Issue and repurchase of class C shares
Cinclus Pharma Holding AB (publ) announces that the company has resolved to issue and immediately thereafter repurchase 854,430 class C shares. The shares are issued and repurchased in accordance with the long-term incentive programmes, PSP 2024/2027 and ESOP 2024/2027, which were adopted by the extraordinary general meeting on 3 June 2024. The size of the share issue has been determined with account taken to Cinclus Pharma’s total need for share delivery under the company’s long-term incentive programmes hedged with class C shares.
Handelsbanken subscribes for the entire issue of new class C shares at a subscription price of approximately SEK 0.019414 per share, equal to the quota value of the shares. The entire issue of class C shares will thereafter be repurchased by Cinclus Pharma for the same price per share.
The purpose of the share issue is to enable the future delivery of ordinary shares to participants in PSP 2024/2027 and ESOP 2024/2027. The class C shares will be converted into ordinary shares prior to delivery to qualifying participants in PSP 2024/2027 and ESOP 2024/2027. The class C shares do not entitle to dividends.