The Company's intention is that the terms of the new convertibles, with market term adjustments, principally shall correspond to the terms of the convertibles issued in 2016, which matures 14 April 2017. The conversion rate will be determined in connection with the issue resolution around 14 April 2017. The Board of Directors intend to ensure that the terms of the convertible instruments corresponds to fair market standards by means of a book building process. The Company intends to issue 28 new convertibles each with a nominal value of SEK 1 million per convertible, which means that the total nominal value correspond to that of the convertible loan 2016:1. The new convertibles is intended to be paid for primarily by means of partial set-off of claims on the Company relating to convertibles 2016:1, where the nominal value will be set-off but accrued interest will be settled in cash by the Company, and secondly by means of cash payment.
The new issue are subject to a resolution by the Board of Directors of Oasmia, pursuant to the authorisation granted by the Annual General Meeting held on 26 September 2016, to issue new convertible instruments. The reason for the intended deviation from the shareholders' preferential rights by a directed issue is the opinion of the Board of Directors that it is appropriate to enable for current convertible holders to reinvest in Oasmia on fair market terms and that it thereby is possible for the Company to issue a new convertible loan if needed to a limited group of investors, in significantly shorter time and to significantly lower costs than if these are directed to and placed with current shareholders.
About Oasmia Pharmaceutical AB
Oasmia Pharmaceutical AB develops, manufactures, markets and sells new generations of drugs in the field of human and veterinary oncology. The company's product development aims to create and manufacture novel nanoparticle formulations and drug-delivery systems based on well-established cytostatics which, in comparison with current alternatives, show improved properties, reduced side-effects, and expanded applications. The company's product development is based on its proprietary in-house research and company patents. Oasmia is listed on NASDAQ Capital Markets (OASM.US), Frankfurt Stock Exchange (OMAX.GR, ISIN SE0000722365) and NASDAQ Stockholm (OASM.ST).
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For more information, please contact: Julian Aleksov, Executive Chairman Tel: +4618 - 50 54 40 E-mail: email@example.com