Pharma Equity Group announces issuance of new shares in a direct issue
October 04 2024 - 6:52AM
UK Regulatory
Pharma Equity Group announces issuance of new shares in a direct
issue
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Pharma Equity Group announces issuance of new shares in a
direct issue
Inside information
4 October 2024
Company Announcement no. 25 |
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Pharma Equity Group A/S (the "Company") announces the
resolution to issue new shares in a directed issue with expected
gross cash proceeds of approximately DKK 51,148,194,
hereunder conversion of convertible debt of approximately
DKK 12,648,826. Through the directed issue, the
Company achieves a strengthened and more robust capital structure,
including enhanced capital base.
Today, the Company's board of directors has resolved to issue
204,592,776 new shares (corresponding to nominally DKK
20,459,277.6) at a subscription price of DKK 0.25 per share
corresponding to gross proceeds of approximately DKK 51,148,194,
hereunder conversion of convertible debt of approximately DKK
12,648,826.
The directed issue is fully subscribed.
The subscription price of DKK 0.25 per share corresponds to a
premium approximately 20% above the market price relative to the
closing price on 3 October 2024.
The new shares are subscribed by a limited group of new investors
and existing shareholders.
Consequently, the Company's board of directors has today exercised
its authorisation to increase the share capital without pre-emption
rights for the Company's existing shareholders according to article
4.1B of the Company's articles of association and made the
necessary amendments to the articles of association
accordingly.
Registration of capital increase
Subject to customary settlement, the new shares issued in the
directed issue will be registered with the Danish Business
Authority expectedly on 11 October 2024, whereby the share capital
will increase by 204,592,776 shares to 1,227,556,659 shares each
with a nominal value of DKK 0.1. The Company will have a registered
share capital of nominally DKK 122,755,665.9 upon registration of
the capital increase with the Danish Business Authority.
The new shares are expected to be admitted to trading on Nasdaq
Copenhagen on 16 October 2024 under the ISIN code of the Company's
existing shares (DK0061155009).
The new shares represent just below 20% of the Company's registered
share capital before the capital increase, and the directed issue
is made pursuant to and in compliance with the applicable
exemptions from the obligation to publish a prospectus according to
the Prospectus Regulation (EU) 2017/1129. This means that the
Company’s board of directors has utilized the rules on subscription
without a prospectus to the maximum extent, which the board of
directors considers highly satisfactory. The new shares are
subscribed at a price of approximately 19% above the market price
relative to the closing price on 3 October 2024.
The new shares will rank pari passu with and carry the same rights
as the existing shares of the Company, and no shareholder shall be
obligated to have its shares redeemed. The new shares will be
negotiable instruments, and the rights conferred by the new shares,
including voting and dividend rights, will apply from the date on
which the capital increase is registered with the Danish Business
Authority. The new shares are to be issued in the name of the
holder and registered in the name of the holder in the Company's
register of shareholders.
Expected timetable
Registration of the capital increase with the Danish Business
Authority is expected to take place no later than on 11 October
2024. Following the registration, the new shares are expected to be
admitted to trading on Nasdaq Copenhagen expectedly on 16 October
2024.
For further information, please contact:
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Thomas Kaas
Selsø, CEO of Pharma Equity Group A/S, phone: +45 4022 2114
Christian Vinding Thomsen, Chairman of the Board of Directors of
Pharma Equity Group A/S, phone: +45 2622 7222 |
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About Pharma Equity Group A/S
Pharma Equity Group, a listed company on the Nasdaq Copenhagen
stock exchange, is fully dedicated to advancing the medical
projects of its subsidiary, Reponex Pharmaceuticals A/S. With an
unwavering focus on healthcare, Pharma Equity Group's primary
objective is to bring significant value to Reponex Pharmaceuticals'
medical projects.
The company is committed to providing extensive support,
resources, and expertise to drive the development and success of
these projects. As a strategic partner, Pharma Equity Group works
closely with Reponex Pharmaceuticals, prioritizing the advancement
of innovative medical solutions and breakthrough therapies. Every
effort is currently directed towards ensuring the utmost success
and impact of Reponex Pharmaceuticals' medical projects, with an
unwavering dedication to improving global healthcare outcomes. Only
when the full potential of Reponex Pharmaceuticals has been
unfolded is the intention to explore opportunities to invest in
other companies. This approach ensures a strong commitment to the
current medical projects and their development, while – on the
longer term – remaining open to new strategic investments for
continuous growth. |
- Company Announcement no 25 - UK
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