STOCKHOLM, Sweden--(BUSINESS WIRE)--Regulatory News: At the Extraordinary General Meeting of shareholders of Recipharm AB (publ) (the ”Company”), held on Thursday, 11 September 2014, the following resolutions were adopted:
Resolution to authorise the Board of Directors to resolve on the issue of convertible bonds On 18 August 2014, Recipharm AB entered into a share purchase agreement with the shareholders of Corvette Group S.p.A. and LIO Immobiliare S.r.l. whereby Recipharm is acquiring all shares in these companies at an estimated purchase price of EUR 100 million. The purchase price will be paid for by 50 per cent in cash and 50 per cent in the form of convertible bonds entitling the holders to convert the bonds into Class B shares of Recipharm. The conversion price is SEK 91.10 at a fixed exchange rate SEK/EUR of 9.168. The bonds carry no interest and are due one year from the closing date, which is expected to take place around 1 October 2014. Based on the estimated purchase price and assuming full conversion, the new shares would represent close to 12 per cent of the share capital and approximately 3.2 per cent of the votes.
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