Jeg har hatt tro på metforminvirksomheten, med eller uten ny kapasitet, som var gjeldfri med 5 kroner pr. aksje i cash og tjente 1 krone pr aksje i fjor. Kunne blitt en utbyttemaskin. Nå er det vanskelig å si. Utbytte for 2017 er avlyst. Kraftig utvanning i emisjonen, men det loves reparasjon.

Kortsiktig vil det stå og falle på om markedet tror på Spetalen og den nye forretningsideen og tolker meldingene i ettermiddag positivt. Sannsynligvis ja. I hvert fall hvis emisjonen blir vellykket. Da kan vi se en pen oppgang i morgen, og mulighet for exit.

Emisjonen var vellykket!

Selskapet melder:
The Board of Directors of Vistin Pharma is pleased to announce that the private placement has been successfully completed, raising NOK 300 million in gross proceeds through the allocation of 26,785,715 new shares (the "Offer Shares") at a price of NOK 11.20 per share (the "Private Placement"). The Private Placement took place through an accelerated bookbuilding process after close of market on 22 March 2018. The Private Placement attracted strong interest from both existing shareholders as well as new high quality investors. DNB Markets, a part of DNB Bank ASA acted as manager for the Private Placement.

VISTIN PHARMA ASA - SUCCESSFULLY COMPLETED PRIVATE PLACEMENT
Oslo, Norway, 22 March 2018
Reference is made to the stock exchange announcement release by Vistin Pharma ASA ("Vistin Pharma" or the "Company") earlier today regarding the contemplated private placement of new shares in the Company.
The Board of Directors of Vistin Pharma is pleased to announce that the private placement has been successfully completed, raising NOK 300 million in gross proceeds through the allocation of 26,785,715 new shares (the "Offer Shares") at a price of NOK 11.20 per share (the "Private Placement"). The Private Placement took place through an accelerated bookbuilding process after close of market on 22 March 2018. The Private Placement attracted strong interest from both existing shareholders as well as new high quality investors. DNB Markets, a part of DNB Bank ASA acted as manager for the Private Placement.
On 16 March 2018, the Company announced that it had hired Torbjørn Kjus and Kenneth Tveter to establish a new business area within energy trading. The net proceeds from the Private Placement will be used to fund the establishment of the energy trading business and trading activities within this area.
Completion of the Private Placement is subject to (i) the adoption of the relevant corporate resolutions of the Company required to implement the issue the Offer Shares, including the annual general meeting's resolution to issue the Offer Shares, approve the subsequent repair offering and the proposed amendment of the articles of association to include the new energy trading business, (ii) the registration of the share capital increase pertaining to the issuance of the Offer Shares in the Norwegian Register of Business Enterprises and (iii) the Norwegian Financial Supervisory Authority ("NFSA") approving a combined prospectus for the listing of the Offer Shares and the subsequent repair offering (the "Prospectus").
Notification of conditional allotment will be sent to the applicants by the Manager today. Payment date for the Private Placement is expected to be on or about 11 May 2018 and the Offer Shares are expected to be delivered to the applicant's VPS account on or about 15 May 2018 and tradeable on the Oslo Stock Exchange from that date, subject to approval of the Prospectus by the NFSA.
Following registration of the share capital increase pertaining to the Private Placement, the Company will have a share capital of NOK 43,840,650, divided into 43,840,650 shares, each with a nominal value of NOK 1.00.
Completion of the Private Placement implies a deviation from the existing shareholders pre-emptive rights to subscribe for and be allocated new shares. The Board of Directors has carefully considered such deviation and has resolved that the Private Placement is in the best interests of the Company and its shareholders. In reaching this conclusion the Board of Directors has inter alia considered the limited discount to previous trading prices, the dilutive effect of the share issue, the investor interest in the transaction, the strengthening of the shareholder base that will be achieved by the Private Placement, the liquidity in the shares, transaction costs, transaction efficiency and completion risks.
The Board of Directors intends for the Company to carry out a subsequent repair offering of up to 4,464,286 new shares in which shareholders in the Company as of 22 March 2018, as registered in the VPS on 26 March 2018, who were not allocated Offer Shares in the Private Placement and who are not resident in a jurisdiction where such offering would be unlawful, or would (in jurisdictions other than Norway) require any prospectus filing, registration or similar action, will receive subscription rights. The subscription rights will not be listed and over-subscription and subscription without subscription rights will be allowed in the subsequent repair offering. The subscription price in the repair offering will be the same as in the Private Placement, i.e. NOK 11.20 per share.
Companies associated with Øystein Stray Spetalen have been allocated 4,732,142 Offer Shares at the subscription price of NOK 11.20 per share. After completion of the Private Placement, Øystein Stray Spetalen and close associates will own 7,727,948 shares. Øystein Stray Spetalen has entered into a lock-up agreement with the Manager for his and his associated companies' shareholdings (including new shares allocated in the Private Placement) in the Company for a period of 12 months following completion of the Private Placement. Ferncliff Management, controlled by Øystein Stray Spetalen will receive NOK 2.25 million as a coordination fee in connection with the Private Placement.
The Company has undertaken a lock-up to not issue additional shares in 2018 following the Private Placement and the subsequent repair issue.
In connection with the Private Placement, Torbjørn Kjus and Kenneth Tveter will be awarded 1,147,254 new share options. After the Private Placement, Torbjørn Kjus and Kenneth Tveter will have 2,170,549 and 1,829,451 options at a strike price of NOK 11.20, respectively. The options program is subject to approval on the annual general meeting expected to be held on or about 9 May 2018.
Since the Private Placement was successfully completed, the Board of Directors will not propose a dividend to be paid as announced in the Q4 2017 interim report published on 27 February 2018.
For further information, please contact:
Ole Enger
Chairman
+47 91 13 82 23

Gunnar Manum
CFO
+47 95 17 91 90

Published: 22:46 CET 22-03-2018 /GlobeNewswire /Source: Vistin Pharma ASA / : VISTIN /ISIN: NO0010734122
Vistin Pharma ASA : Key information for the subsequent repair issue

Reference is made to the stock exchange notice from Vistin Pharma ASA earlier today, 22 March 2018, regarding a subsequent repair issue of approximately NOK 50 million. Key information for the subsequent repair issue is described below.

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Date on which the terms and conditions of the subsequent repair issue were announced: 22 March 2018

Last day including right: 22 March 2018

Ex-date: 23 March 2018

Record Date: 26 March 2018

Date of approval: 9 May 2018

Maximum number of new shares: 4,464,286

Subscription price: NOK 11.20

Will the rights be listed - yes/no: No

Other information: The subsequent repair issue is subject to approval by the annual general meeting of Vistin Pharma ASA and approval and publication of a prospectus, expected to take place on or about 11 May 2018.

This information is published in accordance with the requirements of the Continuing Obligations.

Kan mulig komme bra ut av sitsen i Vistin, selv med den uventede twisten fra Spetalen. Sistnevnte tar ut noen millioner for jobben, men skal utvilsomt også ha betalt i form av kursstigning på aksjene sine, både de gamle og de nye. Kjus & Co skal likeledes ha fortjeneste på opsjonene. Da blir vi menige soldater med på lasset. I tillegg får vi retter i reparasjonen som er fine opsjoner siden den emisjonen ikke blir satt før i mai når vi antagelig ser hvilken vei det går og evt kan cashe inn direkte hvis konseptet slår an. Kanskje jeg til og med blir med videre. Ser ikke bort fra at dette kan bli en ny pengemaskin i tillegg til den gamle som dessuten kan selges for en bra penge med sin solide cash flow og skjult substans i eiendom og inventories. NOVO?

Kjus avslører tilsynelatende alle trading-strategiene sine i gårsdagens melding, og det ganske detaljert. Her er det åpent for andre å snappe forretningsideen. Les selv: http://hugin.info/168869/R/2178567/840699.pdf

Adm. direktør Espen Marcussen i Pactum har klokketro på den nye energisatsingen. – Det var en enkel grunn til å være med i emisjonen. Vi kjenner Torbjørn Kjus gjennom mange år og har tro på at han og teamet rundt vil bygge opp et spennende forretningsområde. Det er også verdt å påpeke at farmasidelen som allerede ligger i selskapet ser billig ut, sier han. Carnegie-analytiker Mikkel Nyholt ble overrasket over nysatsingen til legemiddelselskapet. Han uttalte følgende: «Nyheten kom som en overraskelse både for meg og hele markedet. Det virker veldig tydelig at de vil starte en energihandelsdivisjon og selge ut farmasidelen som allerede ligger der. Jeg tror på full restrukturering og navnebytte. Det er ingen synergier mellom oljetrading og diabetesmedisin».

FA lørdag

Det har vært spekulasjoner om salg av metforminvirksomheten helt siden meldingen om utsettelse av kapasitetsutvidelsen ble annonsert.
Det er mer enn sannsynlig at dette blir solgt - tipper 250-300 mill.

Det vil si rundt 5 kr/aksjen.med det nye antallet aksjer i selskapet. Oppkjøper får vel da ikke med seg noe av kassabeholdningen, som blir igjen i det nye selskapet. Oppgjøret for et salg av farma-delen blir nok heller ikke utbetalt som utbytte i sin helhet. Kan ikke si jeg er veldig begeistret for utviklingen her. Hadde sett fram til jevnlige utbytter, og muligheten for oppkjøp, med oppgjør betalt til ut til aksjonærene. Nå blir vi utvannet og får plutselig noe helt annet enn det vi har investert i, og som vi ikke skjønner hva er, annet enn at Spetalen har gått inn til 11,2 kr, og at Torbjørn Kjus har opsjoner på det samme. Da ligger det vel et gulv der for kursen, med mindre aksjemarkedet får seg en kraftig nedtur denne våren. Nesten så jeg håper kursen faller under Spetalens inngangskurs.

Forutsatt greit børsklima framover vil jeg bli med på reparasjonsemisjonen. Tror dette blir et spennende selskap å være aksjonær i framover.

Regner med at det kommer nye meldinger jevnlig. Forhåpentligvis klargjørende.