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Provider: Reuters Investment Profile
Provider: Wright Reports
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Provider: Sadif Analytics Prime

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Genovis AB to Carry Out Rights Issue

Monday, 4 Nov 2013 05:34am EST 

Genovis AB announced that funding of approximately SEK 10 million is needed to achieve a positive cash flow in 2014 from parent company operations. That is why Genovis’ Board of Directors, subject to resolution by the Extraordinary General Meeting on November 19, resolved to carry out a rights issue to existing shareholders in which three (3) existing shares entitle the holder to subscribe for one (1) issued share at a price of SEK 4.50 per share. As a result of this decision share capital could increase by a maximum of SEK 2,104,100.80 through the issuance of up to 5,260,252 shares. Following the completed rights issue, share capital will amount to a maximum of SEK 8,416,403.60 and the number of shares to 21,041,009. The Company will raise about SEK 23.7 million before issue expenses, which are expected to be SEK 1 million. The issue will have a dilutive effect of 25% on the holdings of those who do not subscribe to the rights issue for their full stake. 

Company Quote

26 Nov 2014