PharmaMar will give almost 700,000 euros in shares to the workers

Pharmaceutical multinational PharmaMaroriginally from Galicia, has informed the National Commission for the Securities Market (CNMV) of its intention to make effective the registration of almost 700,000 euros which corresponds to the value of the title in total 15,634 sharesaccording to the note sent, which would correspond to 0.0852% of the group’s share capital. The delivery of the shares will be made in the “following dates”, after the opening of the respective accounts for the users of the free delivery of PharmaMar’s own shares program. Established reference value of EUR 42.2623 per share, as approved at the regular general meeting of shareholders on June 29, 2022; and is set at the weighted average change of the rolling market on April 14, 2023.

However, free stock delivery is subject to a number of restrictions Conditions set up by the group: a system to block actions and resolve delivery conditions.

So the locking system will immobilize the shares for three years from the moment they are delivered (loyalty period), so they cannot be “alienated”, while after one year and six months some of them will be unlocked.

For its part, the resolutive condition of delivery of shares will be considered fulfilled in cases of voluntary resignation, dismissal or absence, except in special cases, provided that they occur before the expiration of the three-year loyalty period.

This condition will burden those shares that should be immobilized in those three years. In the event that the reason for the termination of the employment relationship is another, it will be considered that the period of loyalty has ended.