| Pharma Equity Group announces issuance of new shares in a direct issue Inside information 4 October 2024 Company Announcement no. 25 | |
| 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: | |
| 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 | |
| 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. |
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