KARO PHARMA AB COMPLETES VOLUNTARY OFFER FOR WEIFA ASA
- Karo Pharma AB ("Karo Pharma") has today successfully completed the voluntary offer for Weifa ASA ("Weifa"). Payment of the offer price is being made today to the Weifa shareholders who accepted the voluntary offer and the cash consideration will be available on such shareholders' registered bank accounts in the VPS on or around 9 October 2017. At the same time, 35,453,352 tendered shares are being transferred to Karo Pharma. As a result, Karo Pharma now holds 97.21% of the shares and voting rights in Weifa.
- Karo Pharma intends to effect a compulsory acquisition of the remaining shares in Weifa at a price equal to the offer price of NOK 35 per share as soon as possible. A separate announcement will be released once the compulsory acquisition has been resolved in accordance with the Norwegian Securities Trading Act section 6-22 cf. the Norwegian Public Limited Companies Act Section 4-25.
For further information please contact:
- Peter Blom, CEO, 070-655 56 98 or firstname.lastname@example.org
- Simen Nyberg-Hansen, CFO of Weifa: +47 9820 6355, or email@example.com
ABOUT KARO PHARMA
Karo Pharma is a specialty pharma company that develops and markets products to pharmacies and directly to healthcare providers. The share is listed on Nasdaq Stockholm in the Mid Cap segment.
The information in this report is such that Karo Pharma is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, on October 6, 2017 at 14.30 CET. This press release is also available on www.newsroom.cision.com.
This news release contains certain forward-looking statements that are based on uncertainty, as they relate to events and depend on circumstances that will occur in the future and which, by their nature, may have an impact on results of operations and the financial condition of Karo Pharma and/or Weifa. Such forward-looking statements reflect our current expectations and are based on the information currently available. Neither Karo Pharma nor Weifa can give any assurance as to whether such forward-looking statements will prove to be correct. These forward-looking statements include statements regarding the Offer, our expectations as to the launch of the Offer, including the terms of the Offer and expected timing, expected benefits of the Offer. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, among other things, satisfactions of conditions to the Offer and investor participation in the Offer.
The Offer will not be made in any jurisdiction in which making of the Offer would not be in compliance with the laws of such jurisdiction. This announcement does not in itself constitute an offer. The Offer will only be made based on the Offer document and can only be accepted pursuant to the terms of such document.