Parnell Management Adopts 10b5-1 Trading Plans
20 December 2014 - 07:00AM
Parnell Pharmaceuticals Holdings Ltd (Nasdaq:PARN), a fully
integrated pharmaceutical company focused on developing,
manufacturing and commercializing innovative animal health
solutions, reported today that Robert Joseph, President and Chief
Executive Offer, and Brad McCarthy, Chief Financial Officer, have
each adopted a prearranged trading plan effective December 15, 2014
in accordance with Rule 10b5-1 of the Securities Exchange Act of
1934 and Parnell policy. The 10b5-1 plans call for the personal
purchase of shares of company stock by Mr. Joseph and Mr. McCarthy
in market transactions which commenced on December 17, 2014.
"I believe strongly in Parnell's prospects for continued growth
and success, as the company continues to advance our diversified
animal health product pipeline and expand our commercial activities
in the U.S. and worldwide," said Mr. Joseph. "This is not a
Parnell-sponsored stock repurchase, it is personal purchases of
PARN stock by Brad and I based on our confidence in Parnell. We
have adopted the 10b5-1 plans to ensure the highest level of
integrity in our trading."
Rule 10b5-1 permits officers and directors of public companies
to adopt written plans for buying or selling securities in a
non-discretionary, prescheduled manner when they are not in
possession of material nonpublic information in order to gradually
diversify their investment portfolio, to minimize the market effect
of stock purchases or sales and to avoid concerns about initiating
stock transactions while in possession of material nonpublic
information.
About Parnell
Parnell (Nasdaq:PARN) is a fully integrated pharmaceutical
company focused on developing, manufacturing and commercializing
innovative animal health solutions. Parnell currently markets five
products for companion animals and production animals in 14
countries and augments its pharmaceutical products with proprietary
software platforms - iKAM and mySYNCH. These innovative technology
solutions are designed to enhance the quality of life or
performance of animals, while driving customers' operational
efficiency and profitability. Parnell believes its value-added
solutions help establish them as a business partner with customers
rather than only as a commodity provider, differentiating them from
competitors.
For more information on Parnell and its products, please visit
www.parnell.com.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements and
information within the meaning of the U.S. Private Securities
Reform Act of 1995. Words such as "may," "anticipate," "estimate,"
"expects," "projects," "intends," "plans," "develops," "believes,"
and words and terms of similar substance used in connection with
any discussion of future operating or financial performance
identify forward-looking statements. Forward-looking statements
represent management's present judgment regarding future events and
are subject to a number of risk and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements. These risks include, but are not
limited to, risks and uncertainties regarding Parnell's research
and development activities, its ability to conduct clinical trials
of product candidates and the results of such trials, as well as
risks and uncertainties relating to litigation, government
regulation, economic conditions, markets, products, competition,
intellectual property, services and prices, key employees, future
capital needs, dependence on third parties, and other factors,
including those described in Parnell's Annual Report on Form 20-F
filed with the Securities and Exchange Commission, or SEC, on
September 15, 2014, along with our other reports filed with the
SEC. In light of these assumptions, risks, and uncertainties, the
results and events discussed in the forward-looking statements
contained in this press release might not occur. Investors are
cautioned not to place undue reliance on the forward-looking
statements, which speak only as of the date of this press release.
Parnell is under no obligation, and expressly disclaims any
obligation, to update or alter any forward-looking statements,
whether as a result of new information, future events, or
otherwise.
CONTACT: Parnell Pharmaceuticals Holdings
Brad McCarthy, 913-274-2100
brad.mccarthy@parnell.com
BCC Partners
Karen Bergman, 650-575-1509
kbergman@bccpartners.com
Susan Pietropaolo, 845-638-6290
spietropaolo@bccpartners.com
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