Sopharma

Today, on December, 6th 24.75m unused rights in Sopharma’s warrants issue were auctioned on the Bulgarian Stock Exchange (BSE) from 13:15h to 13:45h (local time). All the offered rights were sold at a price of BGN 0.01 each in 134 trades in the range of 14 -10 million rights per deal. Please recall that in May this year the Board of Directors (BoD) decided to issue up to 44.9m warrants with an exercise price of BGN 4.13 each and an issue price of BGN 0.28 each. 3 rights are needed for acquiring 1 warrant, which can be exercised within the next three years from the issue date.

During the trading period for rights in warrant issue that ended on 30th of November 110m (81.6% of the total outstanding rights) rights were subscribed for. Sopharma’s CEO and BoD Chairman, Ognyan Donev, purchased a total of 33.1m (26.6% of the issue) rights for company’s warrants issue directly or through associated firms (Donev Investment Holding). In addition, as a shareholder in Sopharma, Mr. Donev received 3.9m rights, while Donev Investment Holding received 36m rights. As a result, Ognyan Donev accumulated directly and indirectly a total of 58.6% of the outstanding rights for Sopharma’s warrants issue. Meanwhile, the other majority holder, Telso related to Ventzislav Stoev, received 4.6m rights and bought additional 21.4m rights totaling a 20.9% of the issue.

Sopharma’s total repurchased own shares reached 9.69% of the outstanding equity shares

On December, 1st Sopharma bought back 2.6m of its own shares at BGN 4.26 each (1.929% of share capital), followed by a repurchase of 143 533 own shares at BGN 4.40 each on December 3rd. With the latest trade, Sopharma virtually reached the limits for a buy-back in 2021. The company’s total repurchased shares currently stand at 13 055 000, or 9.685% of the equity capital.

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