Increased Individual Ownership Through Share Exchange From Maas Biolab, LLC
ALBUQUERQUE, N.M.--One of NeuroVive's largest shareholders, Maas Biolab, LLC is reducing its ownership by 359,304 shares through a share exchange with its Swedish and US shareholders. This share exchange involves Maas Biolab reducing its ownership of NeuroVive from 15.24% to 13.94%, and individual shareholders, including members of NeuroVive's management, Board of Directors and co-founders, increasing their personal holdings in NeuroVive.
"With this share exchange, Maas Biolab is continuing the strategy set in previous years of increasing the proportion of individual shareholdings in NeuroVive. Similar share swaps, of differing scales, have been executed on four previous occasions in the period 2009-2012," commented NeuroVive's Chairman, Greg Batcheller.
The transfer of shares from Maas Biolab, LLC to individual shareholders is being conducted off the market and is scheduled for completion by April 8th 2014. Increases to insider holdings will be reported in the customary manner. Maas Biolab LLC's total transfer (reduced holdings) will be recognised as a decrease in the related party holdings of Eskil Elmér and Marcus Keep pursuant to NASDAQ OMX rules.
Maas Biolab, LLC
Maas Biolab is a private pharmaceutical company in Albuquerque, New Mexico, USA, developing Mitogard®, the only cyclosporin formula designed for CSF delivery, to treat amyotrophic lateral sclerosis (ALS) and other neurodegenerative diseases. (http://www.maasbiolab.com)