Rights issue in Bluefish Pharmaceuticals AB
• Rights issue in Bluefish Pharmaceuticals AB aiming to raise approximately SEK 50 million
• Exchange ratio and subscription price set to 1:3 and SEK 8 respectively
• Subscription period from 19 August until and including 5 September 2008
• The rights issue is subject to approval at an Extraordinary Shareholder’s Meeting to be held on 2 September 2008
• The rights issue is guaranteed by Färna Invest AB, a major shareholder in Bluefish Pharmaceuticals AB up to an amount of SEK 50 million.
The Board of Directors of Bluefish Pharmaceuticals AB has resolved on a rights issue of shares in Bluefish Pharmaceuticals with the intention of raising approximately SEK 50 million to secure the company’s continued expansion of its product portfolio and launch into new markets. The new issue resolution by the Board of Directors is subject to approval at an Extraordinary Shareholder’s Meeting to be held on 2 September, 2008.
The shareholders have the right to subscribe for one new share for three existing old shares held. Shares that are not subscribed for using primary preferential rights will be allotted to subscribers on a pro rata basis (secondary preferential rights), and shares not subscribed for either by primary or secondary preferential rights may be allotted at the discretion of the Board of Directors. The issue price is SEK 8 per share.
The resolution on a rights issue will increase the share capital with a maximum of SEK 1 561 620 through the issue of not more than 7 808 100 new B shares, where existing shareholders and holders of convertibles will have primary preferential rights to subscribe for shares in proportion to their previous holdings. The record day at the Swedish Central Securities Depositary, VPC AB for participation in the rights issue will be 19 August, 2008. Subscription shall take place during the subscription period between 19 August until and including 5 September, 2008, or such later date as decided by the Board of Directors.
An Extraordinary Shareholder’s Meeting for the approval of the resolution of the Board of Directors is to be held on 2 September, 2008. Notice to attend the Extraordinary Shareholder’s Meeting is made public in a press release and is advertised separately in the newspapers Post- och Inrikes Tidningar and Dagens Industri on 13 August, 2008.
Färna Invest AB, a major shareholder in Bluefish Pharmaceuticals AB with a holding representing approximately 9% of the shares, has entered into an agreement undertaking to subscribe for new shares of the rights issue corresponding to SEK 50 million.
Subscription of shares with primary preferential rights is simultaneously paid for in cash. Subscription and payment of shares without primary preferential rights shall be made in accordance with the subscription lists distributed by the company.
Time schedule for the rights issue:
19 August 2008 Record day for participation in the new share issue, i.e. shareholders registered in the share register of Bluefish Pharmaceuticals as of this day will receive subscription rights for the participation in the rights issue.
19 August – 5 September 2008 Subscription period.
2 September 2008 Extraordinary Shareholder’s Meeting decides on the resolution of the Board of Directors regarding the rights issue.