Oslo, 10 June 2008 - PCI Biotech Holding ASA, the Norwegian drugdelivery company with a focus on cancer therapeutics, today announcedthe successful closing of its initial public offering in connectionwith the listing of the PCI Biotech Holding ASA shares on Oslo Axess(the Share Issue). The offering price was NOK 20 per share. Grossproceeds amounted to NOK 60 million (Approximately USD 11.9 million).
PCI Biotech Holding ASA shares are expected to begin trading on theOslo Axess (ticker: PCIB) on Wednesday 18 June 2008.A total of 3,000,000 new shares, each of par value NOK 3, have beensubscribed in the Share Issue. The shares are mainly subscribed forby underwriters of the Share Issue. The capital increase followingfrom the Share Issue is expected to be registered in the NorwegianRegister of Business Enterprises simultaneously with completion ofthe demerger of Photocure ASA with PCI Biotech Holding ASA as theacquiring company (the Demerger). The issued share capital of PCIBiotech Holding ASA at the time of listing on Oslo Axess will beNOK16,249,170, equaling 5,416,390 shares of NOK 3 par value.Fondsfinans ASA acted as Lead Manager for the Share Issue.Photcure ASA has subscribed 1,078,000 shares in the Share Issue.
Photocure ASA is represented at the board of PCI Biotech Holding ASA.Photocure ASA will upon completion of the Demerger pass thedisclosure threshold of 15 % in PCI Biotech Holding ASA and own1,078,000 shares in PCI Biotech Holding ASA, equaling 19.9 % of theshares and votes in the company.Gezina AS has subscribed 150,000 shares in the Share Issue. Gezina ASis represented at the board of Photocure ASA. Gezina AS will uponcompletion of the Demerger pass the disclosure threshold of 5 % inPCI Biotech Holding ASA and own 282,631 shares in PCI Biotech HoldingASA, equaling 5.22 % of the shares and votes in the company.Petrus Holding AS has subscribed 22,500 shares in the Shares Issue.Petrus Holding AS is controlled by Jon Hindar which is board memberin Photocure ASA.
Petrus Holding AS will upon completion of theDemerger own 22,500 shares in PCI Biotech Holding ASA.Per Walday has subscribed 10,000 shares in the Share Issue. PerWalday is CEO of PCI Biotech Holding ASA. Per Walday will uponcompletion of the Demerger own 10,000 shares in PCI Biotech HoldingASA.
Walday also holds an option to subscribe for 120,000 shares inthe company.Theresa Comiskey Olsen has subscribed 5,000 shares in the ShareIssue. Theresa Comiskey Olsen is board member in PCI Biotech HoldingASA from listing of the company on Oslo Axess. Theresa Comiskey Olsenwill upon completion of the Demerger own 5,000 shares in PCI BiotechHolding ASA.Close associates to Kjetil Tasken have subscribed 650 shares in theShare Issue.
Kjetil Tasken is board member in PCI Biotech Holding ASAfrom listing of the company on Oslo Axess. Kjetil Tasken and closeassociates will upon completion of the Demerger own 650 shares in PCIBiotech Holding ASA.Kjetil Hestdal, Chairman of the Board of PCI Biotech Holding ASA,said: “We are delighted to have successfully closed this offering inPCI Biotech Holding ASA."Per Walday CEO of PCI Biotech Holding ASA, said: “With our leadproject combining our patented compound Amphinex with the cytoxicagent Bleomycin about to enter Phase 1 trials, this is an excitingtime for PCI Biotech Holding ASA. We have already shown proof ofprinciple for our light directed delivery technology for a variety ofcompounds and this is the next step. The backing we have receivedfrom both existing and new investors gives us the resources to moveforward and progress our planned development pipeline.”
