The issue grants current shareholders preferential rights to subscribe for one new share for each six existing shares already held at a subscription price of 30 SEK per share.
The new share issue comprises 5,623,190 shares, although the precise number of shares may be greater depending on possible conversion of debentures outstanding (see below).
MGA Holding AB, with 28.9 percent of the shares, and Nordstjernan AB, with 8.0 percent of the shares, have committed to subscribe for the full amount of shares corresponding to their preferential rights. In addition, Nordstjernan AB guarantees to fully subscribe for any additional shares for which current shareholders choose not to subscribe.
The purpose of the share issue is to inject additional capital for the continued development of the company's clinical projects.
Existing liquidity and the new share issue now decided on, combined with revenues from existing and anticipated collaboration agreements are expected to finance operations in accordance with current plans up until 2009.
Schedule
|
May 26,
2005 |
Final date for submission of conversion requests for outstanding convertible debentures in order that shares obtained through conversion shall convey subscription rights. (Conversion in accordance with requests received will be executed on June 2 at latest.) If conversion requests have not been received within the stated period, due recalculation of the applicable conversion rate will be implemented. |
|
June 7 |
Final date for trading including entitlement to subscription rights |
|
June 8 |
First date for trading excluding entitlement to subscription rights |
|
June 10 |
Record day for receipt of subscription rights |
|
June 14 |
Publication of prospectus |
|
June 17 |
Subscription period commences |
|
June 17-28 |
Trading in subscription rights |
|
July 1 |
Subscription period ends |
The share issue is to be implemented with Avanza Fondkommission AB as transfer agent.
Lund, May 18, 2005
Active Biotech AB (publ)
Sven Andréasson
President & CEO
For further information, please contact:
Sven Andréasson, President and CEO, telephone: +46 46-19 20 49
Hans Kolam, CFO, telephone: +46 46-19 20 44
Cecilia Hofvander, Manager Corporate Communication, telephone: +46 46-19 11 22
Active Biotech AB is a biotechnology company focusing on research and development of pharmaceuticals. Active Biotech has a strong R&D portfolio with pipeline products focused on autoimmune/inflammatory diseases and cancer. Most advanced projects are laquinimod, an orally administered small molecule with unique immunomodulatory properties for the treatment of multiple sclerosis, as well as ANYARA for use in cancer immunotherapy with the primary indication non-small cell lung cancer. Further key projects in clinical development comprise the three orally administered compounds TASQ for prostate cancer 57-57 for SLE and RhuDex® for RA.
Active Biotech AB
Box 724, SE-220 07 Lund
Tel: +46 46-19 20 00
Fax: +46 46-19 20 50
www.activebiotech.com