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Bionor Pharma ASA completes extraordinary general meeting

(Oslo, Norway, 9 September 2016) Bionor Pharma ASA ("Bionor" or the "Company", ticker "BIONOR") has completed an Extraordinary General Meeting (EGM) today.

STOCK EXCHANGE ANNOUNCEMENT

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES

At the EGM the Company's shareholders passed resolutions approving the following:

(i) A share capital reduction to facilitate the completion of the private placement and the rights issue through issuance of new shares at a subscription price of NOK 0.10 (the "Share Capital Reduction"), (ii) the completion of a private placement to selected new investors (the "Private Placement"), (iii) a guaranteed rights issue to shareholders in the Company as per the end of 9 September 2016 who shall have preferential rights to subscribe for new shares, provided such shareholders 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 (the "Rights Issue"), (iv) the election of a new board of directors of the Company, (v) the election of new members to the Company's nomination committee and (vi) an amendment to the Company's stated objectives in its articles of association.

Please see the attached minutes from the meeting in Norwegian and English translation.

The payment date for the Private Placement is expected to be on or about 14 September 2016. The completion of the Private Placement remains subject to the registration of the share capital increase in the Norwegian Register of Business Enterprises, expected to take place on or about 16 September 2016. The first day of trading of the Private Placement Shares is expected to be on or about 19 September 2016.

Upon registration of the Share Capital Reduction and the share capital increase in respect of the Private Placement (but prior to completion of the Rights Issue), the Company will have an issued share capital of NOK 86,066,909.70 divided into 860,669,097 shares each with a par value of NOK 0.10.

The listing of the shares in the Private Placement, as well as the offer and listing of the shares in the Rights Issue is subject to a prospectus being approved by the Norwegian Financial Supervisory Authority and published by the Company. The prospectus, expected to be published on or about 14 September 2016, will contain further details about the Private Placement and the Rights Issue.

For key information relating to the Rights Issue please see the separate stock exchange announcement published by the Company on 19 August 2016.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Further information
Per S. Thoresen, Chairman of the Board of Directors, +47 906 14 620
Unni Hjelmaas, Acting CEO, +47 915 19 651, uh@bionorpharma.com

Link to announcement in pdf

Link to EGM minutes in pdf