STOCKHOLM, Sweden, Sept. 13, 2005 (PRIMEZONE) -- Biotage resolves upon a rights issue: On September 12, 2005 the board of Biotage AB resolved, based on the authorization to the board by the extraordinary shareholders' meeting held on August 30, 2005, to increase the company's share capital by not more than SEK 8,044,212 through an issue of not more than 8,044,212 new ordinary shares, or such higher amount or such higher number of shares that may come from exercise of warrants entitling to subscription of shares.
The issue is to be executed with preferential rights for the shareholders. The record day for receiving subscription rights shall be October 31, 2005. Each existing share shall entitle to 1 subscription right. 10 subscription rights shall entitle to subscription of 1 new share. Subscription of shares shall be made from November 3, 2005 and until November 23, 2005. Subscription of shares through preferential rights shall be made by payment of an issue price of SEK 6 per share.
The new issue increases the share capital to, in aggregate, not more than SEK 88,486,320 (provided that no exercise of warrants is executed prior to September 30, 2005).
In order for warrant holders to have the right to participate in the share issue with shares issued through exercise of warrants, such exercise must have been executed no later than September 30, 2005.
The rights issue is executed to refinance the remaining debt financing regarding 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. The customers include the world's top 30 pharma companies, the world's top 20 biotech companies, and leading academic institutes. The company is headquartered in Uppsala and has offices in the U.S., Japan, UK and several other European countries. Biotage has approx. 340 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.
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