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12/06-2019 08:38:45: (TRVX) Targovax ASA: Settlement of restricted stock units and resolution to increase the share capital

Oslo, 12 June 2019: The board of directors of Targovax ASA (the "Company") has
resolved to increase the share capital of the Company following the completion
of a settlement period for vested restricted stock units ("RSUs"). The
settlement period commenced on 29 May 2019 at 10:00 hours (CET) and ended on 11
June 2019 at 10:00 hours (CET).

1. Settlement of RSUs

In total were 102,735 RSUs settled, giving the board members settling vested
RSUs the right to subscribe for in total 102,735 shares, each with a par value
of NOK 0.10.

Reference is made to the mandatory notifications of trade made by the following
primary insiders:

- On 31 May 2019, board member Bente-Lill Bjerkelund Romøren notified that she
had settled 5,464 RSUs;

- On 6 June 2019, board member Diane Mellett notified that she had settled
17,704 RSUs; and

- On 6 June 2019, board member Eva-Lotta Allan notified that she had settled
51,368 RSUs.

In addition has board member Robert Burns (the "Primary Insider") settled 28,199
RSUs giving him the right to subscribe for an equal number of shares in the
Company at a subscription price of NOK 0.10 per share. The Primary Insider has
transferred his right to the shares to a third party to sell the corresponding
amount of shares in the market in order to cover the Primary Insider's tax cash
impact from the RSU settlement. Further information regarding the shares sold by
the third party to cover the tax impact of the Primary Insider and the Primary
Insiders total holding of shares following the settlement will be published in a
separate stock exchange notice as soon as the details are final.

2. Resolutions to increase the share capital in Targovax ASA

The Company's board of directors has, in accordance with the authorisations
granted by the general meeting on 30 April 2019, resolved to increase the
Company's share capital with NOK 10,273.50 by issuance of 102,735 new shares,
each with a nominal value of NOK 0.10 in order to facilitate the settlement of

The new share capital in the Company will accordingly be NOK 6,338,361.30
divided into 63 383 613 shares, each with a nominal value of NOK 0.10. The share
capital increase will be registered with the Norwegian Register of Business
Enterprises (Nw.: Foretaksregisteret) as soon as practically possible.

For further information, please contact:

Torbjørn Furuseth, CFO
Phone: + 47 932 11 101

Ekstern link:

Nyheten er levert av OBI.