The board of directors exercises authorizations to issue and repurchase C-shares, and converts C-shares to common shares
Moberg Pharma AB (publ) today announces 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 16 May 2023 resolved – for the purpose of ensuring that the company can fulfil its commitments under the long-term incentive programme LTI 2023 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 of approximately SEK 1.
The board of directors resolved to exercise the share issue authorization for the said purpose to issue 187,000 class C shares to Vator Securities AB. The share issues shall be made at a price corresponding to the quotient value of the share and must be subscribed for within three weeks from the day of the resolution on the new issue. The board of directors has the right 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 quota value of the share, corresponding to approximately SEK 1 per share. Repurchase of the class C shares may be effected no later than 31 August 2023.
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 258,974 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 445,974.
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 at 8 a.m. CEST on 5 June 2023 through the contact persons above.
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 Canada, among others, and the Company's goal is to receive its first market approval in 2023. 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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