The Board of Director’s decision to issue convertible loans

22 January 2024
Company Announcement no. 01

The Board of Directors in Phama Equity Group has decided to issue convertible loans in accordance with the authorisation in the company’s articles of association under article 4.3.A. The convertible loans allow Phama Equity Group to borrow up to DKK 8.914.795. The main terms of the convertible loans are:
 

• The loan is granted as subordinated loan capital and is therefore subordinated to the company’s other creditors, except for any other corresponding subordinated loan capital.
• The lenders right to convert the loan into shares in in the company may be exercised for a period of 30 days commencing 23 calendar months after the conclusion of the convertible loan (“the Exercise Period”).
• The loan bears interest of 3.25 % per quarter and remains without instalment until the expiry of the Exercise Period, after which the company must repay the loan including interest within 60 days, however, the company may extend the loan period by 12 months.
• The company may choose to pay the loan including interest in shares (conversion of the debt instrument).

Subject to conversion of the loans note to new shares, such new shares will be without pre-emption rights for the company’s existing shareholders and with the same rights as the company’s existing shares. The new shares will be admitted to trading on Nasdaq Copenhagen. The subscription rate of the conversion will be par rate, meaning that an amount of DKK 1.00 will be converted into one new share of DKK 1.00 in the company. The maximum increase of the share capital pursuant to the convertible loan is an amount of DKK 12.627.691.  

 
The remaining terms of the convertible loan will be set out in a convertible loan agreement and the Board of Director’s decision to issue the convertible loan will be included in full in the company’s articles of association. The company’s updated articles of association will be published on the website.

 
The Board of Directors will inform the market about the outcome of the subscription of the convertible debt.   

For further information, please contact:

Christian Vinding Thomsen, Chairman of the Board of Directors of Pharma Equity Group A/S, phone: +45 2622 7222

About Pharma Equity Group A/S

Pharma Equity Group, a listed company on the Nasdaq Copenhagen stock exchange, is fully dedicated to advancing the medical projects of its subsidiary, Reponex Pharmaceuticals A/S. With an unwavering focus on healthcare, Pharma Equity Group’s primary objective is to bring significant value to Reponex Pharmaceuticals’ medical projects.

The company is committed to providing extensive support, resources, and expertise to drive the development and success of these projects. As a strategic partner, Pharma Equity Group works closely with Reponex Pharmaceuticals, prioritizing the advancement of innovative medical solutions and breakthrough therapies. Every effort is currently directed towards ensuring the utmost success and impact of Reponex Pharmaceuticals’ medical projects, with an unwavering dedication to improving global healthcare outcomes. Only when the full potential of Reponex Pharmaceuticals has been unfolded is the intention to explore opportunities to invest in other companies. This approach ensures a strong commitment to the current medical projects and their development, while – on the longer term – remaining open to new strategic investments for continuous growth.