ChronTech Pharma’s rights issue and notice of EGM
The Board of Directors of ChronTech has on September 27 2010, based on the authorization by the AGM, resolved to carry out a rights issue with a maximum of 47,433,752 shares. In the rights issue 11,069,302 shares were subscribed for and raised approx. 5.5 MSEK before transaction costs.
21.5 %, 10,201,910 shares, have been subscribed for by using first rights. 1.8 %, 867,392 shares, have been subscribed for without rights.
The Board of Directors of ChronTech has resolved to convene an EGM to be held on 7 January 2011 at 2.30 pm. The Board proposes that the EGM authorizes the Board to resolve a new issue of shares, warrants and/or convertible debentures and with or without preferential rights for the shareholders. The purpose with the authorization is to enable ChronTech to raise funds corresponding to the part of the recently completed rights issue that was not subscribed.
The notice of the EGM will be published soon.
”We had hoped to be able to get the new investors on board already in the rights offering before Christmas, but with confidence we now look forward to welcome new capital strong owners in ChronTech in the beginning of the new year” says Anders Vahlne, ChronTech Pharma’s CEO.
For more information, please contact:
Anders Vahlne, CEO and Head of Research, ChronTech Pharma AB
Tel: +46 8 5858 1313, mobile phone: +46 709 28 05 28,
E-mail: anders.vahlne@ki.se
About ChronTech
ChronTech develops the therapeutic DNA vaccines ChronVac-C® and ChronVac-B drugs against chronic hepatitis C virus and hepatitis B virus infections, i.e. chronic infections with jaundice causing viruses which can lead to liver cirrhosis and liver cancer. ChronTech has also developed and further develops a patent pending new type of injection needle for a more effective uptake of DNA vaccines. ChronTech also have part ownership in the wound healing therapy ChronSeal®, and in the new platform technology RAS®. The ChronTech share is admitted to trade on First North. Remium AB is Certified Adviser for ChronTech. For more information, please visit: www.chrontech.se
In the event of any discrepancy between the Swedish and English versions of this press release, the Swedish version will take precedence.