Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

Immuron Ltd Capital/Financing Update 2015

Aug 5, 2015

35121_rns_2015-08-05_15ce9c90-a53c-4d47-ab9a-209505a9eb61.pdf

Capital/Financing Update

Open in viewer

Opens in your device viewer

==> picture [192 x 54] intentionally omitted <==

Proposed Issue of Options to Directors

6 August 2015, Melbourne, Australia: The Board of Immuron Limited today wishes to announce that they have resolved to issue a total collective pool of 6 million unlisted options exercisable at not less $0.35 per option exercisable within 4 years from the date of their issuance, to the Directors’ of the Company, subject to shareholder approval.

These unlisted options are to be issued to the Directors in lieu of additional cash remuneration in recognition of the additional services which each director has performed which have been deemed far in excess of those services usual for a Non-Executive Director of a company with Immuron’s positioning, together with additional services that will be required to be exerted over the coming 12 - 24 months.

Immuron Chairman Dr Roger Aston will receive a total of 3M options, 2M of which will vest following a continuous period of 12 months of service (Aug 2016), with the further 1M unlisted options to vest after a proceeding 12 months of service (Aug 2017), whilst for each of the other directors, their 1M options will vest following 12 months of continuous service (Aug 2016) respectively.

The issuance of the unlisted options will be tabled at the Company’s next shareholders meeting.

The Board believes that the proposed issuance of unlisted options provides a cost effective incentive-based form of remuneration for the Directors which aligns their interests and remuneration to the achievement of operational milestones, share price appreciation and improved overall shareholder value.

Contacts:

Dr Roger Aston Amanda Loh Non-Executive Chairman Buchan Consulting +61 (0) 402 762 204 +61 (0)3 9866 4722

ABOUT IMMURON

Immuron Ltd (ASX:IMC) is a Microbiom company focused on developing and commercialising oral immunotherapeutics for the treatment of a many gut mediated diseases. Immuron has a unique and safe technology platform that enables a shorter development therapeutic cycle. The company currently markets Travelan® for the prevention of travellers’ diarrhoea, its lead product candidate IMM-124E is in Phase 2 clinical trials for NASH and ASH, and it has a preclinical immunotherapy pipeline targeting immune-related diseases with unmet needs.

Immuron’s main scientific alliances are with Hadassah Medical Center (Israel), Monash University (Australia) and the Commonwealth Scientific and Industrial Research Organisation (CSIRO) (Australia).

Suite 1, 1233 High Street Armadale, Victoria AUSTRALIA 3143

www.immuron.com ABN: 80 063 114 045

Phone: + 61 (0)3 9824 5254 Facsimile: + 61 (0)3 9822 7735