On expiration of the offer period on 3 October, 2017 at 16:30 CEST, Karo Pharma AB ("Karo Pharma") had received acceptances for the voluntary offer ("Voluntary Offer") to acquire all shares in Weifa ASA ("Weifa") for a total of 35 414 529 shares representing approximately 97,1% of the total shares in Weifa on a fully diluted basis. The acceptance level is based on preliminary numbers and may be subject to adjustments.
Accordingly, the conditions for completion of the Voluntary Offer have been met and in accordance with the terms and conditions set out in the offer document, settlement according to the Voluntary Offer will take place as soon as possible and within 12 October 2017.
"We are very pleased to have reached a high acceptance level of more than 95% of the shares in Weifa ASA. This is a very important step in creating a profitable and dynamic Speciality Pharma company out of the Nordics. The synergy potential is obvious", says Anders Lönner, Chairman of the Board of Karo Pharma AB.
Following settlement of the Voluntary Offer, Karo Pharma intends to initiate a compulsory acquisition of the remaining outstanding shares of Weifa in accordance with applicable laws, and to propose that Weifa applies for a delisting of its shares from Oslo Børs.
For further information, please contact:
Peter Blom, CEO of Karo Pharma, +46 070-655 56 98 or peter.blom@karopharma.se
Simen Nyberg-Hansen, CFO of Weifa: +47 9820 6355, or simen.nyberg-hansen@weifa.no