Bavarian Nordic A/S offered 1,275,236 new shares with a nominal value of DKK 10
each at DKK 365 per share in the period from 10 March to 23 March 2007. The new
shares were offered with pre-emption rights for the company's existing
shareholders at a ratio of 1:5. The rights issue was underwritten by FIH
Erhvervsbank A/S and Nordea Bank Danmark A/S and accordingly fully subscribed.
Bavarian Nordic A/S receives gross proceeds of DKK 465 million.
A number of the existing shareholders, A.J. Aamund A/S, PKA A/S and
Fåmandsforeningen LD had given binding advance commitments for the exercise of
their entire subscription rights equivalent to gross proceeds of DKK 119.7
million. A. J. Aamund A/S has subscribed new shares for approximately DKK 80.8
million. A minor part of the offering (0.7%) was subscribed according to the
underwriting provided by FIH Erhvervsbank A/S and Nordea Bank Danmark A/S.
The new shares will carry rights and be eligible for dividends from the time of
the registration with the Danish Commerce and Companies Agency on 28 March 2007.
The new shares are expected to be listed on Copenhagen Stock Exchange on 29
March 2007. As soon as possible hereafter, the existing and the temporary
securities code will be merged. After registration of 1,275,236 new shares with
a nominal value of DKK 10 each, Bavarian Nordic's nominal share capital will be
DKK 76,514,160 equivalent to 7,651,416 shares, each with a nominal value of DKK
10.
Kvistgård, 28 March 2007
Asger Aamund
Chairman
Contacts: Peter Wulff, President & CEO
Telephone: +45 33 26 83 83
About Bavarian Nordic A/S:
Bavarian Nordic (CSE: BAVA) is a leading international biopharmaceutical company
developing and producing innovative vaccines to prevent and treat infectious
diseases and cancer. With operations in Denmark, Germany, the USA, and
Singapore, Bavarian Nordic employs over 200 people. Bavarian Nordic's patented
technology, MVA-BN®, is as been demonstrated in clinicial studies, one of the
world's safest, multivalent vaccine vectors for the development of vaccines
against various infectious diseases such as smallpox, HIV/AIDS, as well as
against breast and prostate cancer. Several MVA-BN®-based HIV and smallpox
vaccines are in clinical Phase I and Phase II trials. Bavarian Nordic has
ongoing development contracts with the US government to develop IMVAMUNE® as a
safe third-generation smallpox vaccine. Bavarian Nordic has supplied several
other governments with smallpox vaccines.
For more information please visit www.bavarian-nordic.com
“Safe Harbour" Statement Under the Private Securities Litigation Reform Act of
1995:
Except for the historical information contained herein, this release contains
"forward-looking statements" within the meaning of the Private Securities
Reform Act of 1995. No "forward-looking statement" can be guaranteed, and
actual results may differ materially from those projected. Bavarian Nordic
undertakes no obligation to publicly update any "forward-looking statement",
whether as a result of new information, future events, or otherwise. Additional
information regarding risks and uncertainties is set forth in the current
Annual Report, which we incorporate by reference.
Stockwise Resumé
Bavarian Nordic A/S completes fully subscribed rights issue
