Approved prospectus and commencement of subscription period for subsequent repair offering
Reference is made to the stock exchange notice dated 7 October 2010 regarding successful private placement in DiaGenic ASA ("DiaGenic" or the "Company"), and the stock exchange notice dated 29 October 2010 regarding the resolution to approve the private placement and the subsequent repair offering by the Company's extraordinary general meeting held on 29 October 2010.
The prospectus for the listing of 140,000,000 placement shares resolved issued in the private placement and up to 60,000,000 offer shares to be issued in connection with the subsequent repair offering was approved by the Financial Supervisory Authority of Norway on 2 November 2010 and made public on 3 November 2010. Please refer to the prospectus for further information on the subsequent repair offering. The prospectus is available electronically at www.diagenic.com, and www.dnbnor.no/emisjoner. The prospectus is also available free of charge at the business offices of DiaGenic ASA and DnB NOR Markets by request.
The subscription period for the subsequent repair offering commences today, 3 November at 09:00 (CET), and expires at 17:30 (CET) on 17 November 2010.
The subscription price in the subsequent repair offering is NOK 0.50 per share.
The Company's shareholders as of 6 October 2010, with the exception of shareholders allocated shares in the private placement resolved by the Company's extraordinary general meeting on 29 October 2010, will receive 1.06880 transferable subscription rights for each existing share in the Company as of 6 October 2010. The number of subscription rights to be issued to each shareholder will be rounded down to the nearest whole subscription right. Each subscription right entitles the holder thereof to subscribe for one new share in the subsequent repair offering. The subscription rights are tradable and will be listed on Oslo Børs during the subscription period under ticker "DIAG S".
Oversubscription and subscription of shares without subscription rights is permitted. Subscription Rights not used to subscribe for shares before the expiry of the subscription period will lapse without compensation to the holder, and consequently be of no value. For shareholders in jurisdictions where the offer under the subsequent repair offering is not permitted, the subscription rights may, upon instruction from the Company, be sold by the manager on behalf of such shareholders and the cash consideration will be transferred to such shareholder’s account, net of costs and expenses, if they have a value exceeding the costs involved in selling the subscription rights.
Upon completion of the subsequent repair offering, the share capital of the Company will be increased by up to NOK 3,000,000 through issue of up to 60,000,000 new shares, each with a nominal value of NOK 0.05.
The expected time table for the subsequent offering is as follows:
3 November 2010: Commencement of subscription period and listing of subscription rights on Oslo Børs
17 November 2010: End of subscription period at 17:30 (CET)
On or about 23 November 2010: Allocation, distribution of allocation letters and announcement of the final result of the subsequent offering
26 November 2010: Payment date for the allocated offer shares
On or about 6 December 2010: Registration of share capital increase in the Norwegian Register for Business Enterprises and first day of trading of the new shares on Oslo Børs.
DnB NOR Markets has acted as manager in the private placement and the subsequent repair offering.
For further information, please contact:
Erik Christensen (CEO), telephone +47 2324 8950
This information is subject of disclosure requirement according to section 5-12 of the Norwegian Securities Trading Act.
About DiaGenic ASA
DiaGenic is an innovative Norwegian biotechnology company that seeks to create value for patients, partners, and investors by developing new and more patient friendly methods for early detection of diseases. DiaGenic is currently a world leader in analyzing gene expression signatures related to disease in easily available clinical samples such as peripheral blood. This unique method is based on the principle that even when a disease is localized at a specific part of the body, secondary responses, which are also characteristic of the disease, can be measured in other parts of the body. DiaGenic has developed and CE marked two blood based diagnostic tests, BCtect® for early breast cancer detection and ADtect® for early detection of Alzheimer’s Disease. The company protects its technology through an extensive patent portfolio. DiaGenic promotes its products towards leading pharmaceutical and imaging companies, and towards clinicians. DiaGenic is listed on the Oslo Stock Exchange. For more information visit www.diagenic.com