Xspray Pharma Chariman divests 4,000 shares to cover Danish capital gains tax on unrealised gains on Xspray Pharma shares
Press release 2018-05-16
Xspray Pharma's Chairman, Michael Wolff Jensen's private, fully owned holding company MWJ Partners ApS has sold 4,000 shares in Xspray Pharma. The proceeds cover incurred Danish capital gains tax, which is charged on unrealized capital gains on MWJ Partners' holding of shares in Xspray Pharma. After the transaction, Michael Wolff Jensen holds 31,864 shares and 25,000 warrants via his company.
Xspray Pharma’s Chairman, Michael Wolff Jensen’s private, fully owned holding company MWJ Partners ApS has sold 4,000 shares in Xspray Pharma. The proceeds cover incurred Danish capital gains tax, which is charged on unrealized capital gains on MWJ Partners’ holding of shares in Xspray Pharma. After the transaction, Michael Wolff Jensen holds 31,864 shares and 25,000 warrants via his company.
“As the tax is charged on unrealized capital gains solely on the holding of Xspray Pharma shares in my private holding company, I have decided to cover the tax by divesting the same kind of assets as released the tax. The divestment constitutes a minor share of my total holding and my faith in the company and its future prospects remains firm,” commented Michael Wolff Jensen, Chairman of the Board of Xspray Pharma.
The transaction is within the allowance stated in the current lockup agreement.
For further information, please contact:
Per Andersson, CEO, Xspray Pharma AB (publ)
Mobile: +46 (0)706 88 23 48
About Xspray Pharma
Xspray Pharma AB (publ) is a product development company with several product candidates under clinical development. Xspray uses its innovative RightSize-technology in order to develop improved and generic versions of already marketed cancer drugs, primarily protein kinase inhibitors (PKI), for treating cancer. The segment is the second largest within the oncology department and the drug prices are very high. Through its innovative technology, Xspray can enter the market as first competitor to the original drugs available today without the hindrance of secondary patents. Xspray’s goal is to have up to seven products ready for launch on the American market, with a first product launched at the latest by 2021. The company has patents on production technology, equipment and the resulting products. The shares in Xspray Pharma (publ) are traded on Nasdaq First North Stockholm and Redeye is the Certified Adviser for the company.
Xspray Pharma AB (publ)
Gunnar Asplunds Allé 32
171 63 Solna