GENOVIS RIGHTS ISSUE 67% SUBSCRIBED
The preliminary outcome of Genovis’ rights issue is a subscription rate of about 67%. Existing shareholders subscribed to 88% of the total proceeds from the share issue. The rights issue raised about SEK 16.1 million before issue expenses for Genovis. Statements of account are expected to be sent on May 7, 2010, to allot shares subscribed without preferential rights.
“I am extremely grateful for the support from our shareholders. While it is impossible to be fully satisfied when you fall short of the goal, the rights issue is still a demonstration of strength for Genovis. Proceeds from the share issue together with the revenues we received so far this year will cover the company's financing needs for at least 18 months and enable us to execute our strategy as planned,” says Sarah Fredriksson.