Karo Intressenter AB initiates compulsory redemption

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Sep 26, 2022, 02:51 ET

STOCKHOLM, Sept. 26, 2022 /PRNewswire/ -- Karo Intressenter AB^[1] ("Karo Intressenter") announced a public cash offer to the shareholders in Karo Pharma Aktiebolag ("Karo Pharma" or the "Company") to acquire the shares in Karo Pharma not already held by Karo Intressenter at a price of SEK 60 per share (the "Offer"). On 19 September 2022, Karo Intressenter announced the outcome of the Offer, that they completed the Offer and that Karo Intressenter thereby, at the time of the publication of the announcement, controlled in total approximately 93.7 percent of the total number of shares and votes in Karo Pharma. At the same time, Karo Intressenter announced that the acceptance period was extended until 7 October 2022. Karo Intressenter has initiated compulsory redemption of the remaining shares in Karo Pharma.

Karo Intressenter, holding approximately 93.7 percent of the shares and votes in Karo Pharma, has initiated compulsory redemption of the remaining shares in Karo Pharma. Karo Pharma has today notified the minority shareholders that compulsory redemption has been requested and that the minority shareholders will have the opportunity to, no later than two weeks from today's date, in writing report that they wish to bring their own action and state a joint arbitrator. If shareholders to which the redemption claim is directed at does not submit the name of a joint arbitrator within the prescribed time, the Board of Directors of Karo Pharma will file an application with the Swedish Companies Registration Office for appointment of a trustee. The trustee shall appoint a joint arbitrator for the minority shareholders and shall safeguard the interest of absent shareholders in the dispute.

For further information, please contact:
Christoffer Lorenzen, CEO, +46 73-501 76 20, [email protected]
Jon Johnsson, CFO, +46 73-507 88 61, [email protected]

The information was submitted for publication by the contact persons set out above, at 26 September CEST on 08:30 2022.

About Karo Pharma

Karo Pharma offers "Smart choices for everyday healthcare". We own and commercialize reliable original brands within prescription drugs and over-the-counter consumer products. Our products are available in over 90 countries with the core in Europe and the Nordics region. The headquarter of Karo Pharma is in Stockholm and the company is listed on Nasdaq First North Growth Market.

Certified Adviser

Erik Penser Bank AB is the Karo Pharma's Certified Adviser. Contact information: Erik Penser Bank AB, Box 7405, 103 91 Stockholm, Sweden, phone: +46 (0)8-463 80 00, email:[email protected].

^[1] A Swedish private limited liability company (Sw. privat aktiebolag) controlled by EQT VIII, registered with the Swedish Companies Registration Office with corporate registration number 559160-9416.

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https://news.cision.com/karo-pharma/r/karo-intressenter-ab-initiates-compulsory-redemption,c3636297

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https://mb.cision.com/Main/72/3636297/1630733.pdf

Press release (PDF)