Insider management

Insider regulation and insider projects

In its insider management, Faron Pharmaceuticals Ltd abides e.g. by the EU Market Abuse Regulation ((EU) 596/2014, as amended), the Finnish Limited Liability Companies Act (624/2006, as amended), the Finnish Securities Markets Act (746/2012, as amended), the Finnish Penal Code (39/1889, as amended), guidelines for insiders by Nasdaq Helsinki Ltd, the rules and regulations of the First North Growth Market Finland marketplace, and the regulations and guidelines issued by the European Securities and Markets Authority and the FIN-FSA, as well as the UK Market Abuse Regulation and other applicable laws and regulations issued by the UK and London Stock Exchange (LSE), especially the AIM rules for Companies.  Faron’s Board of Directors has also approved an internal Share Dealing code.

Faron maintains insider lists of project-specific insiders. Project-specific insiders include persons who have access to inside information concerning the specified project and who work for the company under an employment contract or other agreement or otherwise have received access to inside information concerning a specified project.. 

In Faron, the members of Faron’s Board of Directors, CEO and members of the Management have been defined as managers in accordance with the EU Market Abuse Regulation (MAR). Managers and their closely associated persons are obliged to ask for a pre-approval for a transaction and to notify both Faron and the FIN-FSA of their transactions with Faron’s financial instruments. The transactions of Faron’s managers and their closely associated persons are disclosed in accordance with MAR.

Closed period

Faron’s managers are subject to a closed period of 30 calendar days prior to the publication of the half-year report and financial statements release. The company has set a corresponding closed period of 30 days also for persons who contribute to the preparation of the company’s financial reports. During the closed period, a person is prohibited from trading in Faron’s shares and other financial instruments.