Karolinska Development announces outcome of the Extraordinary General Meeting
STOCKHOLM - March 8, 2017. At the Extraordinary General Meeting of Karolinska Development AB held March 8, 2017, the following resolutions were passed:
Approval of the Board of Directors' resolution on a directed new issue of shares to the convertible holders (set-off issue): It was resolved to approve the Board of Directors' resolution of 6 February 2017 on a directed new issue of B-shares to the company's convertible holders, with payment by set-off.
The subscription price shall be SEK 6.17 for each B-share, which corresponds to the volume weighted average share price (VWAP), of the company's share, 90 trading days ending two trading days prior to announcement of the board's resolution to convene the Extraordinary Shareholder Meeting.
Not more than 73,133,313 new B-shares will be issued, corresponding to an increase of the share capital of not more than SEK 36,566,656.50. Assuming that all convertible holders have the possibility
to accept the offer, it will result in a set-off of in total SEK 451 million of the outstanding convertible debt.
Notification of subscription and payment by way of set-off shall be made during the period 20 March 2017 to 31 March 2017.
Amendments of the Articles of Association: To enable the set-off issue it was resolved to amend the Articles of Association, whereby the limits of the share capital is amended to minimum SEK 25,000,000 and maximum SEK 100,000,000, and that the limits for the number of shares is amended to minimum 50,000,000 and maximum 200,000,000.
For further information, please contact:
Jim Van heusden, CEO, Karolinska Development AB
Phone: +46 72 858 32 09, e-mail: email@example.com
Christian Tange, CFO, Karolinska Development AB
Phone: +46 73 712 14 30, e-mail: firstname.lastname@example.org
TO THE EDITORS
About Karolinska Development AB
Karolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences investment company. The company focuses on identifying breakthrough medical innovations in the Nordic region that are developed by entrepreneurs and leadership teams. The Company invests in the creation and growth of companies that advance these assets into commercial products that are designed to make a difference to patients' lives while providing an attractive return on investment to shareholders.
Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The Company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success.
Karolinska Development has established a portfolio of nine companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases.
The Company is led by an entrepreneurial team of investment professionals with a proven track record as company builders and with access to a strong global network.
For more information, please visit www.karolinskadevelopment.com
This information is information that Karolinska Development AB (publ) (Nasdaq Stockholm: KDEV) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of Jim Van heusden, at 6.30 pm CET on 8 March 2017.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Karolinska Development AB (publ) via Globenewswire
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