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Aerocrine AB Divests Shares in Aerocrine Europe to Mr. Morten Gunvad

Monday, 21 Oct 2013 11:35am EDT 

Aerocrine AB announced that the Extraordinary General Meeting of the Company resolved on October 21, 2013 to approve that Aerocrine divests the shares in Aerocrine Europe GmbH to Mr. Morten Gunvad (the Buyer). Aerocrine Europe is a wholly-owned Swiss subsidiary of Aerocrine and conducts limited administrative operations for Aerocrine’s account. The Buyer is, up until October 31, 2013, Vice President Commercial Operations EU & ROW of the Aerocrine group as well as Managing Director of Aerocrine Europe. At the time of the share transfer the Company will basically be an empty shell, and therefore the purchase price will be CHF 20,000 (approximately SEK 140,000), which corresponds to the share capital of Aerocrine Europe. The transfer will be conditional on it being essentially cost neutral to Aerocrine. A sale of the Company therefore is not in itself expected to affect Aerocrine’s financial position. Aerocrine is in the process of forming a new subsidiary in Switzerland to maintain operations and for potential IP purposes. 

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