Business
Bioretec Ltd adjusts the terms and conditions of its stock option programs due to the completed rights issue
Bioretec Ltd Company announcement 27 June 2025 at 8.00 am EEST
About this update from Bioretec Ltd.
[{"type":"text","content":"TAMPERE, Finland, June 27, 2025 /PRNewswire/ -- Bioretec Ltd Company announcement 27 June 2025 at 8.00 am EEST","length":120,"tagName":"p"},{"type":"text","content":"As previously announced, Bioretec Ltd ("Bioretec" or the "Company") has completed a rights issue (the "Offering"), in which a total of 6,156,618 new shares of the Company were subscribed for. The new shares subscribed for in the Offering have been registered with the trade register maintained by the Finnish Patent and Registration Office on 26 June 2025.","length":386,"tagName":"p"},{"type":"text","content":"Under the terms and conditions of the Company's existing stock option programs, if Bioretec resolves, prior to the share subscriptions under each option program taking place, to issue new shares in accordance with the pre-emptive right of the shareholders, the holders of option rights shall be treated equally with the shareholders of the Company. Under the terms and conditions of the Company's existing stock option programs, the equal treatment shall be provided as determined by the Board of Directors, either by adjusting the number of shares to be issued or the subscription price of the shares to be issued or both. In order to ensure the equal treatment of the holders of option rights, the Board of Directors of the Company has resolved to adjust the subscription prices of the Company's new shares under the Company's existing stock option programs to account for the dilutive effect of the Offering.","length":927,"tagName":"p"},{"type":"text","content":"The adjusted subscription prices are as follows:","length":48,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;","val":[{"type":"text","content":"Stock option program","length":20,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;","val":[{"type":"text","content":"Prior subscription price (EUR)","length":30,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;","val":[{"type":"text","content":"New subscription price (EUR)","length":28,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1"...