NATTO : LETTER FROM KAPPA BIOSCIENCE
Oslo, Norway (11 June 2020) — Reference is made to the recent stock exchange notices regarding offers by Kappa Bioscience AS ("Kappa") to acquire shares in NattoPharma ASA ("NattoPharma" or the "Company") at an offer price per share of NOK 12.75 (the "Offer"), and NattoPharma Board of Directors' (the "Board") unanimous recommendation to the shareholders to not accept the Offer.
NattoPharma has today received a letter from Kappa in which Kappa alleges that NattoPharma appears to be in infringement with Kappa's not granted European patent application no. 15193746.3 (EP3018116) and potentially also their granted European patent no. EP-B-2346806, and Kappa requires that NattoPharma shall cease and desist from any infringing activity, and if not legal action will be initiated if the patent application is granted. The patent application and the granted patent relates to processes for the preparation of synthetic vitamin K2.
The Board has carefully assessed the letter from Kappa, and the Board is comfortable with the position of NattoPharma and that the content of Kappa's letter will not have a material negative effect on NattoPharma’s operations. The Board therefore unanimously maintain its recommendation to the shareholders to not accept the Offer as it in the opinion of the Board is below the underlying values of NattoPharma.
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This information is subject to the disclosure requirements of section 5-12 of the Securities Trading Act.