Insiders to invest NOK 400,000 in company via loan due Dec. 31, 2012
By Devika Patel
Knoxville, Tenn., Nov. 8 - Aqua Bio Technology ASA said it will raise between NOK 7 million and NOK 15 million through a convertible loan due Dec. 31, 2012.
The loan may be converted into shares at NOK 6.00 per share.
Chief executive officer Arvid Lindberg will invest NOK 100,000, chairman of the board John Afseth will invest NOK 250,000 and board member Tone Bjørnov will invest NOK 50,000.
The Sandefjord, Norway, company develops and markets patented ingredients and technology to the international cosmetics and skin care industry.
| Issuer: | Aqua Bio Technology ASA
|
| Issue: | Convertible loan
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| Amount: | NOK 7 million (minimum), NOK 15 million (maximum)
|
| Maturity: | Dec. 31, 2012
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| Conversion price: | NOK 6.00
|
| Warrants: | No
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| Investors: | Arvid Lindberg (for NOK 100,000), John Afseth (for NOK 250,000), Tone Bjørnov (for NOK 50,000)
|
| Pricing date: | Nov. 8
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| Stock symbol: | Oslo: ATB
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