Recipharm releases the lock-up on 815,000 B-shares related to shares to be issued upon conversion of convertible bonds
In connection with the acquisition of Corvette Pharmaceutical Services Group completed on October 1, 2014, Recipharm AB (publ) (“Recipharm”) issued convertible bonds with a nominal value of EUR 50 million as part of the financing of the acquisition. The convertible bonds can be converted into up to 5,030,549 class B-shares. The holders of the convertible bonds have agreed to a lock-up in respect of the new shares issued upon conversion until 14 February, 2015.
Recipharm has received a request and has released the lock-up on 815,000 B-shares related to shares to be issued upon conversion of the convertible bonds. The release of the lock-up has been granted to facilitate the sale of 815,000 class B-shares to three Swedish and Finnish long-only fund managers.
Together with yesterdays transaction Recipharm has released the lock-up on 2 115 000 class B-shares out of the total 5,030,549 mentioned above.
For further information please visit www.recipharm.com or contact:
Thomas Eldered, CEO, firstname.lastname@example.org, telephone: +46 8 602 52 00
Björn Westberg, CFO, email@example.com, telephone: +46 8 602 46 20
This information is published in accordance with the Swedish Securities Market Act, the Swedish Financial Instruments Trading Act and/or the regulations of NASDAQ Stockholm. This information was submitted for publication on 22nd January 2015 at 13:45 CET.
Recipharm is a leading CDMO (Contract Development and Manufacturing Organisation) in the pharmaceutical industry based in Sweden employing some 2,200 employees. Recipharm offers manufacturing services of pharmaceuticals in various dosage forms, production of clinical trial material including API and pharmaceutical product development. Recipharm manufactures more than 400 different products to customers ranging from Big Pharma through to smaller research and development companies. Recipharm’s turnover is approximately SEK 3.3 billion and the Company operates development and manufacturing facilities in Sweden, France, the UK, Germany, Spain, Italy and Portugal and is headquartered in Jordbro, Sweden. The Recipharm B-share (RECI B) is listed on NASDAQ Stockholm.
For more information on Recipharm and our services, please visit www.recipharm.com.
Recipharm AB (publ)
Corporate identity number 556498-8425
Address Lagervägen 7, SE-136 50 Jordbro, Sweden, Telephone 46 8 602 52 00, Fax 46 8 81 87 03