Issue and repurchase of series C shares for share saving program
Pursuant to the authorization granted by the annual general meeting on 14 November 2019, the board of directors of Ascelia Pharma AB (”Ascelia”) has resolved to issue and immediately thereafter repurchase 510,545 series C shares. The shares are issued and repurchased in accordance with the share saving program LTI 2019, which was adopted by the annual general meeting on 14 November 2019.
Pursuant to the authorization granted by the annual general meeting on 14 November 2019, the board of directors of Ascelia has resolved on a directed issue of 510,545 series C shares to Svenska Handelsbanken AB. The subscription price per share amounts to SEK 1, which corresponds to the quota value of the shares. Furthermore, the board of directors has resolved to immediately repurchase all 510,545 series C shares from Svenska Handelsbanken AB at a price corresponding to the subscription price.
The purpose of the issue and the repurchase of series C shares is to, when the series C shares have been converted to ordinary shares, ensure delivery of matching shares and performance shares to employees within Ascelia Pharma who are participating in the share saving program LTI 2019, which was adopted by the annual general meeting on 14 November 2019, and, in terms of liquidity, to hedge payments of future social security contributions related to LTI 2019. Allotment of matching shares and performance shares in LTI 2019 shall take place within 30 days from the publication of the financial report for the period October – December 2022.
Since previously, Ascelia holds no series C shares. The series C shares carry one-tenth of a vote per share and do not entitle to dividends.
For more information, please contact:
Magnus Corfitzen, CEO
Tel: +46 735 179 110
Mikael Widell, IR & Communications Manager
Tel: +46 703 11 99 60
This information was submitted for publication, through the agency of the contact persons set out above, at 5.00pm CET on 2 March 2020.
About Ascelia Pharma
Ascelia Pharma is an oncology-dedicated orphan drug development company located in Malmö, Sweden. The company’s strategy is to develop drugs, which target unmet medical needs, have an established mode of action and a relatively low development risk. Ascelia Pharma has two drug candidates – Mangoral® and Oncoral – currently under development.
Mangoral is a novel contrast agent for MR-scans in Phase III clinical studies. Mangoral is developed to improve the visualization of focal liver lesions (liver metastases) in patient with impaired kidneys that cannot tolerate current gadolinium contrast agents on the market. Oncoral is an oral chemotherapy tablet ready for Phase II for the treatment of gastric cancer. Ascelia Pharma is listed on Nasdaq Stockholm (ticker: ACE). For more information, please visit www.ascelia.com.