· Following final registration of acceptances, the final acceptance level in Karo Pharma AB’s (“Karo Pharma”) voluntary offer (“Voluntary Offer”) to acquire all shares in Weifa ASA (“Weifa”) is 35,463,139 shares representing 97.23% of the total shares in Weifa on a fully diluted basis.
· It is expected that the settlement of the Voluntary Offer will take place on or about 6 October 2017 and that the cash consideration will be available on the accepting Weifa shareholders’ registered bank accounts in the VPS on or about 9 October 2017.
· Upon settlement of the Voluntary Offer, Karo Pharma will hold more than 90% of all the shares in Weifa. Karo Pharma intends to initiate a compulsory acquisition of the remaining outstanding shares of Weifa at a price equal to the offer price of NOK 35 per share, and to propose that Weifa applies for a delisting of its shares from Oslo Børs.
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ABOUT KARO PHARMA
Karo Pharma is a specialty pharma company that develops and markets products to pharma-cies and directly to healthcare providers. The share is listed on Nasdaq Stockholm in the Mid Cap segment.
The information in this report is such that Karo Pharma is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act.
The information was submitted for publication, through the agency of the contact person set out above, on October 5, 2017 at 17.00 CET. This press release is also available on 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 based on the Offer document and can only be accepted pursuant to the terms of such document.