Capital increase of 11,380 shares (equivalent to approximately 0.06% of the existing shares) in Orphazyme A/S as a result of ...
30 January 2018 - 3:29AM
Capital increase of 11,380 shares (equivalent to approximately
0.06% of the existing shares) in Orphazyme A/S as a result of an
issue of bonus shares to KLSDC and UCLB
Company announcementOrphazyme
A/SNo. 02/2018
Copenhagen, Denmark, January 29, 2018 –
Orphazyme A/S, a Danish biotech company listed on Nasdaq Copenhagen
(TICKER: ORPHA.CO), with a late-stage, orphan-drug pipeline, today
decided on a capital increase as a result of a directed issue of
bonus shares to Kansas Life Sciences Development Company, Inc.
(“KLSDC”) and UCL Business PLC (“UCLB”). The capital increase was
decided pursuant to the Board of Directors’ authorization laid down
in Article 3.6 of the Articles of Association.
According to the license agreement entered into
on October 31, 2017 between among others Orphazyme A/S, KLSDC, and
UCLB, Orphazyme A/S shall, following the end of each calendar year,
issue or otherwise deliver to KLSDC and UCLB a total number of
shares equal to the aggregate amount of cash funding that KLSDC and
UCLB have reported to have spent under the grant from the US Food
and Drug Administration received with respect to Orphazyme A/S’
on-going Phase II/III clinical trial on arimoclomol for the
treatment of sIBM. On the basis of a financial report of
expenditures provided by KLSDC and UCLB, Orphazyme A/S will issue
11,380 new shares each with a nominal value of DKK 1, equal to
approximately 0.06% of its total share capital, in favor of KLSDC
and UCLB. Accordingly, Orphazyme A/S’ share capital will be
increased by nominally DKK 11,380 by way of an issue of bonus
shares at par value by transfer of DKK 11,380 from Orphazyme’s
distributable reserves. The number of shares to be delivered to
KLSDC and UCLB has been calculated based on the average closing
price of Orphazyme’s shares on Nasdaq Copenhagen during a 30-day
period preceding the date of issuance. Reference is made to the
prospectus published by Orphazyme A/S on November 6, 2017 for a
further description of the license agreement.
The new shares are negotiable instruments and
will in every respect carry the same rights as the existing shares
from the time of registration of the capital increase with the
Danish Business Authority (which is expected to occur today). The
new shares are expected to be admitted to trading and official
listing on Nasdaq Copenhagen on or around February 1, 2018.
Following the share capital increase, the total
nominal share capital will be DKK 19,939,564, divided into
19,939,564 shares each with a nominal value of DKK 1. Each share
carries one vote at Orphazyme's general meetings. Updated Articles
of Association can be found at www.orphazyme.com.
For additional information, please contact
Orphazyme A/S
Anders Vadsholt,
CFO
+45 28 98 90 55
About Orphazyme A/SOrphazyme is
a Danish biotech company listed on Nasdaq Copenhagen (ticker:
ORPHA.CO) with a late-stage drug pipeline, developing new treatment
options for orphan protein-misfolding diseases. The company was
founded in 2009 based on early scientific discovery in heat-shock
proteins. The company is headquartered in Copenhagen and currently
has 35 employees. The lead candidate arimoclomol is in development
as a potential treatment for four orphan diseases; two
neuromuscular diseases, sporadic Inclusion Body Myositis (sIBM) and
Amyotrophic Lateral Sclerosis (“ALS”), and two lysosomal storage
diseases, Niemann-Pick Type C (NPC) and Gaucher disease. For more
information, please visit www.orphazyme.com.
http://prlibrary-eu.nasdaq.com/Resource/Download/c3e712db-b020-4fa3-a33d-fe1bc0595c1a
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