Brief: Aqua Bio Technology Says Received Binding Pre-Commitments To Subscribe For 4.61 Mln New Shares

Aqua Bio Technology ASA

04/12/2018 23:39

Dec 4 (Reuters) - Aqua Bio Technology ASA  ATBT.OL :
    * PRIVATE PLACEMENT - CHANGES IN MANAGEMENT TEAM
    * SAYS  BOARD OF DIRECTORS OF COMPANY WILL ALSO PROPOSE A
REPAIR
ISSUE.
    * SAYS GOING FORWARD, CURRENT CEO ARVID LINDBERG WILL
FUNCTION AS
HEAD OF SALES AND MARKETING
    * AQUA BIO TECHNOLOGY -HEAD OF SALES AND MARKETING AND ESPEN
KVALE
WILL FUNCTION AS INTERIM CEO THROUGH CONSULTANCY AGREEMENT WITH
ESPEN KVALE CONSULTING LLC
    * AQUA BIO  -RECEIVED BINDING PRE-COMMITMENTS TO SUBSCRIBE
FOR
4.61 MILLION NEW SHARES
    * NEW SHARES FOR GROSS PROCEEDS OF NOK 11.525 MILLION IN
CONDITIONAL PRIVATE PLACEMENT OF MIN NOK 10.5 MILLION AND MAX
NOK 15 MILLION
    * SAYS SUBSCRIPTION PRICE IN PRIVATE PLACEMENT HAS BEEN SET
TO NOK
2.50 PER NEW SHARE
    * AQUA BIO TECHNOLOGY -  BOARD WILL PROPOSE TO CARRY OUT A
SHARE
CAPITAL REDUCTION IN ORDER TO REDUCE PAR VALUE OF COMPANY'S
SHARES TO NOK 2.50.

Source text for Eikon:  ID:nGNE56Y4M7 
Further company coverage:  ATBT.OL 

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