Proposed fully underwritten rights issue
Oslo, 22 January 2014:
The Board of DiaGenic ASA ("DiaGenic" or the "Company", ticker "DIAG") has resolved to propose that the Company carries out a new share issue of NOK 50 million, by way of a rights issue with preferential rights for shareholders of Diagenic (the "Rights Issue"). The Company has secured a full underwriting of the Rights Issue through an underwriting syndicate consisting of certain large existing shareholders of Diagenic, including Alfred Berg, Arkipel, MP Pensjon, Spar Kapital Investor, Storebrand Vekst, Corona Maritime, Gross Management, and Ferncliff Listed DAI. The underwriting has been made at NOK 0.50 per share, which will be the proposed subscription price in the Rights Issue.
The purpose of the proposed Rights Issue is to strengthen the Company's balance sheet, and thereby enable the Company to consider and pursue further growth and development, whether within its existing business or through new opportunities within biotech/pharmaceuticals or other areas.
The proposed Rights Issue remains subject to shareholder approval at an extraordinary general meeting in DiaGenic expected to be held in mid February 2014 (the "EGM"). A separate notice convening the EGM will be distributed in due course. The subscription period is expected to start medio March after approval of a prospectus.
If approved by the EGM, transferable subscription rights will be issued and listed on Oslo Børs. DiaGenic shareholders are expected to receive approximately 12.25509 subscription rights per share held in DiaGenic on the day of the EGM.
Arctic Securities ASA acts as sole manager and advisor to DiaGenic.
Contact: Ruben Ekbråten, CFO, DiaGenic ASATelephone: +47 23 24 89 50
About DiaGenic ASA DiaGenic is an innovative Norwegian diagnostic company that seeks to create value for patients, partners and investors by developing innovative and patient friendly in vitro diagnostic (IVD) products for early detection of diseases. The company's proprietary concept implies that a disease evokes systemic responses in the blood unique for the disease, and which can be measured by using a blood sample. DiaGenic is a world leader in identifying gene expression signatures in blood and is focused on the development of IVD biomarker products in the field of Alzheimer's disease. The company protects its technology through an extensive patent portfolio. DiaGenic is listed on the Oslo Stock Exchange. For more information please visit: www.diagenic.com