STOCKHOLM, Sweden, Dec. 18, 2002 (PRIMEZONE) -- An extraordinary meeting at Artimplant AB (Stockholm:ARTIb) on Tuesday approved the board's proposed rights issue of ten million new "B" shares at a price of SEK 3. The rights issue is aimed at both institutional investors and major existing owners of the company. At the same time the board was authorized, for the period until the next AGM, to make decisions on a new issue with a preferential right for all shareholders not exceeding 19,250,000 "B" shares at a subscription price of SEK 3, whereby holders of "A" or "B" shares may subscribe to new "B" shares. The special issue is fully subscribed and is bringing SEK 30 million into the company. It is estimated that the two issues will bring a total of SEK 45 million into the company.
The extraordinary meeting also decided to approve the board's proposed introduction of a staff option program aimed at all employees. The staff options will be utilizable during the periods 01.12.2005-31.03.2006 incl. and 01.12.2007-31.03.2008 incl. The subscription prices will be SEK 10 and SEK 20 respectively for the two series. The company has protected itself against future social-security expenses which may arise as a result of utilization of the staff options. In the event of full utilization the capital will be diluted by 3.4 percent and the votes by 2.9 percent.
Professor Sven Lindskog, who was nominated to be elected to the board of directors at the extraordinary general meeting, has for the time being declined board membership due to his role as a consultant in connection with the company's preparations for filing for FDA approval.
For additional information, please contact:
Tord Lendau, Chief Executive Officer phone +46 (0)708 369 403 Ulf Akerblom, Director Corporate Communications phone +46 (0)31 746 5600+46 (0)709 675-999 ulf.akerblom@artimplant.se
Website: www.artimplant.se
Artimplant
Artimplant focuses on solutions for problems within the area of reconstructive surgery. Artimplant is active in the research and development of biodegradable implants with the goal of recreating active lives. The material the Company has developed is based on a new technology that is opening new markets in the field of orthopedic surgery as well as other specialized fields where there are significant medical needs. After many years of working with development, Artimplant is now entering a marketing phase which involves licensing out to global partners.
Artimplant has already developed and patented several different degradable ligament implants that are now undergoing clinical trials. The Company is focusing on three high-priority areas for this degradable material: an augmentation device for anterior cruciate ligament reconstruction, hand surgery and augmentation sutures.
Artimplant is listed on the OM Stockholm Exchange's O list.
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