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Photocure ASA Oslo, 10 June 2008 - PCI Biotech Holding ASA, the Norwegian drug delivery company with a focus on cancer therapeutics, today announced the successful closing of its initial public offering in connection with the listing of the PCI Biotech Holding ASA shares on Oslo Axess (the Share Issue). The offering price was NOK 20 per share. Gross proceeds amounted to NOK 60 million (Approximately USD 11.9 million). PCI Biotech Holding ASA shares are expected to begin trading on the Oslo Axess (ticker: PCIB) on Wednesday 18 June 2008.
A total of 3,000,000 new shares, each of par value NOK 3, have been subscribed in the Share Issue. The shares are mainly subscribed for by underwriters of the Share Issue. The capital increase following from the Share Issue is expected to be registered in the Norwegian Register of Business Enterprises simultaneously with completion of the demerger of Photocure ASA with PCI Biotech Holding ASA as the acquiring company (the Demerger). The issued share capital of PCI Biotech Holding ASA at the time of listing on Oslo Axess will be NOK16,249,170, equaling 5,416,390 shares of NOK 3 par value. Fondsfinans ASA acted as Lead Manager for the Share Issue.
Photcure ASA has subscribed 1,078,000 shares in the Share Issue. Photocure ASA is represented at the board of PCI Biotech Holding ASA. Photocure ASA will upon completion of the Demerger pass the disclosure threshold of 15 % in PCI Biotech Holding ASA and own 1,078,000 shares in PCI Biotech Holding ASA, equaling 19.9 % of the shares and votes in the company.
Gezina AS has subscribed 150,000 shares in the Share Issue. Gezina AS is represented at the board of Photocure ASA. Gezina AS will upon completion of the Demerger pass the disclosure threshold of 5 % in PCI Biotech Holding ASA and own 282,631 shares in PCI Biotech Holding ASA, equaling 5.22 % of the shares and votes in the company.
Petrus Holding AS has subscribed 22,500 shares in the Shares Issue. Petrus Holding AS is controlled by Jon Hindar which is board member in Photocure ASA. Petrus Holding AS will upon completion of the Demerger own 22,500 shares in PCI Biotech Holding ASA.
Per Walday has subscribed 10,000 shares in the Share Issue. Per Walday is CEO of PCI Biotech Holding ASA. Per Walday will upon completion of the Demerger own 10,000 shares in PCI Biotech Holding ASA. Walday also holds an option to subscribe for 120,000 shares in the company.
Theresa Comiskey Olsen has subscribed 5,000 shares in the Share Issue. Theresa Comiskey Olsen is board member in PCI Biotech Holding ASA from listing of the company on Oslo Axess. Theresa Comiskey Olsen will upon completion of the Demerger own 5,000 shares in PCI Biotech Holding ASA.
Close associates to Kjetil Tasken have subscribed 650 shares in the Share Issue. Kjetil Tasken is board member in PCI Biotech Holding ASA from listing of the company on Oslo Axess. Kjetil Tasken and close associates will upon completion of the Demerger own 650 shares in PCI Biotech Holding ASA.
Kjetil Hestdal, Chairman of the Board of PCI Biotech Holding ASA, said: "We are delighted to have successfully closed this offering in PCI Biotech Holding ASA." Per Walday CEO of PCI Biotech Holding ASA, said: "With our lead project combining our patented compound Amphinex with the cytoxic agent Bleomycin about to enter Phase 1 trials, this is an exciting time for PCI Biotech Holding ASA. We have already shown proof of principle for our light directed delivery technology for a variety of compounds and this is the next step. The backing we have received from both existing and new investors gives us the resources to move forward and progress our planned development pipeline."
