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Primary insider notification regarding Subscription Rights in the Rights Issue

(Oslo, Norway, 14 September 2016) Reference is made to the announcement on 14 September 2016 by Bionor Pharma ASA ("Bionor"or the"Company",ticker "BIONOR") regarding inter alia the rights issue of 525,000,000 new shares in the Company at a subscription price of NOK 0.10 per share (the"Rights Issue") to shareholders in the Company as per the end of 9 September 2016 who shall have preferential rights to subscribe for new shares in the Company, provided such are not resident in a jurisdiction where such offering would be unlawful, or would (in jurisdictions other than Norway) require any prospectus filing, registration or similar action (the"Eligible Shareholders").

STOCK EXCHANGE ANNOUNCEMENT

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES

Eligible Shareholders will receive 1.5640403 subscription rights ("Subscription Rights") for each share held as per the end of 9 September 2016 and as documented by the shareholder register in the VPS as of 13 September 2016 (T+2) (the"Record Date"). Subscription Rights will not be awarded based on the shares subscribed for in the private placement.

Certain primary insiders of the Company have received Subscription Rights in the Rights Issue. The following table sets out details in respect of such primary insiders:

 

Name

Position

Shareholding as at Record Date

Subscription Rights

Total shareholding (if all Subscription Rights are exercised)

Lars H. Høie1

Former board member

75,253,370

117,699,303

192,952,673

Steen Krøyer1

Former board member

299,700

468,742

768,442

Jens Krøis

CFO

105,600

165,162

270,762

Barbara Ann Ruskin

Chief Patent Officer

92,900

145,299

238,199

Cecilie Grue2

Legal Director

105,600

165,162

270,762

Gunnar Flåten

VP Director of Finance

817,500

1,278,602

2,096,102

Maja Sommerfelt

VP Director of Research & External Innovation

319,287

499,377

818,664

1 Pursuant to the extraordinary general meeting held in the Company on 9 September 2016 both Mr. Høie and Mr. Krøyer have been replaced as board members, effective from 15 September 2016. They are, from 15 September 2016 accordingly no longer to be classified as primary insiders of the Company.

2 Grue Invest AS controlled by Cecilie Grue

Further information
Per S. Thoresen, Chairman of the Board of Directors, +47 906 14 620
Unni Hjelmaas, Acting CEO, +47 915 19 651, uh@bionorpharma.com

Link to announcement in pdf