NAVAMEDIC ASA: Minutes of Extraordinary General Meeting

05.08.2019 16:05:22

An Extraordinary General Meeting of Navamedic ASA (the "Company") was held today, on 5 August 2019, at the Company's offices in Oslo. The minutes from the Extraordinary General Meeting are attached hereto.

The general meeting adopted all the proposals on the agenda, including the approval of the joint demerger plan dated 19 June 2019 for the demerger of the Company as the transferring company with Observe Medical ASA as the acquiring company.

Subject to the satisfaction of the conditions precedent for the demerger, the demerger is expected to be completed and become effective in the end of October 2019 or the beginning of November 2019.

Upon completion of the demerger, the Company's share capital will be decreased from NOK 11,867,673 to NOK 8,782,078.02, by decreasing the nominal value of the Company's existing shares from NOK 1 to NOK 0.74. The Company's shareholders will receive newly issued shares in Observe Medical ASA as demerger consideration in the same ratio as they own shares in the Company when the demerger becomes effective (1:1). The listing of Observe Medical ASA's shares on Oslo Axess is a condition precedent for the demerger.

The Company will publish a stock exchange announcement when the demerger and the corresponding share capital decrease is registered with the Norwegian Register of Business Enterprises (Nw: Foretaksregisteret).

For further information, please contact:

Kathrine Gamborg Andreassen, CEO, Navamedic
Mobile: +47 951 78 860
E-mail: kathrine@navamedic.com

Toril Ås, CFO, Navamedic
Mobile: +47 957 01 071
E-mail: toril.as@navamedic.com

Navamedic ASA, established in 2002, provides a state-of-the-art market access platform for delivering pharmaceutical products to patients, hospitals and pharmacies in the Nordics. The company is also introducing Sippi®, a new system for digital urine measurement, to the global markets. Navamedic is headquartered in Oslo, Norway, and listed on the Oslo Stock Exchange (ticker: NAVA).

EGF Navamedic ASA 05 08 2019