STOCKHOLM, Sweden, June 28, 2005 (PRIMEZONE) -- On June 27 2005 the board of Biotage AB decided to increase the company's share capital by means of a new issue of 3 million shares. The shares are subscribed by Svenska Handelsbanken for resale to a limited number of institutional investors in Sweden and abroad. The decision is based on the authorization to the board by the annual general meeting held on April 27 2005.
By the new issue, the share capital is increased by SEK 3 million to SEK 67,042,108. The issue price amounts to SEK10.00 per share, corresponding to approx. 97.1 percent of the average volume weighted price paid for the Biotage share on June 27, 2005, and approx. 97.4 percent of the average volume weighted price paid for the share during the ten latest trading days (June 13 -- 27 2005).
The new shares correspond to approx. 4.5 percent of the capital and votes of Biotage following the issue. After deduction of costs, the new share issue brings the company new capital amounting to approx. SEK 29 million.
The motive for the issue and the deviation from the shareholders' preemption rights is to promptly and efficiently finance a part of the acquisition of Argonaut's business.
About Biotage
Biotage is a global company active in life science research with strong technologies, a broad range of operations and a long-term view of the market. The company offers solutions, knowledge and experience in the areas of genetic analysis and medicinal chemistry. Customers include the world's top 30 pharmaceutical companies, 20 largest biotech companies and leading academic institutes. The company is headquartered in Uppsala and has offices in the U.S., Japan and several European countries. Biotage has approx. 320 employees and had pro-forma sales of approx. 500 MSEK in 2004. Biotage is listed on the Stockholm stock exchange. Website: www.biotage.com
Certain statements in this press release are forward-looking. These may be identified by the use of forward-looking words or phrases such as "believe," "expect," "intend," and "should," among others. These forward-looking statements are based on Biotage's current expectations. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for such forward-looking statements. In order to comply with the terms of the safe harbor, Biotage notes that a variety of factors could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. Such uncertainties and risks include, but are not limited to, risks associated with management of growth and international operations (including the effects of currency fluctuations), variability of operating results, the commercial development of the microwave synthesis and flash purification in the drug discovery market, DNA sequencing and genomics market, nucleic acid-based molecular diagnostics market, and genetic vaccination and gene therapy markets, competition, rapid or unexpected changes in technologies, fluctuations in demand for Biotage's products (including seasonal fluctuations), difficulties in successfully adapting the Company's products to integrated solutions and producing such products, and the Company's ability to identify and develop new products and to differentiate its products from competitors.
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://wpy.waymaker.net/client/waymaker1/WOLReleaseFile.aspx?id=111317&fn=wkr0001.pdf