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NorDiag ASA - Result of rights issue.
(From Hugin)
With reference to stock exchange notice of 16 January 2009, regarding subscription period and the prospectus related to the rights issue.
As previously communicated, NorDiag has offered a minimum of 50,000,000 and a maximum 120,234,510 new shares at a subscription price of NOK 0.50 in a public offering with pre-emptive rights for the company's shareholders as of 19 December 2008. Together with new shares, the subscribers have been invited to subscribe for warrants in NorDiag.
Results of the rights issue: After the close of the subscription period Friday 30 January 2009, a total of 67,214,127 shares has been subscribed for, of which 50,000,000 were subscribed for under the underwriting syndicate.
Consequently, the share capital of NorDiag will increase from NOK 5,343,755.90 to NOK 12,065,168.60, divided between a total of 120,651,686 outstanding shares with a nominal value of NOK 0.10. A letter with details on allotment will be sent to all subscribers today.
CEO Marten Wigstol is satisfied with the result of the rights issue in view of the current economic climate: "The timing has not been the best for this rights issue, but nevertheless it has been a successful capital increase; with Orion Securities as manager. Subscriptions totalled NOK 33.6 million worth of shares, and we regard the high number of investors behind the subscriptions as a positive signal.
The capital injection provides us with sufficient liquidity to continue our international commercialization. Our focus is on continuing the healthy growth trend from Q4-08, and solid results will sooner or later have a positive effect on our share price, which might make it attractive to exercise warrants, hence give us a further effect of this rights issue", he concludes.
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