Hansa Biopharma: Issuance and re-purchase of new class C shares for LTIP 2019

Hansa Biopharma

An announcement was made today by Hansa BioPharma, which has excelled in immunomodulatory enzyme technology for the unusual IgG-mediated diseases, that after the authorization by the yearly general meeting held on 22nd of May, 2019, Hansa Pharma’s board of directors has resolved for the issuance, as well as, immediate subsequent re-purchase of shares of 715,910 class C. The issuance of the shares, as well as, their re-purchase is being done in accordance with the LTIP 2019, which is an incentive program and was adopted at the meeting which was held on 22nd of May.

Carnegie Investment Bank AB (publ) will be subscribing for the complete issue of novel class C shares. The price of the subscription will be SEK 1 per share, which would correspond to the share’s quota value. Thereafter, the complete issue of class C shares will be in line with the resolution of the board of directors and will be re-purchased by Hansa Biopharma for the exact same price. There will be a conversion of the Class C shares into ordinary shares before the delivery of qualifying participants of the incentive program.

The main aim behind the re-purchase is to make sure that shares are delivered to the participants and to also for securing the likely social charges which would arise as an outcome of the LTIP 2019. The new class C shares will not be entitled to the dividends. Each share will be entitled to one-by-tenth of the voting right. Prior to this, Hansa Biopharma issued 705,547 class C shares.

Hansa Biopharma is based in Sweden and is also listed on Nasdaq Stockholm. The firm is well-known for its strong pipeline of pre-clinical projects which might be a source of provision of the 2nd wave of potential drugs.