One of CLS’s largest shareholders has subscribed for its pro rata share in the current rights issue
Lund, Sweden – One of Clinical Laserthermia Systems AB (publ), ("CLS" or the "Company") largest shareholder, Khattar Holdings Private Limited ("Khattar Holdings"), has today informed the Company that it has subscribed for its pro rata share of B-shares in the current rights issue.
"We came in contact with CLS two years ago, when CLS and Advanced Medical Systems Pte Ltd, Singapore, a company in which we have been investing in for many years, formed a joint venture in Singapore to market CLS’s products in the Asia-Pacific region. We have been following CLS’s journey ever since and are impressed by the progress they have made in the last year, both in the product development of TRANBERG® and in the company's market expansion. We see great potential in the company and its product technologies. We invested in the company’s directed share issue last year as one of the largest new investors, and we have decided to continue to support CLS as an investor in the current rights issue. We look forward to being part of the company’s continued progress, says Mr Navin Khattar of Khattar Holdings Private Limited.
On 10 August 2022, CLS announced that the Board of Directors had resolved on an issue of units with preferential right for existing shareholders (the “Rights Issue”). The decision was taken pursuant to the authorization granted by the Annual General Meeting on 28 June 2022.
One of the Company's largest shareholder, Khattar Holdings, which holds approximately 1.9 percent of the votes and 2.1 percent of the capital in CLS, has today informed the Company that it has subscribed for its pro rata share of B-shares in the Rights Issue, corresponding to approximately SEK 1.4 million, in accordance with the terms in the prospectus.
Khattar Holdings is a family business founded in 1975 with an investment portfolio ranging from real estate, hotels and restaurants to high-tech and medical technology companies and has investments in both private and public companies in Asia, Europe, and the United States. Khattar Holdings is an active investor in Advanced Medical Systems Pte Ltd (AMS), an advanced provider of systems and services for medical devices for the Asia Pacific region, which since 2020 is CLS partner of CLS Asia Pacific Pte. Ltd., the Company’s Asian representation.
The last day of trading in unit rights is Thursday, 1 September 2022, and the last day of the subscription period is 6 September 2022.
For further information about the Rights Issue, please contact:
Sedermera Corporate Finance AB
Phone: +46 40 615 14 10
E-mail: cf@sedermera.se
www.sedermera.se
For more information about CLS, please contact
Dan J Mogren, CEO
Phone: +46 (0) 70-590 11 40
E-mail: dan.mogren@clinicallaser.com
www.clinicallaser.se
Certified Adviser
FNCA Sweden AB
Phone: +46 8 528 00 399
E-mail: info@fnca.se
This press release has been translated from Swedish. The Swedish text shall govern for all purposes and prevail in case of any discrepancy with the English version.
About CLS and TRANBERG system
Clinical Laserthermia Systems AB (publ) develops and sells the TRANBERG®|Thermal Therapy Systems, including Thermoguide Workstation and sterile disposables, for minimally invasive treatment of cancer tumors and drug-resistant epilepsy, according to regulatory approvals in the EU and the US. The products are marketed for image-guided laser ablation and used in studies for treatment with imILT®,
the Company’s interstitial laser thermotherapy for immunostimulant ablation with potential abscopal effects. CLS is headquartered in Lund and has subsidiaries in Germany, the US and Singapore. CLS is listed on the Nasdaq First North Growth Market under the symbol CLS B. The Certified Advisor (CA) is FNCA Sweden AB, Tel: +46 8 528 00 399. E-mail: info@fnca.se
For more information about CLS, please visit the Company's website: www.clinicallaser.se