STOCKHOLM, Nov. 10, 2022 /PRNewswire/ -- The Board of Directors of Karo Pharma Aktiebolag ("Karo Pharma" or the "Company") has resolved to apply for de-listing of the Company's shares from Nasdaq First North Growth Market following that Karo Intressenter AB[1] ("Karo Intressenter") controls more than 90 percent of the shares in Karo Pharma and has initiated compulsory redemption of the remaining shares in the Company.
On 16 August 2022, Karo Intressenter announced a public cash offer to the shareholders in Karo Pharma to acquire the shares in Karo Pharma not already held by Karo Intressenter at a price of SEK 60 per share (the "Offer"). On 19 September 2022, Karo Intressenter declared the Offer unconditional and completed the Offer. On 1 November 2022, Karo Intressenter announced the outcome of the Offer for the second extended acceptance period and that Karo Intressenter, at the time of the publication of the announcement, controlled in total approximately 96.8 percent of the total number of shares and votes in Karo Pharma. At the same time, Karo Intressenter announced that the acceptance period was extended until 18 November 2022 and that the acceptance period will not be extended further thereafter. Karo Intressenter has initiated compulsory redemption of the remaining shares in Karo Pharma.
In light of the above, and in accordance with Karo Intressenter's request, the Board of Directors of Karo Pharma has resolved to apply for de-listing of the Company's shares from Nasdaq First North Growth Market. The last day of trading in Karo Pharma's shares on Nasdaq First North Growth Market will be announced as soon as Karo Pharma has received confirmation thereof from Nasdaq.
For further information, please contact:
Christoffer Lorenzen, CEO, +46 73-501 76 20, christoffer.lorenzen@karopharma.com
Jon Johnsson, CFO, +46 73-507 88 61, jon.johnsson@karopharma.com
The information was submitted for publication by the contact persons set out above, at 14:00 CET on 10 November 2022.
About Karo Pharma
Karo Pharma offers "Smart choices for everyday healthcare". We own and commercialize reliable original brands within prescription drugs and over-the-counter consumer products. Our products are available in over 90 countries with the core in Europe and the Nordics region. The headquarter of Karo Pharma is in Stockholm and the company is listed on Nasdaq First North Growth Market.
Certified Adviser
Erik Penser Bank AB is the Karo Pharma's Certified Adviser. Contact information: Erik Penser Bank AB, Box 7405, 103 91 Stockholm, Sweden, phone: +46 (0)8-463 80 00, email: certifiedadviser@penser.se.
[1] A Swedish private limited liability company (Sw. privat aktiebolag) controlled by EQT VIII, registered with the Swedish Companies Registration Office with corporate registration number 559160-9416.
The following files are available for download:
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