Mandatory notification of trade
associate to Member of the Board Øyvind Sandvold, acquired 50,000
shares in Navamedic ASA from Zirconia AS, close associate to Chairman
of the Board Thorleif Thormodsen.
The 50,000 shares were acquired at a price of NOK 13,10 per share,
based on the bid price at the opening of trade yesterday.
Weifa AS has a new holding in Navamedic of 614,117 shares, equal to
10,89% of the outstanding shares.
Zirconia AS has a new holding in Navamedic of 471,433 shares, equal
to 8,36% of the outstanding shares.
In connection with the listing of Navamedic's shares on Oslo Børs on
March 31, 2006, Zirconia AS signed a lock-up agreement for all its
shares with Handelsbanken Capital Markets (as presented in the
listing prospectus). The 50,000 shares were sold to Weifa following a
written approval from Handelsbanken Capital Markets.
For further information, please contact:
Per Torgeir Sønsterud, Financial Director, Weifa AS
E-mail: per.torgeir.sonsterud@weifa.no
Office: +47 22 99 86 05
Mobile: +47 98 20 75 09
Thorleif Thormodsen, Zirconia AS
Email: thorleif.thormodsen@zirconia.no
Office: +47 52 70 73 10
Mobile: +47 90 56 37 50
About Navamedic ASA:
Navamedic is a Norwegian speciality pharmaceutical company focusing on the development and production of glucosamine HCl (hydrochloride) based medicines. Glucosamine is a generic active ingredient which relieves pain and improves function in patients with mild to moderate osteoarthritis. The product has a favourable safety profile. Osteoarthritis is a chronic disease which affects a large and growing share of the world's population. Navamedic aims to become a leading company in the glucosamine industry, with a competitive advantage in proprietary production technology. The company's products will be sold through a network of sales, marketing and distribution partners. Navamedic's product Glucomed has been approved as a medicine against osteoarthritis in 20 European countries. The product was launched in Sweden in December 2005, and Navamedic prepares product launches in further European countries in 2006.