Edition:
India

NTG Nordic Cancels Previously Announced Offering Of Shares


Monday, 7 Oct 2019 

Oct 7 (Reuters) - NTG Nordic A/S ::PREVIOUSLY ANNOUNCED OFFERING OF SHARES IS CANCELLED.NO SHARES WILL BE SOLD TO INVESTORS.INDICATIVE OFFER PRICE RANGE WAS SET TO DKK 71 - DKK 89.OFFERING WAS FULLY SUBSCRIBED BY INSTITUTIONAL INVESTORS AND MORE THAN 2,500 RETAIL INVESTORS WITHIN OFFER PRICE RANGE.SHAREHOLDERS OF NTG AND SHAREHOLDERS IN CERTAIN SUBSIDIARIES WILL RECEIVE 21,119,679 NEW SHARES OF NOMINALLY DKK 20 EACH IN NEUROSEARCH AT A SHARE PRICE OF DKK 89.HOWEVER, BASED ON NEUROSEARCH'S, NTG'S AND SELLING SHAREHOLDERS' DESIRE TO ACHIEVE A SUCCESSFUL OFFERING OF SHARES WITH AN ORDERLY AFTERMARKET, IT HAS BEEN DECIDED TO CANCEL OFFER OF SHARES.FOR NTG AS A COMPANY, CANCELLATION OF OFFERING WILL NOT HAVE A SIGNIFICANT IMPACT."TURMOIL IN FINANCIAL MARKETS IN RECENT WEEKS HAS MEANT THAT ORDERS FROM ABROAD HAS NOT LIVED UP TO EXPECTATIONS".PREVIOUSLY CONVENED EXTRAORDINARY GENERAL MEETING OF NEUROSEARCH TO ELECT NEW BOARD OF DIRECTORS, CHANGE COMPANY'S NAME TO "NTG NORDIC TRANSPORT GROUP A/S", ETC. WILL STILL BE HELD TODAY.