital hub, and within the Paris-Saclay cluster. Oncodesign has 233 employees and subsidiaries in Canada and the USA.
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