STOCKHOLM, Sept. 30, 2019 /PRNewswire/ -- As previously
communicated, Moberg Pharma AB (publ) ("Moberg Pharma" or the
"Company"), intends to propose the Annual General Meeting for the
abbreviated financial year 2019 to resolve on a payment to the
shareholders through redemption of shares. The Board of Directors
has now set the proposed redemption amount to SEK 46.50 per share. Moberg Pharma also announces
that the Company intends to repay the loan of USD 2.5 million that the Company incurred from
the purchaser in connection with the divestment of the Company's
OTC-business last spring.
Moberg Pharma has previously announced that the Board of
Directors intends to propose a payment to the shareholders of
approximately SEK 43-45 per ordinary
share, through an automatic redemption procedure to be implemented
after the Annual General Meeting on October
30th, 2019. It is now clear that the Board of Directors will
propose a payment to the shareholders of SEK
46.50 per ordinary share. An information brochure regarding
the proposed redemption procedure (in Swedish only) is attached to
this press release and is also available on the Company's
website.
The proposed redemption amount of SEK
46.50 per ordinary share exceeds the maximum redemption
amount permitted under the transaction documents entered into with
the purchaser of the Company's OTC-business earlier this spring by
SEK 1.47 per ordinary share. The
purchaser of the OTC-business has accepted the higher redemption
amount against payment of a so-called waiver fee of
SEK 971,439. The Board of Directors' proposal will therefore
be conditional upon the Annual General Meeting approving the
payment of the waiver fee to the purchaser. If the Annual General
Meeting does not approve the payment of the waiver fee, the Annual
General Meeting will still be able to resolve on a payment through
redemption of shares, but the redemption amount may then amount to
a maximum of SEK 45.03 per ordinary
share.
Moberg Pharma also announces that the Board of Directors has
resolved to make a prepayment in full of the loan of USD 2.5 million which the Company incurred from
the purchaser in connection with the divestment of the Company's
OTC-business last spring, as the Board of Directors is of the
opinion that the loan is no longer necessary to finance the
remaining MOB-015-business.
CONTACT:
For more information, please contact:
Anna Ljung, CEO, phone:
070-766-60-30, e-mail: anna.ljung@mobergpharma.se
Peter Wolpert, Executive Chairman,
phone: US: +1-908-432-2203, e-mail:
peter.wolpert@mobergpharma.se
About this information
Moberg Pharma publishes this information in accordance with the EU
Market Abuse Regulation (MAR). The information was submitted for
publication on September 30th, 2019
at 6:00 p.m. CET through the contact
persons above.
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/moberg-pharma/r/moberg-pharma-proposes-to-pay-the-shareholders-sek-46-50-per-ordinary-share-and-repays-the-mob-015-l,c2921705
The following files are available for download:
https://mb.cision.com/Main/1662/2921705/1116011.pdf
|
Moberg Pharma
proposes to pay the shareholders SEK 46.50 per ordinary share and
repays the MOB-015 loan
|
https://mb.cision.com/Public/1662/2921705/85cfd7a01df9a41e.pdf
|
MOB
Informationsbroschyr automatiskt inlösenförfarande
190930
|
View original
content:http://www.prnewswire.com/news-releases/moberg-pharma-proposes-to-pay-the-shareholders-sek-46-50-per-ordinary-share-and-repays-the-mob-015-loan-300927826.html
SOURCE Moberg Pharma