Investor Relations

 

UroLogical AS holds a share capital of NOK 763.100 with initial share price NOK 1.00

The company is in the process of expanding the share capital with 125.000 shares to NOK 888.100 by offering shares at price NOK 8,00. One investor has committed for 31.250 of the offered shares, leaving 93.750 shares available. The offering is open until December 31st, 2011.

The company has issued 150.000 options at NOK 2,00 for execution by June 2012.

 

Contact regarding the ongoing share capital expansion or other questions regarding the company´s financial status is to be directed to Mr. Jan Aage Røtnes, Chairman & CEO. Telephone +47 92 80 30 00, email:jar@urological.no.

 

Shareholders:

 

  • Coventure AS: 45.28%
  • Knut Eilert Karlsen: 27.52%
  • J.B. Ugland Venture AS: 16,38%
  • Jan Eilert Karlsen: 6.24%
  • Torbjørn Hoffstad: 3,28%
  • Lars Jorde: 1.31%

 

Board of Directors

 

The board consists of founder Knut Eilert Karlsen, Torbjørn Hoffstad and Petter Amundsen. Chairman is Jan Aage Røtnes, who also is acting CEO.

 

 

The Market

 

In Europe, the market size/number of catheter changes, is estimated to approximately 38 million per year. In Norway, the annual number of catheter change is 180 000. On average, 5% of men over the age of 65 use a permanent catheter. These are replaced seven times a year av an everage. For medical reasons, the catheters should be changed approximately every third week. A main reason this is not happening is often lack of resources.

 

The company`s technology is patented in Norway. A patent is currently pending in the United States and EP(European Patent). Urological owns the idea and patent rights to the product, which until now has been developed through the partnership with Coventure, users in urological communities as well as leading manufacturers of medical equipment. The medical content of the products is achieved through close cooperation with medical personnel and customers through professional forums, conferences and meetings. Urological is currently working on a R&D project(OFU) together with Haukeland University Hospital that aims to provide significant qualitative benefits, while providing av basis for more effective course of treatment wich includes new medical procedures (outpatients and community health services). Such procedures will for example result in improved quality of treatment of patient groups, savings for the funding authorities; transportation savings and reduction of costs to health personnel and reduced infections (will be tested in the clinical study). Preliminary discussions with distributors in Denmark, Sweden and the rest of the European countries have also been initiated.

 

For further information, contact chairman Jan Aage Røtnes, +47 92 80 30 00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For further information, contact Jan Aage Røtnes, Chairman & CEO. Telefhone + 47 92 80 30 00