Biolin Medical holds new shares issue

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Biolin Medical has strengthened its financial position through a decision by its board of directors to carry out a preferential rights issue. The issue will be carried out on the terms that the three existing shares in Biolin, including the newly-issued shares to acquire Q-Sense (Page 26), will be entitled to the right to subscribe to one new share at a price of Skr 2.6. The issue will then include 5.8m shares and will raise Skr 15.1m before costs. Through commitments from larger shareholders to subscribe to shares with preferential rights and a guarantee amounting to Skr 12.5m, the issue will be fully subscribed. In addition to this each subscribed share entitles shareholders to one subscription right, maturing on 31 May 2004, with the right to subscribe to one new share at a price of Skr 3. This may include up to 10.6m new shares in Biolin and raise another Skr 31.9m. In total Biolin may thereby raise a maximum of Skr 47m before costs. All decisions are subject to approval at an extraordinary shareholders meeting, to be held on 6 October. Shareholders holding more than 30% of the outstanding shares in Biolin have declared that they will vote in favour of the proposal. The preliminary subscription period is estimated to run between 15 October and 5 November 2003