Biotie Therapies Corp.'s share issue to the company itself without consideration
(Thomson Reuters ONE) -
BIOTIE THERAPIES CORP. STOCK EXCHANGE RELEASE 25 October 2010, at 8.05
a.m.
Biotie Therapies Corp.'s share issue to the company itself without consideration
The Board of Directors of Biotie Therapies Corp. has, pursuant to the
authorization of the Annual General Meeting of Shareholders held on 15 April
2010, resolved on an issue of 17,251,371 shares to the Company itself without
consideration in accordance with chapter 9 section 20 of the Companies Act. The
shares issued are of the same class as the other shares in the Company.
After the share issue, the total number of shares in the Company will amount to
176,003,931, out of which the Company will hold 17,600,393 shares as treasury
shares.
The new shares will be registered with the trade register on or about 26 October
2010, after which the Company will file an application for entering the shares
into the book-entry system maintained by Euroclear Finland Ltd. After this, the
shares will be recorded on the book-entry account of the Company and the Company
will apply for the admission of the shares to public trading on the stock
exchange list of NASDAQ OMX Helsinki Ltd on or about 27 October 2010.
The Company issues the shares to itself for the purpose of having a sufficient
amount of treasury shares available to potentially sell such shares to YA Global
Master SPV Ltd. ("YA Global") pursuant to the terms of the Standby Equity
Distribution Agreement entered into by the Company and YA Global, a fund managed
by Yorkville Advisors, LLC, on 22 October 2009. No decision on such sale of the
now issued or existing treasury shares to YA Global has been made yet. If sold
to YA Global, the Company will use the proceeds from the sale of the shares to
secure financing of the Company's working capital in the short and medium term.
The entering into the Standby Equity Distribution Agreement and the main terms
thereof have been announced by Biotie through a stock exchange release on 23
October 2009 and the offer of the first tranche of shares to YA Global under the
arrangement has been announced through a stock exchange release on 26 August
2010.
In Turku, 25 October 2010
Biotie Therapies Corp.
Timo Veromaa, President and CEO
For further information, please contact:
Virve Nurmi, Biotie Therapies Corp.
tel. +358 2 274 8900, e-mail: virve.nurmi(at)biotie.com
www.biotie.com
Distribution:
NASDAQ OMX Helsinki Ltd
Main Media
[HUG#1454738]
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originality of the information contained therein.
Source: Biotie Therapies Oyj via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 25.10.2010 - 07:05 Uhr
Sprache: Deutsch
News-ID 46092
Anzahl Zeichen: 0
contact information:
Town:
Turku
Kategorie:
Business News
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