February 7, 2017 / 6:20 AM / 8 months ago

BRIEF-Karolinska Development offers set-off share issue to convertible holders

Feb 7 (Reuters) - Karolinska Development AB :

* Said on Monday will present a proposal to shareholders to approve its decision on a new issue of B-shares to the convertible holders offering the convertible holders to “set-off” their convertibles as payment for new B-shares

* Concluded that reducing the convertible debt will lead to a strengthening of the company’s equity position and ensuring that its current cash resources can be used to invest in new portfolio companies

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