AB Science: AB Science renews its Standby Equity Facility (PACEO) with Société Générale

AB Science: AB Science renews its Standby Equity Facility (PACEO) with Société                                    Générale                                                 Paris, July 30^th 2014 - 5.45pm                                                           Permanent Information                                   AB Science renews its Standby Equity Facility                                                  (PACEO) with Société Générale  AB Science SA (Euronext Paris -  FR0010557264 - AB), a pharmaceutical  company  specialised in research, development  and commercialisation of protein  kinase  inhibitors (PKI), hereby announced the renewal of its Standby Equity  Facility  (PACEO®) with Société Générale as  authorized by the Shareholders' Meeting  of  June 27, 2014.  Commenting on this announcement,  Laurent Guy, Chief  Financial Officer of  AB  Science has stated that: "Even  though we do not  currently need it since  our  cash position is above 25 million euros, this equity financing facility allows the diversification of our financial resources  and is a flexible solution  to  finance potential new developments".  Under the terms of the agreement,  Société Générale has committed to  purchase  newly created shares at any time during the 36-month commitment period, within the global limit  of 3,200,000  shares, being  9.7% of  the 32,925,187  shares  currently outstanding.  Should the entire standby equity facility  be drawn down and resulting in  the  issuance of 3,200,000 new shares, a  shareholder who currently owns 1% of  the  company's share capital would experience a reduction of his / her ownership to 0.96%^[1].  For each tranche,  the price  to be paid  equals the  volume weighted  average  share price of the three trading days preceding the effective date of purchase with a discount  capped at  5% dependent  on the  size of  the drawdown.  This  discount allows  Société  Générale, who  is  not  positioned as  a  long  term  shareholder in the  Company, to  purchase the shares  independently of  market  volatility.  ABScience has no minimum  drawdown obligation, and will  use the facility  at  its sole  discretion  if market  conditions  are  favorable and  in  the  best  interests of both the Company and its shareholders.  About AB Science  Founded in 2001, AB  Science is a pharmaceutical  company specializing in  the  research, development  and  commercialization  of  protein  kinase  inhibitors  (PKIs), a new class of targeted molecules whose action is to modify  signaling  pathways within cells. Through these  PKIs, the Company targets diseases  with  high unmet medical needs (cancer,  inflammatory diseases, and central  nervous  system diseases),  in both  human  and veterinary  medicines. AB  Science  has  developed  a  proprietary  portfolio  of  molecules  and  the  Company's  lead  compound, masitinib, has  already been registered  for veterinary medicine  in  Europe and in  the USA,  and is  pursuing thirteen  phase 3  studies in  human  medicine in first-line and second-line GIST, metastatic melanoma expressing JM mutation of c-Kit, multiple myeloma, metastatic colorectal cancer,  metastatic  prostate cancer, pancreatic  cancer, mastocytosis,  severe persistent  asthma,  rheumatoid arthritis,  Alzheimer's  disease,  progressive  forms  of  multiple  sclerosis, and Amyotrophic Lateral Sclerosis. The company is headquartered  in  Paris, France, and listed on Euronext Paris (ticker: AB).  More information is available on our website: www.ab-science.com.  About PACEO®  The PACEO®  is an  equity  financing solution  that  was designed  by  Société  Générale. The PACEO® helps issuers to diversify their funding sources  through  an additional financing option, while  preserving the financial balances.  The  PACEO® may be  drawn at  the issuer's  sole discretion  via the  issue of  new  shares at a low discount to the then market price; this solution provides  the  same benefits as a  capital increase while providing  the same guarantee as  a  confirmed credit line.  With this transaction,  Société Générale, the  leading  institution for equity lines in France, has set up its 42^th PACEO®.  -------------------------  [1]Based on 32,925,187 shares representing ABScience share capital  AB Science EN  ------------------------------------------------------------------------------  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: AB Science via Globenewswire HUG#1844086  
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