CORRECTION: Increase of share capital following exercise of warrants and conversion of bonds
2011-04-08 14:33:34
BioPorto A/S
Company Announcement
CORRECTION: Increase of share capital following exercise of warrants and
conversion of bonds
Increase of share capital
BioPorto A/S increases the share capital by nom. DKK 951,180 following the
exercise of warrants and conversion of convertible bonds.
The capital increase is made up by nom. DKK 193,680 to the conversion of
convertible bonds to shares and nom. DKK 757,500 to the exercise of warrants to
shares, as elaborated below.
The new shares are expected to be admitted to trading on NASDAQ OMX Copenhagen
in the same ISIN code as the company's existing shares, ISIN code DK0011048619,
as soon as possible.
Conversion of bonds
The convertible bonds were issued by the Board on August 26, 2010 in accordance
with the authorization of the company articles, article 17, see announcement
no. 09 of August 26, 2010.
The conversion price was set at DKK 6.97 per share of nom. DKK 3.00, thus each
bond, issued in a size of DKK 150,000, entitles conversion to 21,520 shares of
nom. DKK 3.00 in the company.
BioPorto has received notice from one bond holder on the conversion of three
bonds of DKK 150,000 each to a total of 64,560 shares.
The conversion reduces the company's long-term bond debt by DKK 450,000.
Exercise of Warrants
The exercised warrants were issued by the Board on March 31, 2008 in accordance
with an authorization at the time in the company articles as part of an issue
to the Board, executive management and employees of BioPorto A/S and BioPorto
Diagnostics A/S.
The exercise price for executive management and employees was set at market
price at the time of issue, DKK 4.18 per share of nom. DKK 3.00 and for the
Board at DKK 6.15 per share of nom. DKK 3.00, see company announcement no. 06
of April 1, 2008 and the annual report for 2008.
BioPorto has received notice on exercise from 13 members of the Board,
executive management and employees of BioPorto A/S and BioPorto Diagnostics
A/S. The total proceeds of the exercise of warrants are DKK 1,106,670, of which
transaction costs must be deducted.
The new shares are distributed as follows:
New shares are issued to No. of shares
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Bond holder 64,560
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Board of Directors 26,000
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CEO 25,000
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CFO 40,000
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Other employees 161,500
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Total 317,060
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Cost
Transaction costs for the capital increase is expected to amount to a maximum
of DKK 100,000
Further information:
Christina Thomsen, Investor Relations
Tel. +45 45 29 00 00, e-mail investor@bioporto.com