21: Cash issue, private placement cancelled, the company in an economically critical state
November 05 2012
Announcement no. 21
Cash issue, private placement cancelled, the company in an economically critical state
On August 23, 2012, the Board of BioPorto decided to partially exercise the authorization under article 16b of the Company Articles to carry out a cash issue, private placement to a limited number of investors. During the subscription period, the company received binding acceptance of subscription from Marienholm Ejendomme ApS and mr. Mark Szigethy.
BioPorto must inform that none of the subscribers have paid the full outstanding subscription amount. Today, the Board has therefore been forced to cancel the issue, and in relation to this Marienholm Ejendomme ApS and mr. Mark Szigethy will be met with claims.
The cancellation of the issue leaves BioPorto in an economically critical state. On September 30, 2012, the company’s cash resources amounted to DKK 2.2 million, why capital resources need to be restored as soon as possible. In effect of the cancellation of the issue, the Board examines the possibilities for this.
The enclosed annex includes a preliminary statement of the company’s financial position as of September 30, 2012. The publishing of the interim financial report for Q3 will be brought forward to November 12, 1012.