15 Jun Private placement towards Vatne Equity AS and Norron AB
Gentian Diagnostics AS: Directed share issue towards Vatne Equity and Norron
Moss, Norway, 15 June 2018. Gentian Diagnostics AS (“Gentian” or the “Company”) has today received applications from Vatne Equity AS, a company controlled by Runar Vatne and represented by Henrik Krefting, the CEO of Vatne Equity AS, along with Norron AB to each subscribe for 699,814 new shares, in total 1,399,628 new shares (the “New Shares”) in the Company at a subscription price of NOK 50.00 per New Share, totalling approximately NOK 70 million. The Company’s Board of Directors has resolved to approve the applications and to issue the New Shares to Vatne Equity AS and Norron AB as soon as the authorisation granted to the Board of Directors at the Company’s Annual General Meeting on 5 June 2018 has been registered with the Norwegian Register of Business Enterprises. The funds from the transaction will provide the Company with financial flexibility to pursue various strategic alternatives, and will also be used for general corporate purposes.
Vatne Equity AS has expressed a strong desire to take a seat at the Board of Directors of Gentian, represented by Henrik Krefting, CEO of Vatne Equity AS, in order to be in the best possible position to contribute to the further growth of the Company. The Company’s Board of Directors acknowledges that the largest shareholders of the Company has expressed their support to Mr Krefting being elected as a member to the Board of Directors, and will engage the Company’s nomination committee to take any appropriate actions to follow-up towards the Company’s general meeting.
Upon issuance by the Board of Directors, the New Shares will equal approximately 10% of the outstanding share capital in the Company. The share issuance will be carried out as a private placement to secure Vatne Equity AS and Norron AB as a long term strategic shareholder in Gentian and to facilitate the opportunity to raise capital without the discount typically seen in rights issues. As a consequence, the Board of Directors of the Company will resolve to set aside the pre-emptive rights of the existing shareholders. The Board of Directors considers this to be in the best interests of the Company and the shareholders.
Following the completion of the offering and the issue of the New Shares, Gentian’s share capital will increase by NOK 139,962.80 to NOK 1,539,592.10 comprising 15,395,921 shares with a nominal value of NOK 0.10 per share. It is expected that the New Shares will be issued and registered on or about 30 June 2018.
Arctic Securities AS (the “Manager”) acted as financial advisor to the Company in connection with the private placement. Aabø-Evensen & Co Advokatfirma AS acted as the Company’s legal advisor.
For further information, please contact:
Bård Sundrehagen, Chief Executive Officer, Gentian Diagnostics AS
Cell Phone: +47 924 14 117
This information is subject of the disclosure requirements acc. to §5-12 (Norwegian Securities Trading Act).
Marked: Merkur Market
Kategori: ANNEN INFORMASJONSPLIKTIG REGULATORISK INFORMASJON
Informasjonspliktige opplysninger: Ja
Vedlegg: 2018 06 15 Private Placement (OSE release) (1)