Issue, repurchase and reclassification of shares of series C and transfer of ordinary shares under LTIP 2024
In light of the incentive program adopted by the annual general meeting of Medivir AB (publ) (“Medivir”) on 7 May 2024 (“LTIP 2024”), it is today announced that the board of directors of Medivir has resolved on (i) a share issue of 1,700,000 shares of series C, (ii) repurchase of the 1,700,000 shares of series C, (iii) reclassification of 114,587 shares of series C into ordinary shares and (iv) partial execution of the annual general meeting’s resolution on transfer of own ordinary shares by transferring 126,000 own ordinary shares to participants in LTIP 2024.
Aktieinvest FK AB will subscribe for all 1,700,000 shares of series C at a subscription price of SEK 0.5 per share, equal to the quota value of the shares. All issued shares of series C will thereafter be repurchased by Medivir for the same price of SEK 0.5 per share.
The purpose of the share issue and the repurchase of shares of series C is to enable for participants in LTIP 2024 to acquire ordinary shares for participation in LTIP 2024 (“Investment Shares”), to ensure delivery of shares and to cover social costs and dividend compensations due to LTIP 2024. 114,587 shares of series C will be reclassified into ordinary shares. The reclassified shares together with 11,413 existing own ordinary shares, in total 126,000 ordinary shares, will be transferred to participants in LTIP 2024 as Investment Shares. The remaining number of shares of series C will be held by Medivir until further notice and will be reclassified and transferred in accordance with the terms of LTIP 2024. The shares of series C do not carry rights to dividends.
Medivir’s holding of own ordinary shares was previously 11,413 and of own shares of series C 864,750. Following the repurchase of the 1,700,000 newly issued shares of series C, and after transfer of 11,413 existing own ordinary shares and 114,587 own ordinary shares after reclassification from series C shares, Medivir will hold zero own ordinary shares and 2,450,163 own shares of series C in the company.
For additional information, please contact
Magnus Christensen, CFO
Telephone: +46 8 5468 3100
E-mail: magnus.christensen@medivir.com
Medivir in brief
Medivir develops innovative drugs with a focus on cancer where the unmet medical needs are high. The drug candidates are directed toward indication areas where available therapies are limited or missing and there are great opportunities to offer significant improvements to patients. Medivir is focusing on the development of fostroxacitabine bralpamide (fostrox), a smart, targeted chemotherapy designed to selectively treat liver cancer cells and to minimize side effects. Collaborations and partnerships are important parts of Medivir’s business model, and the drug development is conducted either by Medivir or in partnership. Medivir’s share (ticker: MVIR) is listed on Nasdaq Stockholm’s Small Cap list. www.medivir.com.