Common use of Offer to the shareholders Clause in Contracts

Offer to the shareholders. If, in circumstances other than those specified in Sections 6.1 to 6.4, the Company makes an offer to its shareholders, with pre-emption rights under the principles set out in Chapter 13, section 1 of the Swedish Companies Act, to purchase securities or any other rights from the Company, or resolves in accordance with these principles to distribute to its shareholders securities or rights without consideration, an adjusted Subscription Price and adjusted number of Shares will apply to Subscription for shares requested at such a time that Shares allotted as a result do not entitle the Holders to participate in the offer. The adjustment will be made by the Company through its board of directors, using the following formulae: The average Share price is calculated in accordance with the provisions of Section 6.3. If shareholders have received purchase rights, and those rights have been traded, the value of the right to participate in the offer is deemed to be the value of the purchase right. In that case, in the event of Market Quotation the value of the purchase right is deemed to be the average of the highest and lowest paid prices as shown on the marketplace’s official list or other relevant market quotation for each trading day during the application period. If no paid price is quoted, the closing bid price quoted will form the basis of the calculation. Days for which neither a transaction price nor a bid price is quoted will not be included in the calculation. If shareholders have not received purchase rights, or the purchase rights have not been traded, the Subscription Price and the number of Shares will be adjusted, as far possible in accordance with the principles set out in Section 6.5, for which purpose the following will apply. If the securities or rights offered to the shareholders are listed on a stock exchange, the value of the right to participate in the offer is deemed to be the average of the highest and lowest paid prices for those securities or rights in the marketplace, for each trading day during a period of twenty-five (25) trading days commencing on the first day of the listing, where applicable less the consideration paid for the securities in connection with the offer. If no paid price is quoted, the closing bid price quoted will form the basis of the calculation. Days for which neither a transaction price nor a bid price is quoted will not be included in the calculation. When the Subscription Price and the number of Shares are adjusted in accordance with this paragraph the above period of twenty-five (25) trading days is deemed to correspond to the application period specified in the offer in accordance with the first paragraph in Section 6.5. If no such listing occurs, the value of the right to participate of the offer will, as far as possible, be determined on the basis of the change in the market value of the Company’s Shares that can be judged to have occurred as a result of the offer. The adjusted Subscription Price and adjusted number of Shares will be determined by the Company through its board of directors as soon as possible after the end of the offer period and will apply to Subscription of Shares taking place after that time. The provisions of Section 6.3, final paragraph apply to Subscription taking place during the period before the adjusted Subscription Price and adjusted number of shares have been determined.

Offer to the shareholders. If, in circumstances other than those specified in Sections 6.1 18.1 to 6.418.4, the Company makes an offer to its shareholders, with pre-emption rights under the principles set out in Chapter 13, section 1 of the Swedish Companies Act, to purchase securities or any other rights from the Company, or resolves in accordance with these principles to distribute to its shareholders securities or rights without consideration, an adjusted Subscription Price and adjusted number of Shares will apply to Subscription for shares requested at such a time that Shares allotted as a result do not entitle the Holders to participate in the offer. The adjustment will be made by the Company through its board of directors, using the following formulae: The average Share price is calculated in accordance with the provisions of Section 6.318.3. If shareholders have received purchase rights, and those rights have been traded, the value of the right to participate in the offer is deemed to be the value of the purchase right. In that case, in the event of Market Quotation the value of the purchase right is deemed to be the average of the highest and lowest paid prices as shown on the marketplace’s official list or other relevant market quotation for each trading day during the application period. If no paid price is quoted, the closing bid price quoted will form the basis of the calculation. Days for which neither a transaction price nor a bid price is quoted will not be included in the calculation. If shareholders have not received purchase rights, or the purchase rights have not been traded, the Subscription Price and the number of Shares will be adjusted, as far possible in accordance with the principles set out in Section 6.518.5, for which purpose the following will apply. If the securities or rights offered to the shareholders are listed on a stock exchange, the value of the right to participate in the offer is deemed to be the average of the highest and lowest paid prices for those securities or rights in the marketplace, for each trading day during a period of twenty-five (25) trading days commencing on the first day of the listing, where applicable less the consideration paid for the securities in connection with the offer. If no paid price is quoted, the closing bid price quoted will form the basis of the calculation. Days for which neither a transaction price nor a bid price is quoted will not be included in the calculation. When the Subscription Price and the number of Shares are adjusted in accordance with this paragraph the above period of twenty-five (25) trading days is deemed to correspond to the application period specified in the offer in accordance with the first paragraph in Section 6.518.5. If no such listing occurs, the value of the right to participate of the offer will, as far as possible, be determined on the basis of the change in the market value of the Company’s Shares that can be judged to have occurred as a result of the offer. The adjusted Subscription Price and adjusted number of Shares will be determined by the Company through its board of directors as soon as possible after the end of the offer period and will apply to Subscription of Shares taking place after that time. The provisions of Section 6.318.3, final paragraph apply to Subscription taking place during the period before the adjusted Subscription Price and adjusted number of shares have been determined.

Offer to the shareholders. If, in circumstances other than those specified in Sections 6.1 to 6.4, the Company makes an offer to its shareholders, with pre-emption rights under the principles set out in Chapter 13, section 1 of the Swedish Companies Act, to purchase securities or any other rights from the Company, or resolves in accordance with these principles to distribute to its shareholders securities or rights without consideration, an adjusted Subscription Price and adjusted number of Shares will apply to Subscription for shares requested at such a time that Shares allotted as a result do not entitle the Holders to participate in the offer. The adjustment will be made by the Company through its board of directors, using the following formulae: previous Subscription Price x the average stock exchange price of the Share during the application period specified in the offer (average Share price) The average Share price is calculated in accordance with the provisions of Section 6.3. If shareholders have received purchase rights, and those rights have been traded, the value of the right to participate in the offer is deemed to be the value of the purchase right. In that case, in the event of Market Quotation the value of the purchase right is deemed to be the average of the highest and lowest paid prices as shown on the marketplace’s official list or other relevant market quotation for each trading day during the application period. If no paid price is quoted, the closing bid price quoted will form the basis of the calculation. Days for which neither a transaction price nor a bid price is quoted will not be included in the calculation. If shareholders have not received purchase rights, or the purchase rights have not been traded, the Subscription Price and the number of Shares will be adjusted, as far possible in accordance with the principles set out in Section 6.5, for which purpose the following will apply. If the securities or rights offered to the shareholders are listed on a stock exchange, the value of the right to participate in the offer is deemed to be the average of the highest and lowest paid prices for those securities or rights in the marketplace, for each trading day during a period of twenty-five (25) trading days commencing on the first day of the listing, where applicable less the consideration paid for the securities in connection with the offer. If no paid price is quoted, the closing bid price quoted will form the basis of the calculation. Days for which neither a transaction price nor a bid price is quoted will not be included in the calculation. When the Subscription Price and the number of Shares are adjusted in accordance with this paragraph the above period of twenty-five (25) trading days is deemed to correspond to the application period specified in the offer in accordance with the first paragraph in Section 6.5. If no such listing occurs, the value of the right to participate of the offer will, as far as possible, be determined on the basis of the change in the market value of the Company’s Shares that can be judged to have occurred as a result of the offer. The adjusted Subscription Price and adjusted number of Shares will be determined by the Company through its board of directors as soon as possible after the end of the offer period and will apply to Subscription of Shares taking place after that time. The provisions of Section 6.3, final paragraph apply to Subscription taking place during the period before the adjusted Subscription Price and adjusted number of shares have been determined.

Offer to the shareholders. If, in circumstances other than those specified in Sections 6.1 to 6.4, the Company makes an offer to its shareholders, with pre-emption rights under the principles set out in Chapter 13, section 1 of the Swedish Companies Act, to purchase securities or any other rights from the Company, or resolves in accordance with these principles to distribute to its shareholders securities or rights without consideration, an adjusted Subscription Price and adjusted number of Shares will apply to Subscription for shares requested at such a time that Shares allotted as a result do not entitle the Holders to participate in the offer. The adjustment will be made by the Company through its board of directors, using the following formulae: adjusted Subscription Price = previous Subscription Price x the average stock exchange price of the Share during the application period specified in the offer (average Share price) average Share price plus the value of the right to participate in the offer (value of the purchase right) adjusted number of Shares to which each Warrant confers entitlement = previous number of Shares to which each Warrant confers entitlement x (average Share price plus the value of the purchase right) average Share price The average Share price is calculated in accordance with the provisions of Section 6.3. If shareholders have received purchase rights, and those rights have been traded, the value of the right to participate in the offer is deemed to be the value of the purchase right. In that case, in the event of Market Quotation the value of the purchase right is deemed to be the average of the highest and lowest paid prices as shown on the marketplace’s official list or other relevant market quotation for each trading day during the application period. If no paid price is quoted, the closing bid price quoted will form the basis of the calculation. Days for which neither a transaction price nor a bid price is quoted will not be included in the calculation. If shareholders have not received purchase rights, or the purchase rights have not been traded, the Subscription Price and the number of Shares will be adjusted, as far possible in accordance with the principles set out in Section 6.5, for which purpose the following will apply. If the securities or rights offered to the shareholders are listed on a stock exchange, the value of the right to participate in the offer is deemed to be the average of the highest and lowest paid prices for those securities or rights in the marketplace, for each trading day during a period of twenty-five (25) trading days commencing on the first day of the listing, where applicable less the consideration paid for the securities in connection with the offer. If no paid price is quoted, the closing bid price quoted will form the basis of the calculation. Days for which neither a transaction price nor a bid price is quoted will not be included in the calculation. When the Subscription Price and the number of Shares are adjusted in accordance with this paragraph the above period of twenty-five (25) trading days is deemed to correspond to the application period specified in the offer in accordance with the first paragraph in Section 6.5. If no such listing occurs, the value of the right to participate of the offer will, as far as possible, be determined on the basis of the change in the market value of the Company’s Shares that can be judged to have occurred as a result of the offer. The adjusted Subscription Price and adjusted number of Shares will be determined by the Company through its board of directors as soon as possible after the end of the offer period and will apply to Subscription of Shares taking place after that time. The provisions of Section 6.3, final paragraph apply to Subscription taking place during the period before the adjusted Subscription Price and adjusted number of shares have been determined.

Offer to the shareholders. If, in circumstances other than those specified in Sections 6.1 8.1 to 6.48.4, the Company makes an offer to its shareholders, with pre-emption rights under the principles set out in Chapter 13, section 1 of the Swedish Companies Act, to purchase securities or any other rights from the Company, or resolves in accordance with under these principles provisions to distribute to its shareholders securities or rights without consideration, an adjusted Subscription Conversion Price and adjusted number of Shares will apply to Subscription for shares Conversion requested at such a time that Shares allotted as a result do not entitle the Holders to participate in the offer. The adjustment will be made by the Company through its board of directors, using the following formulaeformula: adjusted Conversion Price = previous Conversion Price x the average stock exchange price of the Share during the application period specified in the offer (average Share price) average Share price plus the value of the right to participate in the offer (value of the purchase right) The average Share price is calculated in accordance with the provisions of Section 6.38.3. If shareholders have received purchase rights, and those rights have been traded, the value of the right to participate in the offer is deemed to be the value of the purchase right. In that case, in the event of Market Quotation the value of the purchase right is deemed to be the average of the highest and lowest paid prices as shown on the marketplace’s official list or other relevant market quotation for each trading day during the application period. If no paid price is quoted, the closing bid price quoted will form the basis of the calculation. Days for which neither a transaction price nor a bid price is quoted will not be included in the calculation. If shareholders have not received purchase rights, or the purchase rights have not been traded, the Subscription Conversion Price and the number of Shares will be adjusted, as far possible in accordance with the principles set out in Section 6.58.5, for which purpose the following will apply. If the securities or rights offered to the shareholders are listed on a stock exchange, the value of the right to participate in the offer is deemed to be the average of the highest and lowest paid prices for those securities or rights in the marketplace, for each trading day during a period of twenty-five (25) trading days commencing on the first day of the listing, where applicable less the consideration paid for the securities in connection with the offer. If no paid price is quoted, the closing bid price quoted will form the basis of the calculation. Days for which neither a transaction price nor a bid price is quoted will not be included in the calculation. When the Subscription Conversion Price and the number of Shares are is adjusted in accordance with this paragraph the above period of twenty-five (25) trading days is deemed to correspond to the application period specified in the offer in accordance with the first paragraph in Section 6.58.5. If no such listing occurs, the value of the right to participate of the offer will, as far as possible, be determined on the basis of the change in the market value of the Company’s Shares that can be judged to have occurred as a result of the offer. The adjusted Subscription Conversion Price and adjusted number of Shares will be determined by the Company through its board of directors as soon as possible after the end of the offer period and will apply to Subscription Conversion of Shares taking place made after that time. The provisions of Section 6.38.3, final paragraph apply to Subscription taking place Conversion made during the period before the adjusted Subscription Conversion Price and adjusted number of shares have has been determined.