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The
Novo Group - before and after The demerger of Novo Nordisk A/S into two companies is approaching. In this edition of Perspective we introduce the two new companies and describe the implications of the demerger for our shareholders. |
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Novozymes
A/S Novozymes is a biotechnology-based world leader in enzymes for industrial applications. The company has an estimated global market share of over 40%. |
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Financial highlights Novozymes (Enzyme Business activities only) Novo Nordisk (Health Care only) Financial statement for the first nine months of 2000 |
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Novo
Nordisk A/S The new Novo Nordisk is a global niche pharmaceutical company with biotechnology expertise. The company is the world leader in diabetes care. |
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Implications for shareholders Following the anticipated approval of the demerger at the extraordinary general meeting, each shareholder will receive one share in Novozymes A/S for each share currently owned in Novo Nordisk A/S. Holders of ADSs will be entitled to receive one B share for each two ADSs they hold. |
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The Novo Group - before and after
The demerger of Novo Nordisk A/S into two companies is approaching. In this edition of Perspective we introduce the two new companies and describe the implications of the demerger for our shareholders.
Novo Nordisk A/S is today a publicly quoted Danish company operating with an A and B share capital structure. The B shares are traded on the stock exchanges of Copenhagen and London and in the form of American Depositary Shares (ADSs) on the New York Stock Exchange. The A share capital is not listed on any stock exchange and cannot be disposed of according to the Articles of Association of the Novo Nordisk Foundation.
Following the announcement of the intention to demerge, Novo A/S was founded.Novo A/S is an unlisted Danish public, limited liability company, fully owned by the Novo Nordisk Foundation and established to manage the Foundation's funds and to invest actively in other companies.
All A and B shares in Novo Nordisk A/S previously held by the Novo Nordisk Foundation were transferred to Novo A/S on 31 December 1999 and represented 25.1% of the total share capital and 69.0% of the votes.
At the extraordinary general meeting on 13 November 2000, shareholders of Novo Nordisk A/S will be requested to approve the demerger. Upon approval, shareholders will receive one B share in Novozymes A/S for every B share they own in Novo Nordisk A/S. Holders of ADSs will be entitled to receive one B share in Novozymes A/S for each two ADSs they hold. Novo A/S will receive a number of A and B shares in Novozymes A/S matching the number of A and B shares it holds in Novo Nordisk A/S.
After the demerger, both Novozymes A/S and Novo Nordisk A/S will have a share capital and an A and B share structure similar to the one Novo Nordisk A/S has today. Novo Nordisk A/S' current listings will continue and Novozymes A/S is expected to be listed on the Copenhagen Stock Exchange.
