Sobi issues series C shares to fulfil its obligations under outstanding incentive programmes
STOCKHOLM, Oct. 31, 2023 /PRNewswire/ -- The Board of Directors of Swedish Orphan Biovitrum AB (publ) (Sobi®) (STO: SOBI) ("Sobi") has, based on the authorisation of the Extraordinary General Meeting on 15 August 2023, resolved on a directed issue of redeemable and convertible series C shares to secure Sobi's obligations under the outstanding incentive programmes.
The Extraordinary General Meeting of Sobi on 15 August 2023 resolved to authorise the Board of Directors to resolve on a directed issue of series C shares, with the aim of ensuring that Sobi can fulfil its obligations under the outstanding long-term incentive programmes (after the recalculation of the number of common shares that may be delivered under each programme as a result of the completed rights issue). Furthermore, the Extraordinary General Meeting also resolved to authorise the Board of Directors to resolve on the repurchase of all issued series C shares through an acquisition offer directed to all owners of series C shares in Sobi.
The Board of Directors has today resolved to issue 602,482 series C shares. The right to subscribe for the new series C shares shall, with deviation from the shareholders' preferential right to subscribe for shares, be granted Svenska Handelsbanken AB. The share issue will be carried out at the shares' quota value of approximately SEK 0.55 per share, and subscription for the new shares shall be made during the period 31 October - 1 November 2023. The Board of Directors also resolved, conditional upon that Svenska Handelsbanken AB subscribes and pays for 602,482 series C shares, to repurchase all 602,482 series C shares for a corresponding amount.
Upon repurchase of all 602,482 series C shares, the intention is to convert the repurchased series C shares into common shares pursuant to the conversion provision in Sobi's articles of association to secure future delivery of common shares to the participants in the outstanding incentive programmes. The intent is to repurchase and convert the shares as soon as possible after the share issue.
Sobi currently holds 14,294,637 own common shares and no own series C shares. Following the repurchase and conversion of the series C shares to common shares, Sobi will hold 14,897,119 own common shares.
Sobi
Sobi® is a specialised international biopharmaceutical company transforming the lives of people with rare and debilitating diseases. Providing reliable access to innovative medicines in the areas of haematology, immunology and specialty care, Sobi has approximately 1,800 employees across Europe, North America, the Middle East, Asia and Australia. In 2022, revenue amounted to SEK 18.8 billion. Sobi's share (STO:SOBI) is listed on Nasdaq Stockholm. More about Sobi at sobi.com, LinkedIn and YouTube.
Contacts
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Sobi issues series C shares to fulfil its obligations under outstanding incentive programmes |
SOURCE Swedish Orphan Biovitrum AB
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