Decision to suggest new share issuing and change of company name to Biotech-IgG AB

The board has decided to call the shareholder to an extra general meeting March 17, 2011 to suggest to the meeting of increasing the share capital through a new share issuing with subscription rights to the shareholders and to change the company name to Biotech-IgG AB. The issuing settlement will be used to finance and secure the group marketing and production operations until the sales start generating a positive cash flow.

The board suggests that the share capital is increased with at most 5 184 286 SEK and the number of shares with at most 5 184 286 shares of series B with a quota value of 1:00 SEK. The total settlement of the issuing amounts to at most 5.18 MSEK. At fully subscribed share issue the newly issued shares of series B will represent 33 % of votes and capital.

For two old shares of series B the shareholders of the company shall have the right to subscribe for one new share of series B. If not all shares of series B with subscription right are subscribed for, subscription without subscription rights shall be possible within the limit of the highest amount of the new share issue. The record day for settling of shareholders with subscription rights shall be March 25, 2011.

Subscription of new shares of series B shall take place during the period from April 4, 2011 to and with April 18, 2011. The board shall have the right to extend the subscription period. Further information regarding the new share issuing will be given in the prospectus that the company will publish in connection to the new share issue.

The decision requires that the limits of the share capital in the articles of association §4 is increased to lowest 5 000 000 SEK and to highest 20 000 000 SEK.

The board also suggests to the extra shareholders meeting to decide to change the name of the company in §1 of the articles of association to Biotech-IgG AB. The purpose of the change of the name is to clarify the new marketing and technology focus of the company toward a customer group that work with production, development and analysis of proteins, mainly antibodies.

Chemel AB, Scheelevägen 19F:2, 223 70 LUND, tel +46 -(0)46-286 45 00, fax +46(0)046-286 45 45, web www.chemel.com, mail info@chemel.com.                                                    

CEO and contact person: Dr Margareta Krook                                                         Chairman: Doc Dario Kriz

Back to news