This is an unofficial in-house translation of the Swedish original. In case of differences the Swedish version shall prevail.
Oasmia Pharmaceutical AB (publ) held an Extraordinary General Meeting during Wednesday, November 6, 2019. In accordance with the Board’s proposal, the EGM resolved that the Board may, on one or more occasions, decide to issue new shares, within the limits of the Articles of Association, with preferential rights for existing shareholders to be paid in cash, by non-cash consideration and / or through set-off, until the next Annual General Meeting.
The purpose of the authorization is for the proceeds of the rights issue to be used mainly to finance and accelerate the commercialization of Apealea and capture new business opportunities based on the Company’s unique XR17 platform. In addition, Oasmia intends to create a stable financial position for the Company that enables expansion in new areas and a stable flow of new projects.
Issuance of new shares under the authorization shall be carried out under customary conditions under prevailing market conditions. The Board has the right to decide on new issues of up to a total amount of approximately SEK 400 million with the support of the authorization.
The Board, or the person appointed by the Board, shall be given the right to make the minor adjustments to the above decisions which may prove necessary in connection with registration with the Swedish Companies Registration Office.
It is noted that the issue authorization that was approved at the Annual General Meeting on September 26, 2019 applies in addition to the above issue authorization, regardless of whether the above authorization applies or not.
For more information:
Urban Ekelund, Head of Investor Relations Oasmia
About Oasmia Pharmaceutical AB
Oasmia Pharmaceutical AB develops, manufactures, markets and sells new generations of drugs in the field of human and veterinary oncology. The company’s product development aims to create and manufacture novel nanoparticle formulations and drug-delivery systems based on well-established cytostatics which, in comparison with current alternatives, show improved properties, reduced side-effects, and expanded applications. The company’s product development is based on its proprietary in-house research and company patents. Oasmia is listed on Nasdaq Stockholm (OASM) and Frankfurt Stock Exchange (OMAX.GR).