The Board of Directors of BioPorto A/S has issued warrants to the executive
management and the employees as authorized by the Annual General Meeting (AGM)
on March 28, 2008. The issued warrants allow for subscription of 483,250 of
nominally DKK 3.00 each in BioPorto A/S by cash payment, equal to a nominal
value of DKK 1,449,750. The exercise price is set at DKK 3.50.
The Board of Director's decision to issue warrants is a partial utilization of
the authorization in article 15 of the Company's articles of association
following which the Board of Directors is authorized to issue, on one or more
occasions, a number of warrants for shares of nominal value DKK 3.00
corresponding to a maximum of 5% of the Company's nominal capital stock at any
given time without any pre-emption right for the present shareholders of the
Company.
This issue of 483.250 warrants is equivalent to 1.26% of the nominal capital
stock and at an earlier issue 1,427,500 warrants were issued. Thus, a total of
1,910,750 warrants have been issued which is equivalent to 4.99% of the current
nominal capital stock. This includes 910,000 warrants issued in 2006 whereof
87,840 are utilized and the remaining 882,160 will lapse unutilized by August
2009 as they were unutilized by the final subscription date April 13, 2009.
The issued warrants are distributed as follows: The executive management is
granted 58,200 warrants and the employees of BioPorto A/S and BioPorto
Diagnostics A/S are granted 425,050 warrants, all at market price fixed as a
weighted average of the listed price in the most recent ten days of trading on
Nasdaq OMX Copenhagen prior to the issue on April 16, 2009, yet no less than a
minimum price of DKK 3.50. The minimum price of DKK 3.50 applies. A term of
maturity of two years is incorporated into the program which means that the
warrants granted may at the earliest be exercised on April 16, 2011.
The market value of these 483,250 warrants is calculated to DKK 1,131,670 based
on Black-Scholes formula for valuation of warrants.
Gentofte April 16, 2009
The Board of Directors
For further information please contact:
Thea Olesen, CEO
Christina Tønnesen, investor relations
Tel. +45 45 29 00 00, e-mail investor@bioporto.com
