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2016-11-21

Targovax ASA: Exercise of employee share options in Targovax ASA

Reference is made to stock exchange notice of 4 November 2016 regarding
increase of the share capital in Targovax ASA (the "Company") relating to
exercise of employee options and settlement of restricted stock units. As per
18 November 2016, 56,799 shares each with a par value of NOK 0.10 were
subscribed by employees holding vested options. No restricted stock unites
were settled and no shares were accordingly subscribed for by any holders of
restricted stock units.

The new share capital in the Company will accordingly be NOK 4,219,080. The
share capital increase will be registered in the Register of Business
Enterprises (NW: Foretaksregisteret) as soon as practically possible.

For further information please contact:
Øystein Soug
CEO
Phone: +47 906 56 525
Email:oystein.soug@targovax.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Targovax ASA via Globenewswire

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