The board of directors exercises authorizations to issue and repurchase C-shares, and converts C-shares to common shares
STOCKHOLM, June 16th 2021. Moberg Pharma AB (OMX: MOB) announced that the board of directors exercises authorizations to issue and repurchase C-shares, and converts C-shares to common shares, to secure the company’s commitments under incentive programme.
The annual general meeting of Moberg Pharma AB (publ) on May 18, 2021 resolved – for the purpose of ensuring that the company can fulfil its commitments under the long-term incentive programme LTI 2021 resolved by the annual general meeting – to authorize the board of directors to resolve on a directed share issue of redeemable- and convertible class C shares.
The general meeting also resolved to authorize the board of directors to resolve on the repurchase of all issued class C shares by an offer directed to all holders of class C shares. Repurchase under this authorization may be made on one or several occasions until the next annual general meeting and at a price not less than 100 per cent and no more than 105 per cent of the quotient value of the share (SEK 0.10).
The board of directors resolved to exercise the share issue authorization for the said purpose to issue 910,000 class C shares to Nordea Bank. The share issues shall be made at a price corresponding to the quotient value of the share and must be subscribed for during the period June 17th – August 31st 2021, with the right of the Board of directors to extend the subscription period.
The board of directors has resolved to exercise the repurchase authorization for the said purpose by repurchasing all issued class C shares against payment corresponding to 100 per cent of the quotient value of the share, corresponding to SEK 0.10 per share. Repurchase of the class C shares may be effected no later than August 31st 2021.
The class C shares will, following the repurchase, be converted to common shares to secure the delivery under the incentive programme.
The company currently holds 554,746 own common shares. After repurchase and conversion of C-shares in accordance with the above, the number of own common shares held will amount to 1,464,746.
For additional information, please contact:
Anna Ljung, CEO, telephone: +46 70 766 60 30, e-mail: anna.ljung@mobergpharma.se
Mark Beveridge, Vice President Finance, telephone: +46 76 805 82 88, e-mail: mark.beveridge@moberpharma.se
About this information
The information was submitted for publication, through the agency of the contact person set out above, at 8.00 a.m. (CET) on June 16th 2021.
About Moberg Pharma, www.mobergpharma.com
Moberg Pharma AB (publ) is a Swedish pharmaceutical company focused on commercializing proprietary innovations based on drug delivery of proven compounds. The company’s main asset, MOB-015, is a novel topical treatment for onychomycosis. Data from phase 3 clinical trials in more than 800 patients for MOB-015 indicate that the product has the potential to become the future market leader in onychomycosis. Moberg Pharma has agreements with commercial partners in place in Europe and Japan, among others, and the company's intention is to submit a registration application during the second half of 2021 in Europe. Moberg Pharma is headquartered in Stockholm and the company’s shares are listed on the Small Cap list of the Nasdaq Stockholm (OMX: MOB).
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