· Karo Pharma AB commences the previously announced voluntary cash offer to acquire Weifa ASA following the approval of the Offer document to the shareholders in Weifa ASA by the Oslo Stock Exchange (OSE).
· The Offer document, containing the complete terms and conditions of the Offer will be distributed to all shareholders listed in Weifa’s share register and will also be available at www.dnb.no/emisjoner and via www.weifa.com
· The Offer period starts on 11 September 2017 and expires at 16.30 CEST on 26 September 2017, subject to a possible extension with up to two more weeks.
KEY TERMS OF THE OFFER
· Cash offer at NOK 35,- per Weifa share valuing the total share capital of Weifa at approximately NOK 1.28 billion on a fully diluted basis.
· The Offer price represents a 10% premium to Weifa’s closing share price on 23 August 2017 and a 25% and 37% premium to the three-month and twelve-month volume weighted average stock price on 23 August 2017, the last trading day prior to the announcement of the Offer, respectively.
· Recommended by the Board of Directors of Weifa ASA.
· Shareholders representing more than 40% of the total shares in Weifa ASA are positive to the Offer and have given their pre-acceptance to it.
· Completion of the Offer is subject to a minimum acceptance of at least 90% of the shares on a fully diluted basis.
FOR FURTHER INFORMATION PLEASE CONTACT:
Peter Blom, CEO, 070-655 56 98 or firstname.lastname@example.org
ABOUT KARO PHARMA
Karo Pharma is a specialty pharma company that develops and markets products to pharmacies and directly to healthcare providers. The share is listed on Nasdaq Stockholm in the Mid Cap segment.
The information was submitted for publication, through the agency of the contact person set out above, on September 11, 2017 at 3.30 p.m. CET. This press release is also available on www.karopharma.se and www.newsroom.cision.com.
This news release contains certain forward-looking statements that are based on uncertainty, as they relate to events and depend on circumstances that will occur in the future and which, by their nature, may have an impact on results of operations and the financial condition of Karo Pharma and/or Weifa. Such forward-looking statements reflect our current expectations and are based on the information currently available. Neither Karo Pharma nor Weifa can give any assurance as to whether such forward looking statements will prove to be correct. These forward-looking statements include statements regarding the Offer, our expectations as to the launch of the Offer, including the terms of the Offer and expected timing, expected benefits of the Offer. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, among other things, satisfactions of conditions to the Offer and investor participation in the Offer.
The Offer will not be made in any jurisdiction in which making of the Offer would not be in compliance with the laws of such jurisdiction. This announcement does not in itself constitute an offer. The Offer will only be made on the basis of the Offer document and can only be accepted pursuant to the terms of such document.