Business
The Finnish Financial Supervisory Authority has granted Stephen Industries Inc Oy and Kustaa Poutiainen a permanent exemption from the obligation to launch a mandatory public takeover bid
Bioretec Ltd ("Bioretec" or the "Company") has announced on 10 March 2026 that it is planning a rights issue based on the shareholders' pre-emptive subscription right (the "Offering").
About this update from Bioretec Ltd.
[{"type":"text","content":"NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA, JAPAN, NEW ZEALAND, SINGAPORE, SOUTH AFRICA OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.","length":351,"tagName":"p"},{"type":"text","content":"HELSINKI, March 26, 2026 /PRNewswire/ -- Bioretec Ltd ("Bioretec" or the "Company") has announced on 10 March 2026 that it is planning a rights issue based on the shareholders' pre-emptive subscription right (the "Offering").","length":259,"tagName":"p"},{"type":"text","content":"Bioretec has previously announced that it has, subject to certain conditions, received an advance commitment from Stephen Industries Inc Oy to subscribe for new shares in the Offering on the basis of all subscription rights to be recorded to it (the "Subscription Commitment"). In addition, Stephen Industries Inc Oy has, subject to certain conditions, provided an underwriting commitment for the Offering, pursuant to which Stephen Industries Inc Oy will subscribe for any and all new shares not otherwise subscribed and paid for pursuant to the subscription rights or in the secondary subscription for an aggregate amount of up to EUR 5 million, which amount shall include Stephen Industries Inc Oy's aggregate subscriptions under the Subscription Commitment and any and all new shares subscribed by it in the primary and secondary subscription (the "Underwriting Commitment"). Stephen Industries Inc Oy is a company controlled by the Chair of the Board of Directors of the Company, Kustaa Poutiainen. No fee will be paid to Stephen Industries Inc Oy for the Subscription Commitment. The Company will pay Stephen Industries Inc Oy a fee of approximately 7.5 per cent for the Underwriting Commitment. The fee will be based on the full aggregated amount of the Underwriting Commitment and it will be due and payable in the form of the Company's shares in connection with the completion of the Offering, provided that the Offering will be completed.","length":1476,"tagName":"p"},{"type":"text","content":"The Subscription Commitment and the Underwriting Commitment given by Stephen Industries Inc Oy in respect of the Of...