BIOHIT OYJ TO ISSUE A CONVERTIBLE BOND
BIOHIT OYJ STOCK EXCHANGE RELEASE ON 3 AUGUST 2010 AT 01:00 PM
BIOHIT OYJ TO ISSUE A CONVERTIBLE BOND
Authorized by the Annual General Meeting, the Board of Directors of Biohit Oyj
has decided today to issue a convertible bond targeted at institutional
investors in Finland.
Deviating from the shareholders' pre-emptive subscription right, the bond will
be offered for subscription to shareholders chosen by the Board of Directors.
The bond has a value of EUR 4.05 million and a five-year maturity. The fixed
coupon rate of the bond is 6.5%. The bond is set to be issued on 28 October
2010 and will not become available for public trading.
This new bond will replace Biohit Oyj's earlier convertible bond of the same
size, which is due to mature in October 2010. The issue is part of a set of
measures aimed at optimising the company's long-term financing plan. On this
basis, the company takes the view that there are substantial financial reasons
for deviating from the shareholders' pre-emptive subscription right.
The issue will be chiefly organised by Pohjola Corporate Finance Oy.
Jussi Heiniö
President & CEO
Biohit Oyj
Further information:
Jussi Heiniö, President & CEO
Tel: +358-9-773 861
Email: jussi.heinio@biohit.com
Distribution:
NASDAQ OMX Helsinki Oy
Central storage facility (www.oam.fi)
Press
www.biohit.com
About Biohit Oyj
Established in 1988, Biohit Oyj is a Finnish biotechnology company, acting on
the global market. Biohit's operations are based on a goal-oriented and
long-term innovation and patenting strategy.
Biohit works with scientific communities to produce new technologies, products
and services based on research results and innovations that can be used to
develop safe and cost-effective liquid handling solutions for laboratory work as
well as diagnostic tests for the early detection and prevention of diseases of
the gastrointestinal tract.
Biohit has two business segments: liquid handling and diagnostics. Liquid
handling products include electronic and mechanical pipettes, disposable tips as
well as pipette maintenance and calibration services for research institutions,
healthcare and industrial laboratories.
The diagnostics business comprises products and analysis systems for the early
diagnosis of gastrointestinal diseases, such as the blood-sample based
GastroPanel examinations for the diagnosis of stomach illnesses and associated
risks, quick tests for the diagnosis of lactose intolerance and H. pylori
infection in connection with gastroscopy, and the ColonView examination for the
early detection of intestinal bleeding that indicates a risk of colorectal
cancer. The Acetium innovation reduces carcinogenic acetaldehyde in anacidic
stomachs.
The Biohit Group employs around 390 people. The company is headquartered in
Helsinki, Finland, and has subsidiaries in France, Germany, the UK, Russia,
India, China, Japan and the USA, as well as a representative office in
Singapore. Additionally, Biohit's products are sold by approximately 450
distributors in 70 countries.
Biohit's series B share (BIOBV) is quoted on NASDAQ OMX Helsinki, Small
cap/Healthcare since 1999.
Read more at www.biohit.com
