26 Sep 2011: Reference is made to NorDiags stock exchange announcements on 9 September 2011 and on 16 [...]

26 Sep 2011: NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES.
 
Reference is made to NorDiags stock exchange announcements on 9 September 2011 and on 16 September 2011, in relation to the Companys financial situation, the proposed rights issue of approximately 150 million to 200 million new shares and the invitation to participate in the underwriting syndicate in the rights issue.
 
In the said announcement on 16 September 2011, it is stated that the underwriting invitation was expected to close on 23 September 2011 at 17:30 CET. The minimum amount of the rights issue has not yet been underwritten. However, as NorDiag has received interest from and is continuing its dialogue with potential investors, including strategic investors and parties representing other potential strategic solutions, NorDiag has decided to extend the underwriting invitation until 29 September 2011 at 17:30 CET.
 
With regards to strategic investors and parties representing other potential strategic solutions, there can be given no assurance that they will decide to invest in NorDiag at satisfactory terms, or that they will be able to make any investment decision within the short timeframe available to find a solution for NorDiag's short-term financing need. However, given the level of interest received, NorDiags Board of Directors is of the opinion that there is a good probability to obtain a long-term strategic solution for the company if the company's short term financing need is solved.
 
The company may enter into liquidation if the minimum amount of the rights issue is not underwritten prior to the extraordinary general meeting, and if a bridge loan is not obtained to finance operations in the period from the extraordinary general meeting until the completion of the rights issue.
 
NorDiag will make further announcements in this respect if and when appropriate.
 
Contact:
CEO Mårten Wigstøl            Tel: +47 911 65775
CFO Tone Kvåle                  Tel: +47 915 19576
 
About NorDiag:
NorDiag is a biotechnology company developing, manufacturing and marketing automated solutions (instruments and reagents) for sample preparation of DNA from difficult biological samples. DNA diagnostics give more rapid and precise answers, and are the fastest growing field within diagnostics. The Company's sample preparation solutions are today used in connection with STI, tuberculosis, MRSA, respiratory pathogens and viruses on instruments for large and small laboratories. NorDiag was founded in 2003 and has its headquarters in Oslo, Norway. The Company has offices and laboratories in Stockholm, Sweden and in Atlanta (GA), USA. The group has today 31.6 man-labour years. NorDiag is listed on the Oslo Stock Exchange with ticker NORD.
 
For further information - www.nordiag.com

Read the notice in Norwegian here