Brief: NeuroSearch announces main components of resolution plan
22/11/2016 10:53
Nov 22 (Reuters) - NeuroSearch A/S NEUR.CO :
* Sets resolution plan after Danish Supreme Court found co guilty of market manipulation
based on events occurring in H1 2010
* Says will scan market for potential buyers of NeuroSearch and underlying tax loss
* Will initiate process to identify any possibilities of divesting co's entitlement to
potential milestone payments
* Says Board of NsGene, in which NeuroSearch holds 26.8 pct stake, has advanced plans to
close down company at beginning of 2017; co may be entitled to receive small single-digit
million Danish crown amount in 2017
* Costs relating to 5 million Danish crown ($714,572) fine and legal expenses for recently
closed Supreme Court case will be incurred in 2016
* In 2016 expects operating loss in range of 4 million - 6 million crowns
* Intends to further above-mentioned initiatives during coming months and to present to
shareholders at 2017 AGM reasoned proposal for how to proceed with resolution of company
Source text for Eikon: ID:nCSE6F7V
Further company coverage: NEUR.CO
($1 = 6.9972 Danish crowns)
(Gdynia Newsroom)
((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))