Announcement
NeuroSearch releases time schedule for the completion of the directed offering
of 300,000 new shares subscribed for by institutional investors to finance a
milestone payment to the sellers of Carlsson Research AB
In announcement no. 19-08 of today, NeuroSearch has announced that the company's
Board of Directors has decided to carry out a capital increase by way of a
directed offering of shares at market price through an accelerated book building
process. The capital increase comprises a total of 300,000 new shares of DKK 20
nominal value each, equivalent to a total nominal amount of DKK 6,000,000 and
approx. 1.9% of NeuroSearch's current share capital. The new shares have been
subscribed for by institutional investors in Denmark and abroad in a directed
market offering of shares at a price of DKK 280, corresponding to gross proceeds
for NeuroSearch of DKK 84 million.
This announcement concerns the expected time schedule for the completion of the
offering.
Admission to trading and official listing
The new shares will be issued through the Danish VP Securities Service
(‘Værdipapircentralen') in the temporary ISIN DK0060137834. The new shares will
be admitted to trading and official listing on the OMX Nordic Exchange
Copenhagen A/S in the ISIN of NeuroSearch's existing shares (ISIN DK0010224666)
once the new shares have been registered with the Commerce and Companies Agency.
Admission to trading and official listing of the shares issued in the directed
market offering is expected to take place on 27 May 2008.
NeuroSearch's issuing agent is Nordea Bank Danmark A/S.
Expected time schedule for the capital increase
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| Date | Event |
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| 21 May 2008 | Decision by the board of directors to exercise its |
| | authorisation to increase the share capital |
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26 May 2008
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| Payment of shares |
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| Registration of the new shares with the Commerce and Companies Agency |
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| 27 May 2008 | Admission to trading and official listing of the new |
| | shares with the OMX Nordic Exchange Copenhagen A/S |
| | under the ISIN for NeuroSearch's existing shares (ISIN |
| | DK0010224666) |
--------------------------------------------------------------------------------
| 29 May 2008 | The temporary ISIN is merged with the existing ISIN |
| | after daily update |
--------------------------------------------------------------------------------
Thomas Hofman-Bang
Chairman of the board
Contact persons:
Flemming Pedersen, CEO, telephone: +45 4460 8214 or +45 2148 0118
Hanne Leth Hillman, Vice President, Director of Investor Relations & Corporate
Communications, telephone, +45 4017 5103
This announcement contains certain statements that are forward-looking,
including statements with respect to the development of the company's drug
pipeline, its planned use of proceeds and its forecast for 2008. Such
forward-looking statements are not guarantees of future performance and involve
risks and uncertainties, and actual results may differ materially from those in
the forward-looking statements as a result of various factors. Readers are
cautioned not to place undue reliance on those forward-looking statements, which
speak only as of the date hereof.
NeuroSearch (NEUR) is a Scandinavian biopharmaceutical company listed on the OMX
Nordic Exchange Copenhagen A/S. Our core business covers the development of
novel drugs, based on a broad and well-established drug discovery platform
focusing on ion channels and CNS disorders. A substantial part of the company's
activities are partner financed through a broad alliance with GlaxoSmithKline
(GSK) and collaborations with among others Abbott and Astellas. The drug
pipeline comprises 13 clinical (Phase I-III) development programmes: ACR16 in
Huntington's disease (Phase III), tesofensine in obesity (Phase III in
preparation), NS2359 in depression (Phase II) and ADHD (Phase II) in partnership
with GSK, NS1209 in epilepsy/pain (Phase II), ABT-894 in ADHD (Phase II) and
pain (Phase II) in partnership with Abbott, ACR16 in schizophrenia (Phase I) in
partnership with Astellas, ACR325 in bipolar disorder/Parkinson's disease (Phase
I), ABT-107 as well as ABT-560 for the treatment of various CNS diseases - both
(Phase I) in collaboration with Abbott, NSD-644 in pain a.o. (Phase I) in
partnership with GSK and ACR343 in Parkinson's disease (Phase I). In addition,
NeuroSearch has a broad portfolio of preclinical drug candidates and holds
equity interests in several biotech companies.
This document does not constitute an offer to sell or the solicitation of an
offer to buy the securities of NeuroSearch A/S (the “Securities”) in Australia,
Canada, Japan or the United States, or in any other jurisdiction. The Securities
may not be offered or sold in the United States absent registration or an
exemption from registration under the U.S. Securities Act of 1933, as amended.
The issuer of the Securities has not registered, and does not intend to
register, any portion of the offer in the United States, and does not intend to
conduct a public offering of Securities in the United States.
This document is directed at and for distribution only to persons who (i) are
outside of the United Kingdom, (ii) have professional experience in matters
relating to investments and fall within Article 19(5) ("investment
professionals") of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (as amended, the “Financial Promotion Order”), or (iii)
are persons falling within Article 49(2)(a) to (d) (“high net worth companies,
unincorporated associations etc”) of the Financial Promotion Order, (all such
persons mentioned in (i), (ii), and (iii) together being referred to as
“Relevant Persons”). The Securities are directed only at Relevant Persons and
any investment or investment activity to which this document relates is
available only to Relevant Persons and will be engaged in only with Relevant
Persons.
NeuroSearch releases time schedule for the completion of the directed offering of 300,000 new shares subscribed for by institutional investors
| Source: NTG Nordic Transport Group A/S
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