Karolinska Development’s Extraordinary General Meeting

STOCKHOLM - December 4, 2014. At the Extraordinary General Meeting of Karolinska Development AB held today, the following resolutions were passed, in accordance with the presented proposals:


Rights issue of convertible bonds: It was resolved that the company shall raise a convertible loan with a nominal amount not exceeding SEK 227,455,941.72 through a rights issue of convertible bonds. The loan carries an annual interest rate of eight (8) per cent and has a term of five (5) years. The conversion rate is SEK 22.

Directed issue of convertible bonds: It was resolved that the company shall raise a convertible loan with a nominal amount not exceeding SEK 172,858,294.11 through a directed issue of convertible bonds to Chia Tai Resources Limited and Sino Biopharmaceuticals Limited, both of which belong the Asian Thai Charoen Pokphand Group (CP Group). The same terms and conditions as for the convertible bonds issued with pre-emption rights for the company’s shareholders shall apply on the convertible bonds in the directed issue.

Performance based share incentive program 2014 II (PSP 2014 II): It was resolved to adopt the board´s proposal for a Performance Share Program 2014 II (PSP 2014 II).

 

Complete information regarding each resolution of the Extraordinary General Meeting can be found on Karolinska Development’s website: www.karolinskadevelopment.com.

 

For further information, please contact:
Bruno Lucidi, CEO, Karolinska Development AB
Phone: +46 (0) 72 245 9892, e-mail: Bruno.lucidi@karolinskadevelopment.com

 

 

 

TO THE EDITORS

About Karolinska Development AB
Karolinska Development aims to create value for patients, researchers, investors and society by developing innovations from world class science into differentiated products that can be partnered. The business model is to: SELECT the most commercially attractive medical innovations that can potentially satisfy unmet medical needs; DEVELOP innovations to the stage where the greatest return on investment can be achieved; and COMMERCIALIZE the innovations through the sale of companies or out-licensing of products. An exclusive deal flow agreement with Karolinska Institutet Innovations AB, along with other cooperation agreements with leading universities, delivers a continuous flow of innovations. For more information, please visit www.karolinskadevelopment.com.

Karolinska Development is listed on NASDAQ OMX (KDEV). Karolinska Development may be required to disclose the information provided herein pursuant to the Securities Markets Act.

 

 

IMPORTANT INFORMATION
This press release is not an offer to sell or a solicitation of any offer to buy any securities issued by Karolinska Development AB (publ) (the "Company") in any jurisdiction.

Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act.  There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. 

In the United Kingdom, this announcement and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this announcement relates is available only to, and will be engaged in only with, “qualified investors” (as defined in section 86(7) of the Financial Services and Markets Act 2000) and who are (i) persons having professional experience in matters relating to investments who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”).  Persons who are not relevant persons should not take any action on the basis of this announcement and should not act or rely on it.


Attachments

Karolinska Development's Extraordinary General Meeting.pdf