August 24, 2017 / 1:44 PM / a year ago

Karo Pharma says clarifies bid financing details due to trading halt

STOCKHOLM, Aug 24 (Reuters) - Karo Pharma:

* Says regarding financing of bid for Norway’s Weifa ASA , Co wants to make the following clarification:

* Says Swedbank will supply loan and bridge financing until the firm has carried out a rights issue for repayment of the bridge financing, which was mentioned in a previous press release on Thursday

* Says during webcast at 0900 GMT on Thursday Karo Pharma mentioned as an example a relation between loan and rights issue of 50/50 pct. As previously stated in the press release, the relation has not yet been decided on

* Says decision and conditions for the rights issue will therefore be subject to further consideration by the Board

* Trading in Karo Pharma’s shares was halted earlier on Thursday, to be resumed again at 1400 GMT

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