Disclosure under Chapter 9, Section 5 of the Finnish Securities Markets Act

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BIOTIE THERAPIES CORP.             STOCK EXCHANGE RELEASE       April 14, 2016 at 11.15 p.m.

Disclosure under Chapter 9, Section 5 of the Finnish Securities Markets Act

Biotie Therapies Corp. (Nasdaq Helsinki BTH1V; NASDAQ: BITI) ("Biotie" or the "Company") has on April 14, 2016 received a notification in accordance with Chapter 9, Section 5 of the Finnish Securities Markets Act ("SMA") from Acorda Therapeutics, Inc. ACOR ("Acorda").

According to the notification, the total number of Biotie shares and voting rights owned through shares, ADSs and financial instruments by Acorda was 105.93 per cent of Biotie's total number of shares and voting rights on April 14, 2016. According to the notification, in accordance with the SMA and the guidelines issued by the Finnish Financial Supervisory Authority, the notified ownership percentages presented in the notification have been calculated against the current total number of shares and votes published by Biotie being 1,089,608,083 (which includes the treasury shares held by Biotie) and not taking into account the fact that also new shares could be issued based on the warrants, option rights and share rights, thus leading to an ownership percentage exceeding 100 percent of the shares and votes in Biotie.

According to the final results of the tender offer announced by Acorda on 13 April 2016, excluding the treasury shares held by Biotie, the shares and ADSs tendered in the tender offer represent approximately 92.38% of the shares and votes in Biotie, and by exercising the warrants, option rights and share rights tendered for the subscription of Biotie shares, Acorda could increase its holding to approximately 93.91% of the shares and votes in Biotie (again excluding the treasury shares held by Biotie and taking into account the fact that also new shares could be issued based on the warrants, option rights and share rights).

Total positions of Acorda subject to the notification:

  % of shares and voting rights (total of A) % of shares and voting rights through financial instruments (total of B) Total of both in % (A + B)
Resulting situation on the date on which threshold was crossed or reached 83.16 22.77 105.93
Position of previous notification (if applicable) N/A 105.92 105.92

Notified details of the resulting situation on the date on which the threshold was crossed or reached:

A: Shares and voting rights

Class/type of shares
ISIN code (if possible)
Number of shares and voting rights % of shares and voting rights
Direct
(SMA 9:5)
Indirect
(SMA 9:6 and 9:7)
Direct
(SMA 9:5)
Indirect
(SMA 9:6 and 9:7)
Shares
(FI0009011571)
656,484,443 - 60.25 -
American
Depositary Shares
(ADS),
each representing
80 Shares
(FI0009011571)
249,643,280 - 22.91 -
SUBTOTAL A 906,127,723 83.16

B: Financial instruments according to SMA 9:6a

Type of financial instrument Expiration date Exercise/
Conversion period
Physical or cash settlement Number of shares and voting rights % of shares and voting rights
Warrants entitling
to subscribe for
Shares
(FI0009011571)
Nov 1, 2020 Nov 1, 2015 -
Nov 1, 2020
Physical settlement

 
220,400,001 20.23
2011 option rights
entitling to
subscribe for
Shares
(FI0009011571)
Feb 28, 2017 Jan 1, 2016 - Feb
28, 2017
Physical
settlement
435,000 0.04
2014 option rights
entitling to
subscribe for
Shares
(FI0009011571)
Depending on
the option series
Feb 28, 2017;
Feb 28, 2018;
or Feb 28, 2019
Depending on the
option series
Jan 1, 2016 - Feb
28, 2017; Jan 1,
2017 - Feb 28,
2018; or Jan 1,
2018 - Feb 28,
2019
Physical
settlement
7,160,125 0.66
2016 option rights
entitling to
subscribe for
Shares
(FI0009011571)
Jan 1, 2026 Jan 1, 2017 - Jan
1, 2026
Physical
settlement
12,401,120 1.14
Swiss option
rights entitling to
subscribe for
Shares
(FI0009011571)
Depending on
the grant date of
the option
June 18, 2018;
Sep 15, 2018;
Jan 23, 2019;
March 11, 2020
or Dec 7, 2020
Depending on the
grant date of the
option
June 18, 2008 -
June 18, 2018; Sep 15, 2008 -
Sep 15, 2018;
Jan 23, 2009 -
Jan 23, 2019;
March 11, 2010 -
March 11, 2020 or
Dec 7, 2010 -
Dec 7, 2020
Physical
settlement
1,949,116 0.18
2011 share rights
entitling to Shares
(FI0009011571)
February 29,
2016, subject to
extension by the
Biotie board in
accordance with
the terms and
conditions of the
2011 share
rights
Jan 6, 2016 - Feb
29, 2016, subject
to extension by
the Biotie board in
accordance with
the terms and
conditions of the
2011 share rights
Physical
settlement
25,000 0.00
2014 share rights
entitling to Shares
(FI0009011571)
Depending on
the tranche
Feb 29, 2016;
Feb 28, 2017 or
Feb 28, 2018,
subject to
extension by the
Biotie board in
accordance with
the terms and
conditions of the
2014 share
rights
Depending on the
tranche Jan 5,
2016 - Feb 29,
2016; Jan 5, 2017
- Feb 28, 2017;
Jan 5, 2018 - Feb
28, 2018, subject
to extension by
the Biotie board in
accordance with
the terms and
conditions of the
2014 share rights
Physical
settlement
5,652,188 0.52
      SUBTOTAL B 248,022,550 22.77

The person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.

The completion trades for the shares and other equity interests than the ADSs tendered into Acorda public tender offer for all the equity interests in Biotie have been executed on 14 April 2016, and the completion trades for the ADSs will be executed on 18 April 2016. All the completion trades will be settled on or about 18 April 2016, whereby the title to the equity interests tendered into the tender offer will pass to Acorda.

Additionally, according to the notification, the warrants, option rights and share rights tendered into the tender offer entitle their holder to subscribe either existing treasury shares held by Biotie (or its subsidiaries) or new shares issued by Biotie. Based on the information published by Biotie, Biotie currently holds 108,686,288 treasury shares.

In Turku, April 14, 2016

Biotie Therapies Corp.

Timo Veromaa
President and CEO

For further information, please contact:

Virve Nurmi, Investor Relations Manager, Biotie Therapies Corp.
tel. +358 2 274 8900, e-mail: virve.nurmi@biotie.com

DISTRIBUTION:

Nasdaq Helsinki Ltd
Main Media
www.biotie.com




This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Biotie Therapies Oyj via Globenewswire

HUG#2003825
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