STOCKHOLM - 5 April 2017.
On 6 February 2017, Karolinska Development AB (publ) (“Karolinska Development”) announced that the Board of Directors of the company had resolved, subject to approval by the Extraordinary General Meeting, on a new issue of B shares to holders of the company’s convertible 2015/2019, by way of set-off as means of payment (the “Set-off Issue”). The Board of Directors’ resolution on the Set-off Issue was approved at the Extraordinary General Meeting held on 8 March 2017. The offered subscription price in the Set-off Issue was determined at SEK 6.17 per new B share and the maximum proceeds of the Set-off Issue, i.e., the total amount that could be offset in the Set-off Issue, amounted to SEK 451 million.
The subscription period for the Set-off Issue ended on 31 March 2017. Convertible holders accepted to offset SEK 67 million of the company’s convertible debt. After the Set-off Issue, the total nominal amount of the company’s remaining outstanding convertible, including accrued interest up until 31 December 2016, amounts to approximately SEK 384 million.
As a result of the Set-off Issue, 10,871,698 new B shares will be issued, resulting in an increase of the total number of shares from 53,464,998 to 64,336,696. Karolinska Development’s share capital will increase by SEK 5,435,849, from SEK 26,732,499 to SEK 32,168,348.
Karolinska Development retained Advokatfirman Lindahl as legal adviser in connection with the Set-off Issue. SEB Emissioner acted as issuing agent in connection with the Set-off Issue.
For further information, please contact:
Jim Van heusden, CEO, Karolinska Development AB
Phone: +46 72 858 32 09, e-mail: jim.van.heusden@karolinskadevelopment.com
Christian Tange, CFO, Karolinska Development AB
Phone: +46 73 712 14 30, e-mail: christian.tange@karolinskadevelopment.com
