The offering made by Pharmexa A/S (Pharmexa) with preemptive rights for thecompany's existing shareholders was completed on February 5, 2008. The numberof new shares with a nominal value of DKK 5 each subscribed in the offeringwas18,237,545. The new shares were subscribed at DKK 5 per share, so the grossproceeds to Pharmexa from the rights issue will be DKK 91.2 million, and thenet proceeds will be approximately DKK 80.2 million net of expenses related tothe offering.
The new shares will have the same rights as Pharmexa's existing shares and willbe eligible for dividends as from the date the capital increase is registeredwith the Danish Commerce and Companies Agency, which will take place today.
Following registration of the 18,237,545 new shares with a nominal value of DKK5 each, Pharmexa's nominal share capital is DKK 298,459,700 corresponding to59,691,940 shares with a nominal value of DKK 5 each.
It is expected that the new shares will be listed on the OMX Nordic ExchangeCopenhagen on Wednesday, February 6, 2008, under the securities code of theexisting shares, DK0015966592.
Danske Markets (division of Danske Bank A/S) has notified the company that nostabilization has taken place in relation to the preemptive rights issued byPharmexa.
As described in the offering circular dated January 9, 2008, given the size ofthe proceeds, Pharmexa's management will initiate specific investigations ofthe strategic alternatives available to the company. Any decision to sell,merge or otherwise substantially change Pharmexa's strategy will be based on athorough evaluation of the options with a view to protecting the assets of theshareholders in the best possible way.
Moreover, management expects to initiate a number of measures to best protectthe assets of the shareholders, including the introduction of cost-savinginitiatives and prioritizations in the project portfolio. Pharmexa's managementwill present a specific plan for these initiatives on February 18, 2008.
